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…
Life Insurance
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…
Life companies urged to pick their targets in Asia
26 May 2014
Asia still holds opportunities for Australian life companies but they must be selective about target markets, according to Towers Watson…
Kearns leaves Centric team
26 May 2014
Centric Wealth CEO Phil Kearns is to leave the financial advice group on June 30, following its takeover by Findex Australia in February…
SFG welcomes IOOF takeover offer
19 May 2014
IOOF has launched a $670 million takeover bid for financial advisory and insurance group SFG Australia…
Adviser M&A activity grinds to a halt
19 May 2014
Uncertainty over the Future of Financial Advice grandfathering rules is making financial advisers look at organic growth rather than merging with or acquiring practices…
TAL reports strong 12-month inflows as claims rise
19 May 2014
TAL has increased its premium income by 24% to $2.3 billion, but this has been tempered by a 38% rise in claims to $885 million for the 12 months ending March 31…
ASIC’s funding cut worries adviser groups
19 May 2014
Both associations representing financial advisers have expressed concerns about the Federal Government’s move to cut funding to the Australian Securities and Investments Commission…
BT offers key person protection
19 May 2014
BT Financial Group has launched an income protection product for small businesses…
Life insurers need to look further than one reinsurer
19 May 2014
Asia-Pacific life insurers should be looking to broaden their access to the reinsurance market to expand their expertise, according to Willis Re Head of Life Reinsurance Nigel Sedgwick…
Zurich becomes a casualty of the group life business
12 May 2014
Zurich Financial Services is to pull out of the Australian group life insurance market…
Victoria ditches stamp duty life cover
12 May 2014
Victoria has become the first state to abolish stamp duty on life insurance contracts…
AMP warns there are no quick fixes
12 May 2014
AMP’s first-quarter insurance claims and policy lapses are in line with company expectations but shareholders have been warned there is no “quick fix” for the wealth management business…