In an industry first, Thomson Geer, in a team led by Partner, Scott Charaneka, has acted for non-profit superannuation fund, QSuper, as the super fund giant launches its own life insurance company, QInsure.
QSuper manages $60 billion of retirement savings for its 550,000 members, and in 2015 was ranked as the top performing growth fund in Australia. In May 2016, it received approval from the prudential regulator (APRA) to establish QInsure, a wholly owned life insurance company with a separate independent board. If successful, this is a move for QSuper that could send shockwaves through the $44 billion life insurance sector, and could well be the catalyst for other big super funds to follow suit.
Thomson Geer is excited to have worked with QSuper on this historic deal, which may play such a significant role in advancing Australia’s superannuation landscape.