CALI boasts 99% life insurance sector membership

Mike Taylor

Managing Editor/Publisher, Financial Newswire

8 November 2022

The new peak body covering Australia’s life insurance industry – the Council of Australian Life Insurers – has attracted almost the full support of the sector with 99% of life insurers and 100% of reinsurers signing up.

CALI has been established to replace the Financial Services Council (FSC) as the life insurance sector’s peak representative body in Australia and now boasts 19 member companies which have become full members – an important milestone in terms of validating its peak body status.

Over time, the functions of the Life Insurance Code of Conduct established by the FSC are expected to be migrated under the CALI umbrella.

The CALI board reflects the foundations of the organisation and is made up of AIA Australia, ClearView, Integrity Life, MetLife, MLC Life, Pacific Life Re, Resolution Life Australasia, TAL and Zurich Financial Services.

The inaugural co-chairs are TAL chief executive, Brett Clark and AIA chief executive, Damien Mu.

The inaugural CALI chief executive, former Australian Bankers Association (ABA) policy executive, Christine Culpitt will start in her new role in January, next year.

The 19 members of CALI are:

All of the life insurers listed by CALI are still listed by the FSC as members. The option exists for companies to be members of both organisations.