Nancy McKinstry has resigned from her position as chairwoman of the Insurance Corporation of B.C.

A statement issued by ICBC CEO Jon Schubert Friday says that McKinstry stepped down from her position to "pursue other opportunities."

"I will personally miss Nancy, as will others at ICBC who have had the chance to work with her, and I wish her all the best as she moves on to new opportunities," Schubert said.

"Nancy has provided wise and professional leadership to the board since her appointment as chair in 2010 and her strong commitment to the governance of ICBC has been outstanding."

McKinstry spent more than 20 years with the investment management firm Odlum Brown, and has served on numerous boards including a term as chairwoman of Simon Fraser University. She was awarded the Order of Canada in 2005.

Premier Christy Clark offered thanks for McKinstry's work upon learning of her resignation.

"Nancy McKinstry has done a ton of work, philanthropic work, in British Columbia, she's been an incredible community volunteer," Clark told reporters in Victoria.

A replacement for McKinstry has yet to be announced.