UniSuper will switch from Hannover Re Life Australasia to TAL Life Limited for its group insurance arrangements following its regular three-year tender process.
The appointment was the result of the fund's regular review and would come into play at the end of November, TAL executive manager, member and employer solutions, Chris Davies said.
"TAL was the stand-out tenderer due to their willingness to design an optimal solution for UniSuper and ultimately, our members," he said.
The UK aims to boost investments via Australia’s super fund sector, unlocking major bilateral business and growth opportunities.
The Future Fund has received government approval to internally manage transactions in Australian infrastructure and property, marking a significant shift in its investment approach after nearly two decades of relying solely on external managers.
The super fund has welcomed Robert Potter and Wayne Davy to its board of directors.
Private market assets in super have surged, while private debt recorded the fastest growth among all investment types.