As Richard Nunn prepares to celebrate his first anniversary as CEO of MetLife Australia on 1 May, he looks back on a year of challenges and successes. 

First, the Australian Government’s Protecting Your Superannuation legislation, aimed at guarding super savings from unnecessary erosion by fees and insurance costs, came into effect on 1 July 2019. Like other players in the market, MetLife Australia had to renegotiate its pricing with its partner super funds. According to Nunn, ‘the team did an amazing job’.

He says MetLife Australia’s group business, the third biggest in the market, is growing. ‘It’s quite mature and established, and I am really happy with the team and the way we are progressing.’

On the corporate insurance side, where MetLife is the biggest player in the Australian market, Nunn is also pleased with the way the MetLife sales team succeeded in retendering contracts through partner brokers and retained market share.

Much more challenging, however, has been MetLife’s attempt to break into the retail life insurance market.

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