Macquarie Life is a retail life insurance provider, recognised as a market leader for service and innovation. Established as part of Macquarie Group, it has offered insurance products through Macquarie Wrap since 1999.
With a culture of supporting financial advice through innovation, Macquarie Life provides efficiency and choice while delivering outstanding service. As a result, industry award recognition has been consistent across the last six years – the most recent being named in the Canstar Innovation Excellence Awards for new financial products and services (March 2013), as well as winning the Consumer Innovation award at the Financial Services Council (FSC) Insurance Awards (March 2013).
In addition, Macquarie Life has been awarded five-star status in the Beaton Benchmarks Life Insurance Intermediaries Study, for six consecutive years. This is an Australian first and makes Macquarie Life the most consistent performer in the industry over this time.
Macquarie Life Limited is a registered life insurance company and is subject to the Australian Prudential Regulation Authority (APRA) prudential framework. APRA regulations define minimum capital requirements that must be held by life insurance companies to fund future liabilities (i.e. claims) for the actual and projected insurance policies held. It is a legal requirement that the capital held by Macquarie Life Limited, to protect the interests of its life insurance policyholders, be held in statutory funds solely for the purpose of Macquarie Life Limited’s insurance operations. This capital cannot be used to support any other Macquarie business.
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