Zurich reveals internal shake-up
Zurich Australia has announced a shake-up to its life insurance and investment business which sees a key senior management position made redundant. Under the restructure, the position of executive general manager, investments will no longer exist, a role held by Matthew Drennan since last year.
Segmentation: Like insurance in the 80s
A financial services consultant has branded current bank strategies for broker market segmentation like the insurance channel of the 1980s. “Once again the banking channel is doing what the life insurance channel was doing in the 1980’s , working at winning the channel not the end customer.”
Wealth managers tighten belts
IT’S been described as ”the perfect storm” hitting professional wealth managers: market turmoil, regulatory challenges and a flight from investments to the safety of cash. Earnings from life insurance and income protection rose 56 per cent to $215 million, while earnings from AMP’s funds management arm fell slightly to $83 million.
New Specialist Risk Advisory Group Launched
A new advice group delivering specialist life insurance advice to individuals and businesses has been launched. The group, called Risk Advice Specialists, aims to provide appropriate life, trauma and disablement insurance cover for individuals, and to offer advice on life insurance as a component of estate planning and business succession planning.