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We will be a formidable team: Ballantyne

Former Fidelity Life chief executive Nadine Tereora has taken on a new role with a competitor.

Tuesday, June 30th 2020, 9:00AM 4 Comments

Nadine Tereora

Nadine Tereora is joining Partners Life in the senior executive role of Chief Operating Officer. 

This significant role will support Naomi Ballantyne, Partners Life’s managing director, as she increasingly focuses her attention on Partners Life’s strategy, reputation and shareholder engagement while continuing to help shape the future of the industry.

Ballantyne says the new role is based around strategy and things like conduct and culture. All the day-to-day operational business will be performed by other staff.

She says Tereora is essentially sharing her job, and provides a "potential successor" to herself.

Ballantyne says, “Once we landed on the requirements and responsibilities of the role, it became clear that we would require someone with a unique mix of skills, experience and mana to allow me to trust that these enormously important components of our business would be in the right hands. Nadine is that person – and as we are two of the most successful chief executives in our industry, I believe we will make a formidable team.”

She says Partners and Fidelity are the two companies to challenge the big player, AIA. Fidelity still needs to grow to be a challenger. 

"That means that its only us challenging them."

In addition to her role at Fidelity Life, which she led for nearly four years as it grew to become one of Partners Life’s strongest competitors, Tereora has previously held executive roles at Suncorp/Asteron Life and AIA. She brings nearly 25 years experience in the life insurance industry and in addition to her sector and people leadership experience she has specific expertise in leading culture, conduct, claims, underwriting and operations functions.

Tereora says, “I am extremely excited to be joining Naomi and her outstanding team at this time of significant change and challenge for our industry. In thinking about my next steps I wanted to join an organisation that demonstrated its strong commitment to the life insurance industry and was serious about doing the right thing by its customers, advisers and staff.

"This role provides a unique opportunity to join forces with an equally passionate industry advocate in Naomi. I have huge respect for Partners Life’s ongoing achievements in growth, innovation and brand. I’m extremely excited to be working alongside her and the broader team to play my part in shaping Partners Life’s future legacy.”

Ballantyne says, “Nadine is highly regarded by her peers across the life insurance industry and is adored and admired by the many staff she has led. I am extremely honoured that someone of Nadine’s experience and reputation has recognised the unique opportunity that Partners Life has to shape and lead a more trustworthy, resilient, and innovative industry into the future, and I am humbled that she has chosen this role as the best way for her to fulfil her own significant ambitions for the industry that she is so passionate about.

"I appreciate what a brave decision she has made in taking this career step – and bravery is something I respect enormously. I have every confidence that Nadine will find her exact career fit within Partners Life.”

She will assume the role in early 2021.

Tags: Partners Life

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Comments from our readers

On 30 June 2020 at 10:31 am Do what is right said:
I am certainly surprised by this move and like all advisers, knew the sudden departure from Fidelity had more behind it that we were told. Nadine is very good but I am disappointed that money is her priority, as I believed she had more to offer than this move suggests.
On 1 July 2020 at 9:45 am Bikedude said:
Great. Now Partners Life will be more Asteron than Asteron. Fidelity Life didn't fare very well. I watch with interest. On a brighter note Cigna have raised their profile and product suite to enter the full scale market
On 2 July 2020 at 1:37 pm Fair deal said:
Interesting partnership. By saying Nadine had taken Fidelity to be Partners Life's strongest competitor, then saying Fidelity cannot be a AIA challenger. AIA then surely must be a strong competitor as they need a formidable team to challenge them. Further to that - they are 2 of the most successful CEO's of the insurance industry - is a broad statement, based on what assumptions. There are always 2 sides to every story and then the truth lies in the middle. Waiting to see where all the dominoes fall once all the dust settles.
On 3 July 2020 at 8:36 am Backstage said:
Love that the article, Latest Headlines is sponsored by Fidelity Life :)oops

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