05 September 2022
The individual disability income insurance line may again be in “jeopardy” amid signs that providers are prioritising sales over product sustainability, Australian Prudential Regulation Authority Deputy Chair Helen Rowell warns...
05 September 2022
NobleOak Life says in-force premium is “the key value driver” of its business, fuelling a 35% rise in full-year underlying net profit after-tax to $9.5 million...
05 September 2022
MLC Life has appointed Lesley Mamelok as its new Chief Financial Officer from October 28...
29 August 2022
Individual disability income insurance made more than $1 billion in net profit for the year to June 30, reinforcing hopes the troubled line is on the mend after the Australian Prudential Regulation Authority took action, including capital measures, to force providers to improve product pricing and design...
29 August 2022
The Financial Planning Association wants the Australian Securities and Investments Commission industry levy freeze extended, saying the proposed measure will give its members “certainty” with their cost planning...
29 August 2022
ClearView Wealth says its life insurance arm “remains the group’s main profit driver” after the business achieved a 22% rise in overall full-year underlying net profit from continued operations to $26.4 million...
29 August 2022
The Labor Government has pushed ahead with its election promise to remove the tertiary qualification requirement for “experienced” financial advisers, as part of its review of adviser standards for the profession...
29 August 2022
Kaplan Professional has launched a paraplanning course designed for existing and new paraplanners as well as those seeking a pathway into the financial advice industry...
22 August 2022
The Australian Securities and Investments Commission has secured more than $102 million in remediation for Freedom Insurance customers who were, or may have been, mis-sold insurance between 2010 and 2018...
22 August 2022
A complainant who says he was “misled” into believing large rate increases would not occur with a level premium policy has lost his dispute...
22 August 2022
Challenger’s life business performed strongly in the last financial year, achieving a 18.4% rise in normalised earnings before interest and tax to $472.3 million from the prior corresponding 12-month period...
22 August 2022
MLC Life Insurance is looking to increase its share of the group insurance market as the business announced it has been re-appointed as Maritime Super’s insurance partner, effective last month...
22 August 2022
New Zealanders do not really understand how the country’s no-fault accidental injury compensation scheme works, potentially leaving them without critical life insurance coverage, according to new research from Partners Life...
15 August 2022
The Australian Financial Complaints Authority says the term “level” premium is confusing for life policyholders, leading many to believe the premiums they pay will not change...
15 August 2022
Financial advisers and planners have voiced concerns about upcoming levy cost burdens after the Federal Government announced Treasury has commenced a review of the Australian Securities and Investments Commission industry funding model...
15 August 2022
MLC Life Insurance has highlighted the need to ensure Australians have access to advice as the industry awaits the release of an interim paper from Quality of Advice independent reviewer Michelle Levy...
15 August 2022
The Albanese Government has outlined its plans for the financial advice sector, more than two months after taking office...
15 August 2022
The corporate regulator has found “indicators of significant compliance issues” over the way some superannuation trustees are managing their internal dispute resolution schemes, potentially placing them in breach of rules that commenced last year...
15 August 2022
New Zealand’s Financial Markets Authority has filed court proceedings against Cigna over “indexation increases” the business applied to more than 52,000 life policyholders, causing them to pay $NZ13.5 million in additional premiums for the increased cover that it provided...
15 August 2022
The proposed compensation scheme of last resort must be “broad-based” so that it will cover all victims of financial misconduct, the Financial Planning Association says...