AMP on credit watch amid life divorce
04 March 2019
AMP and its subsidiaries have been placed on a “negative credit watch” by S&P Global Ratings as the group separates from its life insurance businesses…
Life Insurance
Freedom holds talks as future remains uncertain
04 March 2019
Freedom Insurance has confirmed it is holding confidential discussions with key stakeholders about its financial position…
APRA consults on threat from offshore reinsurers
04 March 2019
The Australian Prudential Regulation Authority has asked life insurers for input on a review of capital adequacy standards for overseas players…
BT upgrades quoting software
04 March 2019
BT has upgraded its life insurance quote and application software, to make it easier for advisers to obtain cover…
Pacific Life Re’s local MD takes on Asia role
04 March 2019
Pacific Life Re has appointed Andrew Gill as MD of its Australian and Asian businesses…
Grandfathering ban moves a step nearer
25 February 2019
The Federal Government has introduced draft legislation to ban grandfathered commissions paid to financial advisers from January 2021…
Coalition presses on with under-25s opt-in bill
25 February 2019
The Federal Government has introduced legislation to end default life insurance in superannuation for members aged under 25 or with account balances below $6000…
Post-FOFA adviser exodus ‘failed to materialise’
25 February 2019
Growth in the number of financial advisers after the Future of Financial Advice reforms disproves claims there will be an industry exodus if life insurance commissions are scrapped in 2021, Rice Warner says…
Moody’s downbeat on AMP Life
25 February 2019
Moody’s has downgraded AMP Life’s financial strength rating amid deteriorating profitability and increased product risk…
TAL waives premiums for flood and bushfire victims
25 February 2019
Life insurer TAL is waiving premium payments for up to two months to help customers affected by the Queensland floods and Tasmania bushfires…
Advice group Simmons Moore sells to Perks
25 February 2019
Life insurance advice specialist Simmons Moore has been acquired by Adelaide-based accounting and wealth business Perks…
PPS fills Victorian manager role
25 February 2019
Specialist life insurer PPS Mutual has appointed Shadia Kouzma as State Manager of Victoria and Tasmania, reporting to Director of Distribution Brian Pillemer…
Super legislation drops default cover reform
18 February 2019
Default insurance arrangements will remain for superannuation fund members aged under 25 or with low balances, following amendments to the super reform bill last week…
AMP counts losses ahead of life sale
18 February 2019
Negative claims experience and capitalised losses led AMP to record a $3 million operating loss last year for the life businesses it has sold to Resolution Life…
APRA acts on Hayne recommendations
18 February 2019
The Australian Prudential Regulation Authority will address Hayne royal commission recommendations relating to group insurance as part of its review of the implemented superannuation prudential framework…
Don’t rush on Hayne reforms: FSC
18 February 2019
The Financial Services Council has urged the Government to properly scrutinise proposed legislation resulting from the Hayne royal commission…
FPA calls for portable insurance in super
18 February 2019
The Financial Planning Association has called on the Federal Government to investigate measures that would allow people to shift insurance between superannuation accounts…
NZ FSC launches annual conference
18 February 2019
Tickets are now on sale for the annual New Zealand Financial Services Council and Workplace Savings NZ conference…
Sector weighs Hayne recommendations
11 February 2019
Life insurers have given a cautious welcome to the Hayne royal commission’s final report and recommendations…
Royal commission to rattle distribution chain
11 February 2019
The Hayne royal commission’s recommendations are likely to disrupt the life insurance distribution chain, according to consultant Roy Morgan…