AMP Life losses stack up
31 October 2016
AMP Life’s losses continue to rise, with the insurer reporting a negative $44 million exposure in the three months to September 30…
Life Insurance
OnePath bears brunt of life advice compo
31 October 2016
Only two of the big four banks’ life insurance operations will be forced to pay compensation to clients by the Australian Securities and Investments Commission…
Sony investment to aid ClearView expansion plans
31 October 2016
Another Japanese life insurer has entered the Australian market, with Sony Life buying a 14.9% stake in ClearView for $145 million…
Challenger secures AMP, Mitsui distribution agreements
31 October 2016
Challenger has struck new annuity distribution deals with AMP and Mitsui Sumitomo Primary Life…
NobleOak named leading direct life insurer
31 October 2016
NobleOak Life has been named overall winner in the Strategic Insight direct life insurance excellence awards…
The end for Snoopy as MetLife rebrands
31 October 2016
MetLife will roll out its new brand next year, marking the most significant change to its global identity in more than 30 years…
TAL signs up for Movember
31 October 2016
Life insurer TAL has partnered with the Movember Foundation to help make a difference to men’s mental health…
Life framework regulations cover direct insurers
24 October 2016
The Life Insurance Framework will apply to direct life sales, the Federal Government has confirmed…
‘Mind your language’ on disability cover
24 October 2016
The language used in disability income protection policies does not help the industry move from the concept of payout to rehabilitation, according to a reinsurer…
TPB warns on storing client data in the cloud
24 October 2016
Advisers should be aware of issues including offshore data storage when using cloud computing systems, the Tax Practitioners Board has warned…
Bank commission reforms hit stumbling block
24 October 2016
The Australian Bankers Association’s bid to reform staff sales commissions may miss next year’s implementation date…
Synchron aims to grow to 500 advisers
24 October 2016
Synchron plans to grow advisers numbers by about 10% a year over the next two years, taking its authorised representative count from 427 to 500 by September 2018…
APRA keeps eye on group life incentives
24 October 2016
The Australian Prudential Regulation Authority is monitoring risk-sharing arrangements between life insurers and superannuation funds…
Advisers run rule over insurer wellness programs
24 October 2016
Only 14% of advisers think life insurance companies are doing a good job with health and wellness programs, according to a survey from Strategic Insight…
Challenger quarterly annuity sales soar
24 October 2016
Challenger has reported a 46% increase in annuity sales for the September quarter to hit the $1 billion mark…
Legacy systems hamper claims improvement: ASIC
24 October 2016
Life insurers must overhaul legacy systems to better handle claims, the Australian Securities and Investments Commission says…
MLC sells direct cover though NAB network
24 October 2016
MLC Life Insurance will distribute a simple product through NAB’s 760 branches, cutting out financial advisers…
Adviser standards reforms to reach Parliament
17 October 2016
Legislation setting professional standards for financial advisers will be introduced to Parliament this month, Financial Services Minister Kelly O’Dwyer says…
ASIC lines up further surveillance following claims probe
17 October 2016
The Australian Securities and Investments Commission’s six-month review of the life insurance industry has found more than 90% of claims are paid…
BT hits out at ASIC over rejected claims figures
17 October 2016
BT Financial Group says it is the life insurer cited in an Australian Securities and Investments Commission report as declining 37% of total and permanent disability claims…