MLC Limited

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MLC
Subsidiary
Industry Finance and Insurance
Founded 1886
Key people
Andrew Hagger, CEO
Products Superannuation, Insurance, Investments
Services Financial Planning
Number of employees
5,000
Parent Nippon Life Insurance, Japan
Divisions MLC Advice, MLC Financial Planning
Website www.mlc.com.au

MLC is National Australia Bank's wealth management partner providing investment, superannuation, insurance, and financial advice to corporate, institutional, and retail customers.

History[edit]

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 made a partial (50%) takeover of MLC Life Limited and, in 1985, MLC Life Limited became a wholly owned subsidiary of Lend Lease. MLC's multi-manager, multi-style investment philosophy was introduced in 1986.

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

In February 2015, a takeover of the insurance arm by Nippon Life Japan was announced, with the finalisation to be completed October 2016. Co-branding with National Australia Bank is contracted for a further 2 years. However, all other aspects of the business will be separated. MLC will no longer be the sole provider of life insurance products to National Australia Bank.

Campus MLC[edit]

MLC's North Sydney head office was completely refurbished in 2002 and renamed Campus MLC.

Campus MLC won the 2002 RAIA NSW Interior Architecture Award and the 2002 RAIA National Interior Architecture Award.[2]

References[edit]

External links[edit]