- Life Insurance Demand Strengthens as Businesses Reassess Protection Needs
New market data reported by Plan For Life points to a notable rebound in parts of Australia’s life insurance sector, with individual lump sum insurance new business rising 6.7% across the 2025 calendar year and individual income protection new business increasing 8.3%.
- APRA and ASIC Advocate for TPD Insurance Reforms
The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) have jointly called on life insurers to take decisive action to address mounting sustainability pressures in the Total and Permanent Disability (TPD) insurance market.
- APRA's New Capital Treatment Reforms for Longevity Products
The Australian Prudential Regulation Authority (APRA) has announced significant reforms to the capital treatment of longevity products, including annuities, aimed at bolstering the sustainability and affordability of retirement income products. These changes are set to take effect from 1 July 2026.
- Rising Delays in Income Protection and TPD Claims Processing
Recent findings from the Life Insurance Code Compliance Committee (Life CCC) have revealed a significant increase in delays related to income protection and Total and Permanent Disability (TPD) claims processing.
- New TPD Insurance Products Aim to Improve Affordability and Sustainability
In response to escalating claims costs and sustainability concerns, Australian insurers have unveiled innovative Total and Permanent Disability (TPD) insurance products designed to enhance affordability and long-term viability.
- EML Report Projects Significant Rise in Superannuation Income Protection Claims
EML has released a new white paper titled 'The Complexity Premium,' offering insights into the future of income protection claims within the superannuation industry.
- Cbus Super Fined for Delays in Death and Disability Insurance Claims Processing
The Australian Securities and Investments Commission (ASIC) has imposed a $23.5 million fine on Cbus Super for significant delays in processing death and disability insurance claims. The superannuation fund has also agreed to pay $32 million in compensation to 7,402 affected individuals.
- APRA and ASIC Advocate for Urgent TPD Insurance Reforms
In a recent industry roundtable, the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) have called for immediate reforms in Total Permanent Disability (TPD) insurance to tackle mounting sustainability issues.
- AustralianSuper Announces Significant Insurance Premium Hikes
AustralianSuper, the nation's largest superannuation fund, has announced substantial increases in insurance premiums for nearly half of its members. This decision comes in response to a significant rise in mental health and disability claims, which have escalated the cost of providing coverage.
- TAL and Cover Genius Introduce 'backd': A New Era in Digital Life Insurance
In a strategic move to enhance accessibility to life insurance, Australian insurer TAL has partnered with global InsurTech company Cover Genius to launch 'backd', an embedded digital life insurance product.
- AIA Australia's Strategic Leadership Overhaul to Boost Group Insurance
AIA Australia has recently undertaken significant leadership changes aimed at enhancing its group insurance offerings and strengthening partnerships within the superannuation sector. This strategic move underscores the insurer's dedication to delivering innovative and tailored solutions to its clients.
- Swiss Re Halts New Life Insurance Business in Australia
Swiss Re Life & Health Australia has announced a pause on accepting new clients in the life insurance segment, effective immediately. This decision stems from concerns over the sustainability of current product designs, especially regarding Total Permanent Disability (TPD) insurance.
- Zurich Australia Expands Life Insurance Market Presence with ClearView Acquisition
Zurich Financial Services Australia has entered into an agreement to acquire ClearView Wealth Limited through a scheme of arrangement, valuing ClearView's equity at approximately AUD 415 million. This strategic acquisition is set to bolster Zurich's presence in the Australian life insurance market.
- ASIC Takes Legal Action Against Mercer Super for Alleged Systemic Failures
The Australian Securities and Investments Commission (ASIC) has initiated legal proceedings against Mercer Super, one of Australia's largest superannuation funds, alleging systemic failures in reporting and member account management. This action underscores the critical importance of compliance and transparency within the superannuation and insurance sectors.
- Hostplus and MetLife Australia Strengthen Group Insurance Partnership
Hostplus, a prominent Australian superannuation fund, has announced the extension of its group insurance partnership with MetLife Australia until June 2028. This renewal signifies a continued commitment to providing comprehensive insurance coverage to Hostplus members.
- AIA Australia Announces Strategic Leadership Overhaul to Boost Group Insurance
AIA Australia, a leading life, health, and wellbeing insurer, has announced a series of key appointments and structural changes as part of a strategic investment in its group insurance capabilities.
