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MetLife regains group traction
Major insurer MetLife has regained some traction in the Australian group insurance market after earlier this month picking up the mandate for the Nationwide Superannuation Fund (NSF).
The NSF mandate represented a key step ahead for the company which had last a number of mandates over the past two years as players such as TAL ramped up their presence in the group space.
In the past two years it had found itself losing the First State Super mandate to Tower, but managed to maintain its longstanding relationship with MTAA Super.
Thus, the announcement last week regarding NSF Super saw it displacing OnePath as the insurance provider to the fund.
NSF Super fund secretary Ian Morante attributed the mandate win to MetLife's product and service offering, including the ability to tailor services to meet the needs of members.
MetLife chief executive Marc Lieberman welcomed the winning of the mandate and committed the company to meeting the fund's expectations, particularly with respect to claims handling.
MetLife will take responsibility for NSF Super from 1 July 2012.
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