Australian insurer IAG has announced it is to appoint its current Deputy CEO to replace its outgoing CEO and Managing Director Peter Harmer.

Chairman Ms Elizabeth Bryan revealed Nick Hawkins will lead the firm from 1 November, following a “comprehensive internal and external search”.

Ms Bryan said Mr Hawkins’ appointment reflects the strength of IAG’s leadership team and will ensure continuity and stability for the company.

“Nick has a deep understanding of both global and domestic general insurance along with operational and financial experience, and this will ensure a smooth transition for IAG,” she added.

Mr Hawkins, who joined IAG in 2001, was appointed Deputy CEO in April this year after 12 years as Chief Financial Officer. Prior to this he spent two years as CEO of IAG’s New Zealand business.

Mr Hawkins said: “I am excited to lead IAG during its next phase of growth and ensure the company emerges from the economic downturn as a strong, resilient organisation.

“Insurance plays a fundamental role in our society and I’m proud to work for and lead a company that is truly purpose-led and customer-focused.

“Our purpose – to make your world a safer place – has never been more important than now as we continue to help our customers and communities recover from the devastating natural disasters of late 2019 and 2020, and the ongoing challenges resulting from climate change and the pandemic.

“I look forward to working with our people and our partners to continue to grow IAG and build on our work to meet the evolving needs of our customers and their communities.”