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Tower wrests FSS from MetLife
Tower Australia has consolidated its recent dominance of the group insurance sector by securing the First State Super mandate previously held by MetLife.
The mandate win comes just over a year after Tower reasserted itself in the group insurance arena by picking up the prized AustralianSuper mandate, which it then followed with smaller but significant mandates from National Catholic Super and IBM.
The decision by First State Super to change group insurance providers followed a competitive process overseen by Rice Warner Actuaries and leaves MetLife dealing with MTAA Super, Rei Super and Statewide Superannuation Trust.
Tower was recently named as Super Review’s Group Insurer of the Year based on an analysis of mandates held and won combined with the results of a survey to determine how its clients viewed its services.
AUTHOR
Mike Taylor
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