Christine Cupitt

The Council of Australian Life Insurers (CALI) is proud to welcome retirement income leader and life insurer Allianz Retire+ as the industry peak body’s newest full member.

This new addition expands CALI’s reach across the life insurance industry to 20 members.

Just 18 months since CALI’s inception, the organisation’s list of members is growing.

“We are absolutely delighted to welcome Allianz Retire+ as a full CALI member. Our members are the driving force behind CALI’s continuous evolution as the leading voice of life insurance in Australia,” said CALI CEO Christine Cupitt.

“This milestone reflects the strength of our industry and our commitment to giving Australians peace of mind on their best and worst days.”

The new addition to CALI’s membership demonstrates the peak body’s dedication to expanding its member network and ensuring Australians view the life insurance industry as accessible, understandable and trusted.

“We are thrilled to join CALI and contribute to the advancement of the industry. Being a full CALI member provides us with a unique platform to engage with our industry peers, shape and advocate for policy reform and drive positive change for all Australians,” said Allianz Retire+ CEO, Adrian Stewart.

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Mr Rodda further strengthens the wealth management capability and is responsible for leading the retirement specialist’s distribution strategy for the wealth management arm of the business. Within this capacity Mr Rodda will oversee the national sales efforts, technical services and platform and research relationships to deliver its flagship solution, Allianz Guaranteed Income for Life (AGILE) to the advice community as demand for retirement solutions increase.

Allianz Australia Life Insurance CEO, Adrian Stewart said, “We are thrilled to welcome Brendon to the Allianz Retire+ team. As an experienced leader within financial services, he offers a range of expertise across disciplines which will enhance our growth strategy.

Since the successful launch of Allianz Guaranteed Income for Life (AGILE) on the HUB24 platform in November 2023, we have seen a significant increase in the number of advisers seeking scenario modelling for their clients’ portfolios. The AGILE solution helps deliver certainty to end clients and de-risks a client’s portfolio by guaranteeing income without giving up accessibility.

To the middle of February, AGILE is currently available to 4,678 financial advisers across 26 licensee approved product lists and is rapidly growing as financial advisers embrace the solution and recognise the important role it can play in a client’s overall portfolio. This activity is encouraging as we work to deliver greater access to advisers through our partnership with HUB24.”

With over twenty years’ experience within financial services Mr Rodda has a deep understanding of the wealth industry. Prior to joining Allianz Retire+, Mr Rodda oversaw the global wealth management distribution strategy at PIMCO in his role as Executive Vice President. Throughout his nine years working at the investment manager, he built and fostered broad relations across the industry, including dealer group heads, platform distribution partners and key market participants. Prior to that Mr Rodda also spent four years at Macquarie contributing to the strategic growth of the business, as Associate Director.

AGILE is a next generation retirement solution that delivers a guaranteed income for life, provides full advice platform integration opportunities and can be embedded within superannuation funds and account-based pensions. The solution also enables advisers to construct retirement strategies with certainty, years in advance of a client’s retirement.

Allianz is a global leader in the provision of retirement solutions. With over 30 years’ experience in the US retirement space, it is also a market-leader in Germany and across Europe delivering customer-centric retirement solutions.

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Adrian Stewart

Allianz Retire+ has announced its retirement income solution Allianz Guaranteed Income for Life (AGILE) will be added to market leading wealth management platform HUB24 in Q4 of this year.

The latest announcement responds to the call for action from the Government for the financial services industry to meet the increasing demand for more innovative retirement income and longevity solutions.

Allianz Retire+’s policy administration technology is leading edge and specialises in delivering multi decade guaranteed income for life solutions. AGILE is designed to anchor a client’s retirement portfolio while still allowing advisers to manage the overall total asset allocation and income buckets for clients. It also allows flexible access to capital should circumstances change.

Allianz Australia Life Insurance CEO, Adrian Stewart said, “For the first time ever advisers will have access to a guaranteed income for life which sits within a client’s superfund account or Account Based Pension which allows clients to select AGILE as an option within their portfolios.

With full administration and reporting functionality, advisers will be able to proactively plan for their client’s retirement while still in the accumulation phase, as well as the retirement income phase. Giving advisers greater control of their client’s asset allocation and allowing advisers to accurately model their client’s income for life.

