MLC Life claims its origins to The Citizens Assurance Company Limited, which began in 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 June 2000 MLC Life was purchased by the National Australia Bank June 2000 from Lend Lease Corporation Ltd.
Today, MLC Life is Australian insurance company, which is the second largest provider of superannuation in Australia with 16.4% of the market share, and holds the number one position for personal insurance annual inforce premiums with 14.1% of the market share.
