Financial Services Council on Jacinda Ardern’s resignation

Financial Services Council on Jacinda Ardern’s resignation | Insurance Business New Zealand

Financial Services Council on Jacinda Ardern’s resignation

A lot has been said – a mixture of good and bad – following Prime Minister Jacinda Ardern’s resignation announcement. For the Financial Services Council of New Zealand (FSC), its message is simple: well wishes for the outgoing leader and a commitment to working with her successor.

In a statement, FSC chief executive Richard Klipin (pictured) told Insurance Business: “The Financial Services Council acknowledges Prime Minister Jacinda Ardern’s decision to stand down from the role, and the dedicated service she has given to New Zealand over the last five years.

“During her tenure, the Prime Minister has led New Zealanders through a unique set of challenges that will forever be remembered in our country’s history. The FSC wishes her and her family well as she takes a well-deserved break before deciding her next steps for the future.”

On January 19, the 42-year-old world leader called her time at the helm “the greatest honour” of her life and an “enormous privilege,” while disclosing what ultimately led to the decision to hand over the reins.    

“With holding such a privileged role comes responsibility, including the responsibility to know when you’re the right person to lead, and also when you’re not,” declared the Prime Minister, whose resignation will become effective when a new one is named.   

“Fresh set of shoulders”

When Ardern publicised her decision, she asserted: “I have given my absolute all to being Prime Minister, but it has also taken a lot out of me. You cannot and should not do the job unless you have a full tank, plus a bit in reserve for those unplanned and unexpected challenges that inevitably come along.

“Having reflected over summer, I know I no longer have that bit extra in the tank to do the job justice. It’s that simple.”

Ardern also shared how “incredibly proud” she is of what has been achieved over the last five years in spite of the challenges, including massive threats to Kiwis’ health and economic wellbeing.

Klipin, looking ahead, told Insurance Business: “The FSC is focused on growing New Zealanders’ financial confidence and wellbeing, but achieving this is a collaborative effort between Government, industry, regulators, and the public, and we look forward to engaging with the new Prime Minister and Cabinet to continue that work.”

The more than 100 members of the FSC include major players in the world of life, health, disability, and income insurance. According to the non-profit organisation, its members pay out nearly $3 billion in life and health insurance claims every year.

Meanwhile, as noted by the government, Ardern will remain the Member of Parliament for Mt Albert until April, while a caucus vote for a new Labour Party leader was set for January 22. The General Election is happening on October 14.

“We need a fresh set of shoulders for the challenges of both this year and the next three,” stated Ardern.  

“As to my time in the job, I hope I leave New Zealanders with a belief that you can be kind but strong, empathetic but decisive, optimistic but focused. And that you can be your own kind of leader – one who knows when it’s time to go.”

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