Dr. Christopher Wallace, the Chief Executive of the Australian Reinsurance Pool Corporation (ARPC), has announced the appointment of Karin Rathbone as the corporation’s new Chief Risk Officer.
Rathbone brings a wealth of experience in risk management from her various roles in both consulting and corporate sectors within financial services. She joins ARPC from Colonial First State (CFS), where she also held the position of Chief Risk Officer.
Before joining ARPC, Rathbone held several senior risk leadership roles at CFS during its affiliation with the Commonwealth Bank of Australia (CBA). Earlier in her career, she served as a partner at KPMG and a director at Deloitte, specializing in governance, risk, and conduct. Her corporate experience includes significant risk leadership positions at BT Financial Group, Westpac, and CBA.
Originally from South Africa, Rathbone relocated to Australia in 2013. She holds arts and law degrees from the University of Witwatersrand and a diploma in advanced banking from the University of Johannesburg.
In recent developments, ARPC released an analysis indicating an improvement in the availability of general insurance for residents in cyclone-prone regions across Australia. According to ARPC’s insights, the financial stability of the cyclone pool has remained consistent since its inception in July 2022. The pool currently insures about half of all eligible properties, with premiums ceded aligning with initial expectations.
For now, ARPC has proposed no significant changes to the overall level of cyclone reinsurance pool premium rates, pending further market experience.
