PPS Mutual has announced a transition in its board leadership, appointing Dr. Anthony Asher as chair of the board of directors.
Asher succeeds Mike Jackson, who is stepping down after a career spanning more than 50 years in the life insurance sector.
Jackson will remain on the board for the next year to help facilitate a smooth handover.
Asher, an actuary and associate professor at the UNSW Business School, joined the PPS Mutual board in 2024.
He has also contributed to the Actuaries Institute and participated in various non-profit initiatives.
The leadership change coincides with a period of expansion for PPS Mutual. The company recently reported that its membership exceeded 15,000 as of August 2025, with in-force premiums reaching $106 million for the financial year.
PPS Mutual was also recognised as Australia’s top-rated life insurer in the 2025 Adviser Ratings Financial Advice Landscape report, achieving a Net Promoter Score of 54.8 for the third year in a row.
The company ranked first in six adviser satisfaction categories, including product range, business development support, and client understanding, and placed second in several others such as adviser support and claims handling.
PPS Mutual’s business model targets professionals in fields such as medicine, law, and engineering, with distribution managed through a network of accredited advisers.
The company’s member base is relatively young, with around 60% under the age of 40. Its reported lapse rate of 5% remains well below the industry average of 14.2%.
Chief executive Michael Pillemer said Asher’s combination of sector knowledge, governance background, and strategic perspective positions him well to lead the board during this phase of PPS Mutual’s development.
“He brings not only deep technical and governance expertise but also a principled, values-driven outlook. His leadership will help ensure that PPS Mutual continues to grow sustainably while staying true to its mission of serving the needs of Australian professionals,” he said.
Asher said he was honoured to take on the role and emphasised the company’s member-focused approach.
“The foundation of PPS Mutual lies in alignment with our insured members – when the company succeeds, members share directly in that success. That creates a culture of trust that is rare in the insurance sector. I look forward to working closely with the board, Michael, and his executive team to continue building on this success and ensuring that we deliver consistently for members and advisers into the future,” he said.
Looking back on his tenure, Mike Jackson noted that his experience exposed him to a variety of industry models, but mutuals have repeatedly demonstrated durability.
“Over my career, I have seen many industry models tested, but mutuals have consistently stood out for their resilience. Globally, during the Global Financial Crisis and again in the pandemic, they held stronger reserves, responded flexibly, and put members’ interests first,” he said.
Commenting on the leadership transition, Jackson said: “For me, that strength lies in a model that balances commercial discipline with a genuine commitment to the people it serves. It has been rewarding to see that ethos take root in Australia through PPS Mutual, and I am confident Anthony will continue to guide it with the same focus. I look forward to supporting him during the transition.”
