The Insurance Council of New Zealand (ICNZ) board has appointed former cabinet minister Kris Faafoi as its new CEO to replace the outgoing Tim Grafton. 

Mr Faafoi will take over from Mr Grafton, whose departure was announced last year, from April 7 following a brief handover period after ICNZ’s annual general meeting.

Mr Faafoi previously served as an MP for the Mana Electorate from 2010 to 2022, where he held several ministerial portfolios for the Ardern government, including immigration, justice, and broadcasting and media. 

He says he aims to make a positive impact following a “challenging” past 12 months for the industry after the country was hit by costly wet weather events early last year.

“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,” Mr Faafoi said.

ICNZ also announced IAG NZ CEO Amanda Whiting as its new president, replacing Toni Ferrier after she was appointed country manager for Marsh McLennan, which is not an ICNZ member. Farmers Mutual Group CEO Adam Heath was appointed vice president. 

Ms Whiting says she is looking forward to working with Mr Faafoi and build on the industry’s “already strong reputation”.

“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,” Ms Whiting said.