Prudential’s ambitions unclear in Australasia
24 May 2010
Global financial services giant Prudential has unveiled a record £14.5 billion ($25.05 billion) rights issue to fund its takeover of AIG’s Asian life assets, but the future of the division’s…
Life Insurance
Smaller financial firms turn to insurance
24 May 2010
Boutique financial firms are adding risk products to their portfolios as the downturn forces planners to sow new revenue streams…
Macquarie improves life offering
24 May 2010
Macquarie Life hopes to revolutionise the Australian insurance industry with its new policy combining life, trauma and total permanent disability cover, as well as a range of additional benefits…
Aon seals life deal with mortgage broker
24 May 2010
Aon Financial Planning and Protection has signed a deal with mortgage broker Smartline to improve life risk advice for mortgage customers…
Budget boost for financial services
17 May 2010
The financial services sector has welcomed federal budget measures to improve the nation’s savings culture and advance Australia’s standing as a global investment hub…
Financial hub ambitions given Budget boost
17 May 2010
The Federal Government intends to set up a financial sector taskforce and dedicated research body as part of plans to promote Australia as a regional financial services hub…
Prudential cleared for AIG-linked rights issue
17 May 2010
Prudential has secured a last-minute deal with the UK regulator to salvage its takeover of AIG’s Asian life insurance unit…
Some advisers a ‘leech’ on consumers: actuary
17 May 2010
The Federal Government ban on advisory commissions from 2012 will prevent financial advisers being a “leech” on their clients, an actuaries’ conference heard last week…
FPA’s new chief holds the line on commissions
10 May 2010
New Financial Planning Association CEO Mark Rantall says it’s too early to consider applying the fee-for-service model to risk insurance…
AMP sits tight over Axa buyout
10 May 2010
AMP says its $13 billion bid for Axa Asia-Pacific Holdings is “far from complete”, while rival suitor National Australia Bank may challenge the competition regulator’s move to take it out…
UK regulator delays Prudential/AIA merger
10 May 2010
British insurer Prudential’s ambitious $US35.5 billion ($39.4 billion) play for AIG’s Asian life insurance unit has struck a snag after the UK Financial Services Authority blocked its…
AMP wants life offering growth
10 May 2010
Financial services provider AMP has revamped its suite of life and income protection products in a bid to assist advisers to grow their risk portfolio…
MacBank updates life offerings
10 May 2010
Macquarie Life’s product offerings have received an overhaul, which the insurer says will provide more flexibility and greater coverage…
Financial services sector backs Henry super reforms
03 May 2010
Financial services and business groups have responded favourably to the Federal Government’s tax reform agenda, singling out an increase in superannuation contributions…
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…
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…