Important Notice for Integrity Life Policy Owners

As advised, Integrity Life Australia Limited (Integrity) closed to new business in September 2023. Since then, Integrity has been working with insurers and intermediaries to transfer its portfolio of life insurance policies.  

As a result, Integrity no longer has any inforce retail or group insurance policies.  

• Integrity’s Retail Advised portfolio transferred to AIA Australia Limited on 1 March 2025 under Part 9 of the Life Insurance Act 1995 (Cth).
• Integrity’s Corporate Group portfolio has been transferred by their appointed intermediaries to alternate insurers or terminated at the Intermediary’s instruction.
• Details of who to contact for further information on these policies can be found on our website integritylife.com.au

We understand you may have questions and we would like to provide you with a further update regarding policies previously insured by Integrity. 

Transfer of existing liabilities  

Whilst Integrity no longer has any in force insurance policies, as part of our Run- Off Plan, we have identified three alternate insurers (Assignee Insurers) who have been assigned to manage Integrity’s remaining liabilities under Section 27A of the Life Insurance Act 1995 Cth. – ‘Assignment of liabilities to enable revocation’.  

The Assignee Insurers are AIAA Australia (AIAA), TAL Life Limited (TAL) and Hannover Life Re of Australasia Limited (HLRA).

For Corporate Group policies, determining which of these entities are assigned to Integrity’s remaining Corporate Group policy liabilities depends on a number of factors including:

• the insurer that the previous Integrity policy was moved to (i.e. TAL or another insurer),
• whether the previous Integrity policy was terminated outright (for example, it lapsed or was not renewed by the policy owner or intermediary),
• the method by which the previous Integrity policy was moved to an alternate insurer. This includes:
  • whether the policy was moved to TAL by way of the Special Offer to Corporate Group insurance policy owners (i.e. it was moved to TAL using the tri-partite agreement that formed part of that offer), or 
  • if it was terminated with Integrity and moved to another insurer, or 
  • if it was moved to TAL by means other than the tri-partite deed (for example, it was moved prior to the Special Offer being made or was moved as a result of TAL successfully tendering for the business). 

AIAA is the Assignee Insurer for the specific plans set out in the table below.

What does a s27A Assignment involve?  

A s27A Assignment involves Assignee Insurers (AIAA, TAL or HLRA) accepting an assignment of liabilities from Integrity. This process is governed by a Deed agreed upon by the parties, which has also been approved by APRA (as required by the Act). The Assignee Insurers hold a register of the previous Integrity policies for which they have agreed to accept an assignment of liabilities using s27A. 

What does a s27A Assignment mean in practical terms? 

Where liability is accepted by an Assignee Insurer, the following is taken to have occurred: 

• All policies accepted are to be treated for all purposes as if each policy had been transferred by novation from Integrity to the Assignee Insurer; 
• a policy owner of a transferring policy is taken to have the same rights against the Assignee Insurer as the person would have against Integrity had the person’s policy been transferred by novation; and  
• the rights of the Assignee Insurer against policy owner(s) of transferring policies are the same as they would be had the transferring policies been transferred by novation to the new insurer from Integrity. 

What remaining liabilities are being assigned? 

Remaining liabilities refer to:

• ongoing claims (claims incurred whilst Integrity was on-risk. This includes open and re-opened claims);
• past declined claims where these claims may be in dispute; 
• withdrawn claims which may be resubmitted; 
• Reported but Not Advised (RBNA) claims; and 
• Incurred But Not Reported (IBNR) claims (claims which happened during Integrity’s period of risk which are yet to be advised).  

Liabilities that arise after the termination of the previous Integrity policy and during the period that any successor policy is inforce are the responsibility of the policy owner’s new insurer. Any ongoing operational issues related to the day-to-day administration of the policy should be directed to the new insurer. The s27A assignment only applies to liabilities that would have remained with Integrity if we had continued to operate as a registered life insurer. 

How do I know which Assignee Insurer has accepted Integrity’s remaining liabilities? 

The table below sets out (by product type) which Assignee Insurer has accepted the transfer of Integrity’s remaining liabilities.