POSTED 01 July 2023
Resolution Life completes acquisition of AIA Australia’s Superannuation & Investment life insurance business
- Resolution Life Australasia completes portfolio acquisition
- Acquisition delivers significant scale and benefits for customers; strengthening position as largest life insurer by assets in Australasia
- Provides Resolution Life with a strong platform for the next phase of strategic growth
Resolution Life Australasia (Resolution Life), a life insurer focused on the acquisition and management of life insurance policies, is pleased to announce that it has completed the acquisition of AIA Australia Limited's Superannuation & Investment life insurance business. This acquisition supports Resolution Life's commitment to business growth and allows it to help more customers in achieving their financial objectives.
The completion of the acquisition will see AIA Australia’s Superannuation & Investment life insurance business fully integrated into Resolution Life’s local operations.
This is an exciting and important milestone for our business. We are delighted to welcome our new colleagues and customers who will benefit from our significant investment in technology, digital and AI capabilities
Tim Tez CEO Australasia, Resolution Life
The acquisition of AIA Australia’s Superannuation and Investment life insurance business was approved by the Federal Court of Australia, with the transfer of policyholders to Resolution Life effective as of 1 July 2023. Under the terms of the agreement AIA Australia will continue to provide transitional services for up to eighteen months.