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

The New Zealand-based insurer announced today that Ms Reichstein will take over from Acting Chief Risk Officer James Brownell, with her term expected to begin in July.

Ms Reichstein currently serves as the General Manager of General Insurance at prudential regulator APRA, where she oversees supervision of the Australian general insurance industry. She is also the Chair of APRA’s General Insurance Industry Group.

“I have long admired Tower as a progressive insurer committed to doing what’s right and putting the needs of its customers first,” Ms Reichstein said.

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.