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In a statement issued yesterday, TAL announced that current board director Duncan Boyle will take on this role of chair when Mr Thomas completes his term at the end of August.
Mr Boyle has served on the board since May 2014 and is a former chief executive of Royal and Sun Alliance Insurance in the UK – a role that topped off a thirty-year international career as an insurance executive.
“I am delighted to take on the role of Chair and look forward to helping TAL continue to build on its very strong foundations,” Mr Boyle said. “The Board and management would like to express our deep gratitude to Mr Thomas.”
Mr Thomas has been chair of the company since August 2007, when it was known as Tower Australia and said it has been an honour to serve in the role.
“I am very proud of the growth and results achieved at TAL over the past seven years along with the strong customer culture that has developed,” Mr Thomas said.
“In that time TAL has become the largest life insurer in Australia and it has been recognised with many awards for its products, services and performance.”