Former MLC and Perpetual CEO joins new insurance industry entrant

Former CEO of MLC and Perpetual, Geoff Lloyd, has been announced as the market entrant’s chair of the advisory board, while former Bankers Trust Australia director Rodney Payne will join as chairman.

“iExtend represents an opportunity for the insurance industry to demonstrate its innovation and commitment to being there for Australians by providing life insurance policyholders who are committed to cancelling their policies with another option,” Mr Lloyd said.

Mr Payne added: “iExtend truly addresses a gap in the market, one which if addressed, can provide a lot more certainty and sustainability to insurance by helping Australians maintain valuable insurance life cover even when their circumstances change.”

Meanwhile, Peter Clifford has been confirmed as iExtend’s distribution manager for Queensland.

CEO David Sarkis said he is delighted at the talent joining the iExtend team which he says will be a boost both for the insurance industry and financial advisers.

“We have an exciting, fresh and innovative offer and it is great to see that not only advisers are responding enthusiastically, but also experienced industry professionals who know iExtend is filling a gap in the life insurance market,” Mr Sarkis said.

“We are fortunate to have leading industry professionals at iExtend working to ensure advisers understand our offering and are provided the opportunity to retain and support clients in their best interest, despite having elected to cancel their life insurance.”

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.