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Zurich pulls out of super

Zurich Australia has put its corporate superannuation businesses on the market as it moves to focus on its core business model.

The wholly owned I-Super and the Finium joint venture with Genesys Wealth Advisers will be shed, subject to trustee approval.

The company says a recent review of its operations has found the administration of corporate superannuation no longer reflects its business model.

A prospective buyer is yet to officially declare an interest, but a Zurich Australia spokesman says the company is in discussions with several suitably qualified parties. It has assured the stakeholders of both companies that the transitions will be as smooth as possible.