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Happy 175th, life insurance!

The Australian life insurance industry chalked up its 175th anniversary last week.

On September 5 1833 Alliance Assurance issued the first life policy in Australia to Joseph Tice Gellibrand, the Attorney-General of Tasmania. The policy also triggered the first claim when Mr Gellibrand died four years later.

Alliance Assurance was later incorporated into Asteron, now part of the Suncorp Group.