MLC Life Insurance snaps up parent company's executive to bolster board

MLC Life Insurance snaps up parent company’s executive to bolster board | Insurance Business Australia

Life & Health

MLC Life Insurance snaps up parent company’s executive to bolster board

Previous board member moves into parent role

Life & Health

By
Roxanne Libatique

MLC Life Insurance (MLC Life) has enhanced its leadership team by appointing Koji Ichiba (pictured), an executive from Nippon Life Insurance (Nippon Life), as its board director and executive team member, effective March 25.

The move reflects the partnership between MLC Life and its principal shareholder.

MLC Life CEO Kent Griffin highlighted the significance of Ichiba’s appointment.

“MLC Life Insurance is a part of the Nippon Group and its largest business outside of Japan,” he said. “This appointment is a sign of the close working relationship between Nippon Life and MLC Life, and the commitment that Nippon Life has to the ongoing success of our business in the Australian market.

“I’m delighted to welcome Koji Ichiba to MLC Life Insurance, and I know the broader business looks forward to working with Ichiba-san as well.”

Minoru Kimura, director and managing executive officer for Nippon Life Insurance Group, added: “We believe in the importance and future of life insurance in Australia, and MLC Life Insurance is an integral part of Nippon Life Insurance’s international growth strategy. We are delighted Ichiba-san will be able to bring his unique expertise and significant international experience to MLC Life Insurance at this important time, as part of this critical partnership.”

Who is Koji Ichiba?

Ichiba transitions to MLC Life from his role at Nippon Life’s headquarters in Tokyo, where he served as the general manager of overseas life insurance. In this position, he was tasked with managing the financial health and overseeing risk management strategies across Nippon Life’s international insurance ventures.

Ichiba’s tenure at Nippon Life, starting in 1993, has provided him with a wealth of experience through various leadership roles in different countries, including Thailand, Singapore, and India.

Tomonao Gotoda moves to Nippon Life Insurance Group

Ichiba steps into the role previously held by Tomonao Gotoda, who is set to return to Tokyo for a new leadership position within the Nippon Life Insurance Group.

During his tenure, Gotoda played a role in navigating MLC Life through significant milestones, including its separation from National Australia Bank and steering the company through the challenges posed by the global pandemic.

Griffin praised Gotoda’s contributions and acknowledged his lasting impact on the company.

“Gotoda-san has been a highly respected member of our executive team, a member of the MLC Life Insurance board, and his contribution over the past five years has been enormous and will have a lasting impact,” he said. “He will be greatly missed both personally and professionally.”