Monthly Archives: August 2018
O’Dwyer to Relay Exam Concerns to FASEA
The Minister for Revenue and Financial Services, Kelly O’Dwyer will relay adviser concerns about the lack of details in the National Exam proposed by FASEA, after the issues was raised in a meeting with...
TAL Buys Asteron Life
TAL Australia will purchase Suncorp’s Australian life insurance business after the two groups announced they had entered into a Heads of Agreement to proceed with the transaction.
TAL stated the deal would cost approximately $640...
AMP Flags Possible Sale of Life Business
AMP has flagged that it may consider the sale of its life insurance business in Australia as part of an ongoing wider strategic review of the group’s business.
Speaking at a media briefing following the...
Zurich Names New Integrated Leadership Team
Zurich Australia has announced it will retain a number of OnePath Life executives within its combined senior leadership team following the completion of the acquisition of insurer from ANZ.
The group released the details of...
Call for Individual Adviser Licensing
Financial institutions and regulators are standing in the way of client-centric reforms, and moves to license individual advisers, in a bid to retain control and promote their own self-interests, according to Connect Financial Service...
BT Introduces Level Premium Policy Replacement
BT Financial Group will allow level premium policy holders to change the funding method and ownership structure of their policy while retaining their original entry age premium rates under a new replacement policy.
BT Life...
MetLife Australia Expands Underwriting and Sales Teams
MetLife Australia has made a number of key appointments to its retail service and underwriting teams ahead of its expected re-entry into the retail advised space later this year.
The life insurer announced that it...
Poll Results – Outsourcing Clients’ Claims
The majority of advisers have said they prefer to manage their clients' claims, rather than outsource them.
Advisers have made this assessment following our report last week on the emergence of claims advocacy services (see:...
ASIC Staff to be Placed Within Institutions
ASIC has received a boost to its enforcement capabilities with the Federal Government announcing it would fund the placement of embedded staff within major institutions to monitor governance and compliance actions.
The move is part...
Fee For No Service Remediation Could Pass $850 Million
ASIC has indicated it expected remediation related to the charging of fees for no service (FFNS) to pass $850 million.
The regulator put forward the figure in its latest report on the progress of FFNS...