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Insurer invokes financial hardship policy

ELIZA BAVIN  |  MONDAY, 11 MAY 2020
... be flexible in dealing with consumers' specific circumstances." The regulator said in circumstances where a consumer is not able to pay premiums due to financial hardship stemming from COVID-19 the industry is expected to help consumers keep key ...

Chief economist update: Bad news is good news is back

BENJAMIN ONG  |  MONDAY, 11 MAY 2020
... 2000 indices remain 6.3% and 15.6% (respectively) lower than a year ago, the S&P 500 (up 1.6%) and the Nasdaq (up 14.8%) are not losing investors money. What gives? What gives, of course, is the Fed and Trump's largesse. The White House is currently ...

AMP defends hefty remuneration bill

ELIZABETH MCARTHUR  |  FRIDAY, 8 MAY 2020
... the $13.4 million figure published in the annual report is the statutory disclosure of De Ferrari's remuneration and is not what he was actually paid in 2019. Last year De Ferrari received $4 million in fixed remuneration and short term incentives. ...

FASEA extension to pass next week

ELIZABETH MCARTHUR  |  FRIDAY, 8 MAY 2020
... both parties agree it should pass. FPA head of policy and standards Ben Marshan said that during the webinar, which could not be attended by media, confirmation of the extension was welcomed by those listening. "In these challenging days it is critical ...

Superannuation fund appoints co-founder

KANIKA SOOD  |  FRIDAY, 8 MAY 2020
... the chief operations officer in 2018 and moving up to managing director and board member in 2018. Future Super, which does not invest in fossil fuels, has about $1.44 billion in total assets across its superannuation and investment business on behalf ...

ASIC delivers thinly veiled warning

ELIZABETH MCARTHUR  |  FRIDAY, 8 MAY 2020
... on ads. "ASIC views these investment products as riskier than term deposits because they may be issued by entities that are not well-capitalised, not protected by the Government's Financial Claims Scheme, and not supervised by the Australian Prudential ...

AMP Capital ups jail stake

HARRISON WORLEY  |  FRIDAY, 8 MAY 2020
... sector, backed by its asset and investment specialists. We are delighted to see that the strong support from our investors has not been impacted by the market volatility due to the stable and defensive nature of these projects. "We are looking forward ...

ERS paused as AFP investigates fraud

ELIZA BAVIN  |  FRIDAY, 8 MAY 2020
... super funds, as the AFP investigates identity theft. Speaking to Sky News this morning, Sukkar emphasised that the ATO has not been compromised and said the investigation is around one confirmed case of identity theft. "It has been referred to the AFP ...

Opportunity for the brave: High yield credit

ALLY SELBY  |  FRIDAY, 8 MAY 2020
... represents an attractive opportunity," Mitchell said. Diversification is also key to an effective bond portfolio, he said. "It is not a great idea to construct a portfolio consisting of only a few bonds because if one defaults it can wipe out all of ...

AMP NZ wealth divestment off

ALLY SELBY  |  FRIDAY, 8 MAY 2020
AMP will no longer divest its New Zealand wealth management business, after it did not receive any offers that met the company's expectations. It also pointed to the economic and market disruption caused by the COVID-19 pandemic as a reason for ...