Geoff Lloyd
St George Group has appointed AIG Life, a member of global insurance giant American International Group, as its new life insurance partner.
AIG Life will provide a range of services to St George Life and will also be the insurance partner for St George’s superannuation and platform business, Asgard.
AIG Life was selected following a comprehensive request for information (RFI) process that began late last year to find a partner to assist St George and Asgard to accelerate the growth of their insurance businesses, according to group executive wealth Geoff Lloyd.
He said AIG Life was selected to support St George’s accelerated growth plans for its life insurance businesses and to address underinsurance among Australians.
“AIG Life’s depth of experience, industry leading technology, excellent claims management and solid commitment to customer service demonstrate the important benefits we see the alliance providing our customers.”
“Our long-term partnership will make it easier for our distribution channels to provide clients with life insurance and give them confidence that, with processes such as claims management, there’s a global partner behind them.”
Tower, which currently provides the group life cover in Asgard, will be replaced by AIG Life over the next 12 months, according to Lloyd.
