Mortgage Shield has partnered with TAL, formerly known as Tower Australia, who are Australia’s largest independent Life Insurer.
About TAL.
We’re very proud of our origins, which go back to 1869 with the creation of the Government Life Insurance Office in New Zealand. We reached Australia in 1990 as TOWER, demutualised in 1999, and with the acquisition of recognised Life industry brands such as Adriatic Life, Friends Provident and FAI Life, we quickly and firmly established ourselves as a key player in the Australian Life market.
In 2006, a formal demerger between the New Zealand and Australian businesses of TOWER Limited saw us listing on the Australian Securities Exchange as TOWER Australia Group Limited (ASX code: TAL).
The demerger kicked off a remarkable period of growth for our new Australian company and after the addition of the PrefSure (2006) and InsuranceLine (2008) companies to our team we have never looked back.
Since 2006 we have grown the size of our business five-fold (inforce premium), delivered compound annual profit growth up 22%, established a team of 1,100 people strong, won an enviable list of awards and firmed up an 11 per cent market share – third in the market – on Life business alone.
The Dai-ichi Mutual Life Insurance Company (‘Dai-ichi Life’), one of Japan’s and one of the world’s major life insurance companies, became a cornerstone shareholder in TOWER Australia when it acquired a 28% shareholding in 2008. In April 2011, TOWER Australia became a wholly owned subsidiary of Dai-ichi Life and was removed from the Australian Securities Exchange. Now we are a wholly owned subsidiary of Dai-ichi Life, we will be presented with attractive opportunities for our future and will help us further strengthen and expand our market position and the great offering we provide to over 2.5 million Australians.
Since Dai-ichi Life has taken part in Australia’s insurance landscape, the Tower name has changed to TAL.
And that’s just in the past five years. Imagine what we can do in the next.
