Challenger has announced the appointment of Masahiko Kobayashi as a non-executive director, following the expanded strategic relationship with MS&AD Insurance Group Holdings (MS&AD), announced in March.
As part of the relationship on 1 July, MS&AD increased its Challenger shareholding to over 15 per cent of issued capital and Challenger commenced reinsurance of US dollar-denominated annuities issued by Mitsui Sumitomo Primary Life Insurance (MS Primary), a MS&AD subsidiary.
Kobayashi would stand for re-election at Challenger’s 2019 annual general meeting, which was scheduled for 31 October 2019.
He had over 30 years’ experience in general and life insurance, and was currently director and managing executive officer (corporate planning, risk management and finance) of MS Primary.
Prior to MS Primary, Kobayashi held a number of executive and director roles within the MS&AD group, which included roles based in Singapore and the UK.
Peter Polson, Challenger chairman, said Kobayashi’s appointment built on the success of their 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,” Polson said.