New boss for insurance council

The Insurance Council of New Zealand (ICNZ) has appointed former cabinet minister Kris Faafoi as its next chief executive and he will take up the role from April 7 this year.

Faafoi, pictured, was a Labour MP from 2010 to 2022 and will replace Tim Grafton in the top post at the insurance industry lobby group.

Amanda Whiting, ICNZ president and IAG NZ chief executive officer, says: “I’m delighted we are able to appoint someone of Kris’ calibre who has a track record of demonstrated leadership together with extensive experience and understanding of the machinery of government and the financial sector.

“Kris Faafoi is well known to many New Zealanders – he has a strong background in media, has served as a minister, having responsibility for many portfolios over his political career, and most recently has been running his own consulting business.

“Kris will bring strong relationship-building capability, global knowledge and an approach that will support the industry to build on its already strong reputation.”

During his political career, Faafoi served in Labour-led governments from 2017-2022 as a minister for broadcasting, civil defence, commerce, consumer affairs, customs, immigration and justice.

Most recently he has been running his own consulting business and says he is looking forward to joining the ICNZ after what he describes as a challenging 12 months for insurers. 

“I’m looking forward to leading the industry through the next period, focusing on influencing for a sustainable industry, and, more importantly, ensuring that New Zealanders can continue to protect the things they love when disaster strikes,” adds Faafoi.

Whiting notes Grafton, who has been ICNZ chief executive since 2012, has made a significant contribution to the insurance industry “that cannot be underestimated”. 

“I have no doubt that when the time comes to farewell him there will be many across the industry, and broader stakeholders, that will want to recognise this and wish him well,” she adds.