After almost three decades with QBE Insurance CEO Frank O’Halloran says he’s beginning to ponder life after insurance. But despite becoming eligible for a special $3 million retirement payment last month, he’s not going anywhere yet, thanks.

The 58-year-old self-confessed workaholic said in the Australian Financial Review yesterday that he isn’t spending as much time with his family as he would he like. “I’ve always been a person to spend many hours in this office and many hours travelling and I do owe it to my family to spend more time with them.”

The $3 million payment is equal to 150% of Mr O’Halloran’s base salary, plus short-term incentives.