After a 169 year history of providing life insurance in Australia, AMP has announced it will quit the sector. In a deal valued at $3.3 billion AMP has agreed to sell its Australian life insurance business to UK based Resolution Life effective June 30. The…
Even before the 2018 Royal Commission began, dramatic changes were afoot in the Australian life insurance market. Over the last three years there have been a spate of acquisitions and divestments which are set to radically change the ownership structure of the life insurance market…
Zurich and AIA have announced premium waivers for drought affected farmers. They join TAL and OnePath who introduced similar measures a month ago. All of these insurers have recognized the significant impact that the current drought is having on the livelihood and well-being of farmers…
The release of the ASIC Direct Life Insurance report and recent hearings at the Royal Commission have highlighted poor telephone sales practices and product design in the direct life insurance market which have led to poor consumer outcomes. Over 2017/18 ASIC examined the direct life…
Two life insurance companies, TAL and OnePath, have announced this week that they will waiver insurance premiums for farmers impacted by drought. TAL is offering a six-month premium waiver to farmers in drought affected areas of New South Wales and Queensland. To be eligible farmers…
TAL have announced that they have entered into an agreement with Suncorp to purchase its Australian life insurance business including Asteron Life. Suncorp has indicated that legally binding sale agreements are expected to be completed by the end of August with the total cost to…
AIA are offering an opportunity for new clients to try their Vitality health and well-being program for free for two years. Vitality offers a range of discounts and rewards for being physically active. Vitality members enjoy initial premium discounts of 12.5% for Life, TPD and…
The AFA and research company Strategic Insight have announced TAL as the winner of the 2017 Platinum Award for Life Company of the Year. The award recognizes excellence in the provision of Life insurance products and services to financial advisers and retail customers. Runner up…