New head for Quest Insurance
Geneva Finance has announced the appointment of Greg Main as head of its subsidiary company, Quest Insurance Group.
Main, who has more than 30 years of experience in the insurance, banking and risk management industry, took up the position this month.
His appointment, announced to the NZX on November 8, follows the company’s announcement in August that Simon Moore, Geneva’s sales and lending insurance manager is leaving this year.
“Greg has extensive experience in general and life insurance including product management/development, distribution – direct, intermediated and broker, underwriting and pricing, lending, risk management and compliance,” Geneva says in its statement.
“He also has a strong background in the strategic development of insurance products and is an accomplished leader who is experienced in building strong relationships with internal and external stakeholders.”
Main has been a director of GBM Consulting, which provides services to the insurance and finance industry, since 2013.
He is also a director of Pets in the City, a pet hotel and dog day-care facility, and a franchise owner of Quest on Beaumont, which offers apartment hotel accommodation, with both those businesses based in Auckland.
Some of his past roles include being head of general insurance at the Medical Assurance Society, chief executive officer of DPL Insurance and general manager lending at Dorchester, and general manager of business solutions at Lumley Insurance.
Profit blow
Geneva Finance has also revealed that while results for the six months to September are not yet finalised, indications are the group’s after-tax profit will be down on last year by between 17.5 per cent and 22.5 per cent.
A separate announcement to the NZX on November 8 adds that the company’s pre-tax result will be between eight per cent and 12 per cent behind the same period of last year.
The group notes the difference between the after-tax and pre-tax deficit is because of an adjustment to deferred taxation, which is a non-cash item.
“The reduction in the pre-tax profit is mainly attributable to the lending operation that has been impacted by higher cost of funds and continued Covid interruptions to the market,” it says.
