Club Marine CEO Greg Fisher is recovering in a Melbourne hospital following a serious cycling accident in December.

It’s understood Mr Fisher was riding on a road near his holiday home on the Mornington Peninsula when his cycle and a car collided. He suffered extensive injuries.

Terry Towell, MD of Club Marine parent company Allianz Australia, told insuranceNEWS.com.au that Mr Fisher’s colleagues in the two companies “are in shock over Greg’s accident, and our thoughts are with him and his family at this time”.

“While Greg’s recovery will take time, we are hopeful that he will eventually return to full health.”

Mr Towell says Club Marine is operating as normal and “drawing on the extensive management resources within Club Marine, supported by the broader Allianz Australia Group”.