David Hackett, esteemed CEO of MLC Life Insurance, has been honored with The CEO Magazine’s prestigious CEO of the Year Award at the highly anticipated 2019 Executive of the Year Awards. The ceremony, held last night at The Palladium at Crown in Melbourne, recognized Hackett’s exceptional leadership and outstanding contributions to the industry. This accolade underscores Hackett’s remarkable achievements and unwavering commitment to driving innovation and excellence within MLC Life Insurance, solidifying his reputation as a visionary leader in the field. Amidst a glamorous gala dinner held on November 14th at The Palladium at Crown in Melbourne, the Executive of the Year Awards once again celebrated and acknowledged the remarkable accomplishments of senior executives in Australia’s business sector. The event paid tribute to their significant contributions to the broader welfare of Australian society. For David Hackett, CEO of MLC Life Insurance, the evening was a moment of pride and honor as he clinched the prestigious 2019 CEO of the Year award. This recognition highlights Hackett’s exceptional leadership and dedication to driving positive impact within MLC Life Insurance and the wider community, reaffirming his position as a distinguished figure in the industry.
David Hackett, CEO of MLC Life Insurance, extends a heartfelt encouragement to fellow executives, urging them to embrace the opportunity to participate and “have a go” at winning an award in the upcoming year. Reflecting on his own experience, Hackett emphasizes that the value derived from the process extends beyond mere recognition. He underscores the significance of introspection and self-awareness, noting that engaging in the awards process provides executives with a valuable opportunity to gain clarity on their personal and professional values, accomplishments, and contributions. Hackett advocates for embracing the journey of self-discovery and growth, emphasizing that by throwing one’s hat in the ring, executives may uncover unexpected insights and opportunities for personal and professional development.In the financial year ending on December 31, 2018, MLC Life Insurance demonstrated impressive financial performance, marked by a remarkable 68% improvement in after-tax profit, totaling A$71 million compared to the previous year. This notable increase was primarily attributed to a substantial rise in revenue, amounting to A$21 million, coupled with significant reductions in operating costs, totaling A$54 million. Despite facing heavy regulatory oversight and industry disruption, MLC Life Insurance managed to achieve a notable spike in return on equity, rising from 2.1% to 3.5%. This robust financial performance underscores the company’s resilience and strategic management in navigating challenges while driving growth and profitability.
