Rise in corporate fraud set to pressure insurance premiums
02 March 2009
KPMG’s eighth biennial Fraud Survey reveals gambling is the most common motive for fraud, at 44% more than double the frequency of the previous 2006 survey...
Life Insurance
It’s anti-scam week!
02 March 2009
Increased risk of scams due to the global financial crisis is being highlighted in National Consumer Fraud Week, which began today...
Asteron and Aviva share Platinum honour
02 March 2009
Life insurers Aviva and Asteron have been announced as the joint overall winners of the Association of Financial Advisers Platinum Life Company of the Year Award for 2008...
Baby boomers shelve retirement plans
02 March 2009
New international research shows almost half of the baby boomer generation (44%) say they will have to postpone their retirement due to the global financial crisis...
Billion-dollar six-month profit for life insurers
23 February 2009
Australian life insurers notched up a $1.058 billion after-tax net profit in the six months to September 30 2008, according to a new report by the Australian Prudential Regulation Authority...
Financial planners shift towards life insurance
23 February 2009
Financial planners are moving into risk advice as investors become nervous about economic conditions, according to a survey by independent research agency Investment Trends...
… and take a beating from Storm
23 February 2009
The Storm Investors Consumer Action Group is deciding whether it will report financial planners who they allege have taken advantage of former Storm clients...
Nerves drive Axa insurance earnings higher in Asia Pacific
23 February 2009
Financial protection earnings in Australia climbed 52% to $104.6 million last year, from $68.6 million in 2007. Australian earnings rose 1% to $235.3 million...
AMP net profit down 41%
23 February 2009
AMP has reported a 41% drop in annual profit to $580 million from $985 million in 2007...
ING wins $270 million QBE super mandate
23 February 2009
ING Australia has won the mandate to manage the $350 million default superannuation fund of QBE Australia...
Tower boosts profit, faces year with optimism
16 February 2009
Life insurer Tower Australia lifted net profit 40.8% to $68.7 million in the year to September 30 last year...
Storm’s downpour continues
16 February 2009
Collapsed investment firm Storm Financial has refuted claims that there was no basis for a $2 million payment to the company’s founder...
FPA slams dissident financial planner…
16 February 2009
The FPA has written to members condemning the financial planner behind a recent advertising campaign that accuses the association of failing to protect clients...
…and cuts jobs
16 February 2009
The FPA is cutting six staff positions as public satisfaction with financial planners plummets and the financial crisis deepens...
Life insurance market set to double in next 15 years
09 February 2009
The Australian life insurance market is set to double in the next 15 years, according to market projections released by actuarial firm Rice Warner Actuaries...
Financial advisers weather Storm
09 February 2009
ASIC has obtained orders from the Supreme Court of Queensland to freeze a $2 million payment from investment firm Storm Financial to a bank account held by its founder...
… while FPA takes ‘offensive’ ad to court
09 February 2009
The FPA has launched a legal challenge to an independent financial services group’s advertising campaign which compares its CEO Jo-Anne Bloch to former US presidents Richard Nixon and Bill Clinton...
Tough times lift IT security threat from within
09 February 2009
Stressed employees are providing a big IT security concern in the financial services industry, according to a new global survey...
MLC slashes 120 jobs
02 February 2009
National Australia Bank’s wealth management arm MLC has cut 120 jobs, with the cuts expected to affect staff throughout the insurance and financial planning company...
Storm investors count their losses
02 February 2009
The Financial Ombudsman Service is likely to become involved in the collapse last month of north Queensland advisory firm Storm Financial...