closeup of on table in empty corporate conference room

Nicole Benson was elected chairwoman of the board of directors of the Canadian Association of Financial Institutions in Insurance (CAFII), effective June 5, the association announced on Wednesday.

She succeeds Peter McCarthy who completed a three-year term as chairman.

Benson, CEO at Toronto-based Canadian Premier Life Insurance Co., brings 18-years of insurance industry experience to the role of CAFII board chairwoman.

“I would like to thank Peter McCarthy for his leadership as Chair of CAFII for the past three years,” said Benson. “I look forward to working with my colleagues on the board, and to building on Peter’s accomplishments in positioning the association for long-term success.”

McCarthy, president and CEO at Toronto-based BMO Life Assurance Co., remains on the CAFII board as the director from his member organization.

CAFII is a not-for-profit industry association dedicated to the development of an open and flexible insurance marketplace. It was established in 1997 to create a voice for financial institutions involved in selling insurance through a variety of distribution channels.