• subs-bellGet the latest news! Subscribe to the ifa bulletin

Former Millennium 3 boss joins New Zealand company

The former boss of ANZ-owned Millennium 3 has taken up a key role at a large New Zealand financial services and life insurance company.

Richard Klipin has been appointed chief distribution officer with Sovereign Assurance Company, based in Auckland. He starts in his new role on 9 November.

Mr Klipin recently departed Millennium 3 Financial Services – where he served for three years as chief executive – following a restructure of the business.

"I had the privilege of leading Millennium 3 on a journey of transformation and leadership succession," he said.

"I'm proud of the progress we made as we transformed the business, culture and community of Millennium 3 and set up a platform for growth in a challenging environment.

"Millennium 3 is a fantastic business with some of the best advisers and most evolved business models in the country," Mr Klipin said.

"It was a pleasure to work closely with so many of them and I wish them and the business well in their future endeavours."


In a statement, Sovereign Assurance was described as New Zealand's largest life insurer, with 29 per cent market share of in-force premiums.

"Sovereign Assurance is leading change and innovation in the New Zealand insurance industry by growing the market, making a more meaningful difference to the lives of customers and achieving greater impact in the community," Mr Klipin said.

"It's a fantastic opportunity to be part of their leadership team, driving transformation and growth within the New Zealand financial services market."