Use budget to tackle legacy problems: FSC
18 March 2019
The Financial Services Council has urged the Federal Government to use next month’s budget to cut red tape preventing the retirement of substandard legacy financial products…
Life Insurance
TAL doubles up on industry award
18 March 2019
TAL has been named the Association of Financial Advisers’ life company of the year for the second year running, beating AIA, OnePath Life and Zurich Financial Services…
CBA delays wealth management sale
18 March 2019
Commonwealth Bank of Australia has “suspended” the sale of its wealth management operations, including its financial advice business, to concentrate on Hayne royal commission recommendations…
APRA tells insurers to update stress testing
18 March 2019
Life insurers should incorporate emerging risks such as cyber attacks into their stress testing scenarios, the prudential regulator says…
FPA reaches out to uni students
18 March 2019
The Financial Planning Association has launched a new networking program aimed at attracting university students to the profession…
Consumers won’t pick up the tab for life advice
11 March 2019
Nearly 30% of consumers are unwilling to pay out-of-pocket fees for life insurance advice, according to a Rice Warner study…
AFCA tells FSC to make super code compulsory
11 March 2019
The Australian Financial Complaints Authority has criticised plans to include the insurance in superannuation code as a voluntary commitment within the Life Insurance Code of Practice…
Industry urged to get real on innovation
11 March 2019
Life insurers must undertake a fundamental product redesign and underwriting transformation to be sustainable in the long term, consultant Oliver Wyman warns…
S&P positive on Suncorp Life after TAL deal
11 March 2019
S&P Global has upgraded its outlook on Suncorp Life to positive after the business’ sale to TAL completed two weeks ago…
FPA online tool addresses FASEA confusion
11 March 2019
The Financial Planning Association has launched an online education portal to combat confusion about forthcoming higher education requirements for advisers…
Integrity takes plunge into retail market
11 March 2019
Integrity Life has fully expanded into the retail market after piloting products with a select group of life advisers…
Profits continue decline as investments struggle
04 March 2019
The life insurance sector’s struggle to maintain viability has been laid bare by the prudential regulator, which says falling investment revenue has slashed profits over the past year…
TAL wraps up Suncorp sale, names integration chief
04 March 2019
TAL has completed its acquisition of Suncorp’s life insurance business and has appointed Andrew Howard as Chief Commercial Officer to lead the integration…
Claims, lapses hit ClearView profit
04 March 2019
ClearView suffered a 13% drop in net profit in the six months to December…
AMP on credit watch amid life divorce
04 March 2019
AMP and its subsidiaries have been placed on a “negative credit watch” by S&P Global Ratings as the group separates from its life insurance businesses…
Freedom holds talks as future remains uncertain
04 March 2019
Freedom Insurance has confirmed it is holding confidential discussions with key stakeholders about its financial position…
APRA consults on threat from offshore reinsurers
04 March 2019
The Australian Prudential Regulation Authority has asked life insurers for input on a review of capital adequacy standards for overseas players…
BT upgrades quoting software
04 March 2019
BT has upgraded its life insurance quote and application software, to make it easier for advisers to obtain cover…
Pacific Life Re’s local MD takes on Asia role
04 March 2019
Pacific Life Re has appointed Andrew Gill as MD of its Australian and Asian businesses…
Grandfathering ban moves a step nearer
25 February 2019
The Federal Government has introduced draft legislation to ban grandfathered commissions paid to financial advisers from January 2021…