Big US-based insurer Metlife is looking to diversify its presence in Australia into what it describes as the "retirement segment".
Addressing an international media symposium in New York, Metlife chief financial officer James Hon reinforced the company's intention to maintain and grow its Australian presence.
He said that while the company was happy with its performance in Australia, it also tended to a pan-regional view.
Hon said Australia had many reciprocal arrangements which made it advantageous with respect to South-East Asia.
The international symposium was also told Metlife's acquisition of Alico had represented a once-in-a-lifetime opportunity, making Metlife the biggest life insurer in the world.
Future Group is set to take on nearly $1 billion in funds under management (FUM) and welcome more than 100,000 new members following two significant successor fund transfers.
Insignia’s Master Trust business suffered a 1.9 per cent dip in FUA in the third quarter, amid total net outflows of $1.8 billion.
While the Liberal senator has accused super funds of locking everyday Australians out of the housing market, industry advocates say the Coalition’s policy would only push home ownership further out of reach.
Australia’s largest superannuation fund has confirmed all members who had funds stolen during the recent cyber fraud crime have been reimbursed.