Insurer plans big expansion into Melbourne

Metlife

Off the back of almost doubling its market share last year, Metlife has announced plans to open an office in Melbourne.

The life insurer currently has a Sydney presence only but recently secured a substantial reinsurance deal with VicSuper.

Metlife Australia CEO Damien Green says they are recruiting for 32 new roles across claims, product and pricing, client relationship and finance.

Recent industry figures show that in 2013 Metlife more than doubled its group risk premiums written and increased its share of the group risk market from 5.7% to 10.3%, making it the fourth largest life insurer in the country.

“MetLife is strongly committed to the group insurance segment in Australia and to life insurance overall and intends to continue investing to generate and support long term growth,” Green says.