ALI Group has formed a long-term strategic alliance with global life insurer Metlife under which Metlife will become the insurance partner for ALI Group’s new mortgage and loan protection products, ALI Group announced.
Metlife was attracted to simplified life insurance in the mortgage broker/home buyer segment of the Australian market and ALI Group’s position in this space, according to ALI Group.
“This is a pivotal and exciting development for our business as it secures an insurance partner with a strategic interest in the long-term growth and success of ALI Group and brokers who offer cover,” said ALI Group executive chairman Huy Truong.
The alliance will enhance the service ALI Group’s brokers and policyholders receive, he said.
ALI Group has 4,000 mortgage brokers and has purpose built its business to provide simplified mortgage and loan protection via the mortgage broking industry, the company said.
