UPFRONT
INTELLIGENCE CORPORATE ACQUIRER
TARGET
PRODUCTS COMMENTS
AIA Australia
The Colonial Mutual Life Assurance Society
The Federal Court of Australia has confirmed the transfer of CommInsure’s life insurance business, including CMLA, to AIA
Allsafe Insurance Brokers
QSure Insurance Brokers
The two Aviso Group companies have finalised their merger; QSure will retain its QSelect brand
Envest
All Parks Insurance; Ken Tame and Associates
Envest’s majority investment in All Parks and acquisition of Ken Tame and Associates give the insurance distribution company a presence in Australia’s caravan parks and campervan insurance sectors
The Riverside Company
Altius Group
AUB Group has completed the $57m sale of its stake in allied health business Altius Group
Steadfast Group
unisonSteadfast
Steadfast has increased its shareholding in unisonSteadfast to a majority stake of 60%
Aon unveils solution for vaccine shipments
Aon has spearheaded an industry collaboration to provide supply-chain protection for COVID-19 vaccine shipments. The initiative – which involves Parsyl, Ascot Group, Chubb, AIG, Munich Re and others – will provide transparent cargo insurance coverage, combined with sensor data and analytics, for vaccine shipments. The offering promises timely payment for doses that fall outside of the agreed-upon temperature range while being transported or stored. Real-time reporting of temperature deviations will also help mitigate losses and maximise the number of doses available.
Steadfast ups shareholding in unisonSteadfast
General insurance network giant Steadfast Group is now the major shareholder of global broking network unisonSteadfast after increasing its existing stake to 60%. Steadfast Group provides services to broker businesses across Australia, New Zealand, Asia and London, generating billings of more than $10bn in 2020. Meanwhile, unisonSteadfast, which is based in Germany and the US, has network brokers in more than 140 countries, generating US$30bn of gross written premium. This strategic move marks a significant evolution in the partnership of the broking networks and solidifies their commitment to growing the global distribution platform for their brokers. “The focal point of the future strategy will be making unisonSteadfast stronger and putting it into a position to grow into the future,” said Steadfast Group managing director and chief executive Robert Kelly. “We will start this by rolling out our risk management tools worldwide, our London market opportunities and ultimately our bespoke software solutions.”
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TAL partners with virtual healthcare provider
Life insurer TAL has tapped virtual healthcare provider Teladoc Health to provide mental health support to its customers. The program, Mental Health Assist, was initially offered to some of TAL’s advised customers and those with insurance through superannuation; it will now be available to eligible TAL customers on claims with a mental health condition. According to Dr Priya Chagan, general manager for health services at TAL, Mental Health Assist aims to improve mental health outcomes by fast-tracking access to a team of multidisciplinary mental health experts tailored to the customer’s situation.
www.insurancebusinessonline.com.au
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