In last week’s insuranceNEWS.com.au we covered an S&P Global report stating that nine out of 10 Australian life insurers will be foreign-owned by next year.

The S&P report focused on “Australia’s largest life insurers” and did not refer to the many smaller life companies in the market.

There are, of course, more than 10 life insurers operating in Australia – many of them Australian-owned – and we apologise for not making this clear.