Fidelity Life promotes from within for critical Appointed Actuary role.

Fidelity Life promotes from within for critical Appointed Actuary role.

Media release

28 July 2022

New Zealand’s largest locally owned life insurer Fidelity Life has appointed Chris Marston-Fergusson to the key role of Appointed Actuary (AA); a position unique to licensed insurers under the Insurance (Prudential Supervision) Act.

The internal promotion has seen Chris step up from his duties as Senior Actuary – a position he’s held at Fidelity Life since 2019 – and he brings with him more than 20 years’ actuarial experience including five years in the United Kingdom, and local roles at ANZ and AMP.

Chief Financial Officer Simon Pennington says it’s been a huge advantage to promote internal talent, especially amid a country-wide skills shortage and during a time of significant change for the company and industry.

“As we work through the ongoing regulatory and legislative changes to our sector and continue the integration of Fidelity Insurance (previously Westpac Life) following our acquisition of the business in February, the strategic importance of the AA is more important than ever. “

“I’ve had the pleasure of working with Chris in a number of roles and have always been amazed by his technical skills and ability to translate complex situations and terminologies with ease. I’m thrilled to have him in the AA role, helping keep us accountable, and ensuring the business is well equipped to protect New Zealanders over the long term.”

The in-house promotion comes as Fidelity Life’s former AA, John Smith, steps back after 22 years in the role to spend more time with family. 

“John has been central to the company’s evolution and has seen the business through some very complex projects such as the acquisition of Tower’s books in 2013 and more recently, Westpac Life.”

“We will forever be grateful for John’s enormous contribution and thank him for all his hard work over the last two decades,” concludes Simon.   

While John Smith officially stepped down as Fidelity Life’s AA last month, he will remain in the business as a Senior Consulting Actuary and will continue to support the team with various project work.

Chris Marston-Fergusson took up the AA position from 1 July 2022 and will continue his role on the New Zealand Society of Actuaries’ Life Insurance Committee.