Login
Resolution Life grows investment and insurance business
Resolution Life has acquired the superannuation and investments business of health insurance company AIA Australia in a move to increase both its growth and funds under management.
Lauren Croft
Firm: Gilbert + Tobin (Resolution Life Australasia)
Value: Undisclosed
Area: M&A
Key players: The G+T team was led by corporate advisory partner Tim Gordon and also included lawyers Katrina Byrne and Madeline Connolly, superannuation partner Phil Turner, technology and digital partners Sheila McGregor and Melissa Fai and consultant Nikhil Shah, financial services regulatory experts Tanya MacDonald and Catherine Kelso and intellectual property expert Anna Smyth.
Deal significance: Resolution Life Australasia is a life insurer focused on the acquisition and management of life insurance policies. The business was purchased by AIA Australia as part of the acquisition of the Commonwealth Bank of Australia’s life insurance and investments business – known as “CommInsure Life”. It is an established superannuation, retirement and investment solutions provider, with more than $8 billion funds under administration.
Commenting on the deal, Mr Gordon said that G+T “were thrilled to advise Resolution Life Australasia on this major transaction”.
“These types of deals involve multifaceted regulatory and commercial issues around financial products and superannuation, and G+T is able to deploy a deep team of experts to assist our clients to navigate these complexities. We’re privileged to have been a part of this deal, which represents an outstanding outcome for both parties and will see Resolution Life Australasia increase its funds under management and administration by over $8 billion and see 162,000 AIA customers join its Australian membership,” he said.
Lauren Croft
Lauren is a journalist at Lawyers Weekly and graduated with a Bachelor of Journalism from Macleay College. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications and Travel Weekly. Originally born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling. She is also a keen snowboarder and pre-pandemic, spent a season living in a French ski resort.
