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Insurance

Life insurance balancing APRA priorities with increased profit

ALEX BURKE  |  WEDNESDAY, 18 MAY 2016
Despite the need to increase capital adequacy ratios, the life insurance industry has reported a steady increase in net profit, according to APRA's latest quarterly statistics for the sector.

Life insurers paid $6.9bn in claims in 2015

MARK SMITH  |  WEDNESDAY, 11 MAY 2016
Mainstream life insurance companies paid out a total of just over $6.9 billion in claims in 2015, according to figures from The Risk Store.

TAL launches online policy upgrade service

ALEX BURKE  |  WEDNESDAY, 4 MAY 2016
TAL has launched an online service to allow paperless upgrades of life, TPD and critical illness insurance policies.

Narev defends CommInsure record, wrote to five customers

ALEX BURKE  |  THURSDAY, 28 APR 2016
CBA chief executive Ian Narev has defended his company's life insurance arm in a letter to Senator Chris Ketter, noting he wrote to five affected customers recently.

Sunsuper overhauls TPD cover

DARREN SNYDER  |  TUESDAY, 26 APR 2016
Sunsuper has overhauled its total and permanent disability (TPD) insurance cover in a move that will see an average premium reduction of 15% for more than 90% of its one million members.

Challenger annuities march on

MARK SMITH  |  FRIDAY, 22 APR 2016
Challenger's annuity business has continued its charge with sales of $575 million in the quarter ending March 31.

Govt change could spell more severe LIF bill: FPA

KERRIE SYDEE  |  THURSDAY, 21 APR 2016
A change in government could impact the severity of the recently lapsed Corporations Amendment (Life Insurance Remuneration Arrangements) Bill 2016, according to Financial Planning Association of Australia (FPA) chief executive officer Dante De Gori.

Commissions survive as life remuneration bill flatlines

ALEX BURKE  |  TUESDAY, 19 APR 2016
The Corporations Amendment (Life Insurance Remuneration Arrangements) Bill 2016 has lapsed due to prorogation, leaving the future of risk adviser remuneration unclear.

Life Insurance Risk Market inflows up 6.6%

KERRIE SYDEE  |  FRIDAY, 8 APR 2016
Overall life insurance risk market inflows continued to climb but at a slower rate in 2015, up 6.6% from $14.4bn to $15.4bn according to research from Plan for Life.

Berkshire-owned Gen Re to close Melbourne office

ALEX BURKE  |  MONDAY, 21 MAR 2016
Berkshire Hathaway Insurance's Gen Re will close its Melbourne office and several other operations as part of a global property and casualty business restructure.