Minister for Customer Service and Digital Government Jihad Dib today announced the appointment of Nicholas Whitlam as the next Chair of the State Insurance Regulatory Authority (SIRA).
Mr Whitlam brings extensive experience across the insurance and finance sectors to the state authority responsible for regulating motor accident compulsory third party (CTP) insurance, workers compensation insurance and the home building compensation scheme in NSW.
Mr Whitlam was the inaugural chair of the Port Authority of NSW until 2018, after holding the chair positions for the ports of Sydney, Newcastle and Port Kembla prior to their amalgamation. He also served as chair of the Lifetime Care and Support Authority and was on the boards of WorkCover NSW and the WorkCover Insurance Investment Fund.
Mr Whitlam was chief executive and managing director of the State Bank of NSW and is a former president of the NRMA. Mr Whitlam replaces outgoing chair Mr Trevor Matthews.
Minister Dib has also appointed Helen Rowell to the SIRA Board. Ms Rowell was the deputy chair of the Australian Prudential Regulation Authority (APRA) for 10 years until June 2023.
She has been a member of the executive committee of the International Association of Insurance Supervisors, president and vice president of the Council of the Actuaries Institute of Australia, and member and chair of committees of the International Actuarial Association from 2001 to 2007.
Minister for Customer Service and Digital Government Jihad Dib said:
"I would like to congratulate Mr Whitlam and Ms Rowell on their appointments, and I look forward to their experience helping guide NSW insurance schemes to better serve our communities."
Chair of SIRA Board Nicholas Whitlam said:
"Compulsory insurance, notably CTP and workers compensation, is now a part of everyday life. I look forward to participating in the supervision of these key protections of a civilised society."
Director on SIRA Board Helen Rowell said:
"SIRA plays a very important role for the NSW community in relation to workers compensation, motor accident and home building insurance. So, I am delighted to be joining the board of SIRA and look forward to working with the Chair and the other directors to continue to promote the highest standards of governance and oversight for SIRA's operations."
Chief Executive of SIRA Mandy Young said:
"Adding Mr Whitlam and Ms Rowell's extensive experience to the Board will bolster SIRA's capability as a modern, person-centric and data-driven regulator."
