TAL acquires Lifebroker
21/10/13 Filed in: Press
TAL confirms today that it has acquired the remaining 90% shares of the Lifebroker business that it didn’t already own.
Lifebroker is an online life insurance comparator that providers consumers choice and comparison of life insurance products from a range of different life insurance companies.
Lifebroker is an online life insurance comparator that providers consumers choice and comparison of life insurance products from a range of different life insurance companies.
TAL confirms today that it has acquired the remaining 90% shares of the Lifebroker business that it didn’t already own.
Lifebroker is an online life insurance comparator that providers consumers choice and comparison of life insurance products from a range of different life insurance companies.
Lifebroker commenced operations in 2004 and since that time has grown to be a valuable source of life insurance product comparison and product availability for consumers. The growth of the business reflects the growing importance that life insurance plays in organising the financial affairs of Australians.
Brett Clark, CEO of TAL Life, said that consumers continue to look for objective comparison of life insurance products and that is a fundamental proposition of the Lifebroker business model that will continue to be supported.
“Lifebroker has built a reputation on the objective comparison on life insurance products from a range of different life insurers. We strongly support consumer choice and a competitive life insurance market,” Mr Clark said.
Mr Clark also said Lifebroker will complement TAL’s existing offerings in the retail, direct and group insurance markets.
“TAL has had a 10 per cent stake in Lifebroker for three years now and we have been impressed with the quality of the business and the service it provides consumers. The board, management and staff of Lifebroker have done a tremendous job in building an innovative and successful business. TAL now looks forward to supporting Lifebroker in its next chapter and sees strong alignment between the two businesses.”
Lifebroker CEO Chris Eade, who will stay with the firm, said he was excited that the acquisition would herald a growth phase for the business.
“Becoming part of TAL is a huge positive for Lifebroker to help it expand its potential and ensure more families and individuals are protected when they most need it in life,” he said.
Mr Clark said that TAL’s strategic focus on the customer and its passion for the purpose and value of life insurance in the lives of Australians was behind the decision to acquire the firm.
“It is important we make life insurance available in ways that customers desire. Different customers choose to buy life insurance in different ways, and we want to offer genuine choice that meets the needs of all consumers.
“We also see digital capabilities becoming more and more important to allow customers to choose to access life insurance by whatever means they choose. We see consumers using financial advisers and acting directly when they choose. As the Australian market uses digital capabilities more and more, Lifebroker gives us further expertise, technical knowhow and practical insights that we can leverage.”
Further information:
Stuart Snell 02 9448 9879/0417 921 235 stuart.snell@tal.com.au Twitter @TALlifeNews
About TAL: The specialist voice of life insurance in Australia
TAL is a specialist life insurance company with leading competitive offerings in each of its core distribution channels: direct to customers; through financial advisers; and through group and workplace superannuation schemes. With in-force premiums of over $1.7 billion, TAL is the second largest life insurer in Australia. TAL is owned by The Dai-ichi Life Insurance Company, Limited, one of the top 10 life insurers in the world.
Lifebroker is an online life insurance comparator that providers consumers choice and comparison of life insurance products from a range of different life insurance companies.
Lifebroker commenced operations in 2004 and since that time has grown to be a valuable source of life insurance product comparison and product availability for consumers. The growth of the business reflects the growing importance that life insurance plays in organising the financial affairs of Australians.
Brett Clark, CEO of TAL Life, said that consumers continue to look for objective comparison of life insurance products and that is a fundamental proposition of the Lifebroker business model that will continue to be supported.
“Lifebroker has built a reputation on the objective comparison on life insurance products from a range of different life insurers. We strongly support consumer choice and a competitive life insurance market,” Mr Clark said.
Mr Clark also said Lifebroker will complement TAL’s existing offerings in the retail, direct and group insurance markets.
“TAL has had a 10 per cent stake in Lifebroker for three years now and we have been impressed with the quality of the business and the service it provides consumers. The board, management and staff of Lifebroker have done a tremendous job in building an innovative and successful business. TAL now looks forward to supporting Lifebroker in its next chapter and sees strong alignment between the two businesses.”
Lifebroker CEO Chris Eade, who will stay with the firm, said he was excited that the acquisition would herald a growth phase for the business.
“Becoming part of TAL is a huge positive for Lifebroker to help it expand its potential and ensure more families and individuals are protected when they most need it in life,” he said.
Mr Clark said that TAL’s strategic focus on the customer and its passion for the purpose and value of life insurance in the lives of Australians was behind the decision to acquire the firm.
“It is important we make life insurance available in ways that customers desire. Different customers choose to buy life insurance in different ways, and we want to offer genuine choice that meets the needs of all consumers.
“We also see digital capabilities becoming more and more important to allow customers to choose to access life insurance by whatever means they choose. We see consumers using financial advisers and acting directly when they choose. As the Australian market uses digital capabilities more and more, Lifebroker gives us further expertise, technical knowhow and practical insights that we can leverage.”
Further information:
Stuart Snell 02 9448 9879/0417 921 235 stuart.snell@tal.com.au Twitter @TALlifeNews
About TAL: The specialist voice of life insurance in Australia
TAL is a specialist life insurance company with leading competitive offerings in each of its core distribution channels: direct to customers; through financial advisers; and through group and workplace superannuation schemes. With in-force premiums of over $1.7 billion, TAL is the second largest life insurer in Australia. TAL is owned by The Dai-ichi Life Insurance Company, Limited, one of the top 10 life insurers in the world.