06 July 2020
Reforms aimed at lifting standards in the financial advice industry have led to increased compliance cost for advisers, with adverse impact on consumers in the form of higher fees, a parliamentary hearing was told last week...
06 July 2020
The $3 billion sale of AMP’s life insurance business to Resolution Life is complete...
06 July 2020
The Australian Securities and Investments Commission has cancelled the licence of MyPlanner Professional Services, a Queensland-based financial services provider that is in liquidation...
06 July 2020
Funds under management in both the wholesale and retail markets fell sharply in the March quarter, as the virus pandemic soured investor mood, according to data from actuaries and researchers Plan for Life...
06 July 2020
More than half of life insurance claims made by retail customers are now lodged over the phone, Westpac-owned wealth manager BT says...
06 July 2020
The board of ClearView Wealth has appointed Geoff Black as its new chairman and Jennifer Lyon as director...
06 July 2020
Jennifer Mogg has been appointed to the board of The Advisers Association, which was created with a name change after AMP Financial Planners Association merged with Hillross Advisers Association...
29 June 2020
Life insurers have come under fire for not taking their industry code of practice seriously, with the compliance committee reminding the industry that "self-regulation is a privilege, not a right"...
29 June 2020
AMP will complete the $3 billion sale of its life business tomorrow, marking the end of an era for the once dominant player in the Australian and New Zealand income protection sector...
29 June 2020
The financial advice sector will come under scrutiny at a House of Representatives Standing Committee on Economics hearing tomorrow as part of an ongoing review of financial institutions...
29 June 2020
The Australian Financial Complaints Authority has ordered AMP Life to compensate a claimant $5000, the maximum allowed under its rules, for taking “far too long” to assess an income protection claim...
29 June 2020
Melbourne man Anthony Wynd has been permanently banned from providing financial services by the Australian Securities and Investments Commission...
29 June 2020
Munich Re’s insurtech arm has introduced a digital underwriting solution called Allfinanz Spark for life insurers in the Asia Pacific...
29 June 2020
New Zealand has set March 15 next year as the start date for its new financial advice regime that is designed to improve transparency and outcomes for consumers...
29 June 2020
Zurich-owned OnePath Life and the University of Technology Sydney have won global accolades for their work on an artificial intelligence (AI) project that reduces the time it takes to perform standard underwriting processes...
22 June 2020
The life insurance industry made about $348 million in operating profit after tax from superannuation and $187 million from ordinary business for financial years ended in the 12 months to December last year...
22 June 2020
The overall payout for disability income insurance doubled to $4.9 billion in the five years to 2018, fuelled in part by a 53% jump in benefit payment for mental health claims, according to a study by the Financial Services Council and KPMG...
22 June 2020
Challenger plans to raise up to $300 million to strengthen its life business as it looks to weather the ongoing disruption caused by the virus pandemic...
22 June 2020
Financial advisers have welcomed the passage of a Bill last week in Parliament that will give them more time to meet new qualification and examination requirements...
22 June 2020
TAL and comparator iSelect have joined forces to strengthen their life insurance offerings, the two companies have confirmed...