I am pleased to announce the appointment of Mr Rod Atfield to the Australian Prudential Regulation Authority (APRA) Board as an independent member for the term of five years from 1 September 2001. Mr Atfield was previously Managing Director of the Mercantile Mutual Group, with extensive and valuable experience in the general insurance industry.
In addition to Mr Atfield's more than 40 years experience in the insurance field, he has also made a significant contribution to the industry and professional associations of which he has been a member during his career. Mr Atfield is a former director of the Insurance Council of Australia, the Life Insurance Federation of Australia and a past President of the Institute of Actuaries of Australia. Additional biographical notes are attached.
APRA was created as a statutory authority on 1 July 1998, and has the responsibility for the prudential regulation of authorised deposit-taking institutions, insurance companies, friendly societies and superannuation funds.
The Australian Prudential Regulation Authority Act 1998 provides for a Board including representatives from the Reserve Bank of Australia, the Australian Securities and Investments Commission and four independent members. The APRA Board is charged with determining APRA's policy goals, priorities and strategies.
With this appointment, the membership of the Board consists of:
• Dr Jeffrey Carmichael, Chairman
• Mr Graeme Thompson CEO (ex-officio)
• Mr Ian Macfarlane (ex-officio)
• Dr John Laker (ex-officio)
• Mr Don Mercer
•Dr David Knox
• Mrs Marian Micalizzi
• Mr Rod Atfield
CURRICULUM VITAE - RODNEY JOHN ATFIELD
Qualifications: Fellow of the Institute of Actuaries (London)
Fellow of the Institute of Actuaries of Australia
Past President of the Institute of Actuaries of Australia
Fellow of the Australian Insurance Institute
Career: 1999-2001 Chairman QBE-Mercantile Mutual Limited
1995-2000 Managing Director of the Mercantile Mutual Group
1987-1995 Deputy Managing Director: Mercantile Mutual Group
1980-1987 Chief Executive Officer Mercantile Mutual Life
1966-1985 Appointed Actuary Mercantile Mutual Life
1960-1966 Assistant Actuary Mercantile Mutual Life
Current Positions: Chairman Macquarie University Actuarial Foundation
Director of:
- HPAL Limited
- Armstrong-Jones (NZ)
- MFL&SIL Superannuation Funds (NZ)
- Lindara Family Program
- Children's Medical Research Institute
Industry & Professional Bodies: Member or the Treasurer's Consultative Committee
Delegate to the International Actuarial Association
Former Director of:
- Insurance Council of Australia (ICA)
- Life Insurance Federation of Australia (LIFA)
- Life Investment & Superannuation (LISA)
- Institute of Actuaries of Australia