| Type | Subsidiary |
|---|---|
| Industry | Finance and Insurance |
| Founded | 1886 |
| Key people | Steve Tucker, CEO |
| Parent | National Australia Bank |
| Website | www.mlc.com.au |
MLC is an Australian asset and wealth management company, which was acquired by the National Australia Bank (NAB). It provides investment, superannuation, insurance and private wealth services to corporate and institutional customers.
MLC holds the number one position for personal insurance annual inforce premiums with 14.1% market share [1] and is the second largest provider of superannuation in Australia with 16.4% market share [2].
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The company traces its origins to The Citizens’ Assurance Company Limited, registered on 31 December 1886 for the 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”.
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. [3]
MLC was purchased by National Australia Bank on 30 June 2000 from Lend Lease Corporation Ltd.[4]
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.[5]
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