Challenger surprises with resilient first half
17 February 2020
Shares in Challenger were the top performer on the ASX 200 index after it announced a solid first-half result despite a challenging environment...
Life Insurance
S&P maintains AMP ratings despite large loss
17 February 2020
S&P has maintained AMP’s ratings and expects earnings at AMP Life, which posted a $21 million loss last year, to improve...
AFA opens 2020 grants program
17 February 2020
The Association of Financial Advisers has opened its 2020 Foundation Grants Program...
Actuaries working on reform for ailing disability income sector
10 February 2020
The Actuaries Institute expects to outline by September a range of critical reform proposals to save the loss-making $5 billion disability income insurance market...
AMP admits ‘letting customers down’ after $5 million fine
10 February 2020
AMP has apologised for “clearly unacceptable” conduct after the Federal Court last week fined it more than $5 million for insurance “rewriting”...
Lawyer warns of insurance trap for Australians tapping super early
10 February 2020
Drawing from superannuation balances early may wipe out insurance available via super funds, Australians are being warned...
Queensland adviser cops seven-year ban
10 February 2020
A Queensland-based financial adviser has been handed a seven-year ban for providing advice that put his commissions ahead of his clients’ best interests...
Synchron appoints new GM
10 February 2020
Synchron has appointed former CommInsure senior executive Ian Knight as GM Operations...
TAL reveals 2020 Risk Academy line-up
10 February 2020
Life insurer TAL has released the 2020 prospectus for its TAL Risk Academy adviser education program...
Gilling to head Pacific Life Re’s Client Solutions
10 February 2020
Pacific Life Re Australia has announced Martyn Gilling will head its Client Solutions, responsible for market strategy and sales and developing solutions for clients...
APRA ready to take more action on ‘unsustainable’ DII covers
03 February 2020
Life insurers could be hit with more penalties if they fail to “take the necessary actions” to improve the pricing and sustainability of individual disability income insurance products...
Colonial faces class action over insurance charges
03 February 2020
A class action has been filed over the cost of insurance selected for members of Colonial First State Investments Limited, the wealth management subsidiary of Commonwealth Bank of Australia...
ClearView drops agreed value income protection
03 February 2020
ClearView will stop selling agreed value income protection from next month and is repricing its products and reviewing claim assumptions after new business premiums dropped by more than a third in the six months to December 31...
MLC CEO David Hackett departs
03 February 2020
MLC Life Insurance says it is embarking on a global search for a new CEO after David Hackett resigned...
NSW adviser hit with four-year ban
03 February 2020
NSW-based financial adviser David O’Brien has been banned for four years over his alleged failure to act in his clients’ best interests...
ASIC takes TAL to court, claiming misconduct
03 February 2020
TAL faces possibly heavy financial penalties of up to $1.7 million over alleged misconduct involving its handling of an income protection claim...
MetLife hires Tse to help deal with regulatory challenges
03 February 2020
MetLife Australia has hired KPMG director Wendy Tse as its Chief of Staff and External Affairs, saying it anticipates more regulatory challenges will be faced by its clients this year...
AFA’s national roadshow gets ready to roll
03 February 2020
The Association of Financial Advisers will kick off its 2020 National Roadshow this month, starting at Wrest Point Hobart on February 19 and ending in Brisbane eight days later...
Advisers urged to trim costs as commissions fall
16 December 2019
Advisers must cut their expenses by 20% to 25% to stay financially viable when upfront commissions are further cut to 60% next year, an MLC Life-commissioned white paper says...
Lump sum sales decline
16 December 2019
Individual risk lump sum new business sales dropped 16.4% to $1.02 billion in the year to September, according to research house Dexx&r...