The merger will create a stronger, more resilient life insurance group that leverages the strengths of MLC Life Insurance and Resolution Life Australasia, backed by Nippon Life. The merger will provide scale and will underpin the continued drive for product innovation, exceptional services, and leading customer experiences. It reflects Nippon Life’s commitment to growth in the Australian market and the ambition to protect more people and their loved ones.

This is part of a broader transaction where Nippon Life will acquire the Resolution Life Group, which includes a global network of companies. It is a truly historical deal that will make Nippon Life one of the largest and strongest life insurers in the world. Global regulatory approvals are required before the transaction can be confirmed.

The merger represents a significant investment by Nippon Life, significantly increasing their commitment to the Australian market. Please refer to Nippon’s media release for specific financial details of the transaction.

MLC Life Insurance will continue to be open to new business. We have strong growth ambitions, with an ongoing commitment to bringing the confidence, security, and empowerment of life insurance to even more customers. This ambition and ongoing commitment will be further bolstered by the future merger with Resolution Life Australasia and Nippon Life’s global growth ambitions.

Customers and partners will benefit from enhanced products and services, improved customer experiences, and the financial strength and stability of the merged group. Nippon will be significantly increasing its commitment in Australia and the customer-centric philosophy of Nippon will be central to the strategy and operations of our new merged company.

Absolutely. We have strong growth ambitions, with an ongoing commitment to bringing the confidence, security, and empowerment of life insurance to even more people. This ambition and ongoing commitment will be further bolstered by the future merger with Resolution Life Australasia and Nippon Life’s global growth targets. Acenda will remain open to new partnerships.

These changes are a signal of our continued commitment to growth and provide opportunity for innovation that will flow through to even better experiences for members.

One of the outcomes of the merger is to enhance operational efficiency, allowing us to leverage the best practices and expertise of Nippon Life, MLC Life Insurance, and Resolution Life Australasia. This will lead to improved products and services for customers and partners.

Work has commenced to assess and determine the future operating model for Acenda. However, this takes time, and these decisions have not yet been made. We are committed to sharing regular updates as they become available.

These decisions have not yet been made. The timing for any such announcement is yet to be determined. However, we are cognisant of the impact of uncertainty on our business and accordingly, these matters are currently being assessed. Our people will be informed once decisions are made.

By combining resources and expertise, Acenda will focus on developing products and services that meet the evolving needs of customers and partners. We are committed to investing in the capability and expertise to drive innovation.

MLC Life Insurance will begin our transition to the Acenda brand from December 2024 and over 2025 you will see and hear more of our new brand. We are targeting to complete our transition to the new brand by late 2025. While the brand will change, our business will remain committed to delivering value for our customers and partners and ensuring that we maintain our promise for life.

Once the transaction is completed, Resolution Life Australasia will also transition to the Acenda brand in Australia. The intention is also for the Resolution New Zealand business to transition to the Acenda brand in due course.

MLC will continue its 138-year commitment to Australians as a provider of super, retirement, investment and advice solutions, under the ownership of Insignia Financial.

The Insignia Financial Group is under separate ownership to the Nippon Life Insurance Group.

The new brand, Acenda is inspired by the concept of ascending, symbolising progress and momentum. By embodying this spirit of progress, we will lead our organisation into a brighter future with our customers at the centre. Acenda:

• is supported by the strength and stability of one of the world’s largest and leading life insurers, Nippon Life Group
• provides best in class claims experiences
• offers award-winning health, wellness and recovery support for everyday
• has innovative products and services, and
• embodies an enduring commitment to putting customers at the heart of everything we do.

Acenda will be a full-service life insurer, leveraging the strengths of Nippon Life, MLC Life Insurance and Resolution Life Australasia. Customers and partners will benefit from enhanced products and services, improved customer experiences, and the financial strength and stability of the Nippon Life Group. Acenda will be one of the top three life insurers in the Australian market.

Customer and partner feedback is essential to the success of Acenda. We will actively seek input from our customers to ensure that we are meeting their needs and expectations as we evolve. Customer satisfaction and promoter surveys will continue to be undertaken to help us to improve.

There will be no changes to existing policies and cover, although in the future, product names will change. We’ll continue to offer customers and partners the same support. The nature of any insurance claim, new or in progress, will remain unchanged.

Any future changes such as the merger of policies and statutory funds will be subject to regulatory approval.

All our claims, wellness, rehabilitation and return to health programmes will continue uninterrupted. Customers will still work with the same caring experts and continue working towards their recovery goals.

The merger will have no direct impact on the pricing of the products.

Your premium and payment methods shouldn’t be impacted by this change. However, your premiums may change in future due to other factors, in line with regular review. You can learn more about how we calculate premiums here.

Our banking details will also remain as they are. If there are any changes to the way we manage your policies, we’ll inform you with advance warning and guide you through updating any details when and if the time comes.

There is no need to take any action at this stage.

To help make the transition clear, simple, and easy, we’ll contact all customers who hold insurance with us directly, or through our adviser, superannuation fund, and corporate partners, should they prefer. We’re updating our brand, but policy details will stay the same. We’ll also reach out to our partners to understand the impact this change will have on their business and work with them to facilitate updates at a mutually appropriate time (including supplying any co-branded collateral that may support their business).

Our agreements and relationship with you will remain unchanged. We’re updating our brand, but group insurance agreements remain otherwise unchanged.

We remain steadfast in ensuring our products and services continue with minimal disruption through this transition. While there will be a change to our brand, we are committed to minimal disruption and a seamless transition. Our team remains dedicated to supporting our customers and partners over the period.

The level of impact will vary depending on how our partners connect with existing systems however we will be working closely with them to understand the impact and timing of any changes that need to be made.

The Adviser Portal will remain the same in functionality and access. However, it will be rebranded to Acenda. We’ll also update the URL to reflect our new brand name. It will be business as usual but with a fresh new look. This will also apply to the Customer Portal.