TAL bucks weaker earnings trend
Dai-ichi Life has released results showing life insurer TAL's FY13 profit after amortisation and discount rate changes, for the year ended March 31, was up 14% on FY12, to $123m against a background of...
View ArticlePeople
Vero has appointed Randy Pietersz senior underwriter to develop the marine portfolio in the broker market. He comes to the role from 20 years with Associated Marine ... Financial services minister Bill...
View ArticleEditorial team
Editor: Eva Wiland. Email eva.wiland@thomsonreuters.com. Contributing editor: Kate Tilley. Journalist: Nicole Sosnowski. Managing Editor: Helen Jones. Product code: 134001819
View Article(Re)insurers ‘not there yet' on risk
APRA will require insurers to establish board risk committees and appoint independent chief risk officers (CRO) in newly proposed risk requirements. At the Actuaries Institute biennial summit this week...
View ArticleGood leadership ‘tackles adversity'
Good leadership from many is needed to recover from adversity, TAL CEO/MD Jim Minto told the summit (above) . He cited November 2002's disastrous 50% Tower share price plunge as an example of how...
View ArticleSlight shifts in Qld CTP market
Allianz's Qld CTP market share has grown since 2008-09, but the insurer says premium ceilings “stymie” the market's profitability. Qld Motor Accident Insurance Commission (MAIC) statistical data for...
View ArticleBusiness ‘need risk registers'
In an environment of increased volatility, frequency and cost of Australia's insurable events, businesses should consider robust, dynamic risk registers, Oamps Brisbane branch manager James Ewin told a...
View Article‘If it ain't broke', leave policy as is
FoFA guidelines have largely bypassed general insurance brokers, except for the best interests duty, Brisbane-based The Fold Legal solicitor director Charmian Holmes says. “[That means] from July 1 ......
View ArticlePeople
National life advice dealer group Affinia has expanded in the risk advice market with Sitparan Gnanendran 's appointment as national manager, advice.
View ArticleInsurers' systems ‘need upgrade'
NSW's proposed compulsory third party (CTP) changes, introduced into parliament on May 9, will require extensive and highly technical changes to insurers' operational systems, ICA says. The Motor...
View ArticleCourt grants Suncorp consolidation
AAI Ltd will underwrite all Suncorp Group general insurance (GI) policies from July 1, after the Federal Court approved the insurer's plans to merge its five GI licences into a single licence. The...
View ArticleAPRA focuses on data integrity
APRA's latest Insight report on super, released this week, focuses on data integrity in the lead-up to July 1, when registrable super entities' (RSE) licensees are required to use new data and...
View ArticleRACQI to release phone records
Qld Supreme Court has ruled RACQ Insurance must hand over phone records that could reveal when a road incident occurred. Cyclist Gary Cameron suffered a traumatic brain injury in May 2008 after his...
View ArticleAPRA reports super performance
The latest APRA figures show over the year to March 31, total estimated super assets, including SMSF assets and the balance of life office statutory funds, were up 13.5%, to $1.58tr. Over 3Q13, assets...
View ArticleSuper funds face near record results
Australian super funds are poised to deliver a near record FY13 result to Australian super members after adding another 2% in earnings in April, the latest SuperRatings figures show. After the ninth...
View ArticleDiary
May 28, Brisbane; June 4, Sydney; June 5, Melbourne: Elevista broadform liability policy workshops. Facilitator, Barry.Nilsson partner Robert Samut. Go to www.elevista.com.au May 28, Melbourne; May 31,...
View ArticleEditorial team
Editor: Eva Wiland. Email eva.wiland@thomsonreuters.com. Contributing editor: Kate Tilley. Journalist: Nicole Sosnowski. Managing Editor: Helen Jones. Product code: 134001820
View ArticleLongevity risk capital ‘underutilised'
Challenger Life CEO Richard Howes told an Actuaries Institute summit ( CN 1820 ) the capital life companies held against longevity risk was largely underutilised because of confusion in the market. The...
View ArticleLife growing but margins falling
Despite Austalia's high in-force premium growth, industry profits were not strong and many insurers failed to meet the required rate of return on capital, Experien Insurance CEO Clive Levinthal told...
View ArticleGood profit - a long-term question
Schroders CEO Gary Cooper told a panel session (above) discussing bad and good profit, creating value for shareholders, including institutional shareholders, eg insurers and super funds, meant...
View Article
