Ripoll Inquiry findings in lockdown
23 November 2009
A firm “no comment” is coming from the office of Federal MP Bernie Ripoll in advance of tonight’s release of findings from the parliamentary joint committee inquiry…
Life Insurance
Axa move on subsidiary spurs downgrade
16 November 2009
Standard & Poor’s has lowered its ratings on Axa’s Asia Pacific Holdings’ Australian and New Zealand business units from AA to A+ following majority shareholder Axa SA’s…
Planners’ association figures reflect tough times
16 November 2009
The Financial Planning Association’s accounts for the past financial year reflect a challenging period for the people it represents…
AMP enters strategic deal with China Life
16 November 2009
AMP has entered into an agreement with China Life Insurance to expand into the Asian asset and pension management market…
Criticism leads to NZ adviser committee resignations
16 November 2009
An independent consumer organisation’s scathing assessment of financial advice has led to the exit of two members from the industry committee working on New Zealand’s code of…
Professional indemnity wrangle over Storm Financial
16 November 2009
Insurers are resisting professional indemnity insurance claims related to collapsed advisory firm Storm Financial…
Axa Asia-Pacific rejects bid from its parent and AMP
09 November 2009
Axa Asia Pacific Holdings has rejected an $11 billion takeover proposal from its Paris-based parent company and rival financial services giant AMP…
Macquarie’s funding operation on solid footing
09 November 2009
Growing life and premium funding opportunities have contributed to an 83% increase in Macquarie Banking and Financial Services Group half-year profit to $137 million…
Green takes top job at AIA Australia
09 November 2009
Newly appointed AIA Australia CEO Damien Green is looking forward to the challenge of leading one of the country’s largest insurers in life risk…
Westpac insurance units kick on
09 November 2009
Westpac Banking Corporation insurance units have delivered a 20% increase in annual cash earnings of $191 million as premium growth offsets higher general insurance claims…
IFSA board takes on two new directors
02 November 2009
The Investment and Financial Services Association board has received a slight shake-up following its AGM last week, with ING Australia CEO Harry Stout and Mercer Australia CEO…
Super deal to revive group premiums at Tower
02 November 2009
Tower Australia expects its new group risk account with AustralianSuper, which kicked off yesterday, will offset the departure of Asgard and ANZ mastertrusts early this year…
MLC banks on Aviva acquisition
02 November 2009
Wealth management and life insurance provider MLC expects good returns from the buyout of Aviva Australia after net operating income fell 15% in the year to September…
FPA board approves fee-based pay
26 October 2009
Financial Planning Association members will stop receiving commissions from July 2012…
Diversity the key for Axa
26 October 2009
Axa Asia Pacific is counting on diversified products and a wide geographic spread to counter an ongoing slump in investor confidence…
GFC fallout far from over says KPMG expert
26 October 2009
KPMG Financial Services Chairman Andries Terblanche has warned financial services professionals that fallout from the global financial crisis is far from over…
Industry relief on disability super benefits
19 October 2009
The Federal Government has amended a tax law to allow for the deduction of insurance premiums for disability superannuation benefits…
Planners take their message to MPs
19 October 2009
The Financial Planning Association is targeting federal parliamentarians in a campaign to explain their role…
Tower to roll out new life platform
19 October 2009
Tower Australia has announced it will roll out its new life insurance platform Accelerated Protection from November 1…
No PI relief in sight for financial planners
12 October 2009
The professional indemnity insurance squeeze for financial planners shows no signs of abating, as combined factors continue to make underwriters wary of the risks…