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Tower Limited, a financial services firm incorporated in New Zealand, has revealed the appointment of Len Elikhis as its Chief Financial Officer, effective 2 November 2026, pending regulatory approvals. Elikhis brings a wealth of expertise in life and health insurance, finance, actuarial management, and business transformation, gained from roles in both established and rapidly growing financial services companies. This strategic hire supports Tower’s ongoing efforts to enhance its customer offerings and drive long-term shareholder value under CEO Paul Johnston’s leadership.
Key Highlights
- Tower Limited (TWR) appoints Len Elikhis as Chief Financial Officer, subject to regulatory clearance.
- Elikhis joins from PPS Mutual, where he was Chief Financial and Operating Officer since 2023.
- The CFO role officially begins on 2 November 2026.
- Simon Hoole is acknowledged for his service as Interim CFO during the transition.
- Elikhis is a Fellow of both the New Zealand Society of Actuaries and the Institute of Actuaries of Australia.
Len Elikhis’ Extensive Leadership in Insurance and Financial Services
Len Elikhis has held senior leadership positions throughout the financial services and insurance sectors. Most recently, he served as Chief Financial and Operating Officer at PPS Mutual starting in 2023, where he led the launch and establishment of the insurer’s New Zealand operations. This role highlights his strong capabilities in strategic planning, execution, and operational management during significant organisational growth and transformation.
Before PPS Mutual, Elikhis held executive roles at AIA New Zealand and Sovereign, two prominent insurance and financial services providers. He holds Fellowships with the New Zealand Society of Actuaries and the Institute of Actuaries of Australia, reflecting his advanced expertise in actuarial science, risk management, and insurance mathematics. These credentials complement his executive experience, underscoring his technical and leadership strengths.
Tower Limited’s Market Strategy and Positioning in New Zealand Insurance
Incorporated in New Zealand, Tower Limited operates within the insurance and financial services markets across Australasia. The company focuses on life and health insurance products, prioritising customer-centric service and prudent capital management. Under CEO Paul Johnston’s guidance, Tower aims to strengthen its customer value proposition while delivering disciplined shareholder value growth.
Elikhis’ appointment as CFO aligns with Tower’s commitment to bolstering financial and operational leadership amid strategic growth. The CFO role encompasses critical responsibilities such as capital management, pricing, investments, and financial planning — all vital for regulatory compliance and competitive positioning in the insurance sector.
Regulatory Approval and Transition Timeline for New CFO
Len Elikhis’ appointment is contingent on regulatory approvals, a standard prerequisite for senior financial appointments in New Zealand’s financial services industry. Tower has confirmed Elikhis will start on 2 November 2026, assuming all regulatory conditions are met, though no specific timeline for approval has been disclosed.
Simon Hoole, who has served as Interim CFO during the recruitment and transition phase, received public thanks from CEO Paul Johnston for his contributions. While details of Hoole’s interim tenure and the handover process remain undisclosed, such transitions typically ensure continuity in financial oversight and strategic planning.
CEO Paul Johnston Highlights Strategic Importance of CFO Appointment
CEO Paul Johnston described Elikhis’ appointment as a strategic enhancement to Tower’s leadership team. Johnston emphasized Elikhis’ commercial insight, growth delivery experience, and strategic leadership as key assets. The CFO’s role is integral to advancing Tower’s priority of strengthening its customer proposition through coordinated efforts across product development, pricing, distribution, and customer experience.
Johnston also noted that Elikhis’ financial leadership will be pivotal in supporting Tower’s long-term shareholder value creation through disciplined capital allocation, investment strategy, and regulatory compliance — all essential in the insurance industry.
Elikhis’ Perspective on Tower’s Strategy and Growth Potential
Len Elikhis expressed confidence in Tower’s "compelling strategy, a track-record of disciplined execution and a customer-focused culture." His remarks indicate strong alignment with Tower’s strategic direction and operational approach, highlighting trust in existing management and capital allocation processes.
He conveyed enthusiasm about joining "the ambitious Tower team" to lead its "next phase of growth," emphasizing a growth strategy grounded in disciplined capital deployment and operational excellence, consistent with sustainable and profitable expansion in the regulated financial services sector.
Comprehensive Financial Services Expertise Across Key Functions
Elikhis’ background spans critical areas including life and health insurance, finance, actuarial science, capital management, pricing, investments, and business transformation. This diverse expertise aligns with Tower’s needs for actuarial precision, pricing discipline, and capital efficiency. His experience in business transformation suggests prior involvement in operational restructuring and strategic repositioning initiatives.
His Fellow status in both New Zealand and Australian actuarial societies confirms his advanced professional qualifications and adherence to rigorous standards, complementing his executive roles at PPS Mutual, AIA New Zealand, and Sovereign across various market scales.
Transition from Interim to Permanent CFO Leadership at Tower
Simon Hoole’s interim CFO tenure bridged the period before Elikhis’ appointment. Though specific dates and transition details were not disclosed, Tower’s public recognition of Hoole’s service reflects a smooth and professional handover process. The permanent CFO appointment signals stability and clarity in Tower’s executive leadership and strategic direction.
The regulatory approval remains pending, with no indications of delays or concerns, supporting a seamless transition to Elikhis’ leadership.
Competitive Landscape of New Zealand’s Insurance Sector and Tower’s Position
Tower Limited competes in New Zealand’s insurance market, which includes life and health insurance amid regulatory oversight by the Financial Markets Authority and Reserve Bank of New Zealand. The sector features capital adequacy requirements, consumer protections, and competition from established domestic and international insurers. Market concentration favors larger incumbents with scale advantages.
Tower differentiates itself through a customer-focused culture and disciplined execution rather than competing solely on scale. Elikhis’ prior experience with large insurers and new market entries equips him to enhance Tower’s financial discipline, capital efficiency, and strategic allocation, strengthening its competitive stance.
Professional Credentials and Regulatory Recognition in Australasia
Len Elikhis holds Fellowships with the New Zealand Society of Actuaries and the Institute of Actuaries of Australia, reflecting advanced qualifications and ongoing professional development in both countries. These designations require extensive experience, demonstrated competence, and adherence to ethical standards.
For Tower, operating primarily in New Zealand but with potential Australian interests, Elikhis’ dual accreditation provides recognized professional credibility and regulatory confidence. His qualifications reinforce his commitment to ethical and technical excellence in insurance financial management, critical for stakeholder trust and regulatory compliance.
