Major life insurers continue to sufferBY HARRISON WORLEY | THURSDAY, 23 JAN 2020 12:27PM
The hits keep coming for Australia's life insurance industry, with new data showing total risk premiums inflows dropped by more than $790 million in the 12 months to September 2019, as major players endured another tough year.
Read more: BT, CommInsure, Zurich, MLC, TAL, MetLife, Plan for Life, AIA, APRA
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Phil King's Regal Funds Management has returned money to external investors for one of its smaller funds, but will continue to run the strategy internally.
In a somewhat surprising move, banks are lifting some of their term deposit rates despite the Reserve Bank of Australia slashing the cash rate to an all-time low of 0.25% last week.
Pinnacle Investment Management's director of institutional sales is leaving the role for a $12.8 billion multi-boutique.
The major life insurer has confirmed several roles within its life insurance distribution team have been made redundant as a result of a restructure.
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