- Sentry Unveils New Corporate Branding;
- Asteron and Macquarie Announce CPI Increases;
- AMP Posts Modest Insurance Loss
Sentry unveils new corporate branding
Financial planning company Sentry Group has launched a new website, corporate branding and style a month after announcing a new management team.
Sentry Group Executive Chair and Chief Executive Murray Hills said the group had continued to grow in a period of change and challenge in financial services and was, after 10 years, one of the three largest non-aligned financial planning groups in Australia.
Murray said the new management team – made up of four separate divisions – would create further growth as the group focused on assisting its advisers to build their own efficient businesses.
“Long before FoFA Sentry has been delivering programs and initiatives that advisers can adapt and personalise to address the individual wealth accumulation, lifestyle / asset protection and retirement goals of their clients in a way that is far more holistic, transparent and compliant,” Hills said.
“Our independence of institutional influence and ownership continues to attract adviser interest and is a compelling factor for existing practices to maintain their relationship.”
Hills said the new website and corporate branding would give Sentry advisers a strong marketing platform and latest industry news to use in their businesses.
Asteron and Macquarie Announce CPI Increases
Life insurers Asteron and Macquarie have released their consumer price index (CPI) policy fee increases with Asteron increasing fees by 1.5% and Macquarie by 1.5% for its FutureWise policies and 3.0% for its Sumo policies.
The increases will take effect from 1 March 2016 with Asteron and Macquarie’s new rates, in dollar terms set out below:
Asteron
Payment frequency 2015 2016
Yearly $86.12 $87.41
Half Yearly $44.35 $45.02
Quarterly $22.74 $23.08
Monthly $7.58 $7.69
Macquarie
Yearly 2015 2016
FutureWise $95.90 $97.34
Active $ – $ –
Sumo $282.75 $291.23
Monthly 2015 2016
FutureWise $7.99 $8.11
Active $ – $ –
Sumo $23.56 $24.27
AMP Posts Modest Insurance Loss
Listed financial services group AMP Limited has reported a net profit of $972 million for the full year to 31 December 2015 but lost out slightly in its life insurance division posting a slightly smaller profit earning than the previous year despite higher profit margins.
AMP stated its underlying profit was $1,120 million compared with $1,045 million for previous financial year with good earnings growth particularly in Australian wealth management, AMP Capital, AMP Bank and New Zealand.
In contrast the group’s life insurance business operating earnings were $185 million in the 2015 financial year compared with $188 million in 2014, however profit margins increased over the same period from $187 million to $196 million.
It stated the insurance division’s claims experience “reflected the continued roll out of the new claims approach, reversion to long term assumptions and volatility in the second half of the year”.
