Life insurance provider TAL (formerly Tower Australia) has announced the departure of John de Zwart as chief financial officer (CFO) amid a period corporate change.
De Zwart held the role of CFO from 2003 onwards, including the period 2005-2006 when Tower Australia was listed on the Australia Securities Exchange (ASX) and officially separated from Tower Limited.
TAL has grown considerably in life insurance premiums since De Zwart first took on the position of CFO. It was Australia’s only specialist ASX-listed life insurance company, the life insurer stated.
TAL listed on the ASX in late 2006 valued at $500 million. The Dai-ichi Life Limited acquisition announced at the end of 2010 valued the company at approximately $1.7 billion, a very significant growth rate especially through the global financial crisis, the company stated.
“As CFO, John overviewed TAL being a listed public company through to it becoming a wholly-owned subsidiary of Dai-ichi Life in 2011,” TAL added.
TAL managing director Jim Minto also credited de Zwart with playing a key role in the success of the life insurer over the past few years.
