National Australia Bank has secured former CGU Insurance CEO Duncan West to head up its insurance operations in MLC and NAB Wealth.

Mr West will take over the companies’ life insurance business and develop NAB’s bancassurance strategy from March 1.

Prior to joining CGU in December 2007 he was CEO of Vero Insurance and EGM of Group Strategy at Promina Group.

During Mr West’s 25 years in the insurance industry he has held a number of senior management roles in Australia, the UK and India, with his employers including IAG, Royal & SunAlliance and Royal Insurance. 

MLC Group Executive Steve Tucker says Mr West’s experience in all aspects of insurance, including risk pricing and underwriting, claims and distribution management, will benefit the company.

“We have a significant insurance agenda as we continue to bring the Aviva and MLC insurance offerings together and his depth of experience will be invaluable in driving this agenda forward,” Mr Tucker said.

MLC has $1.4 billion of inforce premiums, equating to a 16.1% market share.