(12 October 2004 – Australia) Financial services company Asteron is targeting baby boomers and Generation X-ers alike with a new wealth creation and life insurance product named Wealthstar.The product range includes both personal and business super and pension products for individuals and small businesses.
Asteron is part of the Promina group and looks after some 286,000 life insurance policies in Australia and New Zealand. The company has A$8.3 billion funds under management, A$4.3 billion of funds under administration and more than A$25.2 billion in funds under administration.
Asteron chief executive officer Dennis Fox said launching the product was a reflection of how the company had been revitalised since Promina listed in 2003.
He said the two targeted demographic segments were under insured and poorly prepared with low levels of superannuation. He said clients were seeking simple products that were transferable through each life stage.