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Industry -
Welcome to the June edition of our newsletter.
New finance minister, new chapter for superannuation and insurance
Following the 2025 federal election, TAL welcomes The Hon. Dr Daniel Mulino’s appointment as Minister for Financial Services and Assistant Treasurer. With his previous role as Chair of the House of Representatives Economics Committee, we’re confident in Minister Mulino’s familiarity with financial services policy issues already underway in the portfolio.
Of particular interest to TAL is the Minister’s deep understanding of insurance, and the role it plays in protecting Australians. We’re confident he’ll bring this thoughtful approach to key policy area in superannuation, including retirement incomes and service standards.
Celebrating excellence at the Chant West awards
It was great to be able to support our super fund partners at the 2025 Chant West Super Fund Awards in Sydney on 21 May, where Australia’s super funds were recognised for their outstanding service to members.
Congratulations to Aware Super, taking home four awards, to AMP with three, and to all our partners recognised as finalists too - including Team Super, Rest, Cbus, NGS Super, MLC MasterKey Business Super, AustralianSuper, Brighter Super and Russell Investments. These awards highlight the genuine impact our industry can have in supporting better financial outcomes for Australians.
Understanding how members use group insurance
I’d also like to acknowledge Amy McDonald, our Head of Product and Pricing for her contribution to the recent article published by the Actuaries Institute titled “The Value of Group Insurance in Superannuation: Utilisation”. The piece offers a clear and thoughtful analysis of how members are engaging with group insurance through superannuation, providing valuable insights into claim incidence rates over a member’s working life and the role of insurance in supporting member wellbeing. For anyone interested in data-driven insights that help shape better outcomes, it’s well worth a read. You can find the article here (Actuaries Institute, June 2025).
Proudly protecting more Australians
The most important work we do at TAL happens when members and their families face life's most difficult moments, through the claims we pay and the support we provide.
Last month, TAL CEO Fiona Macgregor announced our total claims paid for the 2024 financial year.* Across TAL, we paid $4.7 billion in claims, supporting more than 54,000 customers. *
Our Group Life & Retirement business contributed $2.8 billion of this total, supporting 36,033 members and their families through illness, injury and loss.
These figures reflect the scale of support being delivered through our insurance offering, and the important role we play alongside our partners.
* Claims statistics based on total claims paid under TAL Life Limited Insurance products (excluding funeral insurance) between 1 April 2024 and 31 March 2025.
Meet the team: Michael Lin
We spoke to Michael Lin, TAL’s Head of Product and Pricing - Strategic Partners, about how TAL is supporting our super fund partners to navigate rising mental health claims and a changing regulatory landscape. Michael shares his insights on using data to spot emerging trends and tailoring insurance products to member needs. He’ll also be presenting at our upcoming TAL Partner Roundtable Commercial insights into the mental health experience. For more information, speak to your Partnership Manager.
CPS 230 update
From 1 July 2025, APRA’s CPS 230 standard will set clearer expectations for managing operational risk, disruptions and third-party oversight. TAL has prepared for these changes and is working closely with our partners to support a smooth transition and maintain strong member outcomes.
Fostering inclusive workplaces
TAL’s Chief Executive of Group Life & Retirement, Jenny Oliver, joined a panel at the Australian Disability Network Conference in May to share practical insights on building more inclusive workplaces. She highlighted how early support, genuine connection and compassionate leadership can make a meaningful difference in helping employees return to work after acquiring a disability.