Former NZX boss Tim Bennett appointed to Partners Life board

Tuesday 19th December 2017

Former NZX chief executive Tim Bennett has joined the board of life insurer Partners Group Holdings, replacing former chair Sam Knowles.

The appointment was effective yesterday and comes a month after the life insurer tapped Datacom director Julie Fahey to the board. Partners Life's board is rounded out by chair John Minto, the former Tower Australia chief executive rather than the high profile New Zealand activist, founders Naomi Ballantyne and Richard Coon, professional director Joanna Perry, Maui Capital head Paul Chrystall, Waterman Capital partner Lance Jenkins and Blackstone nominee Kishore Moorjani.

"Tim Bennett’s unique skills and experiences across many industries and markets will be invaluable as we drive Partners Life onwards on its journey to become the most valuable and valued life and health insurer in the New Zealand market," Minto said in a statement. "Sam Knowles has made a great contribution, especially as chair of Partners Life, leaving the company in a strong state. We really appreciate his contribution."

Bennett left NZX at the end of the last year, having replaced Mark Weldon in 2012. Under his watch, there was a spike in listings, driven in part by the previous government's partial privatisation programme, and an expansion of derivative products and the stock market operator's funds management business.

Last year, Partners Group Holdings, the immediate parent of Partners Life, entered into a $200 million investment with US private equity firm Blackstone.

The insurer was launched in 2011 by Ballantyne, who was made an Officer of the New Zealand Order of Merit in the 2016 New Year Honours. Partners Life is the third life insurer she's helped establish, having been one of the initial employees of Sovereign, now owned by AIA Group, and ClubLife, now owned by ANZ Bank New Zealand as OnePath Life.

(BusinessDesk)

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