Transfer of Integrity Life’s Retail Business to AIA Australia

In September 2023, Integrity Group Holdings Limited (IGHL) announced that its wholly owned subsidiary Integrity Life Australia Limited (ILAL) would cease writing new life insurance policies in the Retail Advised and Corporate Group Insurance channels. Since then, ILAL has been engaged in a process to transfer its business to other life insurers, and has identified AIA Australia Limited (AIA Australia) as a suitable partner for the majority of its existing retail life insurance business.

ILAL and AIA Australia are making an application under Part 9 of the Life Insurance Act 1995 (Cth) (Life Act) to the Federal Court of Australia (the Court) for confirmation of a scheme (Scheme) to transfer all the assets and liabilities associated with the majority of its retail life insurance business to AIA Australia. Should the Court confirm the Scheme, the transfer will proceed, and AIA Australia will become the new issuer of ILAL’s retail life insurance business. A list of the products included in the transfer is set out in the Scheme Summary – see the link provided in the Documents section below.

If confirmed by the Court, the Scheme is expected to take effect from 1 March 2025, unless the Court specifies a different date.

To ensure you have all the information you need about the proposed Scheme, this webpage provides:

• Documents relating to the proposed Scheme;
• Frequently Asked Questions (FAQs) about the transfer; and
• Contact details for questions or feedback regarding the Scheme.