Australia’s Suncorp has announced the appointment of Non-Executive Director Duncan West as its new Board Chairman, succeeding retiring Christine McLoughlin AM, the company announced on Friday, 27 June.
West joined the Board in September 2021, serving as Chairman of the Risk Committee and a member of the Audit Committee.
With over 40 years of experience in general and life insurance, banking, and wealth management, he has led at least 11 different companies. He is the Chairman of Challenger Limited and a Non-Executive Director of Helia Group (formerly Genworth Mortgage Insurance Australia).
Previously, West held senior positions at The Hollard Insurance, Lawcover Insurance, Habitat for Humanity, Vero Insurance, CGU Insurance, and Insurance for NAB Wealth and MLC.
He replaces McLoughlin, who will leave the Board at the end of Suncorp’s Annual General Meeting on 25 September.
McLoughlin has spent a decade at Suncorp, including 7 years as chairperson. Throughout her tenure, she oversaw the company’s transition to become a dedicated Trans-Tasman insurer, based in Queensland.
Her retirement comes after the completion of the sale of Suncorp Bank to ANZ, first announced in 2022.
“I am proud of the value that has been delivered to our shareholders, through a period when we have faced significant challenges, including the COVID-19 pandemic, supply chain disruptions, and unprecedented weather events, a very complex process to sell Suncorp Bank, whilst also delivering meaningful outcomes for customers,” McLoughlin said. “Suncorp is well positioned to deliver on its ambition, and I am confident Duncan, and our CEO Steve Johnston together will continue to lead the business successfully into its next chapter.”
Commenting on his appointment, West stated: “It is a privilege to have the opportunity to guide Suncorp as a dedicated general insurance company and continue to deliver outcomes for shareholders, customers and communities.”
