ASVW Financial Services hires executive director
30 August 2021
Adviser group ASVW Financial Services has appointed Joe Botte as Executive Director...
Life Insurance
FPA appoints education council chairman
30 August 2021
The Financial Planning Association (FPA) has appointed Marc Olynyk as Financial Planning Education Council (FPEC) Chairman, replacing Sharon Taylor who stepped down this month...
Advice licensee award winners named
30 August 2021
Market research consultancy CoreData has announced the winners of this year’s advice licensee awards...
MLC Life gives extra support via CancerAid program, app
30 August 2021
MLC Life customers with a cancer diagnosis will now have access to an award-winning course guiding them through cancer treatment under a new partnership with CancerAid...
FSC consults on life code draft
23 August 2021
The Financial Services Council (FSC) has released for consultation its second draft of proposed updates for the Life Insurance Code of Practice, which first came into effect on June 30 2016...
AMP did not mislead over 104% 'level' premium hike: AFCA
23 August 2021
AMP Life has prevailed in a complaint lodged by an income protection (IP) customer, who believed he was misled when he was informed his premiums would increase by more than 100% in January this year...
Dexx&r gives 10-year risk market forecasts
23 August 2021
Research house Dexx&r has released its 10-year projections for individual and group risk markets to December 2030...
AIA Australia parent posts first-half earnings rise
23 August 2021
Hong Kong-listed AIA Group, the parent company of AIA Australia, has recorded a rise in first-half operating profit after tax to $US3.2 billion ($4.4 billion) from $US2.9 billion ($4 billion) a year earlier...
AIA, OnePath back AFA charity arm
23 August 2021
The Association of Financial Advisers (AFA) says its charity arm, AFA Foundation, has secured partnerships with AIA Australia and Zurich-owned OnePath Life....
TAL's owner cements pole position with Westpac deal
16 August 2021
The $900 million acquisition of Westpac’s life insurance arm will strengthen Japan’s Dai-ichi Life Holdings position as the largest life insurer in Australia, according to Fitch Ratings...
Financial planners oppose compensation scheme's design
16 August 2021
The Financial Planning Association and seven other peak bodies have issued a joint statement opposing the proposed design of the compensation scheme of last resort...
Court approves Westpac life insurance class action settlement
16 August 2021
Plaintiff law firm Shine Lawyers says it has received Federal Court approval to settle the life insurance class action it filed against Westpac in October 2017...
Challenger marks record life sales as CEO gets set to go
16 August 2021
Challenger posted a 29% rise in assets under management to a record $110 billion in the year to June 30, driven by strong contributions from its life and fund management arms, the investment group reported last week...
FSC consults on occupational exclusions removal
16 August 2021
The Financial Services Council has started a consultation exercise to work towards the removal of occupational exclusions in default group life insurance policies...
TAL agrees to acquire Westpac life arm for $900 million
09 August 2021
TAL Dai-ichi Life Australia has agreed to acquire Westpac’s Australian life insurance arm in a deal worth at least $900 million, the two businesses announced today...
APRA stress tests find industry able to cope with severe downturn
09 August 2021
The prudential regulator says its stress tests last year of the 21 largest life insurers indicate they are well-positioned to withstand a very severe economic downturn...
Advisers banned over corporate breaches
09 August 2021
Gold Coast-based advisers Trent Allan and Fabrizio Urrutia have each copped a five-year ban for breaching financial services laws, the Australian Securities and Investments Commission announced...
Advice misconduct compensation tops $1.8 billion: ASIC update
09 August 2021
About $1.86 billion in compensation has been paid or offered by six financial services providers to customers who suffered loss from non-complaint advice or were charged for services they never received, the Australian Securities and Investments Commission says...
AMP-linked advisers join push for ASIC levy change
09 August 2021
The Advisers Association, a non-profit group that advocates on behalf of AMP Financial Planning, has again pushed for changes to the funding levy model used by the corporate regulator to support its supervision work...
Treasury releases policy paper on disciplinary body regulations
09 August 2021
Treasury has released for consultation a policy paper for the government’s planned single disciplinary body for financial advisers, after the House of Representatives last week passed the Better Advice Bill for the proposed scheme...