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Showing 381 - 390 of 1610 results for "Prudent"

APRA takes action against Westpac

JAMIE WILLIAMSON  |  TUESDAY, 1 DEC 2020
The prudential regulator has launched action against Westpac over material breaches of liquidity standards. The breaches, which were identified during 2019 and 2020, relate to the incorrect treatment of specific funding and loan products for the purposes ...

Life insurance performance plummets

ANNABELLE DICKSON  |  FRIDAY, 27 NOV 2020
The life insurance industry has continued to take a hit to profit, with risk products reporting significant losses. The Australian Prudential Regulation Authority's (APRA) latest quarterly life insurance performance statistics paint a bleak picture ...

ClearView streamlines underwriting

KARREN VERGARA  |  WEDNESDAY, 25 NOV 2020
ClearView Wealth has adopted Munich Re's digital platform to streamline the underwriting process and manage compliance obligations. ALLFINANZ Cloud, which was launched by Munich Re in 2019, will provide the cloud-based underwriting rules engine to speed ...

APRA reduces CBA capital requirement

ANNABELLE DICKSON  |  FRIDAY, 20 NOV 2020
The Australian Prudential Regulation Authority (APRA) has made the decision to reduce Commonwealth Bank's additional capital requirement by half after improving governance concerns. The $1 billion capital add-on has been halved to $500 million with ...

APRA eases hard caps in revamped executive pay

KANIKA SOOD  |  THURSDAY, 12 NOV 2020
A new draft of APRA's remuneration guidelines has scrapped its original plan to cap financial measures' contribution to executives' variable remuneration at 50%. Instead the boards will be able to assign a "material weight" to how much of ...

Retail super offerings in successor fund transfer

JAMIE WILLIAMSON  |  MONDAY, 2 NOV 2020
The successor fund transfer of another OneVue-administered retail super offering and all its sub-plans is set to commence later this month. Following on from its decision to transfer LESF Super to Smartsave earlier this year, OneVue's Diversa is pushing ...

Crestone revenue up 12% to $120.5m

KANIKA SOOD  |  MONDAY, 2 NOV 2020
Crestone Wealth Management reported revenue of $120.5 million for FY20, as it added $1 billion in net new client money and nine new advisers during the year. The high-net-worth-focused advice firm had an EBIT of $10.8 million, down from $11.5 million ...

IOOF appoints executive, continues growth push

ELIZA BAVIN  |  THURSDAY, 29 OCT 2020
... I are committed to delivering on the value realisation opportunities these transformational acquisitions present, in a prudent and timely manner," Mota said. "This has meant ensuring we have the people, capabilities and accountabilities to support the ...

Ask and you shall receive

ELIZA BAVIN  |  MONDAY, 26 OCT 2020
The latest APRA data for the government's Early Release of Super (ERS) reveals that 98% of applications received by the Australian Taxation Office (ATO) have been paid out by funds. The prudential regulator said that as at October 18, 98% of the applications ...

QInsure ramps up claims technology

KARREN VERGARA  |  THURSDAY, 22 OCT 2020
QSuper's insurance arm has upgraded its systems in an effort to streamline the claims management process. QInsure has moved from FINEOS's Claims system to the Claims SaaS edition on the Dublin-based firm's platform. The insurance claims ...