It said Tereora had indicated she wanted to spend more time with her family and this would be her final week at Fidelity Life.

Fidelity Life chairman Brian Blake said he was disappointed to lose Nadine after three-and-a-half years.

“During Nadine’s tenure as CEO Fidelity Life secured a $100 million cornerstone investment from the NZ Super Fund, won the ANZIIF New Zealand Life Insurance Company of the Year Award for three consecutive years and maintained our position as New Zealand’s largest locally owned life insurer.

“I’d like to thank Nadine for her service and wish her and her family all the very best for the future.”

Blake emphasised Fidelity Life was in good shape: “We have a strong team, we’re in a strong financial position and we’re well-placed moving forwards.”

The challenges posed by Covid-19 had been navigated well so far, and the company’s transformation strategy was tracking well, with the recent launches of a refreshed brand and new wellbeing app, Sharecare, being great examples.

Fidelity Life’s board will commence the search for a new chief executive immediately. In the meantime, chief distribution officer Adrian Riminton and chief financial officer Simon Pennington have been appointed as joint acting CEOs to provide continuity for Fidelity Life’s people, as well as for customers, advisers and partners.

“We remain firmly focused on a successful and sustainable future with our customers at the heart of everything we do,” Blake said.