Members continue to empty super accounts

Super funds made payments to 129,000 members over the week ended August 2, APRA’s latest data on early release super show, bringing the total number of super member payments to about 3.9m. The total value of payments during the week was $1bn, $30.3bn overall since the scheme’s start on April 20.

Hannover Re expects major loss from Beirut explosion

It is “pretty certain” the August 4 explosion in Lebanon’s capital Beirut will be “a major loss” for Hannover Rück SE, S&P Global reports, quoting the reinsurer’s property and casualty head Sven Althoff.

AMP Aust boss quits

AMP Ltd has accepted the resignation of AMP Australia CEO Alex Wade and confirms Wade will step down immediately.

AMP’s earnings dive as class actions loom

AMP Ltd last Friday (July 31) provided an update on its 1H20 interim operating earnings, showing bruising effects from covid-19, including market volatility and a credit loss provision in AMP Bank.