Industry on notice after ASIC review
25 August 2025
The life industry is under pressure after an Australian Securities and Investments Commission review found “notable deficiencies” in the way products are sold direct to consumers...
Life Insurance
Group premiums continue to climb amid challenges
25 August 2025
Premiums on group life insurance policies with long-term benefit periods increased 15%-25% on average in the first half, according to a Marsh Australian mid-year market update...
NZ advisers salute code update
25 August 2025
Financial Advice New Zealand has hailed the new industry code as a “defining moment in the evolution of our profession”...
Actuaries launch product sustainability guide
25 August 2025
The Actuaries Institute has prepared a sustainability guide for life insurance products...
Challenger profits as annuity demand grows
25 August 2025
Australian wealth group Challenger has posted a 9% rise in normalised net profit after tax, which totalled $456 million for the year to June 30, in line with earnings guidance...
MetLife backs financial literacy program
25 August 2025
The MetLife Foundation has made a $US110,00 ($169,685) contribution to the Financial Basics Community Foundation’s education program for disadvantaged young Australians...
Industry backs demand for action on mental health crisis
18 August 2025
Life insurers have joined a mental health advocate in calling for the federal government to deliver on its $1 billion election promise to fund wellbeing initiatives...
Code monitor moves to avoid breach double-ups
18 August 2025
The Life Code Compliance Committee has set out its approach to breach reporting after insurers flagged concerns over duplication...
Truckie wins TPD payout 10 years after stopping work
18 August 2025
AIA has to pay an injured truck driver’s total and permanent disability benefit after the industry ombudsman backed his claim...
Swiss Re platform ‘demonstrates potential’ for rollout
18 August 2025
Swiss Re sees global potential for its Underwriting Ease platform following feedback from life industry clients...
Insurer hit with capital measure over prudential risk concerns
11 August 2025
The prudential regulator has ordered KeyInvest to hold an additional $5.5 million in capital after it found shortcomings in the life insurer’s risk management framework...
Move to cut benefits came too late, AFCA says
11 August 2025
A life insurer has been ordered to pay compensation after threatening to reduce income protection benefits more than 11 years after a claim...
Acenda forms data partnership with UnderwriteMe
11 August 2025
Acenda has announced a collaboration with insurtech UnderwriteMe that will help the life insurer collect and process medical information...
TAL eyes simple way to win customers
11 August 2025
TAL has stepped up its marketing efforts, launching a new brand platform and simplifying the way it talks about life insurance so consumers understand how products work...
Peak body vows ‘transparent’ code review
04 August 2025
The Council of Australian Life Insurers says it is committed to a “transparent and inclusive” review of its industry code of practice, to be led by former regulator Peter Kell...
Genetic test ban on the way, Mulino says
04 August 2025
Financial Services Minister Daniel Mulino says legislation banning the use of genetic testing in insurance underwriting will be introduced “as soon as practicable”...
Treasury consults on last resort scheme funding
04 August 2025
Federal Treasury has launched a consultation on ways to address a funding shortfall in the Compensation Scheme of Last Resort...
TAL secures stake in Challenger
04 August 2025
TAL has become a minority shareholder in Australian wealth group Challenger...
Research shows young Australians falling into advice gap
28 July 2025
The Council of Australian Life Insurers warns most young people are missing out on financial advice, despite growing demand...
Fund misled members on exclusions
28 July 2025
A mutual fund that said it was “clarifying” a list of excluded medical conditions misled members, the complaints authority says...