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The value of group life bragging rights
Rollover offers his congratulations to Brett Clark and his team at TAL for successfully completing the acquisition of Suncorp’s life insurance business.
Brett and the team announced completion of the transaction on 28 February which, despite the chunky nature of the acquisition, happened a lot sooner than AIA’s completion of its acquisition of the Commonwealth Bank’s CommInsure business.
What Rollover does know is that, for the time being at least, the bedding down of the Suncorp Life acquisition means that TAL’s position as market leader is safe.
AIA’s chief executive, Damien Mu and TAL’s Clark have long maintained a convivial competitive attitude about the relative scale of their businesses and Rollover had believed that Mu might achieve boasting rights via the CommInsure acquisition.
Not to worry, all the indicators suggest that the CommInsure transaction will be bedded down before the end of the current financial year and Mu can claim bragging rights as will be his due.
AUTHOR
The Rollover
Rollover is a jaded hack who joined the staff of Super Review nearly two decades’ ago and never managed to summon the energy to leave. Known throughout the superannuation industry as a power-luncher and gossip, Rollover spends his time humouring fund managers, eavesdropping at conferences, dozing through briefings and looking for his next free meal.
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