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ANZ doubles down on insurance after dealer group sale

ANZ has sold its OnePath pensions and investments and aligned dealer groups to rival institution IOOF but says it will continue to invest in its insurance business.

In a statement, the bank’s group executive for wealth Australia, Alexis George, said the sale of OnePath P&I and its aligned dealer groups was a good outcome for advisers, and that ANZ Wealth will continue to invest in insurance through its OneCare range.

“We have a responsibility to the millions of Australians who trust us to protect them and the things that matter to them, through the products and services we offer,” she said.

“We take that responsibility seriously and we will continue investing in this business.”

Additionally, ANZ Wealth recently announced a number of senior internal appointments to fill newly created roles within the life insurance business in a move aimed at addressing “shifting customer expectations”, changes in regulation and a rise in mental health related claims.

These include the appointments of Andrew Casperson as head of individual life, Shannon McKay as head of life insurance customer engagement, and Maria Falas as head of mental health and wellness, life insurance.

ANZ doubles down on insurance after dealer group sale
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