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Life insurance in Australia turns 175 today - and it all started with Asteron

 

Happy birthday! Life insurance in Australia turns 175 - and it all started with Asteron.

During the month of September the life insurance industry in Australia turned 175 - the first life policy was sold by Alliance Assurance, now known as Asteron Life Limited. Asteron is part of the Suncorp Group.

In September 1833 Alliance Assurance issued its first life policy in Australia to Joseph Tice Gellibrand, a barrister of the Supreme Court of Tasmania, who became Attorney-General of Tasmania in 1824.

What’s more, this policy was also the subject of payment of Australia’s first claim on a life insured in 1837.

Asteron is proud to be issuer of the first life insurance policy in Australia - and especially to have paid the first claim! This means that for 175 years we've been delivering on our promise to Australians to protect them financially, when they need it most.

Jordan Hawke, General Manager of Asteron said, "It is wonderful that life insurance has such an historical link with the early settlers of our country. With roots steeped in history, it's exciting to also think about the future of our industry."

"Asteron is proud to have been delivering on our promises for 175 years. With our passion for life insurance we look forward to continuing this commitment to Australians over the next 175. Happy Birthday life insurance".

Asteron. Part of the Suncorp Group.

Important note:

The information provided is current as at 5 September 2008 but may be subject to change. The material has been prepared without taking into account a potential investor's objectives, financial situation or needs. Before making a decision based on this material a potential investor should consider the appropriateness of the advice having regarding to their objectives, financial situation and needs. A potential investor should read the Asteron Lifeguard® Product Disclosure Statement (PDS) which is available from www.asteron.com.au, or Level 18 Suncorp Centre, 36 Wickham Terrace, Brisbane QLD 4001,and consult their financial adviser before making any decision to acquire a product.

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Asteron Life™ is committed to providing customers with long term financial security. We provide life insurance products including Income Protection Covers, Trauma Cover, Total & Permanent Disablement (TPD) Cover, Life Cover and Business Expenses Cover. To obtain a copy of our privacy statement, please contact us on 1800 221 727 or visit the following website www.asteronlife.com.au/privacy to view or download the policy.

Suncorp supports and adheres to the Life Insurance Code of Practice (Code). The Code has been developed voluntarily by the Life Insurance industry through the Financial Services Council to promote high standards of service to consumers, provide a benchmark of consistency within the industry, and establish a framework for professional behaviour and responsibilities. Download the Code here. For more information contact the Financial Services Council on (02) 9299 3022 (local call cost), email info@fsc.org.au or visit www.fsc.org.au