Future2 reaches $1 million milestone
12 November 2018
The Financial Planning Association’s philanthropic arm has hit the $1 million mark for donations since its creation 11 years ago…
Life Insurance
Sector’s struggles serve as warning: Guy Carpenter
05 November 2018
Increasing regulatory costs, high earnings volatility and intensive capital costs are rapidly changing local life insurers’ business models and encouraging a wave of divestment to foreign owners, Guy Carpenter says…
Industry defends genetic testing regime
05 November 2018
The Financial Services Council has defended limits included in proposals to change the way the industry handles genetic testing, following criticism from campaigners…
AMP stands up for life sale
05 November 2018
AMP has defended the decision to sell its life insurance arm, telling shareholders incoming CEO Francesco De Ferrari has been given a mandate to establish a new strategic direction…
Gaps in cover expose small business bosses
05 November 2018
A large majority of small business owners leave their companies unprotected by insurance for times when they are unable to work, according to a new report from MetLife…
FPA bids to oversee ethics compliance
05 November 2018
The Financial Planning Association has lodged an expression of interest to administer a higher education and ethics compliance scheme for financial advisers…
Banned advice group fined $9 million
05 November 2018
A Melbourne advice business has been fined nearly $9 million for breaching multiple financial services, credit and consumer protection laws…
FSC adds UBS, Mercer execs to board
05 November 2018
The Financial Services Council has appointed UBS Asset Management Australia CEO Bryce Doherty and Mercer Australia MD Ben Walsh to its board of directors…
BT opens adviser support hub
05 November 2018
BT has launched a support services hub for advisers…
Analysts give thumbs down to AMP life sale
29 October 2018
Financial analysts are unimpressed by the sale of AMP’s life insurance business, criticising both the rationale and financial benefits to the industry giant…
Hayne ‘embarrassment’ worse for life insurers
29 October 2018
Disclosures from the Hayne royal commission have raised caused more damage to life insurance than it has for the general insurance sector, S&P Global Ratings says…
Consumer satisfaction tumbles further
29 October 2018
Customer satisfaction with risk and life insurance continues to decline, falling to 65.4% this year from 66.4% last year, according to a Roy Morgan survey…
APRA sets standard for claims, disputes reporting
29 October 2018
Life insurance claims and disputes data collected under a new six-month compulsory reporting standard will be released from early next year…
Committee rejects industry’s workers’ rehab play
29 October 2018
The Financial Services Council has attacked Canberra for rejecting its push to let life insurers cover the costs of workers’ rehabilitation services…
Group insurance budget benefits ‘doubtful’
29 October 2018
The “public purse” benefits of default insurance policies in superannuation are doubtful due to increased demand for the age pension as premiums erode balances, the Productivity Commission says…
CBA sells Indonesian life business
29 October 2018
Commonwealth Bank has sold its 80% stake in an Indonesian life insurance business to Hong Kong-based FWD Group for $426 million…
Industry premium inflows rise
22 October 2018
Risk premium inflows to the life insurance sector increased 1.8% to $16.4 billion last financial year, according to consultant Strategic Insight…
MetLife upbeat on adviser reputations
22 October 2018
Financial advisers’ reputations can withstand the fallout from the Hayne royal commission, according to research by MetLife Australia…
Kiwis draw a line between life and general insurance
22 October 2018
More New Zealanders buy general insurance policies than life cover, with a “common misconception” around the cost of life insurance seen as a major reason for the difference…
NZ invites feedback on adviser code of conduct
22 October 2018
New Zealand’s Financial Advice Code Working Group has opened consultation on a draft code of professional conduct for financial advisers…