Tower positions in group space
 |
| Andrew Black |
Tower Australia has made clear its intention to drive further into the group life arena on the back of its recent AustralianSuper mandate win.
In a briefing released on the Australian Securities Exchange this week, Tower group life division chief executive Geoff Black made clear that the company regarded group life as being one of the high-growth areas for the insurance sector over the next five years, particularly with respect to industry funds.
His presentation pointed to 14.6 per cent premium growth in the industry funds sector.
Black pointed to the winning of the AustralianSuper mandate as being a cornerstone of its group strategy as it provided the additional scale that would enable Tower to differentiate itself from its competitors.
He said current and prospective group clients would benefit from the enhancements flowing from the AustralianSuper mandate and the competitive advantage it allowed Tower.
AUTHOR
Mike Taylor
Recommended for you
Australia’s average superannuation balance has climbed to a record high, with women’s savings share rising and reliance on the age pension falling.
APRA has softened several governance reform proposals following extensive consultation with banks, insurers, and super funds across Australia.
The super fund’s CEO has confirmed he will finish his role in 2026.
New data shows millions of Australians have little idea how their super funds have performed over the past year.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
215.17 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
118.15 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
75.00 3 y p.a(%)
4
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
61.11 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
60.93 3 y p.a(%)
