Insurance boss resigns

NZX-listed insurer Tower has announced Blair Turnbull has resigned as chief executive officer and will step down on February 12, 2025, following the annual shareholder meeting the day before. 

Turnbull, pictured, joined Tower in 2020 and has overseen a number of changes at the company, which operates in New Zealand and the Pacific Islands. 

Michael Stiassny, chairman, says Turnbull’s energy and focus during his time with the business have been on building a better, sustainable Tower powered by digital technology and data. 

“He has championed a culture that is diverse, talent-led and synonymous with innovation, while improving Tower’s business performance and delivering profitable growth in FY24,” adds Stiassny. 

“Blair leaves the business well-positioned to enter its next growth phase. The board wishes him well in his future endeavours.” 

Turnbull says it had been a privilege to lead Tower, which he joined after spending six years working for Aviva in the UK, and he is proud to have played a part in its history. 

“It’s been a truly exciting chapter for me and a rewarding time leading such a great team of people,” he continues. 

“Together, we have significantly transformed Tower’s customer experience by leveraging digitisation and realised marked operational efficiencies through our cloud-based platform. Our business is now sharply focused and streamlined in our chosen markets. 

“I believe the platform is solid and as such it’s an ideal juncture to pass the baton. My current focus is on sustaining our positive business momentum and ensuring a smooth transition.” 

Turnbull has plans to compete in an ultra-running race around Mt Kilimanjaro in Tanzania and spend time with family and friends before deciding his next career move. 

The Tower board says it will start a recruitment process and update the market in due course.