Utley quits IAG to focus on his own investments
Neil Utley has revealed his intention to return to his entrepreneurial roots after quitting his role as chief executive of Insurance Australia Group's (IAG) UK business.
Mr Utley claimed he had always planned to exit IAG after his three-year contract, which ended in January, was up and that after the insurer announced it was ploughing $365m (£207m) into its UK claims reserves following a "significant deterioration" in UK claims experience, it was the ideal time to hand over the reins to a new leader who could take the business forward.
Ian Foy, currently CEO of IAG's New Zealand business, will return to the UK to take up the role on 1 September, with Mr Utley
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