icare NSW has named Piri Kularajah as its new general manager of financial performance and analysis, expanding its senior leadership group.
Kularajah brings two decades of experience in the financial services sector, having worked in both Australia and the UK.
His background includes senior roles focusing on financial management, business transformation, and strategic oversight.
Before joining icare, Kularajah held leadership positions at MLC Limited, where he was responsible for profitability and performance reporting as well as actuarial valuation.
His work at MLC included overseeing enterprise-wide financial planning, supporting investment strategies, and managing the adoption of AASB17, the accounting standard for insurance contracts.
Kularajah also worked at AIA Australia as head of deal completion, where he contributed to the acquisition of CommInsure Life from Commonwealth Bank, a transaction valued at $3.8 billion.
In his new role at icare, Kularajah will lead the financial planning and analysis division.
His mandate covers enhancing financial analytics, improving planning processes, and supporting executive decisions across icare’s portfolio, which includes workers compensation, lifetime care, and dust diseases insurance schemes.
The appointment is effective immediately.
The announcement of Kularajah’s appointment follows the recent selection of Geniere Aplin as icare’s new chief executive officer, with her tenure beginning in March.
Aplin most recently served as CEO of EML Solutions, a company specialising in workers compensation claims management.
icare’s chair, John Robertson, said the CEO recruitment process was comprehensive and aimed at identifying a leader who could continue the organisation’s reform agenda and maintain strong governance practices.
Aplin commented that she is committed to collaborating with the board and staff to achieve positive outcomes for both business and the community.
“I am passionate about working with people to inspire, connect, and empower teams to deliver improved business and community outcomes, and [I] am looking forward to working with the board and the icare team to achieve this,” she said.
The leadership change comes after the departure of former CEO Richard Harding, who resigned after three years in the role.
In a separate development, the Australian Prudential Regulation Authority (APRA) has commenced a consultation process regarding proposed updates to the Private Health Insurance (Health Benefits Fund Enforcement) Rules 2015.
The regulator is inviting feedback from industry stakeholders to ensure the rules remain relevant and consistent with current legislation.
APRA released a consultation letter on July 14 outlining the proposed changes, which are primarily administrative. These include updating references to legislation, correcting minor errors, and removing transitional provisions that are no longer applicable.
The amendments also reflect changes to the Corporations Act 2001 since the rules were first introduced.
APRA has clarified that the underlying policy intent of the rules is unchanged.
The consultation period will remain open until Aug. 8, with the revised rules expected to be finalised in September.
