ALP heavy hitter joins life insurer

In a statement, MetLife said Nathan Rees had been appointed to the position of head of external affairs and public policy at the insurer, effective from 11 March.

MetLife said Mr Rees would bring more than 25 years' political experience to the role, which would involve working closely with government and regulators on behalf of the insurer and "reviewing proposed legislative change for the life insurance industry in Australia".

Mr Rees was most recently assistant national secretary of the FSU and was premier of NSW from 2008 to 2009.

“Nathan brings a wealth of policy experience that will help MetLife further engage with key policy stakeholders," MetLife chief of staff and external affairs Wendy Tse said.

"MetLife has a long history of actively engaging with government and policy makers to help build a life insurance industry that provides real value to customers and is sustainable. We intend to keep doing this by building strong partnerships and providing valuable insights through our research and data."

Ms Tse said the insurer would "continue to support advisers and their clients and promote the value of life insurance for customers and other stakeholders across the life
insurance ecosystem".

The news comes as the insurance industry gears up for ASIC's review of LIF commission settings, which is set to commence this year with the results released in 2022.

It also comes on the back of a tough business environment for life insurers, with revenue across the sector having declined 68.9 per cent year-on-year in 2020.