Challenger appoints new board director
Challenger has announced the appointment of new board director Masahiko Kobayashi, effective 26 August 2019.
Kobayashi, who is based in Tokyo and has over 30 years' experience in general and life insurance, is currently director and managing executive officer of Mitsui Sumitomo Primary Life Insurance Company Limited (MS Primary), a subsidiary of MS&AD Insurance Group Holdings (MS&AD).
His appointment to the Challenger board follows the firm's expanded relationship with MS&AD. As part of the relationship, according to Challenger, MS&AD increased its Challenger shareholding to over 15% of issued capital and Challenger commenced reinsurance of US dollar-denominated annuities issued by MS Primary.
Commenting on Kobayashi's appointment, Challenger chair Peter Polson said: "I am delighted to welcome Kobayashi-san to our Board. He has extensive international and Japanese insurance experience and his appointment builds on the success of our strategic relationship with MS&AD, which commenced over three years ago. This relationship provides significant opportunities to expand our alliance and drive growth for both companies."
