TAL has acquired the remainder of online insurance comparator Lifebroker after holding a small stake in the company for three years.
The life insurance company said it acquired the remaining 90 per cent of shares on Monday after admiring Lifebroker's strategic focus on customer growth for the last few years.
Brett Clark, CEO of TAL Life, said Lifebroker would complement the company's existing offerings in the life insurance space.
"We also see digital capabilities becoming more and more important to allow customers to choose to access life insurance by whatever means they choose," he said.
"As the Australian market uses digital capabilities more and more, Lifebroker gives us further expertise, technical knowhow and practical insights that we can leverage."
The online life insurance comparison service, established in 2004, will retain its CEO Chris Eade.