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| | | The coronavirus pandemic has wiped out $1.4 billion from the books of life insurers and triggered a spike in claims, according to new research. KPMG's 2020 Life insurance insights reveals close to half of the firms it analysed are making a loss. ... |
| | | | ... financial buffers to spend and invest. "One of the many unique features of this recession is that it has been associated with a big increase in household saving," Lowe said. "Normally in a recession, income falls and many people draw on their savings ... |
| | | | ... the banks out of wealth... We've got two institutions in AMP and IOOF left," he said. While Whereat acknowledged that the big banks getting out of financial advice was not necessarily a negative for the industry, he said there are advantages to being ... |
| | | | ... 2020 quarter and 19.8% in the June quarter - the highest it's ever been since 46 years. Household spending accounts for a big chunk - around 60% -- of the Australian economy and their propensity to either spend or save would, in the main, influence ... |
| | | | Following a comprehensive review, Westpac is choosing to hone its focus on Australia and New Zealand, consolidating its international operations into just three branches. Having reviewed its Asia, Europe and US businesses, Westpac will now move forward ... |
| | | | Global banks have paid out around US$10.5 billion in fines so far this year, with Westpac taking out third place thanks to the AUSTRAC scandal. The research, provided by Finbold, listed the top 10 biggest fines paid by global banks with US institutions ... |
| | | | ... country that is critical and has been held in such high esteem over many decades," O'Neill said. "AMP, like all of the big providers, is critical to the economic wellbeing and social wellbeing in the services it provides to Australia. "We need it ... |
| | | | After having previously been placed on hold, the single disciplinary body for financial advisers and the compensation scheme of last resort is set to be legislated by mid-2021. Speaking at the 2020 Association of Financial Advisers Vision Conference ... |
| | | | ... society and the environment alongside financial performance and that this will help them better navigate turbulent times, avoid big risks and capture more opportunities. |
| | | | ... with a total of $1.6 trillion in assets to be delegated to managers between 2002 and 2017. They found two factors played a big role in how pension funds choose managers: pre-hiring investment returns/performance and pre-existing personal connections ... |
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