MetLife’s 360Health wins Gold Stevie
27 July 2020
MetLife’s 360Health has won the Gold Stevie Award for innovation in health and wellness at the seventh annual Asia-Pacific Stevie Awards...
Life Insurance
FSC backs case for Australia to become a financial services hub
20 July 2020
The Financial Services Council has supported calls to take advantage of an opportunity presented by turmoil in Hong Kong to make Australia an international financial services hub...
Life risk inflow declines
20 July 2020
Overall life risk premium inflows fell 3.6% to $16.3 billion for the year to March from a year earlier, as a number of life insurers recorded declines, according to data compiled by actuaries and researchers Plan for Life...
S&P lowers ratings on AMP after Life sale
20 July 2020
Standard & Poor’s has lowered its rating on AMP Group Holdings Limited one notch to BBB, from BBB+, after the $3 billion sale of its life insurance business to Resolution Life earlier this month...
ASIC wins appeal over ruling on banned WA adviser
20 July 2020
The Administrative Appeals Tribunal will re-determine the case of banned WA adviser Robert Hutchison, following a successful court appeal by the Australian Securities and Investments Commission...
FSC names new board members
20 July 2020
The Financial Services Council has announced four new board members, who will also be part of a newly created committee focusing on strategic policy directions for the Australian funds management sector...
AIA sponsors Sydney FC, Brisbane Roar clubs
20 July 2020
Life and health insurer AIA will sponsor the Sydney FC and Brisbane Roar clubs during the completion of the current A-League season...
Life industry faces new pressure over TPD virus measures
13 July 2020
The Financial Services Council has responded to a new pressure campaign from consumer advocates who claim life insurers are planning to reintroduce "discriminatory terms" to total and permanent disability covers when the JobKeeper scheme ends in September...
OnePath Life backed over accidental death dispute
13 July 2020
OnePath Life’s decision not to pay a $100,000 accidental death benefit for a man who died of an infection affecting his heart has been upheld by the Australian Financial Complaints Authority...
FSC backs report calling for removal of insurance taxes
13 July 2020
The Financial Services Council has backed recommendations made by a NSW report calling for the axing of all state insurance taxes, including the controversial Emergency Services Levy...
Pandemic could spark M&A storm as advisers look for way out: lawyer
13 July 2020
The financial advice industry may be in for a "wave of merger and acquisition activity" as the virus disruption continues to stretch advisers’ resources, according to law firm Cornwalls...
Virus impact, regulatory changes top FSC’s life summit program
13 July 2020
The Financial Services Council will kick off its annual Life Insurance Summit later this month with an opening session from Superannuation, Financial Services and Financial Technology Assistant Minister Jane Hume...
Class actions risk fuelling PI cost: AMP chief
06 July 2020
AMP CEO Francesco De Ferrari has voiced support for increased oversight of litigation funders, tying their financial backing of class actions to the escalating cost of securing professional indemnity insurance...
Advisers fear price of reforms could outweigh benefits
06 July 2020
Reforms aimed at lifting standards in the financial advice industry have led to increased compliance cost for advisers, with adverse impact on consumers in the form of higher fees, a parliamentary hearing was told last week...
Sold: AMP exits life insurance after 170 years
06 July 2020
The $3 billion sale of AMP’s life insurance business to Resolution Life is complete...
ASIC cancels licence of insolvent financial advice firm
06 July 2020
The Australian Securities and Investments Commission has cancelled the licence of MyPlanner Professional Services, a Queensland-based financial services provider that is in liquidation...
Managed funds hit by virus chaos
06 July 2020
Funds under management in both the wholesale and retail markets fell sharply in the March quarter, as the virus pandemic soured investor mood, according to data from actuaries and researchers Plan for Life...
BT customers embrace tele-claims
06 July 2020
More than half of life insurance claims made by retail customers are now lodged over the phone, Westpac-owned wealth manager BT says...
ClearView gets new chairman, director
06 July 2020
The board of ClearView Wealth has appointed Geoff Black as its new chairman and Jennifer Lyon as director...
Jennifer Mogg joins AMP adviser association board
06 July 2020
Jennifer Mogg has been appointed to the board of The Advisers Association, which was created with a name change after AMP Financial Planners Association merged with Hillross Advisers Association...