MLC Limited

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MLC Australia
Industry Financial Services
Founded 31 December 1886
Area served
Products Superannuation, Life Insurance, Investments and Advice
Number of employees
over 5,000

MLC provides wealth management solutions to corporate, institutional and retail customers, and has been helping them create the best possible future for over 130 years. MLC offers investments, superannuation and financial advice as part of the National Australia Bank’s (NAB) wealth management group.

MLC is one of the market leaders in providing super and retirement solutions with sophisticated investment and protection products that aim to build and protect wealth. 

MLC Life Insurance is a standalone business operated by MLC Limited.  As at September 2016 it had 1.4 million insurance customers.


The company traces its origins to The Citizens’ Assurance Company Limited, registered on 31 December 1886 for the stated purpose “to popularise Industrial Life Assurance, and to carry it to the homes of the working classes by issuing policies for small amounts and receiving the premiums thereon each week”.[citation needed] It later became known as Mutual Life & Citizens Assurance Company Limited.

In 1982, Lend Lease took ownership of MLC and in 1989 the ‘nest egg’ logo was launched – a symbol of growth and protection that MLC provides for its customers.

MLC was purchased by National Australia Bank on 30 June 2000 from Lend Lease Corporation Ltd.[1]

On 3 October 2016, MLC Life Insurance began a new chapter through the creation of a strategic partnership between NAB and Nippon Life.  This new partnership has created a specialised life insurance business in which NAB retains a 20% shareholding and Nippon Life holds an 80% of the shares in MLC Limited, which operates the MLC Life Insurance business. MLC Life Insurance is Australian-led and managed.


MLC Australia has received recognition from various industry and media bodies, acknowledging its strong customer focus

Recent awards include:

  • MLC (investments and superannuation)50 Best Australian Shares Return 2011-2016, Super Ratings awards 2016
  •  Asset allocator of the year, Money Management Fund Manager of the year 2016
  •  Adviser Choice Risk Company of the Year, Money Management Adviser Choice Risk Awards 2016.

MLC Life Insurance

  • Cheapest Term & TPD Insurance, Best of the Best Awards Money Magazine 2016
  • Life Company of the Year, Financial Review Smart Investor Blue Ribbon Awards 2016

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