AIA Australia has appointed Paul Costello as a member of its board of directors.
In his new role, Costello will provide the company with strategic guidance on its Australian operations across the company's group insurance offering, and on the development and growth of its direct and retail businesses.
Costello has significant government and industry experience, having previously held such positions as chair of the Stronger Super Peak Consultative Group and inaugural general manager the Future Fund. Costello has been involved in various aspects of superannuation including advice, corporate and industry super and government consultation.
Costello's appointment became effective 10 November.
The lower outlook for inflation has set the stage for another two rate cuts over the first half of 2026, according to Westpac.
With private asset valuations emerging as a key concern for both regulators and the broader market, Apollo Global Management has called on the corporate regulator to issue clear principles on valuation practices, including guidance on the disclosures it expects from market participants.
Institutional asset owners are largely rethinking their exposure to the US, with private markets increasingly being viewed as a strategic investment allocation, new research has shown.
Australia’s corporate regulator has been told it must quickly modernise its oversight of private markets, after being caught off guard by the complexity, size, and opacity of the asset class now dominating institutional portfolios.