New Zealand Home Loans (NZHL), a network offering home loan and insurance advisory services, has appointed Paul Barnes as its new general manager for franchise and distribution, effective June 30.
The role will involve leading the company’s national franchise network, managing relationships with key suppliers, and steering partnership strategy.
Barnes has held a series of operational and compliance leadership roles within NZHL, most recently as general manager of operations, risk and compliance. He has also operated as a local NZHL business owner and was formerly the managing director of a Wellington-based financial services firm.
NZHL chief executive Kip Hanna said Barnes’s experience within the company and broader financial services sector will help strengthen support for advisers.
“Paul’s knowledge, experience, and skill set make him ideally suited to support our advisers in growing their local businesses and help put more New Zealanders in a better financial position,” he said.
In accepting the position, Barnes said he looks forward to working with advisers to ensure client advice is aligned with their individual financial goals..
“Our approach considers each client’s unique goals and ensures they’re protected with the right insurance solutions,” he said. “I’m looking forward to working closely with our advisers, suppliers, and partners to continue delivering exceptional client outcomes with a growth mindset.”
Along with Barnes’s appointment, NZHL confirmed a reshuffle in other leadership functions.
Michael Beattie will expand his portfolio to include quality assurance responsibilities within risk and compliance, while continuing to oversee strategy.
Janelle Ericksen will now lead the marketing, brand, and communications functions.
NZHL said the changes are designed to position the business for future expansion while maintaining a focus on adviser support and client service.
The announcement comes amid strong growth forecasts for the country’s general insurance market.
Research by GlobalData projects a compound annual growth rate of 8.3% for the New Zealand sector, with gross written premiums expected to reach $16.3 billion (US$9.6 billion) by 2029.
Property and motor insurance are forecast to drive much of this expansion, comprising a projected 74.7% share of the market in 2025.
The general insurance sector is expected to grow by 10.3% in 2025 alone, with property and motor lines both forecast to grow at over 10%.
Property insurance is anticipated to account for 42.3% of general insurance premiums in 2025. Higher construction costs and the repricing of reinsurance coverage, as global reinsurers reassess New Zealand’s climate risk exposure, are among the key drivers of this trend.
Ongoing impacts from extreme weather events between 2021 and 2023 also continue to influence premiums. The property insurance loss ratio rose from 69.1% in 2022 to 96% in 2024, reflecting elevated claims and rebuild expenses. While 2024 experienced fewer major events, insurers remain cautious amid continued climate risk.
GlobalData senior insurance analyst Swarup Kumar Sahoo noted that carriers are refining pricing to reflect risk more closely. He added that property premiums are projected to rise at an average annual rate of 8.6% between 2025 and 2029.
