The company announced Clive van Horen would leave his role as banking chief executive. It follows the announcement of the retirement of Paul Smeaton, the chief operating officer of its insurance business.

Suncorp chief executive Steve Johnston said van Horen was leaving for a role in the non-bank financial services sector. He had been with the business for three years.

“We are disappointed to see him go but we wish him all the very best for the future,” Johnston said.

The announcement came at the company’s annual general meeting where chair Christine McLoughlin said it was no longer sustainable for homes to be built in areas where they were repeatedly impacted by natural disasters.

“When we visit communities after major disasters we are inevitably struck by the confluence of events which includes failures in planning processes. There are examples of where customers’ homes have been impacted in a flood zone time and again. This is not sustainable,” she said.

“Essentially, governments at all levels need to limit development on flood plains and encourage their occupants to move to higher ground.”

McLoughlin said after the ACCC rejected the sale of its bank to ANZ, a tribunal had been formed and would independently review the decision.

Hearings were expected in December and a decision was likely by the end of February, 2024.