22 March 2021
Advice group Synchron has called on life insurers to provide “clarity” over how in-force policies will be handled when unfair contract terms (UCT) laws apply to insurance contracts from April 5...
22 March 2021
TAL has been named the Association of Financial Advisers’ life company of the year for the fourth time in a row, beating AIA Australia, MLC Life Insurance and NEOS...
22 March 2021
ClearView Wealth has advanced its efforts to modernise systems with the selection of Oracle Insurance Policy Administration, which it says will improve efficiency, meet new regulatory requirements, reduce costs and improve the employee and customer experience...
15 March 2021
The prudential regulator has issued a warning letter to life insurers and superannuation funds, expressing alarm over a “re-emergence of some concerning developments” in group life insurance that could potentially affect the sustainability of the product and lead to other adverse outcomes...
15 March 2021
The Federal Court has ruled TAL Life “breached its duty to act with utmost good faith” in the handling of an income protection claim in 2014, in civil proceedings lodged by the corporate regulator...
15 March 2021
New laws governing the New Zealand financial advice sector take effect today, nearly five years after the reforms were first mooted, which started with a review of the Financial Advisers Act 2008...
15 March 2021
Hong Kong-listed AIA Group, the parent company of AIA Australia, has the capital strengths and resilient operating performance to help the business absorb continued progressive dividends, S&P Global Ratings said today in a bulletin note...
15 March 2021
MetLife Australia has appointed Nathan Rees as Head of External Affairs & Public Policy to work with government and regulators and review proposed legislative change for the life insurance industry in Australia...
15 March 2021
Challenger has promoted Angela Murphy to the role of CEO Life as the business searches for a CIO to lead its investment teams...
08 March 2021
The financial advice industry has expressed anger over the corporate regulator’s plan to collect more levies from them to fund its supervision of the sector...
08 March 2021
The life insurance industry narrowed its net loss to $100 million last year from $300 million in 2019, according to the latest update from Australian Prudential Regulation Authority...
08 March 2021
The corporate regulator has filed civil penalty proceedings against Statewide Superannuation, alleging it engaged in “misleading or deceptive correspondence” when 12,500 members were contacted about group insurance they supposedly held through the financial services provider...
08 March 2021
MLC Life Insurance has appointed Michael Downey as GM Retail Distribution Partnerships, replacing Russell Hannah who is leaving on March 26...
08 March 2021
The Federal Court has ordered Dover Financial Advisers and its founder Terry McMaster to pay penalties of $1.2 million and $240,000 respectively for engaging in false or misleading actions, compromising clients’ interest in the process...
08 March 2021
AIA Australia has launched a health support service in collaboration with Mindstar, a wellbeing solutions company...
01 March 2021
The Advisers Association says today it is “potentially misleading” to label financial product information as “advice” when it is not...
01 March 2021
Legislation aimed at protecting Australians from hidden advice fees and unexpected expenses passed in Parliament last week...
01 March 2021
The Australian Financial Complaints Authority has ruled financial firm Your Super Life gave “inappropriate” advice when it recommended a client should set up a self-managed superannuation fund which would also look after his personal insurance needs...
01 March 2021
ClearView Wealth has posted higher first-half earnings, driven partly by stronger results from its life business...
01 March 2021
Count Financial has posted a 74% rise in first-half earnings, a sign that the advisory practice is on the right growth path, according to CountPlus, which bought the business from Commonwealth Bank in 2019...