IP claims dent CommInsure income
14 August 2017
CommInsure says income declined 12.7% to $438 million in the year to June 30 as income protection claims grew to $143 million from $78 million the previous year…
Life Insurance
CommInsure for sale as CBA joins life divestment rush
14 August 2017
Commonwealth Bank is the latest financial institution to put its life insurance business up for sale…
AMP signs new reinsurance deals as profits dive
14 August 2017
AMP Life has reported a 45% slump in profits from its insurance business in the six months to June 30…
FPA joins criticism of ASIC draft SOA
14 August 2017
Opposition to the Australian Securities and Investments Commission’s new statement of advice model continues to grow…
OnePath to pay another $10 million in compensation
14 August 2017
OnePath will pay an additional $10.5 million in compensation to 160,000 superannuation customers affected by breaches between 2013 and last year…
Rethink premiums to keep group life in super, says actuary
14 August 2017
Rice Warner says life insurance should remain an integral part of the superannuation system, despite calls from various quarters for its removal…
AIA raises new business stepped premiums
14 August 2017
AIA Australia is to increase new business stepped premium rates in its Priority Protection and Priority Protection for Platform Investors products…
FPA to open Financial Planning Week with new research
14 August 2017
The Financial Planning Association will focus on the theme “live the dream” for its 17th annual Financial Planning Week, from August 21-27…
Asteron profit dives as parent weighs options
07 August 2017
Suncorp’s Asteron life insurance business has reported a 50% slump in after-tax profit to $34 million for the year to June 30…
Life reinsurance premium tipped to rise
07 August 2017
Global life reinsurance premiums are expected to rise by about 3% a year until 2019, according to a new report from S&P Global…
Tributes paid to former AFA board member
07 August 2017
Life insurance industry stalwart Gerry Porter died late last month…
AFA flags concerns on draft SOA
07 August 2017
The Association of Financial Advisers says a statement of advice is not the primary means of delivering advice on life insurance…
Group cover, SCT remit ‘confuses fund members’
07 August 2017
Fund members are confused about the role of the Superannuation Complaints Tribunal (SCT) when handling disputes about group life insurance premiums…
Greenstone exec steps into CEO role
07 August 2017
Greenstone has promoted COO Brenard Grobler to CEO…
PPS matches benefits to high wage growth
07 August 2017
PPS Mutual has indexed its professionals’ policy benefits against a realistic, proprietary measure of their earnings growth…
Super fund secures IP premium cut
07 August 2017
Intrust Super has negotiated a 12% cut in premiums for its group life income protection policy PayGuard…
Super working group consults on insurance data sharing
31 July 2017
The Insurance in Superannuation Working Group is calling for comment on plans to improve data sharing for group life policies…
Education needed on default life cover: Maurice Blackburn
31 July 2017
Reforms allowing easier opt-out from life cover sold with superannuation are welcome, but education is needed to ensure consumers do not act to their own disadvantage, Maurice Blackburn Principal Kim Shaw says…
AIA new business jumps
31 July 2017
AIA Group’s “other markets” division, which includes Australia, has reported a 35% rise in new business to $US184 million for its first half…
FSC names leadership awards winners
31 July 2017
The Financial Services Council presented excellence awards to six industry executives at last week’s Leaders Summit in Sydney…