Darren O’Connell joins IAG intermediated team

IAG announced today Darren O’Connell will start on February 1 as EGM Underwriting at its Intermediated Insurance Australia (IIA) division headed by Group Executive Jarrod Hill.

In the same announcement, the insurer says Christa Marjoribanks has been permanently appointed as IIA EGM Product Pricing and Governance. She has been in that role in an acting capacity since late 2020, joining the business as a consultant from PwC early the same year.

Mr O’Connell was most recently with Suncorp where he led the commercial and intermediated portfolio, responsible for pricing, and profitable growth strategies as EGM Commercial & Intermediaries.

He left Suncorp last August after 35 years with the business.

“[Mr O’Connell] is a strategic thinker, trusted coach and mentor, and someone who likes the challenge of building and sustaining growth,” Mr Hill said.

“I know he will help us achieve our plans and shares our vision on what we can deliver for our partners, customers and our business.”

Mr Hill previously said in a IAG business update last month that he was establishing a dedicated underwriting office for IIA to drive “a step change” in its underwriting process and said he expected to appoint a senior leader for the role soon.

He says the appointments of Mr O’Connell and Ms Marjoribanks complete the IIA Leadership Team – an important step for the business as he aims to improve the division and achieve an insurance profit of at least $250 million by the 2023/24 financial year. IIA lost $10 million in the last financial year.

“We are dedicated to continuing to provide our partners and brokers with the best possible products, services and support in line with our growth strategy, and I’m thrilled with the team we have in place to do this,” Mr Hill said.

“As we look ahead, we have clearly stated our plans to grow our top line premium and most importantly our bottom line margin in the Intermediated Australia division.

“Underwriting and pricing excellence are at the centre of delivering on both these goals.”

Here is the IIA Leadership Team:

• Andrew Beer, EGM WFI

• Luke Boyle, EGM Partners & Platforms

• Darren O’Connell, EGM Underwriting IIA

• Damien Gallagher, EGM CGU

• Christa Marjoribanks, EGM Product, Pricing & Governance

• Tim Rafton, EGM Intermediated Claims

• Brad Robson, EGM Agencies