QBE's group chief operations officer Colin Fagen has left the company this week and as a result has relinquished his role as president of the Insurance Council of Australia.
Fagen, pictured, was formerly CEO of QBE's Australia and New Zealand operations and had been in the COO role since 2015.
QBE has not given a reason for the departure but posted this statement on its website (also provided to the Australian Securities Exchange): "QBE Insurance Group announces that Colin Fagen, the group chief operations officer, has left the organisation. A replacement for the role of group chief operations officer has been identified and we will announce this in the coming weeks."
As a result of leaving QBE Fagen is no longer president of the Insurance Council of Australia as he is not working for a member.
The ICA has announced that Allianz Australia CEO Niran Peiris has stepped into the role of acting president of the board while the board will hold a special meeting in March to determine the roles of president and deputy president.
In January Insurance Post interviewed Fagen about his new role at the ICA.
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