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Insurance

Life insurers keep breaking their own rules: Report

ANDREW MCKEAN  |  TUESDAY, 1 APR 2025
Breaches of the Life Insurance Code of Practice (the Code) increased for a fourth consecutive year, with life insurers reporting 14,670 instances of non-compliance, a 19% increase from the previous period.

Insurance in super remains a mystery to millions of Australians

ANDREW MCKEAN  |  FRIDAY, 28 MAR 2025
There is still millions of Australians paying for default insurance cover through their superannuation that they don't know about or understand, according to Super Consumers Australia (SCA).

Insurance through superannuation stages a comeback

ANDREW MCKEAN  |  TUESDAY, 4 MAR 2025
After years of decline, the number of superannuation fund members with insurance is on the rise.

ClearView Wealth's profit bleeds 22% in HY25

MATTHEW WAI  |  FRIDAY, 28 FEB 2025
ClearView Wealth's profit took a blow with its underlying net profit after tax (UNPAT) down 22% to $15.2 million in the six months to 31 December 2024, saying the slump was due to an "aberration" in the claims experience in the first quarter of FY25.

Annuities' capital settings due for change: APRA

KARREN VERGARA  |  FRIDAY, 28 FEB 2025
APRA's proposal to overhaul capital requirements for annuities is touted to be the most significant change for life insurers in more than a decade.

Life insurers enhance domestic violence response

MATTHEW WAI  |  THURSDAY, 20 FEB 2025
The Council of Australian Life Insurers (CALI) released new best practice guidance on family and domestic violence that sets new benchmarks for life insurers to better understand and engage with victim-survivors.

Treasury consults on genetic test ban in life insurance

JAMIE WILLIAMSON  |  WEDNESDAY, 12 FEB 2025
The industry can now provide feedback on the proposed ban on the use of adverse genetic test results in life insurance.

Resolution Life completes NZ$410m life business transaction

MATTHEW WAI  |  MONDAY, 3 FEB 2025
Resolution Life's trans-Tasman life insurer, Resolution Life Australasia, has completed the acquisition of Asteron Life New Zealand.

Colonial First State completes group insurance review

JAMIE WILLIAMSON  |  THURSDAY, 12 DEC 2024
Following a review of its group insurance arrangements, Colonial First State (CFS) has renewed its mandate with AIA.

MLC Life and Resolution Life Australasia to merge

ELIZA BAVIN  |  WEDNESDAY, 11 DEC 2024
The merger, which also includes a rebrand, is set to create one of the largest life insurance businesses in Australia.