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Showing 11 - 20 of 27 results for "Individual Disability Income Insurance"

Risk inflows stay flat

ANNABELLE DICKSON  |  WEDNESDAY, 3 FEB 2021
... Risk products reported a $216 million loss over the quarter with a $318 million loss to individual disability income insurance partially offset by a $35.5 million net profit in group disability income insurance and $162.9 million profit in individual ...

Life insurance performance plummets

ANNABELLE DICKSON  |  FRIDAY, 27 NOV 2020
... Risk products reported a $216 million loss over the quarter with a $318 million loss to individual disability income insurance partially offset by a $35.5 million net profit in group disability income insurance and $162.9 million profit in individual ...

Level premiums to remain

ANNABELLE DICKSON  |  THURSDAY, 15 OCT 2020
... the Australian Prudential Regulation Authority's (APRA) intervention to try and salvage individual disability income insurance, level premiums will continue to exist. Speaking on a panel at the Association of Financial Advisers Conference, MLC chief ...

APRA resumes life insurance intervention

ELIZABETH MCARTHUR  |  WEDNESDAY, 30 SEP 2020
... resume its intervention into the life insurance market to stem ongoing heavy losses in individual disability income insurance. APRA announced its intervention in December last year, highlighting flaws in individual disability income insurance product ...

More clarity on life insurance best interest duty needed: Research

ELIZA BAVIN  |  FRIDAY, 25 SEP 2020
... need cover may not be able to afford it in the future and life insurance companies selling individual disability income insurance policies will continue to suffer large losses. Laughlin said the sector must offer products that provide more certain outcomes ...

APRA intervention blindsided AFA, FPA taskforce

ELIZABETH MCARTHUR  |  TUESDAY, 28 JUL 2020
... financial advice industry associations admitted to being blindsided by APRA's intervention on individual disability income insurance. Association of Financial Advisers chief executive Phil Kewin and Financial Planning Association of Australia chief executive ...

COVID-19 deepens life insurer losses

KANIKA SOOD  |  FRIDAY, 29 MAY 2020
... their NPAT was -$1.6 billion compared to a loss of $94 billion. Within the risk universe, individual disability income insurance was the worst hit, reporting loss of $1.4 billion for year to March, compared to a loss of $782 million in the year ending ...

Calls for disability insurance reform

ELIZA BAVIN  |  MONDAY, 10 FEB 2020
... community, about future access to affordable DII cover," he said. The KPMG report said individual disability income insurance does not adequately support a policyholder's move back into work in Australia's modern economy and acknowledged increased concerns ...

Future of life insurance in doubt: APRA

ELIZABETH MCARTHUR  |  FRIDAY, 17 JAN 2020
... and challenges hampering profitability. "For a fifth straight year, the performance of individual disability income insurance worsened taking losses over that time to more than $3 billion," it said. The profitability of individual lump sum insurance ...

Life insurers lost $3.4b over five years: APRA

ELIZA BAVIN  |  TUESDAY, 3 DEC 2019
... intervention into the life insurance market in response to ongoing heavy losses in respect of individual disability income insurance. The regulator announced a series of measures, including capital charges, which will require life insurers to address ...