Lifebroker commenced operations in 2004 and provides consumers with options to compare life insurance products from a wide range of different companies.

The acquired business adds to TAL’s existing portfolio in the retail, direct and group insurance markets.

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TAL Life CEO Brett Clark said consumers look for objective comparison of life insurance products and that is a fundamental proposition of the Lifebroker business model that will continue to be supported.

"Lifebroker has built a reputation on the objective comparison on life insurance products from a range of different life insurers. We strongly support consumer choice and a competitive life insurance market," Clark added.

TAL, which is owned by The Dai-ichi Life Insurance, is a second major life insurer in Australia offering services in core distribution channels including, direct to customers, through financial advisers and through group and workplace superannuation schemes.

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