Suncorp New Zealand has appointed Beckie McCleland (pictured) as its new chief risk officer, giving her responsibility for enterprise-wide risk management across its intermediated and direct operations. The appointment follows a recruitment process concluded earlier this year, with McCleland expected to start in late May. The role covers operational, regulatory, and conduct risk, as well as oversight of risk frameworks that support Suncorp New Zealand’s general insurance and joint venture interests.
Chief executive Jimmy Higgins said the company was seeking risk capability that reflects changes in technology and supervisory expectations in the local market. “With the shift to a more automated AI industry and focus on uplifting New Zealand’s overall risk culture, it was important to find someone with a good depth of experience in this space. Beckie’s credentials reflect the role we need to play in the industry moving forward, and we were lucky she was interested in returning to New Zealand,” Higgins said.
McCleland has held senior risk and compliance roles in financial services in both Australia and New Zealand. Her previous positions have covered first line (business-owned) risk and second line (independent oversight) functions, giving her experience with day-to-day risk decision-making as well as challenge and assurance. Her work has included governance, operational risk, regulatory change programs, and customer-facing financial advice.
In prior roles, McCleland has been recognised for a practical, business-aligned approach to risk and for building effective and scalable frameworks, simplifying complexity, improving processes, and working constructively with boards and executive leadership teams. The appointment comes as New Zealand insurers manage regulatory change around conduct and financial advice, evolving governance expectations, and ongoing exposure to large weather-related events. CRO functions are increasingly involved in areas such as capital allocation, product design, and technology programmes, in addition to traditional risk oversight.
McCleland’s arrival follows a previously announced change in board leadership at Suncorp New Zealand’s intermediated businesses, Vero Insurance New Zealand and Vero Liability. In August 2025, Suncorp New Zealand said that David Flacks would retire from the boards of both companies after six years as chair and 12 years as a director. Rob McDonald, already a director on the Suncorp New Zealand boards, assumed the chair role from Sept. 1, 2025. Higgins cited Flacks’s role in the insurer’s direction over more than a decade. “David’s insight and strategic thinking have helped shape our business into the strong and future-focused organisation it is today. He has been instrumental in guiding our strategy and ensuring we are positioned to meet the challenges of a changing environment. David departs with the respect and gratitude of the entire Suncorp team,” he said at the time.
On Feb. 18, 2026, Suncorp New Zealand released its financial results for the six months to Dec. 31, 2025. The insurer reported net profit after tax of $221 million and gross written premium of $1.412 billion, a decline of 5.6% compared with the prior comparable period. Higgins said the HY26 result reflected a combination of operational settings and changes in the cost environment. He pointed to the impact of input prices on the business, particularly in claims. “The first six months of the 2026 financial year saw greater stability in both inflation and the global reinsurance market. Together, these factors have contributed to the company’s solid financial performance and enabled us to continue to focus on better serving customers,” he said. The half year also included several major weather events across New Zealand, including events in January 2026. Higgins said these events continued to test claims processes and reinsurance arrangements. “We’re committed to being there for customers around the country in the moments that matter, processing, and paying claims quickly so they can get back on their feet after periods of disruption,” he said.
Higgins noted that cost-of-living pressures were affecting households and businesses and said the company was monitoring affordability across its portfolio. “We know many New Zealanders are concerned about affordability, and we’re committed to keeping insurance accessible over the long term. This country has a well-established and competitive insurance market, which plays an important role in creating choice and value for customers. Over recent months, many policy holders have faced either a reduction in premiums or significantly lower increases than we’ve seen in the past few years, which will help to ease pressure on budgets,” he said.
Higgins added that Suncorp New Zealand was continuing to invest in core systems that support its intermediated and direct channels. “We are investing heavily to modernise our core IT systems so we can better serve customers and brokers. These efforts will help improve service, speed up claims, and lay the foundations for sustainable growth over time,” he said. Suncorp New Zealand operates intermediated businesses Vero Insurance and Vero Liability, which distribute via a broker network. It also has a direct-to-customer presence through AA Insurance, a joint venture with the New Zealand Automobile Association. The group employs more than 950 staff across 13 offices nationwide.
