Genworth Mortgage Insurance Australia has renewed its lenders mortgage insurance contract with Commonwealth Bank for three years. The contract is worth more than 40 per cent of Genworth's gross written premium. Last year Westpac terminated its contract with Genworth, wiping out about 14 per cent of its gross written premium. Michael Cole has retired from the board of IMB Bank after serving as a director since 2003 and as chair since 2007. The new chair is Noel Cornish, the former chief executive of BlueScope's Australian and New Zealand steel making operations. Cornish has been on the IMB Bank board since 2010 and was appointed deputy chair last year. He was previously chair of Hunter United Employees Credit Union. Cathy Aston, a former telecommunications industry executive, has joined as a non-executive director.