Well-known actuary and writer Nick Renton has died in Melbourne at the age of 79.

Mr Renton qualified as an actuary in 1957 and enjoyed a varied career as a company director, CEO, consultant and commercial arbitrator.

He is best remembered in the insurance industry as the man who blew the whistle on the Vehicle & General Insurance Group (V&G) in the 1970s, claiming the company’s profitability was illusory. When V&G collapsed Mr Renton found himself with financial guru status.

His first management role was with Swiss Life. He later became the first Executive Director of the Life Offices’ Association of Australia in 1975 and Executive Director of the Life Insurance Federation of Australia in 1979.

He was founder of the Australian Shareholders’ Association, Federal President of the Australian Society of Security Analysts and Victorian chairman of the Commercial Law Association of Australia.

He wrote more than 70 books and numerous articles.