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Life insurer Zurich to buy life insurance business of Macquarie Group

Life Insurer Macquarie Group has announced that it is entered into an agreement to sell it’s life insurance Business to Zurich Australia Ltd. The transaction is subject to regulatory approvals, however it is expected to be completed in the second half of 2016, and Macquarie Life staff will transfer to Zurich as part of the acquisition. Greg Ward, Head of Macquarie’s Banking and Financial Services Group said: “Macquarie Life is a well performing business and has been recognised by the industry

Women still lagging men in life insurance

Australian women are less ikely to hold life insurance than men, according to research by Australia’s largest life insurer, TAL, released ahead of International Women’s Day on 8 March Life insurer TAL discovered 47% of women hold some form of financial protection, compared to 57% of men. Women significantly lag behind men in each of the four forms of life insurance, life, disability, income insurance and critical illness cover[1]. At the same

Life Insurer AMP Reports Profit

Life Insurer AMP Reports Profit AMP Limited has reported a net profit of A$884 million for the full year to 31 December 2014, up 32 per cent on A$672 million reported for FY 13. Chief Executive Craig Meller said: “An increase of 23 per cent in underlying profit reflects a strong result in our domestic franchises of wealth and investment management, targeted offshore expansion and improving performance in our wealth protection business. In Australian wealth management, operating earnings for FY 14 were

TAL Australians Attitude To Life Insurance

  Life Insurer TAL asked 1,266 Australians about their attitude to life insurance, they used the information to create the TAL Australian Financial Protection Index. The key results include: A 38% increase in the amount of respondents said that felt they were “Fully insured and  feeling covered” Over the last year the level of cover has increased The 39-49 year old age bracket has the highest level of protection Home owners with a

Coles Life Insurance

New competitor in Australian Life Insurance market Coles has joined their competitor Woolworths (WOW ASX) in the life insurance market. The Coles product rolled out in June is backed by Wesfarmers (WES ASX) Insurance and Metlife (MET NYSE). They are offering Life Insurance with stepped or level premiums,  discount for flybuy members and the chance to earn extra flybuys

Bendigo Bank to offer a bank branded life insurance from AIA

        Life insurer AIA has developed a direct life insurance product that will be distributed by Bendigo Bank. The product will be offered over the next 5 years through branches and online on the banks website. It will carry the Bendigo Bank brand. Bendigo’s previously partnered with The National Mutual Life Association of Australasia Ltd a member of the AMP Group.   Follow Us     Please note Quotesonline Insurance

Changes at TAL Australia’s Largest Life Insurer

  Duncan Boyle TAL Australia The Chair of Australia’s largest Life insurer TAL, Rob Thomas has today announced the appointment of two new directors to the TAL Board. Experienced non-executive director and former insurance executive Duncan Boyle and long-standing Dai-ichi Life group senior executive Norimitsu Kawahara today formally became TAL Board directors. Dai-ichi Life senior executive Tatsusaburo Yamamoto has stepped down as a director to take up a new role in Tokyo within the Dai-ichi Life group. Mr Thomas said: “I welcome both

Life Insurer TAL Record Payout

    New figures show that Australia’s leading life insurance specialist TAL paid out more than $843 million in claims last year, a massive increase of 45% over the previous year’s payout of $580 million. Of the different forms of life insurance, those taken out to help people while still living account for the majority of the payments, while a payment in the event of death now accounts for just 47.5% of

5 Ways To Save On Your Life Insurance In Australia

  Life insurance premiums are on the rise again and Australians are still under insured. So we look at ways to save on your Life Insurance 1) Stop smoking Smokers can pay double the premium, and the money saved from not buying the cigarettes will pay for your premium. (You will still be considered a smoker for at least 12 months after giving up) 2) Shop around Use or a broker to get quotes from a

Changes at AMP Australia’s Largest Life Insurer

AMP Australia’s largest life insurer has announced that chairman Peter Mason will retire in May after 8 years at the head of the insurers board. He will be replaced by former Macquarie Group executive Simon McKeon. Under Mr Mason’s chairmanship AMP merger with AXA created Australia’s largest life insurer. AMP also annouced that former Aviva excutive Trevor Matthews will join the Board as a non-executive director. Dr Nora Scheinkestel has also announced her intention

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