9 March 2021 - APRA urges life insurers and superannuation funds to address sustainability of insurance in superannuation

The Australian Prudential Regulation Authority (APRA) has seen a re-emergence of some concerning developments in group life insurance in superannuation in relation to premium volatility, availability and provision of data, and tender practices. APRA’s view is that these developments, if unaddressed, are likely to result in poor member outcomes, and adversely impact the availability and sustainability of life insurance through superannuation.

APRA expects registrable superannuation entity (RSE) licensees and life insurers to take note of the concerns and expectations set out in their letter, and take steps to address them.

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