FSC ‘wrong’ to blame churning on advisers
19 September 2011
The head of a specialist life insurance dealer group has attacked the Financial Services Council’s “churning” initiative…
Life Insurance
Macquarie Life streamlines medical assessments
19 September 2011
Macquarie Life has joined forces with medical evidence provider UHG to streamline the medical assessment process…
Testing times for corporate life advisers
19 September 2011
Group life insurance sold through corporate superannuation funds may end up being treated as a retail product as a result of the Future of Financial Advice reforms…
New head of wealth at CommBank
19 September 2011
Commonwealth Bank has appointed Annabel Spring as the new head of its wealth division, which includes CommInsure…
Life insurers struggle with revenue as profits drop
12 September 2011
Australian life insurers have seen both revenue and profits fall during the 2010/11 financial year, according to the latest figures from the Australian Prudential Regulation Authority…
AFA questions FOFA independence
12 September 2011
The Association of Financial Advisers has again questioned the independence of the Future of Financial Advice legislation being proposed by the Federal Government…
Life insurers ‘not reading longevity risks properly’
12 September 2011
Increasing longevity rates will cause problems for life insurers in the future, a Swiss Re report warns…
Scaled advice submissions delayed
12 September 2011
Industry bodies and insurers have been given a two-week extension for their submissions to the Australian Securities and Investments Commission’s consultative paper on scaled advice…
Plan B gets new CEO
12 September 2011
Dealer group Plan B has appointed the former head of Skandia Australia, Andrew Black, as its new CEO…
Concerns remain about FOFA proposals
05 September 2011
The modification of the opt-in proposal and allowing commissions on retail life insurance has been welcomed in some quarters. But the critics of Assistant Treasurer Bill Shorten’s Future of Financial…
FPA starts selling members’ skills
05 September 2011
The Financial Planning Association has launched its national advertising campaign promoting its members…
Group life continues to grow
05 September 2011
The group life insurance industry is expected to grow strongly in the next 15 years, according to a new report by Rice Warner…
OnePath helps advisers with FOFA
05 September 2011
ANZ-owned OnePath has already responded to the proposals in the draft Future of Financial Advice bill by launching an adviser support package…
Commonwealth starts dealer group consolidation
05 September 2011
Commonwealth Bank’s surprise takeover offer for dealer group Count Financial is being seen as the first of many such deals as the industry consolidates with the looming government reforms…
ClearView signs up with CFS
05 September 2011
ClearView has signed a private label agreement with Colonial First State Custom Solutions to create a wealth management platform with full wrap capabilities…
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…
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…