Snowball calls for reform of life insurance model
25 November 2013
The forthcoming financial system inquiry should address significant structural issues in life insurance, Suncorp Group CEO Patrick Snowball says…
Life Insurance
Life insurers’ profit falls 26%
25 November 2013
The life insurance industry’s aggregate profit fell 26% to $2.24 billion in the year to September 30…
Compliance auditors urged to improve feedback
25 November 2013
Compliance staff should look to improve standards rather than just uncover advisers’ breaches, according to Synchron director Don Trapnell…
ALRC extends submissions deadline for disability review
25 November 2013
The Australian Law Reform Commission has extended until January 20 the deadline for submissions to its inquiry into how federal laws affect disabled people.…
TAL earnings drop as claims rise
18 November 2013
TAL’s net profit after tax fell 57% to $29 million in its first half as disability, income protection and trauma cover claims increased…
APRA turns spotlight on insurance in super
18 November 2013
Insurance will be a key area of focus for the Australian Prudential Regulation Authority next year, according to Member Helen Rowell…
ACORD members adopt life standard
18 November 2013
The Association for Co-operative Operations Research and Development has launched its first data standard for the Australian life industry, with TAL and industry super fund UniSuper adopting it…
Survey reveals knowledge gaps among super members
18 November 2013
More than half of super fund members have at least a “reasonable” understanding of their insurance, a study by the Association of Superannuation Funds of Australia shows…
Asteron promotes move from upfront commissions
18 November 2013
Asteron Life will pay advisers an extra 10% commission in year one for using its e-application process and hybrid payment system…
Economy piles pressure on life market
11 November 2013
Australian life and health insurers face margin pressure from volatile claims and lapse experiences and uncertain new business profitability, according to a report by AM Best…
Ministers to consider FOFA amendments before new year
11 November 2013
The federal cabinet will consider changes to the Future of Financial Advice legislation before the end of the year…
‘Pioneer’ Fabris secures global role with Zurich
11 November 2013
Sydney-based Marc Fabris has been promoted to the new role of Global Head of New Distribution for the Zurich group’s life business…
Banks face fight for returns on life businesses
11 November 2013
The big four banks are well positioned to capitalise on financial advice, but it is questionable whether they can achieve the same returns as in their core operations, according to a report by Ernst & Young…
Younger advisers embrace social media
11 November 2013
More than one-third of financial advisers use social media to connect with clients, according to a new survey…
Westpac delivers strong insurance result
04 November 2013
Westpac says its general insurance income increased by $43 million in the year to September 30, on strong sales from the bank network…
TAL unveils ‘world-first’ data system for group market
04 November 2013
TAL and industry superannuation fund UniSuper have developed an online tool for sharing group insurance data…
Insurance proves ‘challenging’ for NAB Wealth
04 November 2013
NAB Wealth says inforce insurance premium grew 3.7% to $1.6 billion in the year to September 30…
Life business lifts Macquarie results
04 November 2013
Macquarie Life says inforce premiums increased 22% to $171 million in the six months to September 30…
FPA continues fight for enshrinement
04 November 2013
A long-running campaign to enshrine the term “financial planner” in corporations law will continue under the Coalition Government…
FPA launches academic grants
04 November 2013
The Financial Planning Association will offer academic research grants of up to $5000 as it strengthens its ties with universities…