UniSuper will switch from Hannover Re Life Australasia to TAL Life Limited for its group insurance arrangements following its regular three-year tender process.
The appointment was the result of the fund's regular review and would come into play at the end of November, TAL executive manager, member and employer solutions, Chris Davies said.
"TAL was the stand-out tenderer due to their willingness to design an optimal solution for UniSuper and ultimately, our members," he said.
A ratings firm has placed more prominence on governance in its fund ratings, highlighting that it’s not just about how much money a fund makes today, but whether the people running it are trustworthy, disciplined, and able to deliver for members in the future.
AMP has reached an agreement in principle to settle a landmark class action over fees charged to members of its superannuation funds, with $120 million earmarked for affected members.
Australia’s second-largest super fund is prioritising impact investing with a $2 billion commitment, targeting assets that deliver a combination of financial, social, and environmental outcomes.
The super fund has significantly grown its membership following the inclusion of Zurich’s OneCare Super policyholders.