Insurance Business News
Suncorp Loses First Executive Post-merger
Thursday October 18, 2007
THE newly merged Suncorp-Promina group has lost its first senior executive from its dominant insurance business following the $7.9 billion marriage earlier this year.
Michael Kay, who was appointed chief executive of the motor insurer AAMI a year ago under the old Promina management, has resigned after the company said the two sides were unable to agree to a new contract on terms laid out by Suncorp.