Former Cabinet Minister Kris Faafoi named Chief Executive of ICNZ

Faafoi to become the new Chief Executive in April, following Tim Grafton's departure.

The Insurance Council of New Zealand (ICNZ) has announced the appointment of Kris Faafoi as its new Chief Executive, effective April 2024.

Faafoi, a former Cabinet Minister with a notable media and political background, will succeed Tim Grafton who will step down from his role in April.

A four-week handover period is planned for early March to facilitate a smooth transition.

Amanda Whiting—who was this week also announced as President of ICNZ and is CEO of IAG New Zealand—commented, “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.”

Faafoi provided his perspective on the new role: “It’s been a challenging 12 months for insurers. I’m looking forward to leading the industry through the next period, focussing on influencing for a sustainable industry, and, more importantly, ensuring that New Zealanders can continue to protect the things they love when disaster strikes.”

Whiting also took the opportunity to acknowledge the outgoing Chief Executive, Tim Grafton, for his ‘significant contribution’ to the insurance industry. “I have no doubt that when the time comes to farewell him there will be many across the industry, and broader stakeholders, that will want to recognise this and wish him well,” she said.

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