New Zealand insurer Tower has appointed Paul Johnston as CFO, who is set to start in January, pending the completion of approvals from regulators.

He replaces Jeff Wright, who will leave at the end of the year.

Mr Johnston joins from Chubb, where he is presently CFO and Director of the insurer’s Far East region and previously financial controller for Europe.

Before Chubb, he worked for four years at AIG, including as global finance director of personal insurance based in the UK.

“[He] is an internationally experienced finance professional with more than 15 years’ senior experience in the insurance and financial services sectors,” CEO Blair Turnbull said.

“He has extensive experience and operational finance experience, and we are delighted that he is joining the Tower team.”