Jennings is the company’s longest standing employee after 29 years, including 14 years as chief executive.

“Over three decades Milton has seen the insurance industry evolve significantly and has played a pivotal role in growing Fidelity Life into the strong force it is today," chairman Ian Braddock says. "He is highly regarded in the wider insurance industry and his exceptional passion has been reflected in his long tenure with the organisation.”

Jennings will stay on with the company as a board adviser.

“We are fortunate to continue to benefit from Milton’s vast experience and expertise in this new advisory role, which will see him take responsibility for a number of special projects.  One of these is helping grow the advice model in New Zealand, encouraging broader participation and driving the best outcomes for advisers, consumers and the greater insurance industry.”

Jennings says he will also spend time travelling in February and March, undertaking visits around the country to advisers.

“After almost three decades I have an inherent connection to Fidelity Life and look forward to continuing my involvement with the company in a board advisory role.  Twenty nine years is a milestone and it’s time now to take up some new opportunities, including some directorships and other governance opportunities,” he says.

Jennings started with Fidelity Life in 1986 as accountant/company secretary, became general manager – sales and marketing in 1996 and was then promoted to chief executive in 2001.

Fidelity Life’s Board is undertaking an external search for a new chief executive.  In the meantime current chief financial officer Ed Eadie will assume the role of acting CEO in the New Year to cover Mr Jennings’ extended travel time away from the office.