Michael Wintringham, Chair of the Earthquake Commission (EQC), today announced the appointment of Ian Simpson as its new Chief Executive. Ian takes up his position with EQC in February 2010, replacing David Middleton who is retiring after leading the organisation for the past 17 years.

Ian joins EQC from the Accident Compensation Corporation where, since May 2006, he has been General Manager Finance. Here he has been leading a team of 100 staff responsible across the breadth of financial management activities for the organisation, including the returns of ACC's $11 billion global investment portfolio.

"Ian will bring to the Commission a strong, professional record in the public and private financial sectors both in New Zealand and, previously, in the UK and internationally. He has the leadership, management, technical and relationship skills to continue to grow and position the Earthquake Commission as one of the most comprehensive natural disaster funds in the world.

"His experience in his previous roles at multinational organisations in corporate finance and capital markets, combined with his insurance knowledge from ACC, will provide a strong foundation for his leadership of the Earthquake Commission."

Ian holds an MBA (with Distinction) from INSEAD Fontainebleau, France, and a BSc (Hons) in Mathematics from the University of Manchester.

EQC is New Zealand's primary provider of natural disaster insurance to residential property owners. It is a Government-owned Crown Entity. EQC also supports research and public education on natural disasters and ways of reducing their impact. EQC manages and draws on the Natural Disaster Fund. The Fund, currently $5.57 billion, is accumulated from premiums paid by homeowners and investment income. It is backed up by reinsurance from overseas and a Government guarantee.