QBE Group COO Colin Fagen has been appointed President of the Insurance Council of Australia (ICA), with a two-year term to start in January.

Mr Fagen, deputy president since last year, takes over from IAG COO Mark Milliner, who will remain a director. Allianz Australia MD Niran Peiris will be the new Deputy President.

The appointments were made at a board meeting in Sydney last week.

Mr Fagen has paid tribute to Mr Milliner and outlined the industry’s challenges.

“Expectations from various stakeholders including government, regulators and consumer representative groups… have rarely been higher,” he said.

“Issues including climate change, affordability, disclosure and mental health remain high on the public agenda.

“The ICA board has a special responsibility to guide the industry so it can remain sustainable while engaging with governments and stakeholders to help create stronger and more resilient communities.”