Commission ban a boon for financial planners
03 May 2010
A ban on commissions paid to financial planners will reduce client costs and make advice more accessible to the public, according to an actuarial report…
Life Insurance
Ombudsman wants compensation terms widened
03 May 2010
Investments, Life Insurance and Superannuation Ombudsman Alison Maynard has welcomed a Federal Government decision to examine the feasibility of a statutory compensation scheme…
Commission ban ‘likely to disadvantage new planners’
03 May 2010
A 2009 survey of financial planning remuneration trends shows that new planners are more likely to be disadvantaged by a ban on commission-based fee structures…
Tower reports premium growth
03 May 2010
Tower Australia’s appointment to the AustralianSuper fund from November 1 has proved a boon for the life insurer, with total risk inforce premium up 33% on the previous opening quarter…
Planning bodies welcome financial reforms
27 April 2010
Financial advisory groups have generally welcomed the reforms announced yesterday by Financial Services Minister Chris Bowen…
NZ group phases out commissions
27 April 2010
NZ financial institutions plan to voluntarily phase out commissions on investment products, including volume-based performance bonuses or commissions and ongoing renewal commissions…
AMP gains ground in bid for Axa APH
27 April 2010
AMP has emerged as the likely frontrunner to acquire Axa Asia Pacific Holdings after the competition regulator’s decision to oppose a rival bid from National Australia Bank…
Study shows awareness key to solving underinsurance
19 April 2010
Research by online life insurance broker Lifebroker has shown that ignorance, not indifference, is the key contributor to life and income protection underinsurance…
Second firm axes insurance commissions
19 April 2010
Wealth management firm Hewison and Associates has become the second firm in a week to announce it will no longer earn commissions on risk insurance…
Life-linked investments catching on: Mercer
19 April 2010
Mercer has outlined growing local demand for life settlements as part of the wider investment class of insurance-linked strategies…
NAB cements deal to acquire Axa’s Australian assets
12 April 2010
A tug of war between two financial powerhouses over the Australian and New Zealand assets of Axa Asia Pacific Holdings is over, with National Australia Bank’s…
Planner includes insurance in fee-for-service model
12 April 2010
National Australia Bank financial planning subsidiary Godfrey Pembroke has announced a new fee-for-service policy that includes advice given to new clients about risk insurance…
Super fund cranks up default life cover
12 April 2010
Superannuation provider Perpetual has tackled underinsurance in life insurance head-on by ramping up default levels of cover, in some cases by more than 10 times the original amount…
APRA: life insurance revived in 2009
29 March 2010
Improving financial markets have provided a much-needed shot in the arm for life insurers, helping the sector record strong growth in full-year profitability…
FPA welcomes more members
29 March 2010
The Financial Planning Association (FPA) says membership numbers are on the rise after stagnant activity last financial year…
Insurance key to Australia’s economic success
29 March 2010
Federal Assistant Treasurer Senator Nick Sherry says the local insurance industry has a role to play in promoting Australia as a regional financial hub…
MMC buys Bupa’s life and wealth portfolios
29 March 2010
Financial services company MMC Contrarian has paid $195 million to acquire the life insurance and wealth management units of health insurer Bupa Australia…
FPA drops insurance from commissions ban
22 March 2010
The Financial Planning Association has placed risk insurance outside of its new fee-for-service model to avoid disadvantaging consumers…
Regulator starts talking dollars on Storm
22 March 2010
It’s time to start talking about a commercial resolution to the Storm Financial collapse, says the Australian Securities and Investments Commission…
NAB extends its Axa APH takeover bid timing
22 March 2010
National Australia Bank has agreed to extend the terms of its proposal to acquire Axa Asia Pacific Holdings until next Monday…