The addition of AGILE to the HUB24 platform is a collaboration we are extremely proud of. We have been working closely with HUB24 over several months to make AGILE available on the HUB24 platform.

Minister Jones has continued the Government’s focus on Australians having access to retirement income solutions, this integration allows trustees and advisers to deliver better outcomes for Australian retirees.”

Managing Director of HUB24, Andrew Alcock said, “As more Australians enter retirement there is increasing demand for innovative products that can provide sustainable retirement income to provide security throughout this phase of their life.

“By collaborating with Allianz Retire+ to launch AGILE on HUB24, we’re making available a market-leading product that provides advisers the solutions they need to help clients achieve their retirement goals and empower better financial futures for more Australians.”

AGILE also recently received an “Approved” rating from investment research house Lonsec Research Pty Ltd and a “Recommended” rating from Zenith Investment Partners.

Allianz Group is a global leader in the provision of retirement solutions. With over 30 years’ experience in the US retirement market, the group has a presence in over 70 countries and serves 126 million retail and corporate clients. Allianz has been offering customer-centric solutions for Australians since 1914.

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Adrian Stewart

Allianz Retire+ has announces its Group Retirement Solutions designed to support superfunds preparing to deliver large scale and multi decade solutions to their members.

The industry is experiencing a retirement revolution with Allianz Retire+ leading the charge by addressing innovation in guaranteed income for life solutions and full technology integration allowing superfunds to manage large cohorts of retirees as a group and individually.

In response to the evolving retirement income landscape and the increasing need for integrated solutions, Allianz Retire+ has built the capability for superfunds to allocate retirement income solutions to members at scale. AGILE as a Group Retirement Solution allows superfunds to offer a more comprehensive and streamlined retirement experience to their members and allocate to specific cohorts.

As a global insurer Allianz has the scale to deliver a guaranteed income for life addressing the biggest concern for Australian retirees living frugally in retirement due to fear of running out of money. Partnering with an established life company enables superfunds to tap into the global expertise of Allianz’s network of actuaries and product specialists to co-develop solutions for members who have delivered similar solutions in other more established markets, like the US.

Allianz Australia Life Insurance CEO, Adrian Stewart explains, “We are revolutionising the way people think about retirement solutions and its delivery, to meet the urgent need of retirees. We have developed Group Retirement Solutions and just as you would partner with a life company to provide life cover, superfunds can now partner with a life company to provide retirement solutions that can be managed at the group level.

We understand that delivering retirement income products at scale is a major challenge for superfunds, which is why we have built our product and technology capability to deliver bespoke solutions in partnership with superfunds. This includes proposed changes where superfunds may default members into retirement solutions at the point of retirement.

Superfunds can take advantage of our infrastructure to deliver a more integrated and comprehensive retirement experience for their members, ultimately helping them achieve greater financial security in retirement. Our strategic partnership with Link Group brings rapid integration into the existing pension account services, enabling members to engage with their retirement income strategy on their platform.

The industry is experiencing a retirement revolution and we are committed to partnering with superfunds to deliver tailored, multi decade solutions at scale for members.”

The announcement follows the Government’s adoption of the recommendations within the Quality of Advice Review (QAR) allowing superfunds to provide more retirement advice and information to their members.

Allianz Group is a global leader in the provision of retirement solutions. With over 30 years’ experience in the US retirement market, the group has a presence in over 70 countries and serves 126 million retail and corporate clients. Allianz has been offering customer-centric solutions for Australians since 1914.

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Marcus joins the retirement income specialists from UBS Asset Management following an eight-year tenure, where he most recently held the role of Head of Wholesale Client Coverage. Within this capacity Marcus was responsible for developing and implementing sales strategy and retention for the Australian and New Zealand Wholesale market.

With over twenty years’ experience across the wealth sector Marcus was instrumental in forging enduring connections within the advice community, both on a national scale and within boutique dealer groups. Having started his career as a financial adviser he shares a deep understanding of the advice community and what tools are required to help support clients, especially when planning for retirement.

