Acenda will be the new name for MLC Life Insurance products from today. This follows the move to full ownership of MLC Limited by Japanese insurer Nippon Life.
When Nippon Life acquired 80% of the MLC life insurance business from NAB back in 2016, use of the MLC brand was included for 10 years only.
The new name Acenda was announced in December 2024. It was chosen because it embodies the company’s goals of ascending through strength, progress and momentum.
Existing MLC product names will be changed to Acenda and new policies will be issued under an Acenda Product Disclosure Statement. There is no change to the name of Encompass Protection policies. The company name of the insurer will change from MLC Limited to Nippon Life Insurance Australia and New Zealand Limited.
Importantly, this is a name change only – there are no changes to the terms or benefits of existing policies.
When the global acquisition of Resolution Life is completed by Nippon Life later this year Resolution Life Australasia will also be integrated into the Acenda brand.
The MLC Brand – Long History in Life Insurance
|
1886 |
Founded as the Citizens’ Assurance Company Limited |
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1908 |
Became known as Mutual Life & Citizens Assurance Company Limited (MLC) |
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1982 |
Lend Lease announced acquisition of 50% of MLC |
|
1985 |
MLC became a wholly owned subsidiary of Lend Lease |
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30 June 2000 |
Lend Lease sold MLC to National Australia Bank for $4.596 billion |
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3 October 2016 |
NAB sold 80% of MLC Limited to Japanese insurer Nippon Life |
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28 April 2022 |
MLC backs new insurance brand Encompass Protection |
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11 December 2024 |
Nippon Life to purchase remaining 20% of MLC Limited from NAB and announces merger of insurance business with Resolution Life Australasia |
|
27 September 2025 |
Rebranding of MLC Life Insurance as “Acenda” |
While the MLC name may be disappearing from the life insurance industry, it will continue on in other markets. IOOF Holdings Ltd, now known as Insignia Financial Ltd, acquired the wealth management side of MLC from NAB on 31st May 2021 and will continue to use the MLC brand for the marketing of retirement, investment and superannuation products.
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