MLC Life Insurance and Nippon Life Insurance Group – working together to protect Australians when they need it most.
Protecting you sits at the very heart of everything we do – that’s why we’re investing in your future. It’s also why we’ve partnered with one of the world’s leading life insurers – Nippon Life Insurance Group. We want to provide even better life insurance options for every Australian – to make sure you have access to life insurance products that are innovative, competitive and flexible enough to change as your needs change.
We believe you and your family’s future, your ability to earn an income or your ability to maintain your business, are worth protecting. Our goal is to make this as easy and accessible as possible for you, so you can get on with the most important things in life.
MLC founder James Garvan had a unique mission – to provide Australians with the enduring security and protection of life insurance. Nippon Life’s global expertise, built over 128 years, combined with MLC Life Insurance’s unparalleled experience in understanding the insurance needs of everyday Australians since 1886, means we are well positioned to continue to deliver on this mission.
MLC Life Insurance and Nippon Life Insurance Group: over 250 combined years and 12.4 million insured lives
Our partnership with Nippon Life began on 3 October 2016, when National Australia Bank Limited (NAB) sold 80% of its interest in MLC Limited (MLC Life Insurance) to the Nippon Life Insurance Company (Nippon Life). This has led to the creation of a dedicated life insurance business, MLC Life Insurance, in which NAB retains a 20% holding and Nippon Life an 80% holding.
MLC Limited operates the MLC Life Insurance business and is no longer part of the NAB Group of Companies. MLC Limited is part of the Nippon Life Insurance Group.
Nippon Life, founded in 1889 and based in Osaka, Japan, has 11 million customers* worldwide and has a mission to “help create a secure future for its customers”.MLC Limited, founded in Australia in 1886, has 1.4 million insurance customers* and is still fulfilling its original goal, “to bring the security and protection of life assurance within the reach of every man, woman and child”.
*(as at Sept 2016)