|Foreign companies continue to gain the lion's share of Australia's life insurance industry, with the recent sale of CommInsure and OnePath set to boost foreign ownership from less than half to 66%, KPMG research shows.|
|More than 240,000 life insurance policyholders switched provider in the 12 months to June 2018, while a further 766,000 considered switching.|
|Following a strategic review, Suncorp will sell its life insurance business to TAL.|
|Group insurers are finding themselves pressed for resources as they race to meet the Federal Government's July 2019 deadline to cull the default opt-ins for group insurance.|
|As My Health Record draws criticism and scrutiny, life insurers are cautious as to the merits of the initiative and its potential implications for the industry.|
|The Financial Services Council is launching a multi-million-dollar data project that will aggregate and distribute life insurance industry data.|
|Life insurer TAL is growing its portfolio of health-related education courses through its financial adviser training program.|
|Disability income insurance (DII) continues to be a loss-making venture for life insurers as the prudential regulator undertakes a comprehensive review of its sustainability, pricing and the actual benefits delivered to policyholders.|
|The banking and financial services Royal Commission has unearthed the unethical practices and incentives of life insurers selling policies over the phone at the expense of the most vulnerable customers living in remote communities.|
|Group insurance remains cost effective and beneficial for members, but there's significant disparity among premium rates and the level of cover superannuation funds are offering, latest Rainmaker research reveals.|
An advice licensee owned by HUB24 hired from BT Financial Group to fill a newly-created general manager role.
Futuro Financial Services has ended its partnership with AMP after seven years, becoming 100% privately-owned again.
Escala Partners is set to be acquired by a US-based wealth manager looking to expand its international footprint.
No RBA, growth in wages have remained stagnant - and that's just for the lucky few. The unlucky ones have, in effect, seen their incomes eroded by inflation (thank goodness prices haven't increased by much).
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