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Showing 1 - 10 of 14 results for "CMLA"

CBA updates on class actions, governance review

ELIZA BAVIN  |  WEDNESDAY, 11 FEB 2026
... second superannuation class action was filed in 2020 again CFSIL and the Colonial Mutual Life Assurance Society Limited (CMLA). The class action alleges that CFSIL did not act in the best interests of members when it took out group insurance policies ...

Colonial First State, AIA agree $140m class action settlement

JAMIE WILLIAMSON  |  WEDNESDAY, 5 NOV 2025
... Lawyers in January 2020 against Colonial First State Investments Limited (CFSIL) and Colonial Mutual Life Assurance Society (CMLA), known as CommInsure and acquired by AIA Australia in 2017. The action alleged that CFSIL, as the superannuation provider ...

CBA sets aside $52m for remediation

ELIZA BAVIN  |  WEDNESDAY, 13 AUG 2025
... second superannuation class action was filed in January 2020 against CFSIL and the Colonial Mutual Life Assurance Society (CMLA) with AIA Australia joining as the third respondent in April 2021. The class action alleges that CFSIL did not act in the ...

Super, advice class actions dampen CBA results

KARREN VERGARA  |  WEDNESDAY, 15 FEB 2023
... its trustee duties when taking out group insurance policies obtained from Colonial Mutual Life Assurance Society Limited (CMLA). It is alleged that CFSIL entered and maintained insurance policies with CMLA on terms that were less favourable to members ...

Court orders new group definition in CBA advice class action

KANIKA SOOD  |  WEDNESDAY, 23 JUN 2021
Clients who claimed Commonwealth Bank financial advisers put them in expensive CMLA life insurance policies instead of cheaper alternatives have been asked to work to a new group definition. The group proceedings were filed by Diana Tyrrell and Edward ...

Premiums to increase at ESSSuper

ELIZABETH MCARTHUR  |  FRIDAY, 4 JUN 2021
... and an extension in the maximum age covered from 65 to 70. "The premium change is not due to a change in insurer. ESS and CMLA have had a strong relationship for over 20 years, which was renegotiated last year following a market tender. While AIA has ...

Colonial Super Retirement Fund rejigs managers

KANIKA SOOD  |  WEDNESDAY, 3 MAR 2021
Colonial Super Retirement Fund and CMLA options have made changes including external managers for nearly 45 options. The changes are effective April 2021 and apply to 19 products available via Colonial Super Retirement Fund and other products issued ...

Equity Trustees wins Colonial mandate

KANIKA SOOD  |  FRIDAY, 4 OCT 2019
... Superannuation Limited (ETFSL) will take over as the responsible superannuation entity for $4.5 billion of superannuation funds. CMLA will continue to be the administrator and life insurer for these funds. EQT Holdings managing director Mick O'Brien ...

CommInsure charged over hawking

HARRISON WORLEY  |  FRIDAY, 4 OCT 2019
... point out it ceased telephone sales of Simple Life insurance products issued by the Colonial Mutual Life Assurance Society (CMLA) - which trades as CommInsure - at the end of 2014. "These matters had been the subject of an investigation by the Australian ...

CommInsure sale stalls, sold for discount

KARREN VERGARA  |  FRIDAY, 23 AUG 2019
... Also as part of the revised agreement, CommInsure Life's main life insurance entity Colonial Mutual Life Assurance Society (CMLA) plans to enter into a reinsurance arrangement with a global reinsurer. CBA expects to receive a distribution from CMLA of ...
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