ASX: IAG – Group General Counsel and Company Secretary Mr. Chris Bertuch leaves the Board

Insurance Australia Group Limited (ASX: IAG) informed the market that Group General Counsel and Company Secretary Chris Bertuch has decided to leave the company effective 30 September 2018. Under his leadership, the company has led several landmark transactions which transformed the group and solidified IAG’s position as a leading general insurer in Australia and New Zealand (ANZ) region. For instance, he was involved in 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. In the meantime, Rebecca 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.

With this new, the share price for IAG plunged 0.487 per cent to $8.18 before the market close on July 10, 2018 with the intra-day trading volume of more than 1.6 million. Currently, it is trading close to 52-week high (i.e., $8.685). In last one year, the stock moved up by about 20%, as at July 09, 2018.


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