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Board changes for mortgage insurer

by Reporter5 minute read
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Genworth has announced that two of its board members are to retire at the end of the month, with a former GM of MLC and a tax lawyer taking up their places on the board.

Genworth Mortgage Insurance Australia Limited (Genworth) has announced that Leon Roday and Anthony Gill will be retiring as members of the board of directors on 31 August 2018.

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Mr Gill, who was appointed to the board of Genworth in February 2012, is the chairman of the Capital and Investments Committee and a member of the Audit, Risk and Technology Committees.

He has also been on the board of Genworth Financial Mortgage Insurance Py Ltd since 2011.

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Mr Roday, who joined the board in March 2012 as a designee of Genworth Financial Inc, serves on the Remuneration and Nominations Committee.

Both Mr Gill and Mr Roday served as directors of the board during the insurance company’s listing on the ASX in 2014.

Genworth’s board thanked the outgoing board members for their “commitment, guidance and contribution” to the company during their six-year tenures.

As well as announcing the departure of Mr Gill and Mr Roday, the board also announced the names of their successors.

Duncan West, the former CEO of Vero Insurance and CGU Insurance and a former general manager for NAB’s MLC wealth business, will take up a position as a non-executive director to the Genworth board effective 1 September 2018.

Mr West is currently a director of Hollard Insurance Company Pty Limited, Hallmark General Insurance Company Ltd, Latitude Insurance Holdings Pty Ltd, Lawcover Insurance Pty Ltd, Pacific Life Re (Australia) Pty Ltd and Avant Group Holdings Limited.

Likewise, tax lawyer Christine Patton will join the board on 1 September alongside Mr West.

Ms Patton, who began her career as a tax lawyer at two major accounting firms, has worked and lived in Bermuda for the last 26 years and was formerly the Group Legal Counsel of NYSE-listed reinsurer PartnerRe Ltd.

[Related: Former broker boss to join LMI provider]

Board changes for mortgage insurer
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