Marcus Nagel will also stay on as an independent director.
Namoi Ballantyne sold Partners Life in 2023.
Insurance company Tower has appointed Naomi Ballantyne as an independent director to its board to fill a casual vacancy.
In 2023, Ballantyne sold Partners Life Limited, an insurance company she founded in 2010.
She is currently the managing director of KNK Consulting Limited, chair of insurance distribution group TAP Group Limited, and a director of Dai-ichi Life Asia Pacific Limited, the regional office of International Life Insurance Corporation.
Other insurers she has previously founded or worked for include Unique Solutions and Advice Limited, ING Life (now Chubb), and Sovereign (now AIA). Her previous directorships include Accuro Health Insurance, Newpark Financial Services, Club Life, and New Zealand Superannuation Services.
Tower chair Michael Stiassny said in a statement that her extensive experience would be invaluable to the company. “Naomi has forged an impressive career, having founded, built, and led successful financial services companies for more than 40 years.”
Tower’s board has determined that Ballantyne is an independent director and the appointment is effective from May 21.
As required by the NZX Listing Rules, she will retire at the annual shareholder meeting in February next year and be eligible for re-election.
Meanwhile, the board has also decided that director Marcus Nagel is now an independent director, following the sell-down by Bain Capital of all of its shares in Tower.
This is supplied content and not commissioned or paid for by NBR.