Speaking on the appointment Allianz Australia Life Insurance CEO, Adrian Stewart said, “We are pleased to welcome Marcus to the Allianz Retire+ team to support advisers and wholesale clients in Victoria. As a business we are continually evolving to meet the needs of retirees, advisers and superfunds, Marcus’ addition is testament to this.

We are assembling a strong team of industry leaders who understand the advice model and are committed to strengthening relationships as we continue to deliver AGILE to market and other solutions into the future.”

Head of Distribution Wealth Management, Andrew Stewart said, “Marcus’ expertise and leadership will be a valuable asset to our growing team. Having experienced managers available to support advisers is critical as we continue to bring next generation retirement income solutions to the market, and we are pleased to have Marcus on board.”

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Stephen Armstrong joins the retirement income specialists in the newly created role of State Manager Western Australia and South Australia, to service the west and south coast of Australia. Prior to joining Allianz Retire+ Stephen was a Key Account Manager for AMP’s Platform business and brings nearly three decades of experience to the role.

Allianz Retire+ has also appointed Natalie Philips as NSW State Manager. Natalie joins with over thirteen years of Business Development experience most recently at Challenger.

Speaking on the appointments Allianz Australia Life Insurance CEO, Adrian Stewart said, “Both Stephen and Natalie bring valuable experience within the wealth space to the Allianz Retire+ team. They are committed to working closely with advisers to make next generation retirement solutions available for retirees.

We see huge potential across both the West and East coast of Australia, which is why we have created the new role for State Manager for WA and SA to service those regions. Stephen‘s decades of experience and deep adviser relationships across the west coast will be welcomed as we continue supporting advisers to secure greater certainty for their clients in retirement.

While Natalie’s deep sector knowledge of retirement income solutions and annuities will support the efforts in NSW to deliver solutions to advisers and their clients. Natalie has a deep understanding of the Sydney IFA and Adviser market, having cultivated strong relationships within the industry.

These new appointments continue to bolster our expertise and will elevate our support for advisers in delivering retirement income solutions to their clients.”

Echoing Mr Stewart’s remarks Head of Distribution Wealth Management, Andrew Stewart said, “We are excited to welcome Stephen and Natalie to the Allianz Retire+ team. Both are experienced professionals in their respective regions and will support in delivering AGILE and future solutions to the market.”

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Adrian Stewart

Allianz Retire+ has announced the launch of its new retirement income product, Allianz Guaranteed Income for Life (AGILE) available in early March.

AGILE is a next generation retirement solution that delivers a guaranteed income for life, will provide full advice platform integration opportunities and can be embedded within superannuation funds and account-based pensions. The solution also enables advisers to construct retirement strategies with certainty, years in advance of a client’s retirement.

Retirement Income Covenant gives green light to innovation

Allianz Retire+ recognised the significant changes within the financial services industry, specifically the call for greater innovation with retirement income products following the Retirement Income Covenant (RIC) which came into effect in July last year.

“Innovation in retirement products has consistently been deprioritised and surpassed by more urgent issues concerning the industry. That all changed in July last year, following the implementation of the RIC a bright line was clearly drawn by the government and APRA. The starting gun has been fired,” said Allianz Australia Life Insurance CEO, Adrian Stewart.

“The industry has been put on notice. We need to collaborate, take action and deliver solutions to members and clients or it might just be regulated with mandated outcomes.

“The grey tsunami is coming and over the next 20 years there’s going to be up to 10 million Australians who will be in retirement^[1]. We have assembled a team of global specialists with deep sector expertise to build new solutions that align to the urgent needs of advisers and institutions to deliver these next generation products for Australian retirees.”

Changing the game for advisers and superfunds

AGILE is designed to enhance the provision of retirement planning for advisers. It offers the ability to lock in a guaranteed rate of income while clients are still in the accumulation phase (pre-retirement) or retirement income phase, to better plan retirement strategies with certainty.

The solution was developed in consultation with some of the biggest super funds in the country and the adviser community, direct retiree feedback and the global Allianz network in established retirement markets.

