Stewart takes over reins at ACC

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Former AXA boss and AMP director Ralph Stewart has been made the new chief executive of the Accident Compensation Corporation.

Tuesday, August 23rd 2011, 7:22AM 3 Comments

Stewart is to take up the CEO role in September, three months earlier than anticipated, and replaces Dr Jan White.

Stewart sits on two AMP boards and was the CEO of listed insurance firm AXA New Zealand before it was sold to AMP Insurance in March this year.

ACC is one of the largest fund managers in New Zealand and does some work with advisers in the insurance sector.

Opposition politicians have criticised Stewart's appointments, alleging it foreshadows a move by the government to privatise the business.

The government did, in June, release consultation papers on its plans to privatise the corporation.

Labour ACC spokesman Chris Hipkins says it looks like the government wants to run ACC as an insurance firm rather than a social services provider.

Stewart had 27 years' experience in insurance and asset management. He was deputy chair of the Investment Savings and Insurance Association.

ACC chairman John Judge says Stewart has the experience and ability to continue ACC's success.

"ACC is committed to delivering world class work place insurance and accident rehabilitation services. With the team at ACC, Ralph will continue the successful work completed to date to build ACC into a stable enterprise all New Zealanders can depend on."

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