Citigroup in firing line over phone sales practices
07 December 2009
Citigroup says it has ironed out problems with telephone sales of its credit card insurance that came under the gaze of the Australian Securities and Investments Commission…
Life Insurance
Ripoll inquiry wins adviser group support
30 November 2009
The Investment and Financial Services Association, the Financial Planning Association and the Association of Financial Advisers have welcomed the bulk of the Ripoll Inquiry’s…
Social disability insurance scheme mooted
30 November 2009
The Productivity Commission will consider the introduction of a social insurance scheme to cover long-term care and support for the disabled…
Advisory groups back new standards board
30 November 2009
Adviser groups have backed a parliamentary committee recommendation to introduce an independent industry professional standards body…
Insurance off the FPA fee agenda – for now
23 November 2009
The Financial Planning Association says further investigation is required before risk insurance products can be considered for inclusion in its new fee-for-service model…
Bowen urges move away from commissions
23 November 2009
The move away from commissions in the financial services sector will improve transparency for consumers, according to Financial Services Minister Chris Bowen…
Ripoll Inquiry findings in lockdown
23 November 2009
A firm “no comment” is coming from the office of Federal MP Bernie Ripoll in advance of tonight’s release of findings from the parliamentary joint committee inquiry…
Axa move on subsidiary spurs downgrade
16 November 2009
Standard & Poor’s has lowered its ratings on Axa’s Asia Pacific Holdings’ Australian and New Zealand business units from AA to A+ following majority shareholder Axa SA’s…
Planners’ association figures reflect tough times
16 November 2009
The Financial Planning Association’s accounts for the past financial year reflect a challenging period for the people it represents…
AMP enters strategic deal with China Life
16 November 2009
AMP has entered into an agreement with China Life Insurance to expand into the Asian asset and pension management market…
Criticism leads to NZ adviser committee resignations
16 November 2009
An independent consumer organisation’s scathing assessment of financial advice has led to the exit of two members from the industry committee working on New Zealand’s code of…
Professional indemnity wrangle over Storm Financial
16 November 2009
Insurers are resisting professional indemnity insurance claims related to collapsed advisory firm Storm Financial…
Axa Asia-Pacific rejects bid from its parent and AMP
09 November 2009
Axa Asia Pacific Holdings has rejected an $11 billion takeover proposal from its Paris-based parent company and rival financial services giant AMP…
Macquarie’s funding operation on solid footing
09 November 2009
Growing life and premium funding opportunities have contributed to an 83% increase in Macquarie Banking and Financial Services Group half-year profit to $137 million…
Green takes top job at AIA Australia
09 November 2009
Newly appointed AIA Australia CEO Damien Green is looking forward to the challenge of leading one of the country’s largest insurers in life risk…
Westpac insurance units kick on
09 November 2009
Westpac Banking Corporation insurance units have delivered a 20% increase in annual cash earnings of $191 million as premium growth offsets higher general insurance claims…
IFSA board takes on two new directors
02 November 2009
The Investment and Financial Services Association board has received a slight shake-up following its AGM last week, with ING Australia CEO Harry Stout and Mercer Australia CEO…
Super deal to revive group premiums at Tower
02 November 2009
Tower Australia expects its new group risk account with AustralianSuper, which kicked off yesterday, will offset the departure of Asgard and ANZ mastertrusts early this year…
MLC banks on Aviva acquisition
02 November 2009
Wealth management and life insurance provider MLC expects good returns from the buyout of Aviva Australia after net operating income fell 15% in the year to September…
FPA board approves fee-based pay
26 October 2009
Financial Planning Association members will stop receiving commissions from July 2012…