IAG appoints Craig Olsen as CEO for NZ division

IAG appoints Craig Olsen as CEO for NZ division

The executive general manager of IAG’s direct insurance business in New Zealand, Craig Olsen, has been appointed to succeed current New Zealand chief executive Jacki Johnson.

Ms Johnson, who has been CEO since 2010, has been appointed Group Executive, People, Performance & Reputation, as part of a new group leadership team announced by IAG Group Managing Director and CEO Peter Harmer today.

Mr Olsen was responsible for the integration of the AMI brand into IAG following its acquisition in 2012, maintaining a multi-brand strategy with other leading insurance brand State and niche vehicle insurer NAC. He developed a unified direct insurance structure to support AMI, State and NAC and has been successful with a strategy to distinguish the brands in the market.

Mr Olsen has strong intermediary (broker business) and stakeholder relationship experience from various roles in IAG’s workers compensation businesses in Australia, culminating in his appointment in 2008 as General Manager Workers Compensation within IAG’s CGU brand. In 2007 he was named AFR Boss Magazine “Young Executive of the Year”.

Mr Olsen will take over as CEO New Zealand on 1 January 2016 subject to the approval of the New Zealand sector’s regulator the Reserve Bank, when Ms Johnson transitions to her new Group role in Australia.

Mr Harmer said Mr Olsen was well-placed to lead the New Zealand business.

“Craig has proven his ability to lead through a period of significant change for IAG’s direct general insurance business. With disruption likely to be the new normal he has the skills to advance IAG’s position as the leading general insurer in New Zealand.”

Mr Olsen said he was excited by the opportunity to head up IAG’s operations in New Zealand.

“Almost half of New Zealand’s families and businesses rely on our brands and channels for their insurance needs. This is a wonderful responsibility for us to have and living up to this responsibility by meeting and exceeding our customer needs will be our key focus,” Mr
Olsen said.

Mr Harmer paid tribute to Ms Johnson’s leadership of IAG in New Zealand through a period of unprecedented growth and also through the challenges posed by the Canterbury earthquakes.

Her contribution was recently recognised when she was named a finalist in the executive of the year category in the Deloitte Top 200 Awards.

“Jacki is an exceptional leader. The reasons she’ll be missed in New Zealand are why she has so much to offer within the new group leadership structure,” Mr Harmer said.

“I’ve built many wonderful relationships both professionally and personally, and feel privileged to have worked with a great team of people in New Zealand,” said Ms Johnson.

“Our business is significantly different from what it was when I came here. We have grown to be a $2 billion business, but most importantly we’ve worked hard to support our customers. The Canterbury earthquakes have tested everyone, and resolving the remaining claims remains a top priority. I am proud to have been part of a company that has leveraged its strength and contributed beyond just paying claims to working with other sectors to contribute to a better outcome for the rebuild than might otherwise have been the case.

“I will be leaving IAG in very capable hands as the business looks to deepen its relationship with customers and stakeholders,” Ms Johnson added.

Ms Johnson’s new role as IAG Group Executive, People, Performance & Reputation will see her responsible for people and culture, corporate affairs, shared value and the IAG Foundation.

“If IAG is to maintain a sustainable competitive advantage in the markets it operates in, we need to have high-performing and engaged people and a strong reputation with all our stakeholders including our people, government and communities. I’m excited to be taking on this responsibility,” Ms Johnson said.

ENDS

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