Peter Harmer appointed chief executive of CGU

Former Aon UK boss Peter Harmer has been appointed chief executive of IAG subsidiary CGU, succeeding Duncan West who has announced his resignation for family reasons.

Harmer quit as chief executive of Aon UK in June 2009 to return to Australia. Prior to running Aon UK, Harmer was chief executive of Aon’s Australian operations.

IAG managing director and chief executive, Michael Wilkins, said: “Peter is well-known and highly regarded within the insurance industry.

"During his time as CEO of Aon Limited UK, he led a significant turnaround in the business. Before that he led Aon’s Australian operations, significantly growing the business while delivering an improved operating margin. His depth of experience, established relationships and proven leadership qualities make him a valuable addition to our organisation.”

Harmer will start the job on 8 November 2010 but will have an extended handover with West who will remain with the company until the end of January 2011.

Wilkins added: "Duncan has made a significant contribution during his time as chief executive of CGU. Under his leadership, CGU has delivered a $130m improvement in underlying insurance profit over the past two years, placing the business on a clear turnaround path. We’re confident the momentum established within CGU will continue as the changes made to improve the business are now fully embedded."