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Mike Wilkins, Chief Executive Officer, IAG, 25 June 2012

BOARDROOM LUNCH

Mike Wilkins addressed a boardroom lunch for 70 business executives where he discussed “In Defence of the Insurance Industry”. This lunch was proudly hosted by Freehills and IBM Australia.

Australia’s insurance sector pumps $20 billion dollars into the economy every year and is an economic shock absorber in times of natural disaster and catastrophe. In fact, in 2011 Oceania accounted for 17 per cent of all insured losses globally, far more than the 3% on average for the previous 30 years.

IAG is a top 40 ASX listed company, with a market cap of almost $7 billion. IAG underwrites around $8 billion of insurance premiums each year and employs around 13,000 people. The IAG Group brands include NRMA Insurance, SGIC, SGIO,CGU, State Insurance and others.

Michael Wilkins was appointed as Managing Director and Chief Executive Officer in 2008 after holding the position of chief operating officer and director of IAG since 2007. He is a former director and president of the Insurance Council of Australia and a former director of the Investment and Financial Services Association (now the Financial Services Council).

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