Who is Resolution Life Australasia?

Resolution Life - Your Life Insurer

You would have received communications from us stating that you are now looked after by Resolution Life (Australasia). This may have left you wondering who Resolution Life is and what it means for your insurance coverage, super and investments. Here, we’ll explain the background and success of Resolution Life, and why you can feel confident that your life insurance needs are in good hands.

Who is Resolution Life?

Resolution Life Australasia is owned by Resolution Life, a well-capitalised, global life insurance group. Following completion of its latest transactions, Resolution Life, including the Group’s reinsurance base, will manage approximately US $90bn of assets, employ around 1,800 people and provide services to over 3 million policyholders.

Resolution Life Australasia was established following the acquisition of AMP Life in 2020 and is now one of the largest life insurers in Australasia servicing ~1.1 million customers and managing A$30bn of assets.

Employing over 1,000 people in the Australasian region, we offer a unique customer proposition, committed to servicing our existing customers, providing them with competitive premiums, quality investment management, excellent customer service and efficient claims management. 

We are committed to providing our customers with peace of mind that their insurance policies, superannuation, and investment plans are in safe and trusted hands for the long term.
 

Growth in the Australasian market

Resolution Life established its Australasian presence with the acquisition of AMP Life from AMP Limited in July 2020, which has allowed a strong presence in the Australian and New Zealand markets; in 2022 Resolution Life announced the proposed acquisition of AIA Australia’s superannuation (super) and investments business, which is anticipated to deliver significant value and scale benefits and will strengthen our position as a life insurer in Australasia. The acquisition will increase our funds under management and administration by more than A$8 billion1 and add approximately 162,000 AIA Australia super and investment customers to Resolution Life’s existing 1.1 million Australasian customer base. AIA Australia’s super & Investment along with the newly acquired Macquarie Life annuity customers, will benefit from Resolution Life’s dedicated focus on existing customers and significant investment in technology as well as its’ digital advancement.

Partnership with Blackstone

In 2022, Resolution Life Group also announced a strategic partnership with Blackstone, which is one of the world’s largest alternative asset managers. This partnership solidifies Resolution Life’s position as a leader in the multi-trillion-dollar global life and annuity consolidation market by combining Resolution Life’s global liability management platforms and Blackstone’s insurance asset management capabilities. The partnership is expected to bring significant strategic and financial benefits in both the immediate and long-term. The combination of life insurance liability management expertise, operational confidence, investment capabilities and fundraising will provide a continuing commitment to the life insurance industry. Closing is subject to regulatory approval and anticipated to occur in the second half of 2023. You can read more about this partnership here.