- Acenda Life Introduces Significant Updates to Retail Life Insurance Offerings
Acenda Life has recently implemented a series of updates to its Retail Life Insurance portfolio, effective from 11 April 2026. These changes aim to provide enhanced coverage options and greater flexibility for policyholders.
- Challenger's Life Division Achieves Significant Sales Growth in Third Quarter
Challenger Limited has reported a 19% increase in sales within its life division, reaching $1.7 billion for the third quarter of the 2025-2026 financial year. This growth is primarily attributed to strong demand for annuity products.
- ACCC Initiates Review of Zurich's Proposed Acquisition of ClearView Wealth
The Australian Competition and Consumer Commission (ACCC) has commenced a review of Zurich Financial Services' proposed acquisition of ClearView Wealth, a listed life insurer. This assessment aims to evaluate the potential impact of the acquisition on market competition.
- Australia's Non-Life Insurance Sector Demonstrates Robust Growth
Australia's non-life insurance industry has showcased remarkable resilience, achieving total insurance revenue of approximately AUD 77.7 billion for the fiscal year ending 30 June 2025. This performance highlights the sector's ability to navigate an increasingly complex and interconnected risk landscape.
- Regulators Scrutinize Life Insurance Premium Hikes Amid Consumer Concerns
The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) have jointly reviewed life insurers' practices concerning premium increases, aiming to ensure they align with policy terms and meet reasonable policyholder expectations.
- Australian Senate Enacts Ban on Genetic Testing in Life Insurance Underwriting
The Australian Senate has recently passed legislation that prohibits life insurers from using genetic test results in their underwriting processes. This landmark decision aims to protect consumers from potential genetic discrimination and ensure equitable access to life insurance coverage.
- AIA Australia Unveils New Member Insurance Portal for Enhanced User Experience
AIA Australia has recently launched a new member insurance portal, marking a significant advancement in digital services for policyholders. This initiative is part of the company's ongoing commitment to enhancing user experience and streamlining access to insurance information and services.
- Australian Life Insurers Achieve $279 Million Underwriting Gain in Q4 2025
The Australian life insurance industry has reported a substantial underwriting gain of $279 million for the fourth quarter of 2025, marking a significant improvement from the $36 million recorded in the same period the previous year.
- AIA Australia's Strategic Leadership Overhaul to Boost Group Insurance
AIA Australia has recently undertaken significant leadership changes aimed at enhancing its group insurance offerings and strengthening partnerships within the superannuation sector. This strategic move underscores the insurer's dedication to delivering innovative and tailored solutions to its clients.
- AIA Australia Highlights Industry Challenges Amid Rising Mental Health Claims
AIA Australia CEO Damien Mu has raised concerns about the life and health insurance industries facing structural changes driven by increasing mental health claims, rising premiums, and economic volatility. Speaking during the company's online Thrive for Life presentation, Mu emphasized the unsustainability of current life insurance models under these pressures.
- Regulators Scrutinize Life Insurance Premium Hikes Amid Consumer Concerns
The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) have jointly reviewed life insurers' practices concerning premium increases, aiming to ensure they align with policy terms and meet reasonable policyholder expectations.
- AIA Australia's Strategic Leadership Overhaul to Boost Group Insurance
AIA Australia has recently undertaken significant leadership changes aimed at enhancing its group insurance offerings and strengthening partnerships within the superannuation sector. This strategic move underscores the insurer's dedication to delivering innovative and tailored solutions to its clients.
- Acenda's Workforce Reduction: Navigating Post-Merger Integration Challenges
Acenda, a prominent player in Australia's life insurance sector, has announced plans to reduce its workforce by approximately 280 positions. This decision comes as the company navigates the complexities of integrating operations following recent mergers and acquisitions.
- AIA Australia's 'Do it for Life' Campaign: A Call to Prioritise Health and Wellbeing
AIA Australia has unveiled its new brand platform, 'Do it for Life,' reinforcing its commitment to transforming the physical, mental, and financial wellbeing of Australians. This campaign encourages individuals to take proactive steps towards their health to continue enjoying life's meaningful moments.
