1 Updates
Transfer Complete
We are pleased to advise that the transfer of Swiss Re Life's direct life insurance business to Hannover Re under Part 9 of the Life Insurance Act 1995 (Cth) was completed at 12.01am on 1 December 2025 (AEDT).
If you are an affected policy owner, the information on this website remains relevant to your policy and the effect of the transfer on you.
If you have any questions about your life insurance policy, please contact your insurance administrator on the contact details listed at the bottom of this page.
Updated: 01/12/2025
Scheme confirmed
We are pleased to advise that the Federal Court of Australia has confirmed the transfer of Swiss Re’s direct life insurance business to Hannover Re under Part 9 of the Life Insurance Act 1995 (Cth). The transfer will be completed at 12.01am on 1 December 2025.
If you are an affected policy owner, the information on this website remains relevant to your policy and the effect of the transfer on you.
If you have any questions about your life insurance policy, please contact your insurance administrator on the contact details listed at the bottom of this page.
Updated: 15/11/2025
Insurance transfer announced
We are pleased to confirm that the Confirmation Hearing is scheduled for 9:15am on 14 November 2025 at the Law Courts Building, Queens Square, Sydney, New South Wales.
If you are an affected policy owner and have concerns, or want to object to the Scheme, you can attend the Confirmation Hearing and request to be heard by the Court. To arrange this, you will need to contact the lawyers of either Swiss Re or Hannover Re before 28 October 2025. You can find their contact details in the Scheme Summary.
Updated: 10/08/2025
2 Overview
In July 2023, Swiss Re Life & Health Australia Limited (Swiss Re) stopped writing new life insurance policies in Australia through its direct insurance channel.
In April 2025, Swiss Re entered into an agreement with Hannover Life Re of Australasia Ltd (Hannover Re) to acquire Swiss Re's direct life insurance business.
In August 2025, Swiss Re and Hannover Re applied to the Federal Court of Australia (the Court) to transfer Swiss Re's existing direct life insurance business to Hannover Re under Part 9 of the Life Insurance Act 1995 (Cth) (the Scheme).
If the Court confirms the Scheme and regulatory approvals are obtained, the transfer will proceed, and Hannover Re will become the new insurer of Swiss Re's direct life insurance policies.
Some key things to note:
- The terms and conditions of your policy will not be affected by the transfer.
- Unless we inform you otherwise, payments for your policy will automatically transfer to the new insurer.
If confirmed by the Court and regulatory approvals are obtained, the Scheme is expected to take effect from 1 December 2025, unless the Court specifies a different date.
We will update this site as the Scheme proceeds through the Court process.
A list of products included in the transfer is set out in the Scheme document provided below. These documents provide information about how the transfer may affect your rights as a policy owner and where you can find more information.
This webpage was prepared to help ensure you have access to important information about the Scheme.
3 Scheme Documents
This document, approved by the Australian Prudential Regulation Authority, outlines the key details of the Scheme. It provides important information including an overview of the Scheme, how the Scheme will affect policy owners, the rights of policy owners, how you can request to be heard in Court and the expected date that the Court will consider the application for confirmation of the Scheme.
Scheme Document
This is the legal document that sets out the terms of the transfer and is subject to Court approval. It describes what happens as a result of Swiss Re transferring, and Hannover Re agreeing to accept and assume, Swiss Re's rights and liabilities associated with the transferring policies. The Scheme must be confirmed by the Court and regulatory approvals must be obtained for Swiss Re and Hannover Re to proceed with the transfer.
Notice of Intention
This document, approved by the Australian Prudential Regulation Authority, is the formal notice to affected policy owners about the Scheme.
Actuarial Reports
These are actuarial reports assessing the impact of the Scheme on the interests of affected policy owners. An actuarial report has have been prepared by each of Swiss Re's Appointed Actuary, Hannover Re's Appointed Actuary and an independent actuary.
