Monday, April 22, 2024

Insurance stalwart to step down after eventful tenure

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Tim Grafton signals intention to quit top job at Insurance Council of NZ.
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Head of the national insurance council Tim Grafton is calling time after leading the industry body through almost 100 major insured events.

The chief executive of the Insurance Council of New Zealand, Te Kāhui Inihua o Aotearoa (ICNZ), Grafton has signalled his intention to step down from the role next year.

After almost 12 years of service to ICNZ, he said, it’s time to explore new opportunities following the organisation’s annual meeting in April 2024.   

ICNZ president Toni Ferrier said Grafton has capably led the industry body through 96 major insured events in the NZ general insurance sector, ranging in size from just over $1 million up to the current weather events that are on track towards $4 billion in insurance payments. 

His tenure has included the Canterbury earthquakes, the Kaikoūra earthquake, major floods, tornadoes, fires and cyclones. 

He has also led the industry’s engagement with the government to modernise and strengthen NZ’s insurance legislation and regulation.

“The ICNZ board is grateful for the contribution that Tim has made to the industry over many years and will be looking to recruit a new chief executive officer who will be as committed to the future of Aotearoa NZ, the community and the general insurance sector as Tim has been,” Ferrier said.

Meantime, Grafton has undertaken to ensure a smooth transition to a new chief executive for his team and the industry body. 

He will also continue in his role as the vice-president of the Global Federation of Insurance Associations until he leaves ICNZ.

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