Changes at helm of Fidelity Life

[ Monday, 7 December 2015 ]

Changes at helm of Fidelity Life
I have announced today that as of 31 March 2016 I am stepping down as Chief Executive of Fidelity Life.

After 29 years with the company and 14 years as Chief Executive, I have seen the industry evolve significantly and Fidelity Life grow into the strong force it is today in the New Zealand financial services industry. The time is now right for me to hand over the reins and look to new personal opportunities including some governance and directorship roles.

As you all know, I am incredibly passionate about the insurance industry and after close to thirty years I have a strong loyalty to Fidelity Life. The board has asked me to stay on in an advisory capacity and I look forward to taking up this role.

I have always been a strong advocate for the advice model and one of the key projects I will continue in my new role is helping to grow this model in New Zealand. This project will encourage broader participation and help drive the best outcome for advisers, consumers and the greater industry.

I’m looking forward to helping advocate for the role of advisers, and the critical role the advice process plays in protecting consumers. After taking January off, I plan to spend time in February and March visiting many of you around the country as part of this project.

My long tenure with the company is heavy with highlights. Over the last 29 years I have seen the company grow from 12 to 280 staff and assets grow from $8 million to $800 million. We were set up as a company for advisers and that still stands true today – I have enjoyed seeing the growth of our strong adviser network and working alongside many of you during my time with the company.

The board will be undertaking a search for a new Chief Executive and you will be advised when this appointment is made. In the meantime the company is in the capable hands of Ed Eadie (Chief Financial Officer) as acting CEO and this will take effect from the New Year. Ed has taken on this role at other times when I have had extended periods out of the office.

I would like to take this opportunity to extend a warm thank you to you all for the contribution you have made to helping build this great company – I have enjoyed working alongside you. Fidelity Life has some great opportunities before it, and I look forward to watching the company’s continued success.


Milton Jennings

Chief Executive Officer

12 May 2014
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