Coalition presses on with under-25s opt-in bill
25 February 2019
The Federal Government has introduced legislation to end default life insurance in superannuation for members aged under 25 or with account balances below $6000…
Life Insurance
Post-FOFA adviser exodus ‘failed to materialise’
25 February 2019
Growth in the number of financial advisers after the Future of Financial Advice reforms disproves claims there will be an industry exodus if life insurance commissions are scrapped in 2021, Rice Warner says…
Moody’s downbeat on AMP Life
25 February 2019
Moody’s has downgraded AMP Life’s financial strength rating amid deteriorating profitability and increased product risk…
TAL waives premiums for flood and bushfire victims
25 February 2019
Life insurer TAL is waiving premium payments for up to two months to help customers affected by the Queensland floods and Tasmania bushfires…
Advice group Simmons Moore sells to Perks
25 February 2019
Life insurance advice specialist Simmons Moore has been acquired by Adelaide-based accounting and wealth business Perks…
PPS fills Victorian manager role
25 February 2019
Specialist life insurer PPS Mutual has appointed Shadia Kouzma as State Manager of Victoria and Tasmania, reporting to Director of Distribution Brian Pillemer…
Super legislation drops default cover reform
18 February 2019
Default insurance arrangements will remain for superannuation fund members aged under 25 or with low balances, following amendments to the super reform bill last week…
AMP counts losses ahead of life sale
18 February 2019
Negative claims experience and capitalised losses led AMP to record a $3 million operating loss last year for the life businesses it has sold to Resolution Life…
APRA acts on Hayne recommendations
18 February 2019
The Australian Prudential Regulation Authority will address Hayne royal commission recommendations relating to group insurance as part of its review of the implemented superannuation prudential framework…
Don’t rush on Hayne reforms: FSC
18 February 2019
The Financial Services Council has urged the Government to properly scrutinise proposed legislation resulting from the Hayne royal commission…
FPA calls for portable insurance in super
18 February 2019
The Financial Planning Association has called on the Federal Government to investigate measures that would allow people to shift insurance between superannuation accounts…
NZ FSC launches annual conference
18 February 2019
Tickets are now on sale for the annual New Zealand Financial Services Council and Workplace Savings NZ conference…
Sector weighs Hayne recommendations
11 February 2019
Life insurers have given a cautious welcome to the Hayne royal commission’s final report and recommendations…
Royal commission to rattle distribution chain
11 February 2019
The Hayne royal commission’s recommendations are likely to disrupt the life insurance distribution chain, according to consultant Roy Morgan…
AMP Life head to take CEO role under new parent
11 February 2019
Megan Beer has been appointed AMP Life CEO and will continue leading the business after its sale to international insurer Resolution Life is completed in the second half of the year…
Scandal-hit Freedom’s shares suspended
11 February 2019
Freedom Insurance is unsure when it can announce details of its financial status and has asked for its shares to be suspended on the Australian Securities Exchange “pending such an announcement”…
NAB to delay MLC sale
11 February 2019
NAB is likely to delay offloading MLC Wealth Management until the 2020 financial year following weak trading results and amid fallout from the Hayne royal commission…
Commission demands group cover probe
04 February 2019
The Productivity Commission wants an independent public inquiry into group insurance, saying it provides poor outcomes for low-income members…
Regulators savage NZ life insurer conduct
04 February 2019
New Zealand regulators have sharply criticised the life insurance industry’s poor governance and conduct following a review…
MetLife names new chief
04 February 2019
MetLife has appointed Statewide Super CEO Richard Nunn as its next CEO, effective from May…