Noel Vaughan
Noel began his hectic and all-embracing insurance life in 1960 when he joined a group of eight in Wellington to set up a branch of the National Mutual Life Association. Most of the group became actuaries and ultimately Noel became president of the New Zealand Society of Actuaries. In those early years Life Insurance was seen to be one of the best comparative investments and gaining rapid experience Noel soon found himself in Australia promoting superannuation funds and then on to South Africa doing similar work.
After setting up these funds Noel found himself looking for assets for the funds to invest in and having success, while being aware of the adage, ‘If you first don’t succeed try, try again’. Assets ranged from the norm to trawlers and mining opportunities.
In 1979 Noel came to Auckland and besides joining Rotary, he continues to assist with the setting up of superannuation schemes. In 1982 he was asked to join the Auckland District Council of the Automobile Association where eventually fourteen separate district societies became one large Association. During this period Noel joined a wave of interest in demutualization and was involved in those pertaining to Tower Corporation and Colonial Mutual Life. By this time Noel’s wide-ranging skills developed through working in the Insurance industry led to his being appointed chief executive officer of New Zealand Insurance where on the consultancy side he found himself involved in the development of software arising out of offices in New Zealand, Australia, Hong Kong and London.
In 1997 Noel and others set out to launch Pinnacle Life Insurance, the original online life insurance company. The aim was to make life insurance easier to obtain by cutting out brokers, awkward personal questions and heaps of paperwork. Noel was managing director of Pinnacle life until December 2014 but remained as a director. In short through his having been involved in building businesses, takeovers and mergers both as a consultant on strategy and actuarial issues, and as such brought to the board as a senior manager wide technical and management experience.
Noel now regards himself enjoying retirement with his wife, four children and seven grandchildren.
Noel was thanked in the usual way on behalf of the Club by Dennis Kavaanagh.