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Life Insurance

No near-term relief for Life as losses top $1.3 billion

19 October 2020

Further losses are likely in store for the life industry after it made an aggregate loss of $1.3 billion in the last financial year, compared with an $800 million profit in the previous year...

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ALP calls for ‘prohibition of commissions’

19 October 2020

The Australian Labor Party has reiterated its stance against the commission model – indicating that major changes could be on the cards for advisers if the party wins the next federal election, which may be held as early as August next year...

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Minister flags action to cut red tape burden on advisers

19 October 2020

The Federal Government says it is aware of advisers’ concerns over the cost impact of regulatory reforms and is considering ways to ease the burden to support the provision of affordable financial advice...

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PI problems lead to Ballast’s licence suspension

19 October 2020

The Australian Securities and Investments Commission has suspended the financial services licence of Ballast Financial Management for 10 weeks after it was unable to obtain professional indemnity insurance...

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OnePath provides cover for AFL Players Association

19 October 2020

Zurich-owned OnePath will provide total and permanent disability and death cover for the AFL Players Association after the group completed a review process...

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Rise in life profit drives up Clearview’s earnings

19 October 2020

ClearView has reported a 35% rise in underlying net profit to $6.9 million for the first quarter, underpinned by solid contributions from its life insurance division...

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Challenger sees strong annuity sales in Q1

19 October 2020

Investment group Challenger says its life annuity sales in the first quarter grew 46% to $1.23 billion from a year earlier...

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Pandemic doubles customer uptake of MLC’s Mental Health Navigator

19 October 2020

MLC Life Insurance says the number of customers using its Mental Health Navigator service has almost doubled since the onset of COVID-19...

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AMP’s acting CEO joins FSC board

19 October 2020

The Financial Services Council has announced the appointment of AMP Australia acting CEO Blair Vernon as a board director...

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AGI rejigs brand with two new-look websites

19 October 2020

Third-party group insurance administrator Australian Group Insurances is introducing a new “brand aesthetic” with the launch of two refreshed websites...

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FSC’s 2020 advice summit to be held online tomorrow

19 October 2020

The Financial Services Council is holding its 2020 Future of Advice Summit tomorrow, featuring industry, regulatory and academic leaders discussing Australia’s financial advice landscape in detail...

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