Former Millennium 3 boss joins New Zealand company

Richard Klipin has been appointed chief distribution officer with Sovereign Assurance Company, based in Auckland. He starts in his new role on 9 November.

Mr Klipin recently departed Millennium 3 Financial Services – where he served for three years as chief executive – following a restructure of the business.

"I had the privilege of leading Millennium 3 on a journey of transformation and leadership succession," he said.

"I'm proud of the progress we made as we transformed the business, culture and community of Millennium 3 and set up a platform for growth in a challenging environment.

"Millennium 3 is a fantastic business with some of the best advisers and most evolved business models in the country," Mr Klipin said.

"It was a pleasure to work closely with so many of them and I wish them and the business well in their future endeavours."

In a statement, Sovereign Assurance was described as New Zealand's largest life insurer, with 29 per cent market share of in-force premiums.

"Sovereign Assurance is leading change and innovation in the New Zealand insurance industry by growing the market, making a more meaningful difference to the lives of customers and achieving greater impact in the community," Mr Klipin said.

"It's a fantastic opportunity to be part of their leadership team, driving transformation and growth within the New Zealand financial services market."