Minerva to take over running PIS

Maurice Trapp's insurance group Minerva is to take over running PIS in New Zealand following the resignation of PIS general manager, David Keys.

Friday, March 12th 2010, 12:07PM

Keys resigned for personal reasons and will return to Australia.

PIS formed a joint venture with Minerva in November. PIS has asked the executive directors of the Minerva Group to take on the day to day management of both groups.

Minerva general manager, Brent Wright will extend his role to be general manager of both groups. Minerva chairman, Maurice Trapp will work closely with Wright in an advisory capacity.

Wright has 17 years industry experience (nine years as a financial adviser and eight years within the corporate insurance environment).

Trapp is well-known throughout New Zealand as the coach of New Zealand's most successful provincial rugby team, Auckland. He is an insurance specialist, and his business has developed to become one of the largest and most successful independent brokerages in New Zealand. Two years ago, Trapp launched Minerva, a distribution group of 45 independent insurance advisers.

The shared vision of the two businesses is to be the leading distributor and developer of business insurance and financial advice. It intends to achieve this through its unique relationship with the accounting profession.

Combining the day-to-day activities of the two Group's will allow PIS NZ to leverage from the skills and local knowledge of Brent and Maurice. The joint venture aims to become outright leader in financial adviser development in New Zealand and together we will continue to look for further opportunities to extend its growth.

Keys' last day March 19.

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