Aussie insurer appoints new MD

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One of Australia’s biggest insurers has appointed a new managing director as its current boss will retire at the end of the year after a lengthy tenure in the firm’s hot-seat.

Niran Peiris has been appointed as the next managing director of Allianz Australia following the retirement of Allianz’s long-standing managing director, Terry Towell.

Peiris, currently chief general manager of Retail Distribution and CEO of Allianz Australia Life Insurance, will assume the position on 1 January 2013. He joined Allianz Australia in 2000, before being appointed as Chief Financial Officer in 2002, a position he held until 2009. Prior to joining Allianz, Niran had over 15 years’ experience in insurance and finance.

“As a key manager of the company’s Senior Management Team for over a decade, he brings a broad and deep knowledge of the business to the position of managing director,” said Clement B Booth, the Member of the Board of Management of the global Allianz SE Group whose responsibilities include Australia.

John Curtis, chairman of Allianz Australia, said: “The strong growth and performance of Allianz Australia under Terry’s leadership is testament to his dedication, expertise and first-class management during his time as managing director. I thank Terry for his 14 years of exemplary service at the helm of Allianz Australia".

Booth said: “Terry has overseen the re-branding and transformation of the company from a mid-sized insurer into one of Australia’s largest and best performing insurance brands”.

“During my time at Allianz, I have sought to develop a high-performance culture and create a talent pipeline of future managers and leaders so that high quality internal candidates are available for all senior positions in the business,” said Towell, a 40-year veteran of the Australian insurance industry, who will retire as managing director after more than a decade of leadership of Allianz Australia.

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