Appointment of TIO CEO

Sydney, 13 August 2015

Allianz is pleased to announce the appointment of Daryl Madden as CEO of TIO. Daryl replaces Allianz’s Chief Market Manager, Paul Kernaghan, who has been Acting CEO for the past seven months following the acquisition of TIO by Allianz.

Daryl joined Allianz in 2011 as Group Manager – Reporting and Planning and most recently has been Acting General Manager Policy Services. Daryl has extensive management experience across a range of industries and countries and is widely respected in the insurance industry for his ability to work effectively across complex issues and situations.

During his professional career, Daryl has worked with major insurance companies both in Australia and the USA including Suncorp and MLC in Australia and State Farm Insurance and Allstate Life Insurance in the USA. Daryl has had a varied and wellrounded career across insurance and other related industries.

Daryl has a Bachelor degree in Business Administration with a major in Accounting from the University of Notre Dame in Indiana USA. He is also a member of the Institute of Chartered Accountants and a member and Fellow at the Governance Institute of Australia.

Daryl’s appointment is effective August 31, 2015.

Allianz Managing Director, Niran Peiris, said “we have given considerable thought to the future requirements of TIO and Territorians and I am confident that Daryl will be an excellent leader for TIO. We are progressing well with our plans for TIO and have already delivered a number of new product offerings to Territorians. I would like to thank Paul for his work over the seven months he has been Acting CEO.”

About Allianz Australia
General Insurance Company of the Year 2014, 2013, 2012, 2011, 2009*
Best General Insurance Company of the Year 2014, 2012, 2010, 2007, 2006**

Allianz Australia delivers a wide range of personal, commercial and corporate insurance products and services to more than 2.5 million policyholders. Over 50% of Australia's top 200 BRW-listed companies have some form of insurance cover with the group and the group provides workers compensation services to around one-fifth of Australian employees.

*Australia & New Zealand Insurance Industry Awards
**Australian Banking and Finance Insurance Awards