Zurich to take on ANZ customers for new life insurance advice business

A spokesperson told ifa in a statement that it will establish an “internal advice capability” through new business, Zurich Assure.

“This follows ANZ’s decision to focus its financial advice services on high net-worth customers through ANZ Private. Zurich Assure will start servicing these customers with existing retail life insurance policies from 29 July 2022,” the spokesperson said.

“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).

“Zurich remains committed to the independent financial advice market, and retail advice will continue to be provided through these partnerships,” he added.

ANZ later confirmed to ifa that it will not be shutting down its financial planning services, but rather focus on high net-worth customers through ANZ Private.

It is yet to be disclosed how many advisers and staff will be retained by Zurich in the move.

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.