IAG appoints CEO Asia

Insurer promotes deputy Duncan Brain to the top job in the region.

Insurance Australia Group (IAG) has promoted deputy chief executive officer Asia Duncan Brain to CEO Asia.

In a statement to the Australian Securities Exchange, the insurer said Mr Brain will replace Justin Breheny, who will return to Australia to take up the role of group chief risk officer.

Both appointments are effective October 1 and subject to regulatory approval.

CEO Mike Wilkins said Mr Brain has been intimately involved in the execution of the group's Asian strategy.

"Duncan is ideally placed to lead our Asia business as we increasingly move our focus from development to delivery," Mr Wilkins said. 

Asia comprises around 7% of IAG's gross written premium and is expected to reach 10% by 2016.