Mitsui Sumitomo parent buys $500 million Challenger stake
21 August 2017
Japan’s MS&AD Insurance Group has acquired a 6.3% stake in annuity company Challenger, through a $500 million equity placement…
Life Insurance
ASIC bans ex-Millennium3 adviser
21 August 2017
Queensland adviser Travis McLean has been banned from providing financial services for five years by the Australian Securities and Investments Commission…
FPA names speakers for Hobart conference
21 August 2017
The Financial Planning Association has invited a trio of globally renowned “thought leaders” to speak at its Professionals Congress in Hobart…
AIA trials cancer claims service
21 August 2017
AIA is piloting a “door-to-door” claims service for Victorian cancer patients, to help them navigate the process and link them to other support services…
FPA backs FASEA appointment
21 August 2017
The Financial Planning Association has applauded the appointment of Deen Sanders as CEO of the new Financial Adviser Standards and Ethics Authority…
IP claims dent CommInsure income
14 August 2017
CommInsure says income declined 12.7% to $438 million in the year to June 30 as income protection claims grew to $143 million from $78 million the previous year…
CommInsure for sale as CBA joins life divestment rush
14 August 2017
Commonwealth Bank is the latest financial institution to put its life insurance business up for sale…
AMP signs new reinsurance deals as profits dive
14 August 2017
AMP Life has reported a 45% slump in profits from its insurance business in the six months to June 30…
FPA joins criticism of ASIC draft SOA
14 August 2017
Opposition to the Australian Securities and Investments Commission’s new statement of advice model continues to grow…
OnePath to pay another $10 million in compensation
14 August 2017
OnePath will pay an additional $10.5 million in compensation to 160,000 superannuation customers affected by breaches between 2013 and last year…
Rethink premiums to keep group life in super, says actuary
14 August 2017
Rice Warner says life insurance should remain an integral part of the superannuation system, despite calls from various quarters for its removal…
AIA raises new business stepped premiums
14 August 2017
AIA Australia is to increase new business stepped premium rates in its Priority Protection and Priority Protection for Platform Investors products…
FPA to open Financial Planning Week with new research
14 August 2017
The Financial Planning Association will focus on the theme “live the dream” for its 17th annual Financial Planning Week, from August 21-27…
Asteron profit dives as parent weighs options
07 August 2017
Suncorp’s Asteron life insurance business has reported a 50% slump in after-tax profit to $34 million for the year to June 30…
Life reinsurance premium tipped to rise
07 August 2017
Global life reinsurance premiums are expected to rise by about 3% a year until 2019, according to a new report from S&P Global…
Tributes paid to former AFA board member
07 August 2017
Life insurance industry stalwart Gerry Porter died late last month…
AFA flags concerns on draft SOA
07 August 2017
The Association of Financial Advisers says a statement of advice is not the primary means of delivering advice on life insurance…
Group cover, SCT remit ‘confuses fund members’
07 August 2017
Fund members are confused about the role of the Superannuation Complaints Tribunal (SCT) when handling disputes about group life insurance premiums…
Greenstone exec steps into CEO role
07 August 2017
Greenstone has promoted COO Brenard Grobler to CEO…
PPS matches benefits to high wage growth
07 August 2017
PPS Mutual has indexed its professionals’ policy benefits against a realistic, proprietary measure of their earnings growth…