||AIA Australia Limited||$2732.0 M||2nd (17.2%)||
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. It is currently the second largest life insurer in the world. AIA has been operating in Australia since 1972. In 2013 AIA launched AIA Vitality, a program which rewards a healthy lifestyle. In September 2017 AIA announced it had entered into a deal to buy the CommInsure life insurance business. The purchase was completed in November 2019 and on 31st March 2020 AIA ceased issuance of new CommInsure policies while continuing to service existing policies. On 15th March 2020 AIA launched AIA Health insurance with Vitality included.|
2019 Best Life and TPD (AIA) - Plan For Life and AFA.
||Resolution Group (formerly AMP Life Limited)||$1581.0 M||5th (9.9%)||
AMP Life was owned by AMP Limited, which was established in 1849 as a mutual company and listed on the Australian Stock Exchange in mid 1998. In March 2011 AMP merged with AXA. AXA was listed in 1996 as a result of the demutualisation of National Mutual and the acquisition of 51% of the company by French company AXA. Following the successful merger between AMP and AXA the combined entity was one of the largest life insurers in Australia. On 12th November 2012 the AXA Elevate range of life insurance products were rebranded AMP Elevate. On 25th October 2018 AMP announced that it was selling its life insurance business to Resolution Life effective 30th June 2018. Resolution Life is a UK based specialist manager of in force legacy insurance businesses. From 31st January 2019 new AMP Elevate policies ceased to be issued outside of AMP platforms. However existing AMP customers are still able to manage and add to their policies.|
||Westpac Life Insurance Services Limited||$1,185.2 M||6th (7.5%)||
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 life insurance protection to more than 1.3 million Australians.|
2019 Overall Winner Consumer Choice Awards.
||ClearView Life Assurance Limited||$270.7 M||8th (1.7%)||
In 1976 Clearview started out as NRMA Life providing life insurances to NRMA customers. Over the years Clearview has evolved into a diversified life insurance and wealth management business. Clearview is currently listed on the ASX. On 25th October 2016 Japanese life insurer, Sony Life, announced it was taking a 14.9% stake in ClearView. Sony Life is owned by Sony Financial Holdings which is majority owned by Sony Corporation.|
2020 Winner Income Protection - Money Management/ Dexx&r.
2019 Overall Runner-up Consumer Choice Awards.
2020 Winner Term Life and TPD - Money Management/ Dexx&r.
2020 Winner Risk Company of the Year - Money Management/ Dexx&r.
||Integrity Life Australia Limited||N/A||N/A||
Integrity Life is one of Australia's newest entrants to the life insurance market. Their goal is to fundamentally disrupt and improve life insurance in Australia by using technology to create products that are easy to understand and simple to use. Integrity is privately owned by local and offshore investors. These include four funds managed by London-based Leadenhall Capital Partners and Japanese life insurer Daido Life Insurance Group.|
||MetLife Australia||$718.2 M||7th (4.5%)||
MetLife is a global company with over 150 years of history. MetLife protects customers in 40 countries worldwide including the US, Latin America, Asia, Europe and the Middle East. Currently MetLife protects 2.6 million Australians. MetLife is the third largest group insurer in Australia servicing super fund members and employees of company funds. MetLife Australia also supplies products to financial advisers. MetLife stands for life insurance solutions which provide a genuine benefit and the right level of care that is easy to understand.|
2019 Life Insurance Company of the Year - ANZIIF Australian Insurance Industry Award
||MLC Limited||$1788.7 M||4th (11.2%)||
MLC Limited, the entity that operates the MLC Life Insurance business, is currently owned 20% by the National Australia Bank, one of Australia's largest banks, and 80% by Nippon Life Insurance Company. Prior to 3rd October 2016 MLC Limited was owned 100% by National Australia Bank. In October 2009 Aviva Australia, previously known as Norwich Union Life, was purchased by the National Australia Bank and rebranded as MLC products. Following the sale to Nippon Life MLC Limited will retain the MLC brand for its products for at least the next 10 years.|
2020 Winner Trauma - Money Management/ Dexx&r.
2019 Best Income Protection - Plan for Life and AFA.
||NEOS Life policies are issued by NobleOak Life Limited||N/A||N/A||
NEOS Life is the registered business name of Australian Life Development Pty Ltd which was established in early 2017 to enter the Australian life insurance market. Centrepoint Alliance has a minority equity holding with the remaining equity held by NEOS founders and staff. Nobleoak Life is the insurance company who issues NEOS Protection policies and Pacific Life Re is the reinsurer - both are APRA regulated life insurers. As the distributor NEOS aims to set a new standard for Australian life insurance with faster decision making, responsive service and value for money cover.|
||TAL Ltd||$4,367.5 M||1st (27.5%)||
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 2008 Tower purchased InsuranceLine a direct distributor of insurance. In June 2011 Dai-ichi Life moved to 100% ownership of Tower. Dai-ichi is the second largest life insurer in Japan with around $500 Billion in assets. In October 2011 Tower Australia changed its name to TAL. In 2013 TAL took its shareholding in online insurance comparison business Lifebroker to 100%. In March 2019 TAL purchased Asteron Life from Suncorp. On 1st July 2019 TAL discontinued new sales under the Asteron brand while continuing to maintain existing policies. TAL currently insures over 4 million Australians.|
2019 Life Insurance Company of the Year (TAL) - Plan For Life and AFA.
2019 Best Trauma/Critical Illness (TAL) - Plan For Life and AFA.
||Zurich Australia Ltd||$2,285.3 M||3rd (14.4%)||
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. On 4th March 2016 Zurich announced that it had purchased Macquarie Life. From 1st October 2016 Macquarie life insurance policies have been rebranded as Zurich policies. In December 2017 Zurich announced it had agreed to purchase the OnePath life insurance business from ANZ Bank for $2.85 Billion. The deal was completed on 1st June 2019 and Zurich has announced it intends to maintain the OnePath brand. Zurich will have a 20 year agreement to distribute life insurance to ANZ's 6 million customers.|
2019 Overall Runner-Up Consumer Choice Awards (OnePath).