Zurich will launch an ‘internal’ advice business in Australia to serve ANZ life clients, a spokesperson for the insurer confirmed to International Adviser.
The move follows ANZ’s restructure of its business and, while it will not be shutting down its financial planning arm, it will concentrate on providing financial advice to high net worth customers via ANZ Private, the company told IA.
The Zurich spokesperson added: “We can confirm that Zurich is taking the opportunity to establish an internal advice capability through a new life insurance advice business to be called Zurich Assure.
“Zurich Assure will start servicing these customers with existing retail life insurance policies from 29 July 2022.
“Zurich Assure will focus on providing affordable and professional life insurance advice to existing retail life insurance customers (including life insurance held in superannuation funds).”
The insurance giant is also in talks with ANZ to offer positions to some of the Australian firm’s employees, “especially those who express interest in transitioning over to Zurich”.
