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Showing 81 - 90 of 376 results for "Annuities"

UK insurer fined for annuity sales failings

ELIZA BAVIN  |  TUESDAY, 1 OCT 2019
... been hit with a £24 million (AU$43.6 million) fine after failing to advise customers they may receive a better deal on annuities if they shopped around. The Financial Conduct Authority said Prudential failed to ensure that customers were "consistently ...

Board addition strengthens strategic relationship

ELIZABETH MCARTHUR  |  MONDAY, 26 AUG 2019
... increase its Challenger shareholding to over 15% of issued capital and Challenger commenced reinsurance of US currency annuities issued by Mitsui Sumitomo Primary Life. Kobayashi is director and managing executive officer (corporate planning, risk management ...

Japanese insurer gets Treasury tick to up Challenger stake

KANIKA SOOD  |  MONDAY, 19 AUG 2019
... transactions in association with business expansion. Challenger Life started by providing provide Australian-dollar annuities to Mitsui Sumitomo Primary Life Insurance Company (a subsidiary of MS&AD). In March this year, they entered a new agreement ...

Fidante loses $3.9bn of super fund assets

KARREN VERGARA  |  TUESDAY, 13 AUG 2019
... the strong foundations of our business to drive the next phase of growth. These initiatives support our goal to make annuities a mainstream option in retirement by promoting bottom-up customer demand for our products, and better supporting advisers to ...

Advice software firm appoints sales lead

KRISTI CHENG  |  WEDNESDAY, 31 JUL 2019
... trusting adviser relationships," citing examples of successful product launches over many years with cash, superannuation, annuities, and more recently in the managed accounts space, for institutions including Macquarie Bank and Challenger. "He will ...

Standard Life Assurance fined for hawking non-advised annuities

KARREN VERGARA  |  WEDNESDAY, 24 JUL 2019
... Standard Life Assurance has been slapped with a £30.8 million ($54.9m) fine by the UK regulator for hawking non-advised annuities. The Financial Conduct Authority found SLA offered its call centre staff "significant bonuses and rewards" if they exceeded ...

Macquarie Capital appoints group co-heads

KANIKA SOOD  |  FRIDAY, 3 MAY 2019
... lower brokerage income as Macquarie realigned its wealth advice business to focus on the high-net worth segment. The annuities style business was the most profitable part of the business, making up more than half of the net profit for FY19. This was ...

Technical Services Forum: Keep advisers informed of change

HARRISON WORLEY  |  THURSDAY, 11 APR 2019
... the clients individual circumstances, Lowe said in many cases periods were less than five years for deferred lifetime annuities. "And if I look to the limited number that we have actually had invest in this particular product [deferred lifetime annuities] ...

TAL goes back-to-back at AFA awards

HARRISON WORLEY  |  MONDAY, 18 MAR 2019
... recognised the life insurance sector for its contribution to the advice profession, with life insurance companies and annuities providers from across the industry acknowledged for enabling advisers to provide security to their clients. "We believe it ...

Amendments to retirement income law assent

HARRISON WORLEY  |  MONDAY, 11 MAR 2019
... the development of new innovative income streams, such as deferred income streams and pooled investment pensions and annuities, which would also support the development of CIPRs. According to the bill's explanatory memorandum, the changes will amend ...