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New Chief Executive for Civic Assurance

New Chief Executive for Civic Assurance

27 August 2004

Mr Tim Sole has been appointed as Chief Executive of the New Zealand Local Government Insurance Corporation (trading as Civic Assurance).

“We are very pleased to confirm Tim’s appointment,” said Ian Lawrence, spokesperson for the Civic Board of Directors.

“Tim brings to the role many years of experience in the insurance and financial sectors, having held previous positions as Chief Executive of Royal and Sun Alliance Life, State Insurance and Public Trust. We look forward to working with Tim to maintain the company’s financially secure position and its strong claims paying ability rating – AM Best – A Excellent.”

Mr Sole’s appointment follows the announcement several months ago that Rod Mead would be stepping down after 15 years as the company’s General Manager.

Civic Assurance provides insurance and associated risk financing facilities for local government organisations. Wholly-owned by New Zealand local authorities, Civic Assurance is the largest insurer of ratepayer owned assets in New Zealand, currently insuring New Zealand owned assets exceeding NZ$5 billion. Last year, the company’s premium income topped $15 million.

Tim takes up his role with Civic Assurance on 4 October 2004.

ENDS


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