Zurich wins group insurance mandate
Zurich has been given a mandate for group life insurance from industry super fund Energy Super.
It will be administered by OnePath. The mandate is the first since Zurich acquired OnePath Life earlier in the year. The fund manages $8 billion for 47,000 members.
OnePath’s strength in partnerships and its claims service were important factors in winning the mandate, says Gerard Kerr, Head of OnePath Proposition and Group Insurance.
Zurich CEO Life and Investments Tim Bailey says Zurich is investing extensively in group insurance cover.
Several super funds have switched group life providers this year. MLC Life and TAL were awarded group insurance mandates from Maritime Super and REST Super respectively. Both super funds changed insurers from AIA.