Mr Stewart explained, “This process took considerable time, but we believe this product sets a new standard for the industry, for the first time a retirement product allows advisers to integrate retirement solutions into their current ecosystem that deliver outcomes with certainty for the entirety of their client’s life.”

The company has made significant investments in leading edge technology and retirement solution infrastructure to support a pipeline of innovative products that deliver certainty and flexibility.

AGILE is founded on the most successful retirement solution that’s tried and tested from Allianz Life Company in the US which manages over $165bn USD in retirement savings.

Overcoming longevity risk through next gen solutions

The universal problem for Australians preparing for and during retirement is the fear of running out of money.

“When we talked to advisers, retirees and super funds, it was unanimous. Retirees need certainty of income and the last thing they need is their income to go down or be volatile in a market drawdown.

The time is now for advisers and retirees to consider anchoring their portfolios with a guaranteed income. The markets are highly volatile, inflation is rife and the income profile for retirees can be locked in now, market linking their asset base (up to a maximum return) with downside protection, until the income is turned on,” said Mr Stewart.

The role of a guaranteed income in portfolio construction is to provide stability that retirees can rely on throughout their retirement, despite market conditions. As one of the world’s largest insurance companies, managing risk is in Allianz’s DNA.

Access to capital is another key issue for retirees. Which is why next generation products like AGILE provide flexibility by allowing retirees to withdraw funds at any time.

Mr Stewart concluded, “We are deeply committed to protecting Australians’ hard-earned savings and delivering the best solutions for both industry and retirees. We are just getting started.”

Allianz is a global leader in the provision of retirement solutions. With over 30 years’ experience in the US retirement market, the group has a presence in over 70 countries and serves 126 million retail and corporate clients. Allianz has been offering customer-centric solutions for Australians since 1914.

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[1] Australian Bureau of Statistics

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Jason Hunt joins the company as Head of Marketing, Sandrine de Bonhome has relocated from Allianz headquarters in Munich to take on the role of Chief Financial Officer and Sandra Bridgewater starts a new position as Head of Human Resources.

Allianz Australia Life Insurance CEO, Adrian Stewart said, “We are committed to delivering flexible retirement solutions to superfunds, platforms and advisers. We have assembled the right people with the right skills to realise this vision. These new appointments continue to bolster our expertise in delivering greater certainty to Australian retirees.”

Speaking on the appointments, Mr Stewart said, “Jason brings nearly two decades of marketing experience to the business. He offers a unique mix of product and relationship management expertise communicating across institutional, wholesale and retail channels. His most recent role as Perpetual Asset Management Australia’s Head of Marketing saw him deliver strong results in driving the strategic growth of the business.”

“Sandrine is a highly credentialed risk management specialist, boasting a Bachelor of Mathematics from the Universite de Namur, a Master of Mathematics from the Universite Libre de Bruxelles and Master of Financial Mathematics from Kings College London.

Sandrine is a specialist in corporate risk management, product development and capital management. She has over a decade of experience working with Allianz, holding multiple positions across the group and the globe. We are thrilled to have Sandrine relocate to Australia from Allianz headquarters in Munich to support our growth ambitions.

We also welcome Sandra, who has extensive experience managing people in various HR leadership positions over her twenty-year career. Sandra is committed to building and influencing the people and culture agenda to deliver commercial people and culture solutions.”

The appointments of Jason, Sandrine and Sandra follow a raft of senior hires for the company towards the end of last year. Including Andrew Stewart joining as the Head of Distribution, Malcolm Weir as Head of Life Protection and Jasmine Jirele as a new Board member from the Allianz Life business in the US. This now completes the re-direction of the business under the new CEO.

Mr Stewart continued, “We have aligned our business to help our partners deliver on the objectives of the retirement income covenant which came into effect from July last year. We now have deep sector expertise within the business, and are well positioned to support advisers, trustees and superfunds deliver retirement solutions to their clients and members.”

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Allianz Australia Life Insurance CEO, Adrian Stewart said, “Our vision is clear, we are committed to delivering flexible retirement solutions to superfunds, platforms and advisers. These new appointments at the executive and Board level will support our strategic reset in delivering better outcomes for all Australian retirees.”

Allianz Retire+ welcomes Andrew Stewart to take on the new role of Head of Distribution Wealth and Malcom Weir as Head of Life Protection.

