Insurance spending ‘to drop further’
23 June 2014
The underinsurance crisis is set to deepen as household spending plummets under the pressure of a slowing economy and the federal budget, a financial services academic warns…
Life Insurance
Bank says clients ignored FOS
16 June 2014
“Very few” Commonwealth Financial Planning clients turned to the Financial Ombudsman Service to resolve disputes with their financial advisers, according to the bank…
Life remains profitable
16 June 2014
Life insurers made a combined $2.7 billion after-tax profit last year, with $1.5 billion of that from group life, according to latest figures from the Australian Prudential Regulation Authority…
Life premiums inflows gain 13%
16 June 2014
Life insurance premium inflows grew 13.1% to $13.2 billion in the year to March 31, according to Plan For Life…
Mortgage Choice adds to adviser network
16 June 2014
Mortgage Choice has continued to expand its financial planning business, adding a 30th adviser to its network…
FPA makes case for self-regulation
16 June 2014
The Financial Planning Association says 90% of reports of poor advice submitted to its whistleblower service have been successfully resolved…
Ripoll warns on cost of changing FOFA
10 June 2014
Labor financial services spokesman Bernie Ripoll says changing the Future of Financial Advice legislation will drive up compliance costs in the industry…
AFA splits adviser award
10 June 2014
The Association of Financial Advisers has launched new awards to find the best adviser and practice…
Westpac names Holcomb as CRO
10 June 2014
Westpac has appointed Alexandra Holcomb as Chief Risk Officer following the retirement of Greg Targett…
Findex lines up Crowe Horwath purchase
10 June 2014
Wealth management business Findex Australia is to continue its expansion strategy with a bid for financial services provider Crowe Horwath…
Bendigo and AIA join forces on life cover
10 June 2014
AIA Australia has struck a five-year distribution deal to provide life insurance to Bendigo Bank customers…
Bankers deny bid to ‘gut’ FOFA reforms
02 June 2014
The Australian Bankers’ Association has denied trying to undermine the Future of Financial Advice legislation…
Coles to offer life insurance
02 June 2014
Coles has expanded its insurance offering by moving into life insurance, with a product underwritten by MetLife…
BT exec takes reins at MetLife Australia
02 June 2014
MetLife Australia has appointed BT executive Deanne Stewart as its new CEO…
Direct life makes further gains
02 June 2014
Direct life insurance sales grew 8.2% to $558.1 million last year while inforce premiums increased 8.8% to $1.45 billion, according to actuary Rice Warner…
Coalition weighs up unclaimed money regulations
02 June 2014
Treasury plans to review its unclaimed life insurance money regulations after admitting the regulatory costs are a burden on the industry…
Life industry proves a tough nut to crack
26 May 2014
New entrants may find it difficult to overcome regulatory and distribution barriers in the Australian life insurance market, according to an industry report by Standard & Poor’s…
FPA unveils planning wish list
26 May 2014
The Financial Planning Association has drawn up a 10-point plan for improving the quality of financial advice…
FOFA changes ‘will generate more commissions’
26 May 2014
Consumers will pay an extra $1.7 billion in fees over 14 years if opt-in legislation is removed from the Future of Financial Advice regime as proposed, a study shows…
Life industry faces rising costs despite premium growth
26 May 2014
Life insurers’ premiums continued to outstrip policy payments in the year to March 31, according to figures from the Australian Prudential Regulation Authority…