Tag: life insurance australia

Zurich Insurance Group makes $2.1 billion ANZ life insurance acquisition

G. Turner
australia ANZ life insurance

The Swiss insurer will solidify a more important spot within this sector of the global industry. Zurich Insurance Group has announced its acquisition of ANZ life insurance. The move will place the Swiss company in the top position within Australia’s retail life insurance marketplace. The acquisition was made for a reported $2.1 billion and will considerably increase its standing in Australia. Before the ANZ life insurance acquisition, Zurich had been holding the fifth spot within that marketplace. Now it will take an easy first. The Swiss insurance company stated that…

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Life insurance industry in Australia feels the economic pinch

G. Turner
insurance fraud

Tougher times are beginning to show their mark on this sector as its value drops by over $1 billion. The Australian life insurance industry has been combating the struggles associated with the sluggish economic pace but has still managed to see its value drop by over $1 billion as the impact progresses. Its challenges only grows as it faces difficulties in the claims of larger policy holders. The largest life insurance companies in the Australian industry have reported that within the last year, the profit expectations were missed by a…

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Mortality protection gap for life insurance in Australia nears $1 trillion

According to Swiss Reinsurance Co., the life insurance mortality protection gap in Australia has reached almost $1 trillion. Since 2000, estimates from Swiss Re. about the gap – that is, the size of the needed protection that is not protected by funding from savings or insurance – has risen by $432 billion to reach $972 billion. These figures were the outcomes of a survey conducted with 1000 participants who are working individuals between the ages of 20 and 40 in Melbourne and Sydney. According to the head of the life…

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