New CEO for Fidelity Life

Female insurance veteran to replace long-serving chief executive Milton Jennings. With special feature audio.

Fidelity Life has poached Nadine Tereora from rival Suncorp NZ to be its new chief executive.

Ms Tereora has resigned as insurer Suncorp’s executive general manager of customer experience to replace long-serving Fidelity chief executive Milton Jennings, who stepped down in March.

Ms Tereora has held senior roles at AIA NZ and Sovereign, and in 2012 joined Suncorp where she held the roles of executive general manager and Asteron Life chief executive before moving into her current role, a new job position created earlier this year.

She was the first female chief executive for a company within the Suncorp Group and helped Asteron Life win the 2015 Women's Employer of the Year at the New Zealand Insurance Industry Awards.

Suncorp chief executive Paul Smeaton says Ms Tereora’s leadership, innovation and strong customer focus leaves the company in a strong position for the future.

An internal and external search is being done to find her replacement.

Fidelity Life announced in December its chief executive Milton Jennings was stepping down at the end of March, after 29 years with the company and 14 years in the top role.

Mr Jennings, who remains an adviser to Fidelity’s board, said in December it was a good time for him to hand over the reins and look for new opportunities including governance and directorship roles. 

“Over the last 29 years, I have seen the company grow from 12 to 280 staff and assets grow from $8 million to $800 million.

“I have always been a strong advocate for the advice model and one of the key projects I will continue in my new role is helping to grow this model in New Zealand.”

Ms Tereora will start at Fidelity in October, with chief financial officer Ed Eadie acting as chief executive in the meantime.

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