ANZ finalises reinsurance arrangement with Zurich
14 May 2018
ANZ has received about $1 billion of upfront reinsurance commission from its $2.85 billion sale of OnePath to Zurich…
Life Insurance
AMP denies crimes, says fate should lie with ASIC
07 May 2018
AMP has denied committing criminal offences in the fees-for-no-service scandal, telling the Hayne royal commission it lacks evidence to make such a finding and further action should be left to the corporate regulator…
AMP names Murray as Chairman
07 May 2018
Former Commonwealth Bank CEO and Financial System Inquiry chairman David Murray has been appointed Chairman of AMP…
Under-fire AMP placed on ‘credit watch’
07 May 2018
Investors may be getting itchy feet after S&P Global Ratings placed AMP and all subsidiaries on a negative “credit watch” following revelations of corporate misconduct…
ANZ cuts sales incentives, cracks down on poor advice
07 May 2018
ANZ has unveiled a raft of changes to improve the quality of its financial advice offering, including removing sales incentives for financial planning…
NAB to divest MLC by 2020
07 May 2018
NAB aims to offload its MLC wealth management business by the end of next year…
One-third of execs want more stringent industry code
07 May 2018
The Life Insurance Code of Practice has set the bar too low, according to 36% of industry leaders surveyed at a conference…
ASIC removes licence over reporting failures
07 May 2018
The Australian Securities and Investments Commission has cancelled Mackellar Financial Services’ financial services licence.
ALUCA to name award winners
07 May 2018
The Australasian Life Underwriting and Claims Association will announce the winners of its inaugural excellence awards this month…
Wilkins steps up again after AMP chairman quits
30 April 2018
Former IAG CEO Mike Wilkins has been appointed Executive Chairman of AMP, effective immediately…
Misconduct may bring harsh penalties, commission hears
30 April 2018
AMP, Westpac, NAB, Commonwealth Bank and other financial advice groups may face steep civil and criminal penalties for poor conduct and corporate deceit…
Actuary group calls for FOFA review
30 April 2018
Rice Warner has questioned why much of the financial advice industry has failed to meet consumers’ needs, and has called for a review of the Future of Financial Advice reforms…
ClearView terminates Sony Life tie-up
30 April 2018
ClearView Wealth has ended a co-operation agreement with Sony Life, 16 months after it was established…
Asteron unveils flexible mortgage insurance for NZ
30 April 2018
Asteron has introduced a flexible mortgage insurance policy for the New Zealand market…
Pacific Life Re enhances underwriting platform
30 April 2018
Pacific Life Re has engaged a health and wellness consultant to help update its claims rules engine…
Meller goes as AMP acts to repair battered brand
23 April 2018
AMP has vowed to clean up its act after years of corporate deception by senior executives was exposed during the royal commission on financial services misconduct…
AMP faces shareholder class action
23 April 2018
An international law firm is preparing a class action for shareholders against AMP over its $1 billion stock price plunge since early last month…
BOQ sells life business to Freedom
23 April 2018
Freedom Insurance Group will buy the Bank of Queensland St Andrew’s life and loan protection business in a $65 million deal…
ASIC bans adviser for four years
23 April 2018
The Australian Securities and Investments Commission has banned former Suncorp financial adviser Gerald Grubwinkler from providing financial advice for four years…
REI Super adopts insurance code
23 April 2018
REI Super has adopted the Insurance in Superannuation Voluntary Code of Practice…