South African financial services firm PPS has launched PPS Mutual in Australia, providing access to a retail life risk mutual offering.
Under this model, select retail investors within particular professional fields (including medicine, accounting, law and engineering) can "share in the profits of the insurance that they buy" through financial advisers, according to PPS Mutual chief executive Michael Pillemer.
Pillemer added, "We believe the timing is right for the re-emergence of a well-constructed mutual model within the highly competitive retail life risk insurance sector in Australia.
"We are confident that our approach will prove successful with professionals, with early indications from the advisory community showing strong support for our new endeavour.
"We are very pleased to be partnering with PPS (SA) on its first venture into the Australian market, APRA regulated insurer NobleOak Life Limited, and one of the world's largest reinsurers."
We invite you to watch our latest video featuring Zurich Investments senior investment strategist Patrick Noble.
The question of how to generate a satisfactory return to meet investors' needs is becoming ... Watch video
We invite you to watch our latest video featuring Bell Direct chief executive officer Arnie Selvarajah.
In the video and accompanying article he explains how easily the increasing number of advisers using ... Watch video
Financial Standard editor Mark Smith presents a roundup of the week's biggest industry news and executive appointments. In this week's news:
O'Dwyer says life insurance back on the agenda
After being ... Watch video
We invite you to watch our latest video featuring the head of ANZ ETFS, Kris Walesby.
In it he introduces a new ETF, due for launch later in July, which tracks the Euro Stoxx 50 index of major companies ... Watch video
It is often said by equity managers with a mandate to scour the entire globe for investment ideas that getting the geographic allocation right in any given year is the most important driver of returns.
That's ... Watch video
Get it Daily
FREE to your inbox, get the Financial Standard Daily Email.