Weekly Life Insurance News RoundupMay 27th, 2012 | Posted by in News
AIA adds superannuation payment option
Financial advisers will be able to offer clients a range of AIA’s priority protection products with payment through their superannuation following a range of upgrades announced by AIA.
Tower lifts first half profit 83pc
The insurer’s profit rose to $23.6 million in the six months ended March 31, from $12.9m a year earlier, the Auckland-based company said in a statement. Tower’s policy liabilities dropped to $671,000 in the period from $8.4m a year earlier, while revenue climbed 14 per cent to $295.7m.
Insurer warns life won’t get easier
THE boss of TAL Limited, one of Australia’s biggest life insurers, has issued a dour outlook for the economy, warning that consumer spending and business confidence across Australia will continue to deteriorate across the next 12 months.
AIA innovates around adviser feedback
Life insurance specialist AIA Australia has enhanced its Priority Protection product, expanding the product range to include a superannuation income protection option that will allow advisers to offer clients insurance within super
Devil is in the detail of new Stronger Super reforms
WHILE widely welcomed, the form of the Stronger Super reforms introducing default death and permanent incapacity insurance for regulated super fund members may create uncertainty for trustees and insurers negotiating benefit designs that best suit fund members.
TAL defies slow insurance market
TAL, the life insurer previously known as Tower Australia, has overcome a sluggish life insurance market to boost profit 25 per cent in its first full year since being acquired by Japanese financial services major Dai-ichi Life.
Life insurance profits and revenue fall, APRA data shows
LIFE insurance profits and revenue have fallen during the past year, with the latest government report revealing net profits across the industry were down 4 per cent, while revenue plunged 23 per cent.
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