There was engagement this week by Riskinfo readers in news that Australia’s new peak life insurance industry body seems to be forging ahead with full support from the institutions who will comprise its member base – as all industry stakeholders look forward to seeing how CALI will represent their common interests in 2023 and beyond…
The Australian life insurance industry has announced it has come together in support of newly formed peak body, the Council of Australian Life Insurers (CALI).
A statement released this week notes nineteen life insurers and reinsurers have now become full members of CALI, representing 99% of the life insurance industry and 100% of the reinsurance industry in Australia.
The statement reaffirms CALI was established as a dedicated peak body to “act as the progressive voice of life insurance in Australia and to represent the interests of the industry and our customers and partners.”
The nineteen life insurance and reinsurance members of CALI are:
- AIA Australia
- Challenger
- Clearview
- General Reinsurance Life
- Hannover Re
- HCF Life
- Integrity Life
- MetLife Australia
- MLC Life Insurance
- Munich Re
- NobleOak (including NEOS, PPS Mutual)
- Pacific Life Re
- QInsure
- RGA Reinsurance
- Resolution Life Australasia
- SCORE Life & Health
- Swiss Re
- TAL
- Zurich Financial Services
Membership of the CALI board has also been finalised, with representatives from AIA Australia, ClearView, Integrity Life, MetLife, MLC Life Insurance, Pacific Life Re, Resolution Life Australasia, TAL, and Zurich Financial Services.
CALI co-Chairs Damien Mu, CEO and MD of AIA Australia and Brett Clark, group chief executive and MD of TAL, have said strong engagement and support from across the industry underscored the important role that CALI will play:
“The mandate which accompanies such strong endorsement and commitment from across the industry ensures Chris and the team she establishes will be well positioned to advocate for sound public policy outcomes that benefit customers and the community,” said a joint statement.
Former ABA Chief of Policy and Strategy, Christine Cupitt, was recently announced as the incoming CEO, commencing in January 2023 (see: CALI Announces Inaugural CEO).
At the risk of a defamation action, there are one or two personalities in that group who, in my opinion, may not always have the best interest of self-employed advisers foremost in their minds, at least in terms of LIF
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