David Herlihy has retired as chairman of Insight Australia Group with immediate effect.

“The board would like to thank David for his guidance and contribution through the early phases of the company,” a statement said.

Mr Herlihy became Insight’s first independent chairman last July, when he said he looked forward to building on the group’s strategy of delivering services to shareholders.

insuranceNEWS.com.au understands a new CEO for Insight will be named shortly. The group has been without a CEO since Bill Friend left suddenly in August last year after six years’ service.