Speaking on the appointments, Mr Stewart said, “Andrew has in excess of 28 years in distribution experience and brings with him deep relationships with the financial planning community. Andrew has held senior roles in Australia’s largest institutions including Colonial First State, IOOF and Ausiex (Commsec). Andrew deeply understands the needs of planners and advisers. His experience and extensive network align to our refreshed distribution approach to deliver next generation retirement income solutions on platform.”

“Malcolm’s experience within life protection and insurance as the General Manager, Life Customer Solutions for CommInsure and most recently Head of Insurance at NobleOak, will be vital in guiding the business to achieve our renewed objectives. He brings 25 years of deep actuarial expertise and senior leadership.”

President and Chief Executive Officer Allianz Life Insurance Company of North America Jasmine Jirele joins the Board of Allianz Retire+ to provide global insight from Allianz’s US$165 billion business.

“Jasmine brings a wealth of experience building and leading Allianz’s retirement business in the US. We welcome her knowledge and expertise in pioneering products that are tried and tested in a more mature market like the US,” said Mr Stewart.

Allianz is a global leader in the provision of retirement solutions. With over 30 years’ experience in the US retirement space, it is also a market-leader in Germany and across Europe delivering customer-centric retirement solutions.

Allianz Retire+ has spent the past 12 months focused on restructuring the business functions to strengthen product manufacturing capability. The company has made significant investments in technology and retirement solution infrastructure to support a pipeline of innovative products that cater to the unique need of Australian retirees.

Mr Stewart continued, “As one of the only dedicated retirement specialists in the Australian market, we are committed to leading development in the retirement space. We have invested in world class retirement technology and administration services to deliver products with cutting edge platform integration and flexibility to address the needs of retirees. We have also hired product actuarial capability and product marketing specialists to realise our vision.”

Following the retirement income covenant which came into effect from July, trustees and superfunds are increasing their focus on retirement solutions offered to members.

Life companies have the capital and scale to deliver lifetime guarantees. As one of the world’s leading insurance companies, Allianz has a large, fortified balance sheet and the capital to manage this risk.

“We believe life companies have a significant role to play in solving the retirement problem within Australia and can deliver certainty by offering lifetime guarantees. We are ready to partner with superfunds and platforms to deliver these next generation solutions. Retirement is different and we must all work together to find solutions for the benefit of retirees,” said Mr Stewart.

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Mr Stewart will assume responsibilities for Allianz Australia Life Insurance Limited and Allianz Retire+ Powered by PIMCO (Allianz Retire+), taking over from Matthew Rady, who will be leaving the business.

Mr Stewart was formerly Head of Client Management, APAC ex-Japan for PIMCO and before that, Head of Australia and New Zealand for the firm. During his tenure at PIMCO, Mr Stewart founded Allianz Retire+ and has served as a Board Member since 2018.

David Plumb, Chairman of Allianz Australia Life Insurance Limited, stated: “I would like to thank Matt for his strong leadership in guiding the Allianz Retire+ team through the successful transition from project to business across his three-year tenure. Matt leaves having built a solid platform for the company and we wish him every success in the future.

“In appointing Adrian as acting CEO, the Board is instilling a proven leader with a deep understanding of the worldwide capabilities of the Allianz Group in retirement income and life protection solutions. Adrian’s strong track record in growing client-focused financial services businesses in the Australian market keenly positions us for significant growth.”

Adrian Stewart commented: “The unique capabilities across this business deploying the global resources of Allianz are unrivalled and present a significant opportunity in meeting the long-term retirement income and life protection needs of Australians.

“Since launch, the team has built a strong market presence and established key distribution channels. Our focus will be to continue this momentum, ensuring we offer our partners a broad suite of innovative and market-leading products.

“I look forward to working with the team to deliver on our strategic objective of expediting our product development capabilities and deepening our client partnerships across the institutional and wealth management channels.”

Mr Stewart brings over 28 years of investment and financial services experience to the firm. Before joining PIMCO in 2014, he was the head of wholesale distribution, marketing and product management at Macquarie during his seven years with the Australian bank.

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