Chubb Life NZ names new CEO

Chubb Life New Zealand has named Paula ter Brake (pictured above) as its new chief executive officer, effective May 5, pending regulatory approval.

As CEO, ter Brake will focus on expanding Chubb Life’s financial protection services in New Zealand, working with independent financial advisers, distribution partners, and direct marketing channels. She succeeds Gail Costa, who is retiring after leading the company through its transition from Cigna to Chubb Life. 

“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,” Chubb Life chairman Paul Brock said.

Ter Brake joins the company with three decades of experience in retail banking and insurance, specialising in business transformation and digital strategy. 

Previously, she served as executive general manager for consumer brands at IAG New Zealand, overseeing the company’s retail brands and bank partnerships. She has also held leadership positions at Tower Insurance, First Citizen Asset Management, and GE Money. 

Sang Lee, president of Southeast Asia & New Zealand for Chubb Life, said the company is looking forward to its next phase under ter Brake’s leadership.

“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,” Lee said.