TAL have announced that they have entered into an agreement with Suncorp to purchase its Australian life insurance business including Asteron Life. Suncorp has indicated that legally binding sale agreements are expected to be completed by the end of August with the total cost to…
AIA are offering an opportunity for new clients to try their Vitality health and well-being program for free for two years. Vitality offers a range of discounts and rewards for being physically active. Vitality members enjoy initial premium discounts of 12.5% for Life, TPD and…
The AFA and research company Strategic Insight have announced TAL as the winner of the 2017 Platinum Award for Life Company of the Year. The award recognizes excellence in the provision of Life insurance products and services to financial advisers and retail customers. Runner up…
Roy Morgan has released research showing that the level of Life insurance purchased online has increased by more than 100% in the last five years. The report estimates that around 350,000 policies were sold online in 2017, accounting for over 10% of purchases compared to…
Zurich Financial Services Australia have announced that they will pay $2.85 billion to purchase OnePath Life from ANZ bank in a deal to be completed by late 2018. Zurich is Europe’s fifth biggest insurer and the OnePath deal follows Zurich’s purchase of Macquarie Life in…
Over 90% of all life insurance claims in 2016 were accepted by life insurance companies, according to a joint research project by the Australian Prudential Regulation Authority (APRA) and Australian Securities and Investments Commission (ASIC). In 2016 there were 103,100 claims finalized, of which 95,000…
The Commonwealth Bank (CBA) has agreed to sell its Life insurance business in Australia and New Zealand to AIA. Under the deal the AIA Group will pay $3.8 Billion for the CommInsure Life and Sovereign businesses. The deal is subject to regulatory and government approvals…
TAL have announced that for a limited time all their Accelerated Protection insurance policies will be free of policy fees. A policy fee is a fixed amount intended to compensate an insurer for its administration costs which is incorporated into the premium paid to an…