FPA turns a profit
29 October 2012
The Financial Planning Association turned a profit of $149,761 in 2011/12, despite not expecting to do so for three more years…
Life Insurance
AMP premium income continues to grow
29 October 2012
AMP’s life insurance business is growing, with third-quarter cashflow figures showing annual premium income of $2 billion, up 6% on the previous corresponding period…
Insurance weak for ANZ
29 October 2012
ANZ’s net income from insurance fell 1% to $429 million in the year to September, while the bank’s overall profit grew 6% to $5.7 billion compared with the previous year…
New ClearView board takes shape
29 October 2012
ClearView Wealth has a new board following its 80% takeover by private equity group Crescent Capital…
PIS shakes up structure
29 October 2012
Financial and risk adviser Professional Investment Services has restructured its operations to create three distinct function areas: client engagement, client recruitment, and client strategy and solutions…
Competition drives down life costs
22 October 2012
Life insurance costs are falling sharply amid competition driven by the advisory market and falling mortality rates, a study by ClearView Wealth and Plan For Life shows…
Life insurance last in the queue for Australians
22 October 2012
Australians do not consider life insurance a priority and severely underestimate the cost of being off work with illness or injury, according to research by Commonwealth Bank’s insurance arm CommInsure…
Payouts, non-disclosure dominate FOS life insurance disputes
22 October 2012
Most complaints about life insurance relate to claim payments or failure to disclose prior medical history, the Financial Ombudsman Service says…
Aussies drag down RGA results
22 October 2012
Higher claims in Australia have led the Asia-Pacific division at Reinsurance Group of America to report a $US16.5 million ($16 million) pre-tax loss in the three months to September 30…
Legislation extends TPD complaints time
22 October 2012
The time limit for lodging total and permanent disability claims with the Superannuation Complaints Tribunal has been extended to six years under the latest tranche of Stronger Super legislation…
Health providers form joint venture
22 October 2012
Three health services support companies have joined forces to provide medical risk management for the life and general insurance industries…
Hood Sweeney keeps AFSL despite Countplus stake
22 October 2012
Commonwealth Bank-owned Countplus has taken a 25% stake in SA accounting firm Hood Sweeney, which will maintain its own financial services licence and continue to operate independently…
Many New Zealanders neglect life insurance: report
22 October 2012
New Zealanders are more interested in protecting cars and homes than their lives, according to NZ Financial Services Council Chairman Jenny Shipley…
Challenger records flat annuity sales
22 October 2012
Challenger Life made $558 million of annuity sales in the three months to September 30 – the same figure recorded in the previous corresponding period…
BOQ life insurance sales hold steady
22 October 2012
The Bank of Queensland’s life insurance premiums remained flat in the 12 months to August 31, reaching $40.9 million compared with $40.3 million in the previous year…
TAL and NRMA Insurance team up on life cover
15 October 2012
NRMA Insurance is moving into the life market in a tie-up with TAL…
Mortgage Choice to launch life sales
15 October 2012
Mortgage Choice will sell life insurance as part of its move into financial planning advice…
Ads raise consumer trust in FPA
15 October 2012
The Financial Planning Association says its consumer advertising campaign has increased awareness and improved the public’s perception of members…
APRA issues guide on MySuper transition plans
15 October 2012
Super funds will have to provide the Australian Prudential Regulation Authority with copies of their MySuper transition plans, under the terms of a new draft practice guide…
Life market keeps growing
15 October 2012
Life insurance premiums increased 11.9% in the 12 months to June 30, according to figures from Plan For Life…