July 23, 2014 6:14 PM ET

Insurance

Company Overview of The Colonial Mutual Life Assurance Society Limited

Company Overview

The Colonial Mutual Life Assurance Society Limited provides home insurance, car insurance, life insurance, annuities, loan protection, and investment growth bonds. It offers residential home package, investment home package, personal insurance, income protection cover, total and permanent disablement cover, trauma cover, third party property damage cover, and credit card insurance. The company was founded in 1873 and is based in Sydney, Australia. The Colonial Mutual Life Assurance Society Limited operates as a subsidiary of Commonwealth Bank of Australia.

Level 7

39 Martin Place

Sydney, NSW 2128

Australia

Founded in 1873

Phone:

1800 805 605

Fax:

1800 028 542

Key Executives for The Colonial Mutual Life Assurance Society Limited

Head of Adviser Distribution
Compensation as of Fiscal Year 2014.

The Colonial Mutual Life Assurance Society Limited Key Developments

The Colonial Mutual Life Assurance Society Limited Reports Earnings Results for the Half Year Ended December 31, 2012

The Colonial Mutual Life Assurance Society Limited reported earnings results for the half year ended December 31, 2012. For the half year, the company reported underlying net profit after tax of $124 million against $140 million a year ago. Cash net profit after tax was $170 million against $176 million a year ago. Net operating income was $333 million against $343 million a year ago.

The Colonial Mutual Life Assurance Society Limited Reports Audited Earnings Results for the Second Half and Full Year Ended June 30, 2012

The Colonial Mutual Life Assurance Society Limited reported audited earnings results for the second half and full year ended June 30, 2012. For the second half, the company reported underlying net profit after tax of AUD 106 million. Net profit before tax was AUD 151 million. Net operating income was AUD 300 million. Total operating income was AUD 402 million. Cash net profit after tax in the second half decreased 2% to AUD 148 million mainly due to poor Life claims experience partly offset by improved returns on shareholder capital. For the year, the company reported cash net profit after tax of AUD 299 million compared to AUD 305 million reported a year ago. Net profit before tax was AUD 351 million compared to AUD 359 million reported a year ago. Total operating income was AUD 851 million compared to AUD 834 million reported a year ago. Net operating income was AUD 643 million compared to AUD 635 million reported a year ago. Underlying profit after tax was AUD 246 million, a 3% decrease on AUD 254 million for the prior year. The business achieved strong in force premium growth across all insurance lines of business, reflected in insurance income growth of 11%. However, this was partly offset by the impact of the run-off of the closed investment portfolios.

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