FOS warns on communication of risk
26 November 2012
The Financial Ombudsman Service dealt with fewer disputes about investments last financial year, but it says poor communication about risk is an issue for advisers and clients…
Life Insurance
MySuper legislation passes Senate
26 November 2012
The Federal Opposition’s move to amend the MySuper bill in the Senate has failed and the legislation has passed for royal assent…
TAL tops life insurer survey
26 November 2012
TAL has been named CoreData Risk Provider of the Year, with Macquarie Life in second place and Asteron third…
CFPs earn more, survey reveals
26 November 2012
Certified Financial Planners earn 25% more than non-accredited counterparts in Australia, according to research by the Financial Planning Association…
Super funds pay more for insurance sold by related parties
19 November 2012
If a super fund trustee is forced to buy insurance from a related party, fund members end up spending more on insurance, according to an Australian Prudential Regulation Authority study…
TAL half-year profit rises despite lapses and claims
19 November 2012
Life insurer TAL increased profit by 8% to $68 million for the six months to September 30…
Moving super balances aids savers, committee told
19 November 2012
People whose small super balances are transferred to the Australian Taxation Office will be better off despite losing their insurance cover, a Senate economics committee has heard…
Centric Wealth looks to spread out
19 November 2012
Centric Wealth is working to expand its three core offerings beyond Sydney to other state capitals and regional areas of NSW and Queensland…
Ex-TAL underwriting manager joins Swiss Re
19 November 2012
Former TAL executive underwriting manager for group risk Michael Renny is to join Swiss Re as Head of Underwriting…
Garino heads MLC retail insurance
19 November 2012
Elio Garino has been appointed GM Retail Insurance Operations at MLC…
AFA’s Richard Klipin goes to ANZ Wealth
19 November 2012
Association of Financial Advisers CEO Richard Klipin has resigned to join ANZ Wealth as CEO of subsidiary Millennium3…
RGA MD moves to AMP
19 November 2012
RGA Reinsurance MD Pauline Blight-Johnston has resigned to join AMP as Director Wealth Protection and Mature Products…
Victoria sweeps FPA awards
19 November 2012
Victorians have dominated the Financial Planning Association’s Best Practice Awards, winning all the national categories…
FSC’s adviser commission proposals ‘anti-competitive’
12 November 2012
Adviser group Synchron wants an alternative adviser remuneration model driven by competitive forces rather than the model being proposed by the Financial Services Council…
Traps arise when insuring members in SMSFs
12 November 2012
Advisers need to be aware that self-managed super fund members transferring their life insurance policies will breach the “arms-length” transaction rules, a lawyer has warned…
Banks still struggling with wealth management
12 November 2012
The Big Four banks’ wealth management divisions, which include life insurance, saw cash profits remain almost static during their full-year reporting periods…
CBA insurance business grows 3% in Q3
12 November 2012
The Commonwealth Bank says its insurance and wealth management business grew in the three months to September 30 this year…
New CEO for NZ advisers’ association
12 November 2012
The NZ Institute of Financial Advisers has appointed Penny Mudford as its new CEO…
NAB overall insurance contribution sinks
05 November 2012
NAB’s operating income from insurance fell 1.2% to $481 million in the year to September because of increased lapses and unfavourable changes in the profile of the retail insurance book…
Insurance cross-selling boosts Westpac result
05 November 2012
Westpac says its strategy of cross-selling wealth and insurance products is starting to reap rewards, although its BT Financial Group reported a 10% fall in profit to $653 million for the year to…