Acenda Group says experienced leader Barbara Chapman will become chair of Asteron Life New Zealand next month.

Ms Chapman is currently a director at Bank of New Zealand and was formerly CEO of ASB Bank.

Acenda says the appointment comes in preparation for its move to combine Asteron Life and Resolution Life New Zealand into a single entity, subject to regulatory approval.

“The combined entity intends to operate under the Acenda Life New Zealand brand.”

Nippon Life-backed Acenda acquired Resolution Life last year, including the Asteron business in New Zealand that was previously owned by Suncorp.

Current Asteron Life chair Simon Tyler will remain a board member.

Acenda Group chair Craig Dunn says the full board composition will be established as part of the transition to Acenda Life New Zealand next year.

“Nippon Life brings global scale, deep insurance expertise and long-term financial strength to our business as we look to establish Acenda Life in New Zealand,” Mr Dunn said. “Nippon Life’s significant investment in our region reflects a clear commitment to New Zealand and gives Acenda Life strong foundations for the future.”