CommInsure restructures life business
21 June 2010
CommInsure has restructured its life insurance business unit and appointed four new GMs to head up each of its business lines…
Life Insurance
Opportunity knocks for Australian insurers in Asia
21 June 2010
Australian financial services firms are failing to make the most of considerable new opportunities in Asia, Axa Asia Pacific CEO Andrew Penn says…
FPA forms Treasury taskforce
21 June 2010
The Financial Planning Association has established a dedicated taskforce to respond to the FPA’s consultation program with the Federal Treasury on industry reform…
FPA board member fires broadside as he quits
15 June 2010
Financial Planning Association board member Rob Pedersen has resigned from the organisation, claiming the board is out of touch with industry needs…
Super fund insurance disclosure ‘appalling’
15 June 2010
Superannuation research and consultancy firm Chant West has issued a damning report on life insurance disclosure standards, calling for greater consistency…
NAB faces uphill battle in Axa buyout
15 June 2010
National Australia Bank will have to do more than sell off the North investment platform to appease the competition regulator’s concerns over its bid for the local units of Axa Asia Pacific…
Islamic finance ‘important to Australia’
15 June 2010
The Federal Government plans to harness the potential of Islamic finance and insurance to help establish Australia as a leading regional financial services centre…
NAB and Axa revive buyout
07 June 2010
National Australia Bank remains in the driver’s seat to acquire the Australian and NZ assets of French insurer Axa after securing an extension to an exclusivity agreement…
Prudential, AIG call off merger
07 June 2010
AIG will revisit a public float of its Asian life insurance assets while UK giant Prudential considers the future of CEO Tidjane Thiam after the blockbuster £35.5 billion ($61.6 billion) deal…
Asteron tackles life side-effects
07 June 2010
Suncorp subsidiary Asteron has rejigged its life insurance underwriting procedures to mitigate the spillover effects of a Federal Government decision to reduce limits on…
MLC cashes in on commission switch
07 June 2010
While some financial planners anticipate a significant drop in earnings once the commission ban takes effect in 2012, others are finding opportunities to spruik their services…
Prudential shareholders to vote on takeover
31 May 2010
Prudential shareholders head to the ballot box next week to vote on a record-breaking $US35.5 billion ($41.7 billion) play for AIG’s Asian unit. However, a union of the two is far from assured…
Insurance soars in Tower result
31 May 2010
NZ financial group Tower says the business is now back on track after posting a 28.8% lift in half-year profit on reduced claims and steady investment income…
Tower Australia records profit, boosts war chest
31 May 2010
Tower Australia will raise $96 million in new capital to fund new buying opportunities after the life insurance specialist booked a 5% rise in first-half net profit…
Direct life market growing strongly
31 May 2010
The number of direct life insurance products sold in Australia has increased by 27% in just two years, according to a new report by actuaries Rice Warner…
Fit customers win discount from life provider
31 May 2010
Fit and healthy customers will be rewarded with life insurance discounts of up to 20% under a new policy benefit unveiled by Suncorp subsidiary Asteron…
Planners move first to axe commissions
24 May 2010
Australia’s largest financial planning firms are moving swiftly to abolish commission payments ahead of a 2012 Federal Government deadline…
Prudential’s ambitions unclear in Australasia
24 May 2010
Global financial services giant Prudential has unveiled a record £14.5 billion ($25.05 billion) rights issue to fund its takeover of AIG’s Asian life assets, but the future of the division’s…
Smaller financial firms turn to insurance
24 May 2010
Boutique financial firms are adding risk products to their portfolios as the downturn forces planners to sow new revenue streams…
Macquarie improves life offering
24 May 2010
Macquarie Life hopes to revolutionise the Australian insurance industry with its new policy combining life, trauma and total permanent disability cover, as well as a range of additional benefits…