Zurich Financial Services has announced that it is selling its corporate superannuation business, i.super.
In a statement issued today, Zurich said the decision to sell followed a review of operations, which had concluded that the administration of corporate superannuation no longer fitted with its core business model.
It said discussions were underway with interested, suitably qualified parties.
Volatile markets driven by shifting US tariff policy failed to rattle Australia’s superannuation system in April, with balanced options inching upward.
ASFA has urged greater transparency and fairness in the way superannuation levies are set and spent.
Labor’s re-election has reignited calls to strengthen Australia’s $4.2 trillion super system, with industry bodies urging swift reform amid economic and demographic shifts.
A major super fund has defended its use of private markets in a submission to ASIC, asserting that appropriate governance and information-sharing practices are present in both public and private markets.