Chubb names new CEO

Paula ter Brake has been appointed chief executive of Chubb Life Insurance New Zealand.

The appointment follows Gail Costa’s retirement, after a long and distinguished career in the insurance industry and with the company.

With 30 years of experience in the retail banking and insurance industries, ter Brake joins Chubb with a strong background in leadership and transformation, and a proven track record in the digital and consumer field.

Chairman Paul Brock said, “Paula’s proven track record in driving growth along with transforming large businesses will bring real value to our customers, partners and our people. She is recognised for her dynamic leadership style and success in driving strategic initiatives and will play a key role as we continue the growth and success of our business.

"As chief executive, Paula will focus on ensuring New Zealanders continue to have access to quality advice and the financial protection that’s right for their needs by delivering best-in-class products and services for customers, working with independent financial advisers, our distribution partners and leveraging innovative direct marketing strategies.

Before joining Chubb Life, ter Brake served as executive general manager, Consumer Brands for IAG New Zealand. Her remit at IAG included leading an extensive portfolio including its retail brands and bank partnerships across New Zealand.

Prior to IAG, she held leadership roles at Tower Insurance, First Citizen Asset Management, and GE Money.

Sang Lee, President, Southeast Asia & New Zealand, Chubb Life said, “We are excited about this new chapter for Chubb Life New Zealand and look forward to continuing to provide best-in-class products and services to our customers under Paula’s leadership.”

ter Brake is due to start on May 5, subject to regulatory approvals.