Axa swaps annuities for Challenger advisers
10 June 2008
Axa Asia Pacific Holdings has swapped its $1.3 billion annuity portfolio for Challenger Financial Services’ planning business in a deal costing Axa a net $100 million...
Life Insurance
Solid half year for Tower Australia
02 June 2008
Tower Australia has booked an 81% increase in half-year net profit to $30.9 million, which it attributes to a growing life insurance market expected to treble by 2017...
… as Tower NZ fights partial takeover
02 June 2008
Tower Limited has advised shareholders not to accept a partial takeover offer from investment company Guinness Peat Group because the price is too low...
Departments seek simpler super advice
02 June 2008
The Federal Government’s Financial Services Working Group has released a consultation paper outlining key steps to cut the red tape on disclosure documents...
FPA checks planners’ methods
02 June 2008
The Financial Planning Association is investigating margin loan sales practices...
Tower NZ in good health
26 May 2008
Tower Limited has posted a half-year net profit of $NZ19.9 million ($16.3 million) with a bold showing across its insurance portfolio...
Sherry warns industry on super advice, documentation
26 May 2008
The financial services industry needs to remove barriers to the provision of superannuation advice, says Superannuation Minister Nick Sherry...
PI deadline not an issue for FPA members
19 May 2008
The July 1 deadline for all financial services licensees to have “adequate” professional indemnity insurance isn’t worrying the Financial Planning Association...
AMP tightens belt
19 May 2008
AMP has announced it will put capital management plans on hold and may cut future dividend payments as uncertain markets bite into company income...
SMEs get free super assistance
19 May 2008
The Government’s new superannuation clearing house will be free for small-to-medium business enterprises...
Financial advice industry faces 'crisis of confidence'
19 May 2008
Nearly 80% of Australians believe commission payments to financial advisers compromise the integrity of their advice, according to a new national survey...
Consumers: spare us from red tape
12 May 2008
Keep it short and to the point. That’s the message from consumers following research by the Investment and Financial Services Association into product disclosure statements...
Axa Asia Pacific results buck flat trend
12 May 2008
Axa’s first-quarter results have revealed growth in its Asia Pacific business despite generally flat results elsewhere...
Promina manager retires from Suncorp
12 May 2008
Another Promina manager has left Suncorp, with Dennis Fox announcing his retirement as Group Executive Wealth Management...
Finsia appoints Westpac risk boss as President
05 May 2008
Westpac Group Head of Operational Risk and Compliance Chris van Aanholt has been elected President of the Financial Services Institute of Australasia...
Planners battle direct players on underinsurance
05 May 2008
Financial planners are better placed to address underinsurance than direct life insurers, according to the Financial Planning Association...
AMP posts 83% cashflow decline
05 May 2008
AMP Financial Services has endured a torrid first quarter, with the company’s total net cashflow down 83% to $129 million...
Tough year ahead for Axa as group funds shed 10%
28 April 2008
Axa Asia Pacific’s first-quarter new business and fund-flow figures reflect a difficult trading period caused by volatile investment markets...
Association of Financial Advisers opens its doors
28 April 2008
The Association of Financial Advisers has increased membership 28% this year as the organisation once populated by life insurance agents opens its doors to a new generation…
Axa expects healthy profit despite volatile market
21 April 2008
Axa Asia Pacific is confident of a strong performance this year despite falls in equity markets making “life more challenging”...