MetLife has won its third group insurance mandate in as many months, picking up the reigns from TAL as the insurance provider for Australian Ethical members in July.
It was a part of the fund's program to strengthen its competitiveness and product features, according to Australian Ethical chief executive Phillip Vernon.
The price of the super fund's insurance had already improved and the pair would continue to work to bring further benefits for Australian Ethical members, he said.
MetLife chief executive Marc Lieberman said the company was now working to develop a new range of product and technology innovations for the fund's members.
The insurance provider has picked up a number of notable clients recently, winning the group insurance mandate for First Super in July and for Nationwide Superannuation Fund in May.
Reserve Bank governor Michele Bullock has said the central bank sees private demand picking up over the next year, taking over from public demand.
One of Australia’s largest super funds has acquired an equity stake in the institutional investment advisory firm.
Passive investing is reshaping Australian equities, giving rise to a “no information trade” in which large-cap stocks swing sharply despite little or no fresh news.
RBA governor Michele Bullock warns of global trade risks as domestic inflation cools and employment remains near full capacity.