Chubb Life Appoints New CEO

Paula ter Brake, who has 30 years experience in the retail banking and insurance industries, has been appointed Chief Executive Officer of Chubb Life Insurance New Zealand, effective May 5, subject to regulatory approvals.

The insurer says ter Brake joins Chubb with a strong background in leadership and transformation, and a proven track record in the digital and consumer field.

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.

Chubb says the appointment follows Gail Costa’s retirement “…after a long and distinguished career in the insurance industry and with the company.” (See: Chubb CEO Plans Exit.)

…ter Brake’s proven track record in driving growth along with transforming large businesses will bring real value to our customers, partners and our people…

Paul Brock, Board Chair at Chubb Life, says ter Brake’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.”

Chubb says as CEO she 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.”

Sang Lee, President, Southeast Asia & New Zealand, Chubb Life says the company is excited about this new chapter for Chubb Life New Zealand.