Sydney – August 13. Assetinsure, Australia’s new general insurer, has appointed its Chief Operating Officer (COO), Mr Gregor Pfitzer, to the company’s Board of Directors.

Assetinsure’s CEO, Mr Peter Wedgwood, said the appointment was made in recognition of Mr Pfitzer’s unstinting efforts in developing the company.

As COO, Mr Pfitzer is responsible for key corporate functions including underwriting, claims, marketing and reinsurance. Prior to joining Assetinsure, he was Deputy Managing Director and General Manager of Gerling Australia Insurance Company Limited, having transferred to Australia from the Gerling Group’s head office in 1999. Mr Pfitzer holds an economics degree from the University of Cologne.

Assetinsure was launched formally on 20 April this year by Senator Helen Coonan, Minister for Revenue and Assistant Treasurer. She said the company’s arrival signified that the negative phase in Australia’s insurance industry was over, and would introduce welcome capacity to areas where it was most needed, especially in professional indemnity.

Assetinsure is also focused on underwriting corporate insurance including directors’ & officers’ liability, property, construction and financial risk insurance.

Assetinsure’s major shareholders are Babcock & Brown and Asset Underwriting. The company’s group Chairman is Mr John Fahey, past Premier of NSW and former Federal Minister of Finance.