AIA poaches Mercer group life contract from AMP
28 November 2016
AMP has lost the Mercer group life insurance contract to AIA Australia following a competitive market tender…
Life Insurance
NAB cuts entry-level advisers in division overhaul
28 November 2016
NAB Financial Planning has dropped 55 entry-level financial advisers from its dealer group, taking the total to 35…
Investment woe drags on life results
21 November 2016
Life insurers’ gross policy revenue grew to $22.1 billion in the year to September 30 from $20 billion the previous year, according to latest industry figures from the Australian Prudential Regulation Authority…
Direct insurer tops table for customer loyalty
21 November 2016
Almost half of InsuranceLine customers are “extremely likely” to renew their policies with the direct life insurer, according to new research from Roy Morgan…
New group contracts help TAL power ahead
21 November 2016
TAL has reported a 62% rise in ordinary profit to $122 million for the six months to September 30…
Study reveals scale of SME underinsurance
21 November 2016
Almost one in five SME owners believe their insurance would be unable to cover their income for a week after a catastrophic event, industry super fund REST says…
Adviser banned over life policy churn
21 November 2016
A former Sentinel Private Wealth adviser has been banned from the industry for five years for churning…
S&P forecasts flat premium growth
21 November 2016
Australian life insurance premium growth will remain flat next year at less than 10%, according to a report from S&P Global Ratings…
Adelaide adviser banned over fraudulent documents
21 November 2016
An Adelaide-based AMP adviser has been banned for eight years over fraudulent paperwork…
BT Life dominates consumer awards
21 November 2016
BT Life has been named “most recommended company” at the inaugural Association of Financial Advisers and Beddoes Institute Consumer Choice Awards, beating finalists OnePath and TAL…
FPA charity cyclists hit the road
21 November 2016
This year’s Future2 Wheel Classic set off from Perth last week, with 19 cyclists raising funds for the Financial Planning Association’s charity…
FSC rejects ‘flawed’ government-run group life proposal
14 November 2016
The Financial Services Council says superannuation fund trustees should be allowed to select their group life insurance providers rather than be part of a government-run tender process…
AFA wants clarity on clawback obligation
14 November 2016
The Association of Financial Advisers wants the Life Insurance Framework regulations to define who is responsible for clawback provisions…
Banks ‘missing out on cross-selling opportunities’
14 November 2016
Many US consumers do not realise banks sell other services such as financial advice, limiting the institutions’ ability to cross-sell, a new report from research house Cerulli says…
Insurers urged to strike cost-claims balance in group cover
14 November 2016
Group life insurance must balance affordability with its ability to pay claims, according to former Association of Superannuation Funds Australia acting CEO Jim Minto…
Former AFA chief takes over in NZ
14 November 2016
Four years after leaving the Association of Financial Advisers, Richard Klipin has become CEO of another industry association – this time in New Zealand…
MLC signs up five execs for push into group life
14 November 2016
MLC Life Insurance has flagged an increased presence in the group market, making five senior appointments to its team – including three from TAL’s group life operation…
FPA backs life commission regulations
14 November 2016
The Financial Planning Association has welcomed the revised Life Insurance Framework regulations on remuneration…
CommInsure rejects ‘poor behaviour’ accusations
14 November 2016
CommInsure says it has found no evidence of poor behaviour in the business following an independent review commissioned by parent Commonwealth Bank’s board…
Challenger to provide white-label annuities for Suncorp
14 November 2016
Challenger has added to its annuity distribution channels, signing a white-label deal with Suncorp…