Australian Retirement Trust (ART), which ranks as Australia’s second-largest superannuation fund, has named Zurich Financial Services Australia as its preferred group insurance provider for members with Super Savings accounts.
This move will see ART transition away from its existing arrangement with AIA Australia, although some elements of ART’s internal insurance offering will remain in place.
The selection of Zurich follows a competitive tender process initiated in July 2024.
ART representatives stated that the fund’s objective is to ensure members have reliable insurance coverage as part of their superannuation benefits.
“At Australian Retirement Trust, we want our members to feel safe and confident that insurance in super can help keep them and their family secure if life doesn’t go to plan,” a spokesperson for ART said in a statement, as reported by Investment Magazine.
According to ART, the organisation is now in the final stages of contract negotiations with Zurich and will communicate further updates to members once the agreement is finalised.
While the financial terms of the new insurance mandate have not been disclosed, ART’s most recent annual report indicates that premiums paid by members rose to $1.125 billion in 2024, up from $974 million the previous year.
Zurich has acknowledged its selection by ART, describing group insurance as a vital component of financial security for superannuation members.
“Zurich is honoured to have been selected by Australian Retirement Trust (ART) as the preferred insurer for its Super Savings account holders. Group insurance arrangements provide a critical safety net. If the unexpected happens, individuals and families can trust that cover will be there when they need it most. Through innovation and partnership, it will be our privilege to help make a difference and deliver an exceptional experience for ART and its members,” a Zurich spokesperson said in a statement sent to Insurance Business.
Separately, Zurich has announced plans to move its Perth-based operations to 140 St Georges Terrace, with the relocation scheduled for November.
As part of the move, Zurich will acquire naming rights to the commercial tower, marking the first time the insurer’s branding will appear on the building since its construction in 1975.
The new office arrangement involves a seven-year lease for 700 square metres on the 14th floor of the 30-storey building, which is managed by Centuria Capital Group.
The relocation is intended to consolidate Zurich’s Western Australian operations within the central business district, bringing together staff and resources in a single, centralised location.
