{"id":55727,"date":"2021-05-03T13:48:15","date_gmt":"2021-05-03T03:48:15","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=55727"},"modified":"2021-05-04T16:01:18","modified_gmt":"2021-05-04T06:01:18","slug":"bt-life-insurance-profit","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2021\/05\/03\/bt-life-insurance-profit\/","title":{"rendered":"BT Life Insurance Profit"},"content":{"rendered":"<p>Westpac has reported its BT Life Insurance business delivered a $72 million profit in its 1H 2021 results.<\/p>\n<p>The result, for the six months to 31 March 2021, appears to have been built from two critically important factors, being:<\/p>\n<ul>\n<li>Lower claims experience<\/li>\n<li>Higher retention rates for in-force policies<\/li>\n<\/ul>\n<p>While the profit number in 1H 2021 represents an increase of $10 million over the results reported in 2H 2020, the bank appears to remain committed to offloading its insurance arm. This is made evident in a summary provided by Westpac which outlines the present status of its BT Life Insurance brand whose retention, according to the summary, remains &#8216;Under Consideration&#8217;.<\/p>\n<p>The BT life insurance business forms part of Westpac\u2019s Specialist Businesses Division, with the bank having previously stated that it is not the natural long-term owner of the businesses residing in this division.<\/p>\n<figure id=\"attachment_55738\" aria-describedby=\"caption-attachment-55738\" style=\"width: 1121px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/riskinfo.com.au\/news\/files\/2021\/05\/210503-BT-Profit-Result.png\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-55738 size-full\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2021\/05\/210503-BT-Profit-Result.png\" alt=\"\" width=\"1121\" height=\"792\" srcset=\"https:\/\/riskinfo.com.au\/news\/files\/2021\/05\/210503-BT-Profit-Result.png 1121w, https:\/\/riskinfo.com.au\/news\/files\/2021\/05\/210503-BT-Profit-Result-300x212.png 300w, https:\/\/riskinfo.com.au\/news\/files\/2021\/05\/210503-BT-Profit-Result-1024x723.png 1024w, https:\/\/riskinfo.com.au\/news\/files\/2021\/05\/210503-BT-Profit-Result-768x543.png 768w, https:\/\/riskinfo.com.au\/news\/files\/2021\/05\/210503-BT-Profit-Result-696x492.png 696w, https:\/\/riskinfo.com.au\/news\/files\/2021\/05\/210503-BT-Profit-Result-1068x755.png 1068w, https:\/\/riskinfo.com.au\/news\/files\/2021\/05\/210503-BT-Profit-Result-594x420.png 594w, https:\/\/riskinfo.com.au\/news\/files\/2021\/05\/210503-BT-Profit-Result-100x70.png 100w\" sizes=\"auto, (max-width: 1121px) 100vw, 1121px\" \/><\/a><figcaption id=\"caption-attachment-55738\" class=\"wp-caption-text\">Source: Westpac Group 2021 Interim Results Presentation &amp; Investor Discussion Pack &#8230;note references to higher life insurance income and claims ratio comparisons<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Westpac has reported its BT Life Insurance business delivered a $72 million profit in its 1H 2021 results. The result, for the six months to 31 March 2021, appears to have been built from two critically important factors, being: Lower claims experience Higher retention rates for in-force policies While the profit number in 1H 2021 [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":55729,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48],"tags":[],"class_list":["post-55727","post","type-post","status-publish","format-standard","has-post-thumbnail","category-company-news"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/55727","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=55727"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/55727\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/55729"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=55727"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=55727"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=55727"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}