IAG confirms general counsel Chris Bertuch set to exit after ‘extended leave’

IAG has confirmed it’s most senior legal officer will leave the insurer after taking “extended leave” since earlier this year.

23/08/2017: Insurance Australia Group chief executive Peter Harmer in Sydney announcing profit results.Pic by James Croucher

Insurance Australia Group has confirmed it’s most senior legal officer will leave the company after taking “extended leave” since earlier this year.

IAG (IAG), in a short statement this morning, said the group general counsel Chris Bertuch would stand formally down from the company on September 30.

Mr Bertuch’s previously unexplained absence from the group had been the subject of reports ahead of the banking royal commission’s hearings into the insurance industry.

On June 1, IAG released a statement to the ASX that was signed by Rebecca Farrell who was “acting” in Mr Bertuch’s role.

IAG chief executive Peter Harmer said Mr Bertuch, who joined IAG as Group General Counsel and Company Secretary in 2011, made the decision while on extended leave from the company.

“Chris has been a key member of my leadership team and has led a number of landmark transactions which have transformed IAG, cementing our position as Australia and New Zealand’s leading general insurer,” Mr Harmer said.

“These included the acquisition of Wesfarmers’ insurance underwriting business in 2014, the Berkshire Hathaway strategic relationship in 2015 and most recently the agreed sale of IAG’s operations in Thailand, Vietnam and Indonesia in June this year,” Mr Harmer said.

“We thank Chris for his contribution to IAG and wish him all the very best for the future,” Mr Harmer said.

The company said Ms Farrell will continue in the role of acting group general counsel and company secretary while an internal and external search takes place for Mr Bertuch’s replacement.