As we reach the close of 2025, we reflect on a year marked by continued change and increasing expectations across the financial services sector.
Economic snapshot
Economic conditions steadied through 2025, with inflation easing but still influential in policy settings. The cash rate remained elevated for most of the year, and households continued to adjust to a higher cost environment. Global geopolitical uncertainty and the relentless march of AI kept markets on edge and placed pressure on long term planning across financial services. Regulatory reform, governance expectations and operational resilience remained priorities for all sectors.
Superannuation
Superannuation assets grew strongly to $4.5 trillion dollars in 2025, supported by strong contributions and the compulsory rate lifting to 12% from 1 July 2025.
A major shift occurred in retirement income strategy, where trustees faced greater regulatory and consumer expectations to demonstrate meaningful outcomes for members moving into retirement. McGing delivered significant work in this area, including detailed reviews of Retirement Income products, assessment of Product Disclosure Statements, target market determinations and independent modelling of products.
Life insurance
The life insurance industry experienced a year of transition. Premium growth, targeted product development, uplift to legacy and digital systems continue to be a focus. Structural challenges persisted particularly in increased mental health claims.
Insurers placed strong emphasis on customer experience. Claims processes, underwriting approaches and distribution channels all evolved to meet rising expectations. New and emerging risks and opportunities, including advice and longevity, continue to influence long term strategy.
A year of growth for McGing
What a milestone! We joined Count Limited and with Accurium as part of our group, we broadened our actuarial capabilities and offerings. This combination has expanded our analytics strength and deepened our ability to provide comprehensive advisory support across life insurance, superannuation, wealth management and investment.
We delivered a wide range of work, including product design reviews, regulatory and governance assessments, investment oversight, actuarial advice and detailed support for retirement income strategies. Our focus remained on providing pragmatic guidance that is commercially grounded and simple for clients to act on.
Looking ahead to 2026
We expect 2026 to bring continued focus on retirement outcomes, operational efficiency, risk management and technology driven change. The shift from accumulation to retirement will intensify, requiring clearer strategy, better modelling and stronger governance. Insurers will continue to balance growth with resilience, while investment markets will remain sensitive to global conditions.
Thank you
We thank our clients, partners and team for their trust and collaboration throughout 2025. Your support has made this a year of meaningful progress for us. We look forward to working with you in 2026 and contributing to your continued success.
Warm regards
Neekhil & Sean
Neekhil, Sean and the team at McGing Advisory & Actuarial provide a wide range of consulting services to life insurers, friendly societies, wealth managers and super funds. We don’t just observe these shifts; we combine deep actuarial and industry expertise to help financial services players meet these challenges to optimise growth.