Armstrong, the acting executive general manager for NZI, will retire on May 31.
IAG New Zealand’s chief executive Craig Olsen said Armstrong had enjoyed a long and rewarding career, starting with NZI in 1971. During his nearly five decades with the company, Armstrong won Insurance Leader of the Year and led NZI to multiple wins as Intermediated Insurer of the Year.
Armstrong subsequently took on responsibilities in risk and underwriting on behalf of IAG and was instrumental in the handling of the IAG insurance response to the Canterbury and Kaikōura earthquakes.
Last year, he was awarded the prestigious ANZIIF Lifetime Achievement award.
“Karl’s contribution to IAG and the insurance industry has been remarkable,” Olsen said. “I wish Karl all the best and thank him sincerely for his dedication, contribution and willingness as a leader to always encourage and mentor others within our company and the wider industry.”
Following his retirement, IAG also announced the appointment of Garry Taylor as the new executive general manager for NZI. Taylor will take up the role on May 01.
Taylor has been with IAG for more than 25 years, holding various management positions in sales, broker account management, commercial underwriting and claims, including his most recent position as the general manager of claims operations.
“I look forward to Garry’s leadership of NZI and our broker partnerships,” Olsen added.