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AIA Australia Limited |
$1078.0M |
6th |
In June 2009 AIG Life changed its name to AIA Australia Limited to reflect its
separation from the US company AIG to become part of the AIA Group in Asia. The new AIA
group listed on the Hong Kong Stock Exchange in October 2010 and has over 20 million customers
and over 20,000 staff in Asia-Pacific. AIA has been operating in Australia since 1970. |
2011 Best Overall Value – Canstar Cannex
2011 Best Income Protection – Canstar Cannex |
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AMP Life Limited |
$1646.9M (including AXA) |
1st (including AXA) |
AMP Life is owned by AMP Limited, which was established in 1849 as a mutual
company and listed on the Australian Stock Exchange in mid 1998. Following AMP's successful
merger with AXA in March 2011 the combined entity is now the largest life insurance insurer in
Australia, although AXA products can continue to be marketed separately up until December
2013. |
2011 Best Trauma Insurance – Canstar Cannex |
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Asteron Life Limited (including Suncorp Group) |
$618.2M |
7th |
Asteron has a history in Australia that can be traced back to 1833. Following the merger
of Promina with Suncorp in March 2007 Asteron has become part of the Suncorp Group which
has more than 7 million customers in Australia and New Zealand.
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2010 Life Insurance Company of the Year - CoreData. |
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National Mutual Life Association of Australasia Ltd |
$1646.9M (including AMP) |
1st (including AMP) |
National Mutual was established in 1869 as a mutual company. In 1995 the
company demutualised and AXA acquired 51% of the company. National Mutual listed in October
1996 and adopted the AXA brand in 1999. On 31st March 2011 AMP Group acquired all shares in AXA
Asia Pacific Holdings Limited. Although AXA is now fully owned by AMP, AXA products can
continue to be marketed separately until December 2013. |
2011 Best TPD Insurance – Canstar Cannex.
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Westpac Life Insurance Services Limited
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$495.8M |
8th |
BT Financial Group is the wealth management arm of the Westpac Bank which has
been delivering banking and other financial services to Australians since 1817. The
insurance business provides general and life insurance protection to more than 1 million
Australians. |
2011 Bronze Winner Risk Company of the Year - Money Management/
Dexx&r. |
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Colonial Life Assurance Society Ltd |
$1246.1M |
5th |
The Colonial Mutual Life Assurance Society was established in 1873. In 1997 Colonial
acquired Prudential and was in turn acquired by the Commonwealth Bank in 2000. By 2002
Colonial was operating under the CommInsure brand name. The Commonwealth Bank was founded
in 1911 and is one of the largest listed companies in Australia.
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2011 Life Insurance Company of the Year – Australia and New Zealand Institute
of Insurance and Finance 2010 Joint Winner Life Insurance Company of the Year - Plan for Life
and AFA. |
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OnePath Life Limited (formerly known as ING Life) |
$1263.9M |
3rd |
Until recently OnePath was known as ING Australia Limited. It was
formerly a joint venture between the ANZ bank, one of Australia's major banks, and the ING
Group, a Dutch based global financial services company. In September 2009 ANZ announced
its move to full ownership and the business and products were rebranded in November 2010 as
“OnePath”. |
2011 Best Overall Value – Canstar Cannex
2011 Best Packaged Life – Canstar Cannex
2011 Best Income Protection – Canstar Cannex
2011 Gold Winner Risk Company of the Year - Money Management/ Dexx&r
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Macquarie Life Limited |
$102.1M |
11th |
Macquarie Bank opened business in Sydney in 1985 and listed on the Australian Stock
Exchange in 1996. In 2007 Macquarie Life launched its Futurewise range of life
insurance products.
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Metlife Insurance Ltd |
$270.3M |
9th |
Metlife entered Australia in July 2005 when it purchased Citigroup's insurance
operations. Metlife has 140 years experience in global financial services. In 2000 MetLife
Inc listed in the US. It has 70 million customers around the world.
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MLC Ltd |
$1466.3M |
2nd |
MLC is owned by the National Australia Bank, one of Australia's largest banks and has over
120 years of insurance experience. MLC also provides investment and superannuation
solutions and has a customer base of over 1.5 million. In October 2009 Aviva Australia,
previously known as Norwich Union Life, was purchased by the National Australia Bank and these
products have been rebranded as MLC products. |
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TAL Ltd |
$1246.1M |
4th |
TAL (previously known as Tower Australia) originated in 1869 in New Zealand. Tower
entered Australia in 1990 and was listed on the Australian Stock Exchange in 1996. In 2007
Tower merged with Prefsure. In June 2011 Dai-ichi Life moved to 100% ownership of
Tower. Dai-ichi is the second largest life insurer in Japan with around $400 Billion
in assets. In October 2011 Tower Australia changed its name to TAL and currently
insures over 2.5M Australians.
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2011 Best Term Life Insurance – Canstar Cannex.
2011 Best Trauma Insurance – Canstar Cannex.
2011 Silver Winner Risk Company of the Year - Money Management/ Dexx&r.
2010 Joint Winner Life Insurance Company of the Year - Plan for Life and AFA.
2010 Trauma Award - Plan for Life and AFA.
2010 Income Protection Award - Plan for Life and AFA. |
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Zurich Australia Ltd |
$254.5M |
10th |
Zurich Australia is 100% owned by the Swiss-based worldwide Zurich Financial Services
Group which operates in over 170 countries. In 1961 Zurich entered Australia purchasing the
Commonwealth General Assurance Corporation which had been operating since 1920.
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2011 Best Term Life Insurance – Canstar Cannex.
2011 Best TPD Insurance – Canstar Cannex.
2011 Best Packaged Life Insurance – Canstar Cannex.
2010 Life/TPD Insurance Award - Plan for Life and AFA. |
