Life Insurance
Life net profit tops $1.2 billion as investments recover
28 August 2023
The life industry achieved sharply higher earnings for the year to June 30 as investments returns rebounded strongly to a $4.8 billion profit from a year-earlier deficit of $6.3 billion, according to the Australian Prudential Regulation Authority...
ClearView aims for growth after life earnings surge
28 August 2023
ClearView Wealth is aiming to grow its share of the life insurance market after group underlying net profit grew a record 41% to $36.5 million for the year to June 30...
ASIC levy: advisers want more transparency over enforcement costs
28 August 2023
The Australian Securities and Investments Commission lacks transparency over its use of resources to monitor corporate behaviour, the adviser peak body says...
Adviser peak body seeks nominations for inaugural awards
28 August 2023
The Financial Advice Association Australia has launched its inaugural excellence awards following its creation this year from the merger of the Association of Financial Advisers and Financial Planning Association...
MetLife steps up commitment to First Nations people
28 August 2023
MetLife has launched its Reflect Reconciliation Action Plan, building on the initial First Nations people-focused program started in 2020 by the life insurer...
Zurich progresses with OnePath integration
28 August 2023
Zurich and OnePath General Insurance have given notice of their intention to make a joint application to the Federal Court seeking confirmation of a scheme to transfer OnePath’s business into the Swiss insurer...
AMP settles royal commission-triggered class action
21 August 2023
AMP has settled a shareholder class action related to revelations emerging from the Hayne royal commission for $110 million...
Complaint about fraudulent TPD payment fails
21 August 2023
The Australian Financial Complaints Authority has backed a superannuation trustee after it paid a total and permanent disability insurance benefit to the insured's mother, who was acting fraudulently...
Challenger earnings rise as life sales top $9.7 billion
21 August 2023
Investment group Challenger posted improved earnings in the last financial year, supported by its core life business...
NZ financial services industry names award winners
21 August 2023
The Financial Services Council of New Zealand has celebrated the industry’s top achievers at its annual awards dinner last week...
TAL outlines AI approach
14 August 2023
TAL says generative artificial intelligence has the potential to play a key role in its business such as enhancing customer experience...
NZ lawyer loses court appeal for terminal illness payout
14 August 2023
A Christchurch lawyer who unsuccessfully sued his life insurer for breach of contract after his claim for a $NZ1.2 million terminal illness payout was denied, has lost his appeal to overturn the High Court decision...
Suncorp NZ life business triples earnings
14 August 2023
Asteron Life, the Suncorp-owned New Zealand life insurer, more than tripled its earnings in the last financial year as new business grew 25% during the period...
Stress test findings reveal NZ life industry’s resilience
14 August 2023
The New Zealand life industry is financially strong enough to cope with a new pandemic and other shocks such as economic stress and higher mortality rates, a stress test by the central bank has found...
TAL scores partnership deal with AFL
14 August 2023
TAL has signed a three-year contract with the Australian Football League to be the official life insurance partner of the women’s competition...
‘Virtually impossible to help’: life insurer wants advice restriction lifted
07 August 2023
MLC Life Insurance has urged the Federal Government to lift restrictions barring life insurers from providing customers with “simple advice” about their insurance needs...
Select founder appeals court ruling
07 August 2023
BlueInc founder Russell Howden, whose businesses were found to have engaged in “unconscionable conduct” when selling life and funeral insurance, has filed a notice of appeal to the Federal Court...
Morrows, Bombora team up to offer insurance solutions
07 August 2023
Financial advisory firm Morrows and risk insurance licensee Bombora have joined forces to offer specialised insurance advice for businesses and individuals...
PPS Mutual changes eligibility criteria to cover more professions
07 August 2023
PPS Mutual has expanded its membership eligibility criteria, allowing more professionals across several new disciplines to access its life insurance offerings...
Life insurance disputes fall in year to June
31 July 2023
The Australian Financial Complaints Authority says life insurance complaints totalled 1898 in the year to June, down by almost a quarter from 2482 a year earlier...