Chubb Life New Zealand says Paula ter Brake will become CEO on May 5, replacing the retiring Gail Costa.

Ms ter Brake, whose appointment is subject to regulatory clearance, was most recently IAG New Zealand’s consumer brands EGM, managing a portfolio that included retail brands and bank partnerships.

Before IAG, she held leadership roles at Tower Insurance, First Citizen Asset Management and GE Money.

Chubb Life chair Paul Brock said: “Paula’s proven track record in driving growth along with transforming large businesses will bring real value to our customers, partners and our people.

“She is recognised for her dynamic leadership style and success in driving strategic initiatives, and will play a key role as we continue the growth and success of our business.”