Tower has appointed Australian Prudential Regulation Authority (APRA) General Manager Sharyn Reichstein as its new Chief Risk Officer.

Ms Reichstein currently serves as the General Manager of General Insurance at APRA. She is also the Chair of APRA’s General Insurance Industry Group.

Tower CEO Blair Turnbull praised Ms Reichstein for her financial risk management and corporate governance experience.

“Sharyn’s expertise will further accelerate our ambition of creating more simple, fair and transparent services to suit the modern needs and lifestyles of our customers,” Mr Turnbull said.

The New Zealand-based insurer says Ms Reichstein will begin her role in July, taking over from Acting Chief Risk Officer James Brownell.