Powered by MOMENTUM MEDIA
lawyers weekly logo
Advertisement
Superannuation
11 July 2025 by Maja Garaca Djurdjevic

Beyond Silicon Valley: How super funds thrived on diversification in 2025

Superannuation funds have posted another year of strong returns, but this time the gains weren’t powered solely by Silicon Valley. In contrast to ...
icon

Netwealth edges in on rival HUB24 with record FUA net flows

The wealth management platform remains a strong performer in the platform space, generating a record $15.8 billion in ...

icon

South Korean exposure pays off as ASX-listed ETF jumps 32%

The iShares MSCI South Korea ETF (IKO) gained 32.1 per cent in the first six months of the year, marking South Korea’s ...

icon

Instos anticipate crypto to feature in traditional portfolios by 2030

Three-quarters of institutional investors believe cryptocurrencies will form part of traditional portfolio allocations ...

icon

US tipped to be ‘the big loser’ of Trump’s expanding trade war: AMP

The rollout of further tariffs in the US from August is expected to decrease economic growth in the US in the ...

icon

Government cements RBA overhaul with new rules

The government has cemented its overhaul of the RBA’s governance with the release of an updated Statement on the Conduct ...

VIEW ALL

Tower Australia to hire 100 more staff

  •  
By Alice Uribe
  •  
2 minute read

Tower Australia chief outlines plans to significantly build the group insurance business on the back of the AustralianSuper contract win.

Tower Australia is planning to expand its group insurance business and hire up to 100 more staff on the back of a $600 million insurance deal with AustralianSuper.

"We've got a lot more staff to hire and have started that journey, but now we'll be looking to reorganise and secure a significant number of people," Tower Australia chief executive Jim Minto said.

Minto said Tower Australia had been recruiting key managers over the past six months for the claims business and the group insurance business, as well as technology specialists.

"Now we are looking to hire more people such as claims case managers and those that can rehabilitate members," he said.

"You need lots of extra people who can help members when they are unwell and help restore their health and get them back work."

He said despite the size of the AustralianSuper contract, he wanted to preserve service levels for current clients.

"The reality is that we have very good clients and we are looking to build up the entire area of this business. We just see it is as a major opportunity going into the future and we did it based on the conviction that it was an attractive area to be involved in," he said.

Tower Australia has four teams focussing on group insurance, with one being dedicated to AustralianSuper.

"We've spent a lot of time trying to design a very unique service model and I think that was one of the real points of difference. We can really partner with organisations and make a difference," Minto said.

The new three-year insurance agreement will save AustralianSuper members more than $48 million in premiums, with many of the savings being directed into increased levels of cover to address underinsurance.

The new arrangements will come into effect in early 2010.