Tim Grafton, chief executive of the Insurance Council of New Zealand Te Kāhui Inihua o Aotearoa (ICNZ), has announced his intention to step down from his position next year, following nearly 12 years of service.
During his tenure, Tim Grafton led the ICNZ through 96 major insured events within the New Zealand general insurance sector. These events varied in scale, ranging from just over $1 million to the current weather events, approaching $4 billion in insurance payments.
Notable among the challenges he navigated were the Canterbury earthquakes, the Kaikoūra earthquake, substantial floods, tornadoes, fires, and cyclones. Moreover, Grafton engaged the industry with the government to modernize and fortify New Zealand's insurance legislation and regulation.
“The ICNZ board are grateful for the contribution that Tim has made to the industry over many years and will be looking to recruit a new CEO who will be as committed to the future of Aotearoa New Zealand, the community and the general insurance sector as Tim has been,” ICNZ president Toni Ferrier said in a news release.
Until the organisation’s AGM in April 2024, Grafton will continue as chief executive to ensure a seamless transition for his team and the industry body. Additionally, he will also serve as the vice president of the Global Federation of Insurance Associations until his departure from ICNZ.
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