MLC Life Insurance acknowledges the announcement of the proposed acquisition of the MLC Wealth business by IOOF, pending regulatory reviews.

MLC Life Insurance is not part of the NAB Group of Companies and is not a party to this transaction.

MLC Life Insurance became a member of the Nippon Life Group following the completion of its sale from NAB in October 2016. As a part of the deal, NAB retained a 20% ownership of MLC Limited. MLC Life Insurance continues to operate under the MLC brand by licence.