Early responses praise FOFA draft bill
29 August 2011
Industry associations and insurers have generally welcomed the draft Future of Financial Advice legislation, which was announced this morning by Assistant Treasurer Bill Shorten…
Life Insurance
Commission ban hits all
29 August 2011
There will be no winners if the Federal Government proceeds with its ban on commissions for life insurance sold through superannuation…
Christchurch life claims exceed $NZ1 billion
29 August 2011
Death claim settlements from the Christchurch earthquake have now surpassed the $NZ1.1 billion ($874 million) mark, according to the Accident Compensation Corporation…
Major new role for AIA Australian CEO
29 August 2011
AIA Australia CEO Damian Green has been promoted to a new regional role at the life insurer’s Hong Kong office…
Westpac takes over BT Life
29 August 2011
Westpac is to take over the life insurance business of its funds management arm BT in a move to centralise its operations…
Strong result for ClearView
29 August 2011
ClearView Wealth has reported a 260% jump in its after-tax profit to $8.7 million for the year ending June 30…
Three win Canstar’s top direct life rating
29 August 2011
Allianz, Medibank Private and Real Insurance have jointly been given the top rating in Canstar Cannex’s direct life insurance survey…
Differing views on how to pay for life insurance advice
29 August 2011
Business owners are undecided on how they would like to pay for advice on life insurance, according to a new survey by the MSI Global Alliance of legal and accounting firms…
Bendigo and Adelaide aims to grow insurance sales
22 August 2011
Bendigo and Adelaide Bank is planning to increase both life and general insurance business through its recently created wealth division…
Some advisers still avoid online applications
22 August 2011
Some life insurance advisers are still reluctant to lodge applications online, according to new research from Zurich Life Australia…
First-half life insurance sales up for AMP
22 August 2011
AMP life insurance earnings were up 15% to $84 million for the six months ending June 30 this year, compared to $73 million in the first half of last year…
ANZ optimistic about financial services business
22 August 2011
ANZ’s wealth business continues to perform well as benefits from buying the RBS Asian business continue to be identified, says CEO Mike Smith…
Advice on group life policies threatened by reforms
22 August 2011
The Federal Government’s continuing opposition to commissions being paid on group life insurance will be disastrous for the corporate superannuation industry, a specialist has warned…
Insurance good news at Westpac
22 August 2011
Sales of insurance products have been a positive for Westpac in the June quarter as it warns of further job cuts…
ANZ Wealth CEO resigns suddenly
22 August 2011
In a surprise move, ANZ Wealth CEO John Van Der Wielen has resigned to return to the UK to become MD International of Friends Life…
FPA continues flight against opt-in proposal
15 August 2011
The Financial Planning Association is continuing its campaign against the opt-in proposal in the Future of Financial Advice reforms…
MLC’s insurance business growth ‘moderate’
15 August 2011
MLC’s position in the life insurance market was “stable” during the three months ending on June 30, although the number of claims rose…
Asteron selling FOFA opportunities
15 August 2011
Asteron is running a two-week national roadshow to explain the opportunities for life insurance advisers from the Future of Financial Advice reforms…
Tower reports a good quarter for its new owner
15 August 2011
TAL (formerly Tower Australia) has reported a $21 million underlying profit for the three months ending June 30…
ANZ sets up FOFA transition financing for advisers
15 August 2011
ANZ has put a new loan facility in place to enable financial advisers to expand their practices after the Future of Financial Advice reforms are introduced next year…