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Australian Life Insurance (ALI) today confirmed that Tasso Papachatgis will take up the role of CEO as a change of ownership sees a changing of the guard.
Keith Cohen and Brian Pillemer, who founded the business in 2002, will now step back from the business having sold their investment in the insurer to current shareholders Yarra Capital Partners.
According to ALI the insurer has recently achieved record sales growth as a result of accelerating broker interest in mortgage protection insurance.
The group’s sales reportedly rose by 48 per cent in February compared to February 2008 while its broker partners climbed by 54 per cent.
Mr Papachatgis said he looked forward to continuing to drive ALI’s growth and development.
“We’ve seen broker demand for mortgage protection insurance soar and I’m excited about the potential there is for us to partner brokers in growing their businesses through including an independent mortgage protection solution in their mortgage process.”
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