At the 13th Australian Insurance Industry Awards hosted by the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) and the Asia Insurance Review AMP was announced Life Insurance Company of the Year.The judges indicated that the award recognized the focus by AMP on...
An international survey commissioned by Zurich has found that Australians tend to underestimate the risk of death, illness or disability compared to consumers in other developed countries and this is reflected in low levels of life insurance cover.The Oxford University study found that 47% of...
Zurich Australia Limited has announced that it has agreed to acquire the Macquarie Life insurance business from the Macquarie Group. The transaction, which is subject to regulatory and court approvals, is expected to be completed in the second half of 2016.Under the deal the Australian-based...
TAL has announced a new program which rewards customers who follow a healthy lifestyle. “Health Sense” provides new customers of TAL’s Accelerated Protection range with discounts if their Body Mass Index (BMI) falls within a defined range.The Health Sense range for BMI is between 19...
From 1st December 2015 customers who take out Vitality with their life, TPD and trauma insurance will enjoy a 12.5% initial discount on their premiums. This is compared to 7.5% previously.Vitality members will also be entitled to new benefits and rewards. Vitality have teamed up...
MLC have launched a new wellness program called “On Track” which encourages clients to live an active, healthy life, as well as have the opportunity to receive a discount of up to 10% off their premiums for the life of their policy.Clients purchasing a new...
Japan’s largest life insurance company, Nippon Life, has entered into a deal with National Australia Bank to buy 80% of the MLC life insurance business for $2.4 billion. NAB will retain the remaining 20% of the business.The new partnership is expected to take effect in...
Every year Canstar produces their Star Ratings Report for the Life insurance industry. It is a mammoth research project comparing the policies offered by 13 insurance companies for term life, trauma, TPD and income protection cover.The results for 2015 have TAL and Zurich taking the...