UAC appoints Kiwi to board
Director of International Underwriting Agencies (
IUA),
Mike Street, has been appointed an associate director of the board of the Underwriting Agencies Council (UAC).
With the number of New Zealand members rapidly expanding, UAV general manager
William Legge said it made sense to have a New Zealand-based board representative.
“This move will facilitate communications between the board and our New Zealand-based members and UAC is delighted to welcome Mike Street to our governing body,” he said.
“As UAC’s New Zealand membership grows, and we have more member events there, it is important for us to get direct input from the New Zealand agencies via an associate director.”
Street is director, property & casualty with IUA and has 40 years’ experience in the insurance industry, having started as a trainee broker.
He then moved into the company market and remained there until 2002, when he joined IUA. In 2009, Street and wife Debbie became major shareholders in the company which was the first agency to join UAC.
There are now nine New Zealand-based UAC members.
Tower CEO’s tenure concludes
The two year tenure of Tower CEO David Hancock concluded yesterday, with new CEO
Richard Harding commencing in the role today.
Under the terms of his contract, Hancock will receive a long-term incentive payment of $500,000 and is also entitled to a short-term incentive payment, part of which will be paid now, with the remainder to be assessed against future metrics.
Board chairman
Michael Stiassny said the full amount of the payments will be disclosed in Tower’s 2015 annual report.
Hancock, who is taking a three month sabbatical following the conclusion of his tenure, will remain on the board as a director and will also remain on the boards of Tower’s Pacific Island companies in the short term.
AIG man leaves to take CEO role
Former head of broker and client management at AIG, Julian Travaglia, is leaving his position to take up the role of CEO at New Zealand Home Loans (NZHL), effective 12 October 2015.
Travaglia has been with AIG for eight years, and before his current role worked as head of consumer lines. Prior to joining AIG he held senior management positions at OPI NZ Ltd, Activa Health Ltd and AMP.
NZHL chairman Neil Richardson said it was Travaglia’s breadth of experience and expertise that made him a perfect match for the role.
“We were very pleased with the quality of applicants for the position of CEO and are delighted to have appointed Julian as we enter into a new phase of growth and development in our business.”
Travaglia replaces current NZHL CEO Mark Collins who is leaving the company after four years.
New Rothbury man in Northland
Commercial broker Wayne Ballantine has joined Rothbury Insurance Brokers Northland team.
His previous experience includes building compliance, underwriting and claims.
