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Weekly Life Insurance News Roundup

June 12th, 2012 | Posted by Editor in News

Ebix acquires Australian firm
Ebix, which provides on-demand software and e-commerce services to the insurance industry, has acquired Fintechnix, a supplier of web based straight through processing solutions to the Australian life insurance and wealth management sectors.

Life insurers pay out $4 billion in 2011
The 10 biggest life insurers paid out just under $4 billion in claims in 2011 – up 11.4 per cent from 2010, according to research conducted by The Risk Store. The amount of money paid out in claims has increased by 96 per cent since 2006, said Risk Store managing director Peter Wincott.

Insurance stamp duty scrapped
The ACT Government has announced a five-year phase out of stamp duties on general insurance products, starting on October 1 this year.
The announcement, contained in the ACT Budget, follows the recommendation of the ACT Taxation Review in May 2012 to abolish duties on general insurance and life insurance.

Asteron re-focuses group risk strategy
Asteron Life has updated its group risk strategy to move focus to the corporate superannuation fund and platform provider market. According to Asteron Life, group risk is an important part of its strategy to build distribution reach and capability in the independent financial adviser (IFA) market.

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