MLC Life adds parent exec to board

MLC Life Insurance has bolstered its leadership team by appointing a parent company executive to the board and executive team.

Koji Ichiba joins the local insurer from Nippon Life's Tokyo office, where he most recently served as general manager of overseas life insurance.

In this role, he was responsible for financial performance and oversaw risk management for Nippon's global insurance businesses.

Joining Nippon Life Insurance in 1993, Ichiba has held numerous roles across the business, including chief executive of Nippon Life Asia Pacific and executive vice president for Reliance Life Assurance in India.

Ichiba replaces Tomonao Gotoda, who is returning to Tokyo to take up a new leadership position within the group.

During his tenure, Gotoda oversaw the separation of MLC Life from National Australia Bank and steered the insurer through the pandemic.

MLC Life chief executive Kent Griffin pointed to the significance of Ichiba's appointment.

"This appointment is a sign of the close working relationship between Nippon and MLC Life and the commitment that Nippon has to the ongoing success of our business in the Australian market," he said.

"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."

Nippon Life managing executive officer Minoru Kimura highlighted the importance and future of life insurance in Australia, adding that MLC Life is integral to Nippon'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."

For his part, Ichiba said he is keen to contribute to the development of the company and the Australian life insurance industry by bringing his international experience to the role.

"MLC Life Insurance is an important part of the Nippon Life Group and this is a critical time for the industry to deliver for customers following implementation of the Albanese Government's reforms to improve the access by all Australians to quality advice."

Griffin acknowledged Gotoda's contribution to the insurer.

"Gotoda-san has been a highly respected member of our executive team, a member of the 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."