Paul Johnston has been appointed CEO at New Zealand insurer Tower. 

He took the job on an interim basis after Blair Turnbull departed in February and has shown a “clear commitment to advancing the company’s performance” and proven to be “an invaluable asset”, the business says.

Mr Johnston joined Tower as CFO in January 2022, moving from Chubb. He previously spent four years at AIG in senior management positions.

“After conducting an extensive executive search, it became clear that Paul’s considerable international experience and strong performance as Tower’s CFO uniquely qualify him to lead Tower into the future,” chairman Michael Stiassny said.

“Paul’s strategic and operational experience, together with his sharp focus on insurance profitability and adept navigation of recent complex and challenging market conditions, positions him as the ideal candidate to drive Tower’s continued success.”

Angus Shelton is standing in as CFO while a replacement for Mr Johnston is sought.

Tower has also formed a partnership with Sedgwick to speed claims assessments during extreme weather events. The insurer will have access to additional support from Sedgwick’s loss adjusters across New Zealand and the Pacific region.

“We can assess damage and start the claims process faster during claim peaks, with more loss adjusting resource ready to go if needed,” Tower chief claims officer Steve Wilson said.