AMP rules out Suncorp division acquisition
13 July 2009
AMP is looking for acquisitions, but it probably won’t be bidding for Suncorp’s life insurance and wealth management assets, according to CEO Craig Dunn…
Life Insurance
PI insurance may cover Westpoint losses
13 July 2009
Investors in failed Westpoint developments may recover their losses from professional indemnity insurance after the NSW Supreme Court of Appeal rejected a challenge from QBE Australia…
Planners condemn decision on super fund advice
13 July 2009
They’ve taken a hammering over conflicts of interest and dodgy commission deals, and now financial planners are fighting a rearguard action against a Federal Government decision to allow superannuation trustees…
Wanted: an insurance ombudsman
13 July 2009
The Financial Ombudsman Service is advertising nationally for a new general insurance ombudsman to fill the position left vacant by the sudden resignation of Sam Parrino in April…
Life insurers turn $1.4 billion profit
06 July 2009
Australian life insurers made a $1.421 billion net profit in the year to March 31, according to the latest figures from the Australian Prudential Regulation Authority...
Australians defy global life trend
06 July 2009
With its appetite for life insurance in hard times, Australia is among the standouts in Swiss Re’s review of last year’s world insurance market...
Job losses likely as Australian life sector consolidates
06 July 2009
Moody’s Investors Service has outlined a generally upbeat prognosis for the Australian life insurance industry, but says further consolidation will almost certainly result in job losses...
Advisers chief slams ‘witch hunt’ media
06 July 2009
Association of Financial Advisers President Jim Taggart has attacked media criticism of financial advisers, which he describes as “open season” and a “witch hunt”...
Big hopes for Suncorp Life
29 June 2009
New disclosure, new value and new market position – that’s what Suncorp wants with its wealth management business under the new name Suncorp Life...
Aussie Home Loans joins direct life field
29 June 2009
“Aussie John” Symond, the man who made a fortune swearing to keep mortgage lenders honest before selling a third of his company to a bank, has moved into the direct life insurance market...
UK financial regulator to ban commissions
29 June 2009
The plan by the Financial Planning Association to move members away from commissions to fees is appearing more logical week by week...
Commonwealth Bank insurance part of mooted Fiji sale
29 June 2009
The Commonwealth Bank is considering a non-binding offer by Papua New Guinea’s Bank South Pacific to buy its Fijian banking and insurance businesses...
Industry backs IFSA charter
22 June 2009
Investment and Financial Services Association members have agreed on a charter that revamps payment for financial advice on superannuation...
NZ adviser commissions could go
22 June 2009
NZ is likely to get rid of commissions for financial advice on investment products in line with Australia, according to the country’s Investment Savings and Insurance Association...
CBA deals with Storm involvement
22 June 2009
The Commonwealth Bank of Australia has admitted to its involvement in financial planning group Storm Financial’s collapse and promised to set things right with affected customers...
Life insurer silent over $500,000 fraud case
22 June 2009
The life insurer at the centre of an alleged $500,000 insurance fraud payout remains tight-lipped after another insurer told insuranceNEWS.com.au it had rejected a follow-up claim worth $1.5 million...
Downturn forces insurance rethink
22 June 2009
The economic downturn has prompted a rethink among many Australians about the adequacy of their life insurance cover, according to a report by Axa Asia-Pacific...
War of words continues over fees versus commission
15 June 2009
The war of words between the Financial Planning Association and the Association of Financial Advisers continues following an FPA proposal to move to a fee-based pay structure...
Middle business finance shortage feared
15 June 2009
It isn’t just Australian insurers doing well in comparison with their global counterparts – another report by KPMG says Australian businesses in general are showing confidence...
Storm Financial’s book of clients sold
15 June 2009
Financial planning group Financial Index Australia has bought the remainder of collapsed Queensland advisory firm Storm Financial’s client book...