4 Frequently asked questions
ahm health insurance, a business of Medibank Private Limited, ABN 47 080 890 259 (ahm) is a health insurance company that has been around long enough (over 40 years) to know that lots of Australians want no-nonsense health insurance. With ahm health insurance, you can rest easy knowing you’re backed by one of Australia’s largest health insurers, Medibank.
Swiss Re Life & Health Australia Limited, ABN 74 000 218 306, AFSL 324908 (Swiss Re) is the issuer of your ahm accidental death, life insurance or life insurance express policy, which you purchased through ahm.
Hannover Life Re of Australasia Ltd, ABN 37 062 395 484, AFSL 530811 (Hannover Re) belongs to the Hannover Re Group and has been a trusted partner in the Australasian market for more than 30 years, offering a broad range of insurance and reinsurance solutions. The Hannover Re Group holds a credit rating of AA- ("very strong") from Standard & Poor's, indicating a robust financial position and the ability to meet financial obligations.
Committed to assisting customers when they need it most, Hannover Re's claims philosophy focuses on providing a smooth claims journey by assessing each claim on its own merit with integrity, compassion, and fairness. More information is available at Hannover Re's website, www.hannover-re.com/australia/claims.
ahm accidental death, life insurance and life insurance express policies will be transferred from Swiss Re to Hannover Re on the transfer date approved by the Federal Court of Australia, which is proposed to be 1 December 2025 (Transfer). The Transfer is subject to confirmation by the Federal Court of Australia.
It is standard practice that transfers of this kind go through a Federal Court of Australia approval process, which must consider the interests of policyowners.
In April 2025, Swiss Re entered into an agreement with Hannover Re to acquire Swiss Re's direct life insurance business. This includes the transfer of your ahm accidental death, life insurance or life insurance express policy, which you purchased through ahm. The Transfer will be implemented through a process known as a Scheme under Part 9 of the Life Insurance Act 1995 (Cth) and is subject to confirmation by the Federal Court of Australia at a hearing scheduled for 9:15am (AEDT) on 14 November 2025 at the Law Courts Building, Queens Square, Sydney, New South Wales. If confirmation is granted by the Court, and once the Scheme is implemented, your ahm accidental death, life insurance or life insurance express Policy and any related claims will automatically transfer to Hannover Re on the transfer date approved by the Federal Court of Australia, which is proposed to be at 12:01am (AEDT) on 1 December 2025.
Swiss Re made the decision to stop selling direct life insurance in Australia and withdraw from the direct life insurance market globally.
There is no change to your ahm health insurance policy.
Throughout the transfer process, and following, your ahm life insurance policy stays active, subject to its terms and conditions, including payment of premiums. The Transfer will not change:
- The terms of your policy;
- How you pay for your policy;
- Your rights and obligations; and
- How you contact ahm life insurance to manage your ahm life insurance Policy and claims.
The Transfer will not change any applicable discounts you currently receive for your premium under your ahm accidental death, life insurance or life insurance express policy.
After the Transfer is complete, you can contact ahm Life Insurance on the same contact details as before to notify any new, or enquire about any previously notified claims.
Phone: 1300 052 584, Monday to Friday, between 8:00am and 8:00pm AEST.
Accidental death, life insurance and life express claims will continue to be processed and assessed on the same terms and conditions and in alignment with the Life Insurance Code of Practice.
If the Scheme is confirmed by the Court your ahm accidental death, life insurance or life insurance express policy and any payments that you make for the policy will be automatically transferred to the new insurer. You do not need to contact ahm Life Insurance or your bank or card issuer to facilitate the Transfer.
The effective date of the Scheme will be confirmed by the Court but is provisionally scheduled for 12:01am (AEDT) on 1 December 2025. Once the date is confirmed we will update our website with this information at www.ahm.com.au/swissre-transfer.
