Paul Johnston will join the company in January, subject to completion of the regulatory approvals process, after leaving Chubb, one of the world’s largest publicly traded property and casualty insurance companies where he is currently the chief financial officer and director of the company’s Far East Region.

Johnston joins Tower in January, replacing outgoing CFO Jeff Wright who ends his tenure on December 31.

Johnston was previously Chubb's financial controller for the European region and before that spent four years at AIG, including as a global finance director of personal insurance, based out of the UK.

Tower chief executive Blair Turnbull says Johnston is an internationally experienced finance professional with more than 15 years of high-level experience in the insurance and financial services sectors.

"He has extensive strategic and operational finance experience, and we are delighted that he is joining the Tower team.”

Johnston’s experience is predominately in general insurance but also includes the complexities of reinsurance, regulation and reporting.

He says he's long admired Tower for its technology and data advantages and customer focus.

"Tower’s very solid capital and solvency position combined with its strong growth strategy will position us well to continue delivering sustainable shareholder value in the future,” he says.