Asteron Life New Zealand has announced key leadership and governance appointments following its acquisition by Resolution Life Australasia.
Grant Willis has been appointed chief executive officer, overseeing the company’s transition under new ownership.
The business will be governed by the Asteron Life board, chaired by Simon Tyler. Other board members include independent directors Rachel Walsh and Julia Raue, along with directors Tim Tez and Keith Taylor.
The leadership transition coincides with a broader discussion on underinsurance in New Zealand, with a recent report from the Financial Services Council (FSC) highlighting that cost-of-living pressures continue to influence life and health insurance purchasing decisions.
According to the FSC, 41% of New Zealanders hold life insurance, while 39% have health insurance. Despite these coverage levels, over 90% of policyholders believe their policies provide value. The report highlighted financial preparedness gaps, with nearly 45% of respondents stating they do not fully understand financial risk and return.
Additional leadership roles have been filled as part of the company’s restructuring. Kristy Redfern has been appointed chief risk officer, and Stefan Azzopardi will take on the role of chief financial officer in March 2025.
Redfern, who joined Asteron Life in February 2025, previously served as general counsel and company secretary at AIA Australia.
Meanwhile, Azzopardi brings experience in senior leadership roles, most recently as CEO of Donaldson Brown Insurance Brokers, and earlier as chief finance and risk officer at Southern Cross Health Society.
Catherine Henshall will serve as interim appointed actuary while the search for a permanent candidate continues.
Scott Jensen has been named acting executive manager for claims and customer solutions while a recruitment process is conducted for the permanent position. He has been with Asteron Life for nearly five years in senior claims roles.
Tyler said the latest appointments provide the company with a strong governance structure and experienced leadership as it moves forward.
“These appointments provide Asteron Life with a robust governance structure and a strong management team to lead the business through this exciting new phase and continue to deliver its strategic growth agenda,” he said.
Willis said that Redfern, Azzopardi, and Henshall bring a wealth of expertise that will strengthen the company’s leadership team.
“I am very much looking forward to their input as we continue to grow our incredible business and transition into one of New Zealand’s largest life insurance businesses,” he said.
