FSC admits commission-only advisers will find it hard under new rules
14 March 2016
The Financial Services Council says the Life Insurance Framework Bill has been “carefully designed to minimise the impact on small business”…
Life Insurance
AFA spruiks advisers’ value in life insurance
14 March 2016
The Association of Financial Advisers has come out in strong defence of the role of advisers in the life insurance market…
ASIC to publish life regulations next month
14 March 2016
The Australian Securities and Investments Commission will release its legal framework for the life insurance industry next month, before it takes effect on July 1…
Milestone for financial planning software provider
14 March 2016
Financial planning software provider AdviserLogic has seen $91 billion of life insurance under advice on its systems during the past decade…
Senate committee adds life industry to advice review
07 March 2016
The Senate has voted to include the life insurance industry in terms of reference for its review of financial advice…
Liberal MP condemns life industry framework
07 March 2016
A Liberal backbencher has spoken out against the Federal Government’s Life Insurance Framework legislation…
Zurich buys Macquarie Life
07 March 2016
Zurich Australia will buy Macquarie Life for an undisclosed sum, and says all staff will be transferred when the deal is finalised in the second half of this year…
Government passes FOFA amendments
07 March 2016
Legislation amending the Future of Financial Advice Act has been passed, enabling opt-in renewal notices to be extended to 60 days…
BT takes top gong in life industry awards
07 March 2016
BT Financial Group has been named platinum winner in the Plan For Life and Association of Financial Advisers Life Company of the Year awards…
AZ NGA adds Perth group to growing adviser network
07 March 2016
AZ Next Generation Advisory has acquired Perth-based Wealthwise for $9.5 million, marking its ninth purchase of an Australian wealth advisory in the past 12 months…
TAL links up with education foundation
07 March 2016
TAL has joined forces with the Personal Injury Education Foundation to provide professional courses for its claims and rehabilitation teams…
ANZ insurance moves in structural shake-up
07 March 2016
ANZ’s insurance business in Australia will merge into a new wealth division that also includes superannuation and investments…
MetLife to sell US adviser force
07 March 2016
MetLife has agreed to sell its network of 4000 US advisers to the Massachusetts Mutual Life Insurance Company for an undisclosed sum…
New FPA chief focuses on consumer trust
07 March 2016
The Financial Planning Association’s new CEO Dante De Gori says it is “business as usual” for the industry body…
AMP reveals board changes
07 March 2016
Former AMP Life non-executive director Geoff Roberts will join the financial services company’s main board in July…
Banyan recruit to lead Australasian push
07 March 2016
Banyan Work Health Solutions has appointed Ben Vanden Boom to lead the group’s expansion in the Australian and New Zealand life insurance markets…
ASIC hits out at ‘car yard life cover’
29 February 2016
Only $6 million was paid in claims from life insurance policies sold through car yards in the four years to 2014, according to the Australian Securities and Investments Commission…
Life industry ‘favours death over disability’
29 February 2016
Australian life insurers are attaching greater value to mortality than disability, a new report by the Financial Services Council claims…
Advisers drive ClearView life result
29 February 2016
ClearView says its life insurance inforce premium grew 30% to $132 million in the six months to December 31…
AIA continues to deliver strong results
29 February 2016
New business in AIA’s “other markets” division, including Australia, grew 32% to $US250 million last calendar year…