If the Court approves the Scheme, or if there are any changes to the Transfer, we will update our website at www.ahm.com.au/life-insurance/help-and-support.
Please contact ahm Life Insurance on 1300 052 589, Monday to Friday, between 8:00am and 8:00pm AEST (except for public holidays) or by email at service@life.ahm.com.au if you have any questions in relation to the Transfer, or if you require further information.
Swiss Re currently holds your personal information as a ahm life insurance policyowner. As part of the Transfer, your personal information will be transferred to Hannover Re, who will use it for the same purposes that Swiss Re informed you about when you first obtained your policy. Hannover Re will hold, use and disclose your personal information as outlined in its privacy policy available at www.hannover-re.com/australia/privacy.
There is a review process which includes:
- Actuaries for Swiss Re and Hannover Re, and an independent actuary, each reporting on the likely impact of the Scheme on affected policyowners. You can review these documents on our website at www.ahm.com.au/life-insurance/help-and-support;
- The ability for you and other policyowners to attend and be heard at the Court hearing; and
- Court confirmation of the Scheme, which it will only give if appropriate, after considering the impact of the Scheme on the interests of policyowners.
Your premiums won’t automatically increase because of the transfer of your ahm life insurance policy to Hannover Re, and the terms of your policy will stay the same as a result of your ahm life insurance policy being transferred to Hannover Re.
The premium that applies to your Policy at the time of the Transfer will be the same as what was set out in the most recent premium schedule you received from us.
Going forward, Hannover Re can only make changes to your premium in the specific situations explained in your Product Disclosure Statement — and if that ever happens, they’ll give you notice first.
You can continue to request changes to your policy by contacting us on the below contact details.
Phone: 1300 052 589, Monday to Friday, between 8:00am and 8:00pm AEST (except for public holidays).
Email: service@life.ahm.com.au
Requests for changes to your policy that are submitted up to 28th November 2025 will be reviewed by Swiss Re. If the Court confirms the Scheme, requests for changes to your policy submitted after close of business on 28th November 2025 will be reviewed by Hannover Re after the Transfer Date. Any requests for changes received by Swiss Re that are not decided before the Transfer Date will be passed to Hannover Re for decision after the Transfer Date.
Under the Life Insurance Act 1995 (Cth), Swiss Re is required to provide affected policyowners with certain information about the proposed Scheme. Once all documentation has been provided or otherwise made available to affected policyowners, Swiss Re and Hannover Re will apply to the Court to seek confirmation of the Scheme.
The application for confirmation of the Scheme is scheduled to be heard by the Court on 14 November 2025. Should the Court confirm the Scheme, it will determine the exact time and date of the transfer. Swiss Re and Hannover Re have proposed an effective date of 1 December 2025 (Transfer Date).
The Scheme will not proceed unless it is confirmed by the Court. If the Scheme is not confirmed, then your policy will not transfer to Hannover Re.
If the proposed Scheme is confirmed by the Court, your policy will automatically transfer to Hannover Re. The Scheme does not involve a process to opt out of it.
You can provide feedback, or request a copy of the Scheme Document, during the consultation period by contacting us on the details below:
Phone: 1300 052 589, Monday to Friday, between 8:00am and 8:00pm AEST (except for public holidays).
Email: service@life.ahm.com.au
All feedback will be captured, and a summary will be provided to the Federal Court as part of its consideration of the Scheme.
The consultation period will begin on the date the Notice of Intention is published and will continue until shortly before the confirmation hearing, scheduled to be held at the New South Wales Registry of the Federal Court, located at Law Courts Building, Queens Square, Sydney on 14 November 2025 at 9:15am (AEDT).
5 Contact us
Please contact us on the details below if you have any questions regarding the transfer between Monday and Friday 8am – 8pm AET (excluding public holidays).
Phone : 1300 052 589
Email : service@life.ahm.com.au
Address : ahm life insurance
PO Box 6728
Baulkham Hills NSW 2153