ANZ Life Insurance Named OnePath

On 30 November 2009 ANZ took 100% ownership of ING Australia. Previously, ING Australia had operated as a joint venture between ANZ (49%) and the ING Group (51%).

At the time of the acquisition, it was agreed that ING Australia could continue to use the ING brand under licence while it transitioned to its new brand. As with all big corporations ANZ refused to brand it as ANZ Life Insurance and announced OnePath Life Insurance as the new name and brand for ING Australia.

No more ING in Australia?

It's worth mentioning that ING doesn't cease to exist in Australia. OnePath is the new name for ING Australia - the superannuation, investment and insurance business. ING DIRECT, ING Investment Management and ING Real Estate continue to be owned by ING Group and will continue to operate under the ING name and brand.

What does it mean to existing ING Australia customers?

While ING Australia is changing its name to OnePath there will be no change to the insurance policies you have in place today. The business that serves you under the OnePath brand will be the same as the one you deal with today. That means the same adviser and the same agreements you have with your adviser. Even contact numbers and address details will remain the same.

All ING Australia branded policy documents will remain valid and you don't need to change them into new ANZ life insurance brand. When policies are updated or amended you will then receive OnePath branded documents.

After OnePath Life Insurance through ANZ branches?

New advertising campaign supporting the change of name will start in early November and run across a range of mediums including TV, print, outdoor and online. And from mid November all OnePath products will be available through ANZ branches.

Don't forget to shop around for life insurance and/or income protection insurance. Contact Rate Detective on 1300 793 143 and one of our experienced advisers will compare all major insurance companies in Australia (ANZ life insurance included) to find you the best deal.

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Published on October 10-th, 2010 in Life Insurance
Damon Rasheed is the CEO of Rate Detective, an Australian financial service comparison sites specialising in Life Insurance, Income Protection Insurance and home loans. Damon holds a Master's Degree in Economics from the University of Melbourne and has been involved in many start-up internet businesses.

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