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Showing 1 - 10 of 78 results for "Nippon"

MLC Life appoints retail general manager

KANIKA SOOD  |  MONDAY, 8 MAR 2021
... Downey said. MLC Life Insurance received a $650 million capital injection just before Christmas, as its majority owner Nippon Life saw the risk of MLC Life's "stagnant" business performance continuing beyond 2021. MLC Life's ownership structure ...

MLC Life appoints transformation lead

JAMIE WILLIAMSON  |  THURSDAY, 28 JAN 2021
... ordinary equity and $120 million in subordinated debt with a roughly 10-year maturity. Its ownership remains the same, with Nippon Life subscribing to the $120 million debt alone. "It sets us up to survive and thrive in the coming post-pandemic environment. ...

MLC Life appoints executive

KANIKA SOOD  |  WEDNESDAY, 13 JAN 2021
... Rodney Cook, who joined in June last year. "Michael's appointment, in addition to the recent capital injection from Nippon Life and NAB, demonstrates that we are on the right path, despite the fast-changing operating environment we face," Cook said. ...

MLC Life Insurance raises $650 million

KANIKA SOOD  |  WEDNESDAY, 6 JAN 2021
The insurer received a $650 million capital injection just before Christmas, as its majority owner Nippon Life sees the risk of MLC Life's "stagnant" business performance continuing beyond 2021. The raise includes $530 million in ordinary equity, priced ...

MLC Life names new chief executive

JAMIE WILLIAMSON  |  THURSDAY, 4 JUN 2020
... insurance is. These are challenging times for all Australians and their life insurers," he said. "With the continued support of Nippon Life and NAB, and significant ongoing investment in our technology and processes, I aim to deliver outstanding service ...

AIA income protection premiums jump

ELIZABETH MCARTHUR  |  FRIDAY, 14 FEB 2020
... more customers have been required to pay for income protection over the last two years. Earlier this year, MLC Life owner Nippon Life reported to the Tokyo stock exchange that deteriorating conditions in the Australian life insurance industry are to ...

Argo Investments' profit plunges

ALLY SELBY  |  MONDAY, 3 FEB 2020
... Group. Argo fully exited its position in Automotive Holdings Group (taken over by AP Eagers), DuluxGroup (taken over by Nippon Paint) and Incitec Pivot, and sold holdings in Milton Corporation and Nufarm. These sales and takeovers brought in $65 million ...

MLC Life chief steps down

JAMIE WILLIAMSON  |  WEDNESDAY, 22 JAN 2020
... executive, its establishment as a standalone life insurer whilst separating from the National Australia Bank and joining the Nippon Life Insurance Group," MLC Life said. "This has been a complex and difficult task and has required enormous personal time ...

MLC Life Insurance under review

ELIZA BAVIN  |  TUESDAY, 7 JAN 2020
... is facing deteriorating profitability in relation to income protection products, according to MLC Life Insurance owner Nippon Life. The Japan-based majority shareholder of MLC Life purchased the business off National Australia Bank in 2015, though the ...

What you read in 2019: Financial advice

JAMIE WILLIAMSON  |  THURSDAY, 19 DEC 2019
... be identified. The legislation was tabled later in the year and passed both houses of parliament on October 14. 6. NAB, Nippon lock heads over MLC In May, it was revealed NAB and Nippon were struggling with agree on spinning MLC off as a standalone entity. ...
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