POWERED BY MOMENTUM MEDIA
TAL wins TWUSuper mandate
TWUSuper has confirmed that it has changed group insurance providers from CommInsure to TAL.
The industry fund late last week confirmed widespread industry speculation that it had opted to partner with TAL for the provision of group insurance following a competitive tender process managed by Mercer Marsh Benefits.
The announcement said a priority for TWUSuper in reviewing its group insurance provider was to identify and partner with an insurer that has an aligned culture, and demonstrated a long-term commitment to the market.
Commenting on the move, TWUSuper chief executive, Frank Sandy said changing service providers was never an easy decision to make, however the services TAL offered in supporting the members and assisting the fund to achieve its objectives were appealing and compelling.
He said the change would deliver premium savings to members.
"We have enjoyed a positive relationship with CommInsure over many years and appreciate the support they provided to the fund and its members," Sandy said.
Recommended for you
Super funds had a “tremendous month” in November, according to new data.
Australia faces a decade of deficits, with the sum of deficits over the next four years expected to overshoot forecasts by $21.8 billion.
APRA has raised an alarm about gaps in how superannuation trustees are managing the risks associated with unlisted assets, after releasing the findings of its latest review.
Compared to how funds were allocated to March this year, industry super funds have slightly decreased their allocation to infrastructure in the six months to September – dropping from 11 per cent to 10.6 per cent, according to the latest APRA data.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.73 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
30.15 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.71 3 y p.a(%)
