Metlife has continued its focus on the group superannuation arena, picking up the mandate to provide cover to GuildSuper.
The insurer announced today that the mandate represented an extension of its long-term relationship with Child Care Super.
It said GuildSuper and Child Care Super formed the Guild Retirement Fund and that Metlife had been insuring Child Care Super members since 1998.
Guild Super managing director, Mario Pirone said he believed the extension of the partnership with Metlife would benefit GuildSuper members.
Metlife chief executive officer in Australia, Marc Lieberman said the mandate reflected the company's commitment to bringing long-term value.
Amid a challenging market environment, three super fund CIOs have warned against ‘jumping at shadows’.
The professional body is calling for the annual performance test to transition to a two-metric test, so it better aligns with the overarching duty of super fund trustees to act in the best financial interests of their members.
AustralianSuper, Rest, and HESTA agree on the need to retain and enhance the test, yet they differ in their perspectives on the specific areas that warrant further refinement.
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
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