Life insurers back Council of Australian Life Insurers as new peak body

Life insurers back Council of Australian Life Insurers as new peak body | Insurance Business Australia

Life insurers back Council of Australian Life Insurers as new peak body

The Australian life insurance industry has backed the newly formed Council of Australian Life Insurers (CALI) as its peak body.

Nineteen life insurers and reinsurers have become full members of CALI, representing 99% of the life insurance industry and 100% of the reinsurance industry in Australia.

The dedicated peak body will act “as the progressive voice of life insurance in Australia,” according to a CALI press release, and it will represent the interests of the industry.

“CALI has an essential role to play in driving positive outcomes through engagement with our stakeholders, including Government, consumers, their representatives, and regulators,” the group added.

Damien Mu, CEO and managing director of AIA Australia, and Brett Clark, group CEO and managing director of TAL, have been named as CALI co-chairs. Christine Cupitt will join CALI from the Australian Banking Association (ABA), where she is currently chief of policy and strategy, to lead the peak body as CEO, effective January 2023.

“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 Mu and Clark.

The CALI board has 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 – all of whom are CALI members.

Other CALI members include: Hannover Re, NobleOak, QInsure, Swiss Re, Challenger, General Reinsurance Life, HCF Life, Munich Re, RGA Reinsurance, and SCOR Life & Health.