After seven natural catastrophes across Australia and NZ in 1H20 and three subsequent Australian events in January, Suncorp group CEO Steve Johnson has urged governments, communities and the industry to work together to tackle climate change effects.
AMP sheds 47% of profit
AMP Ltd has reported a 46.6% slump in underlying FY19 profit on FY18, to $485m, which it said reflected a “challenging environment in Australian wealth management, offset by strong earnings in AMP Capital and resilient AMP Bank performance.
Wilkins leaves AMP Ltd to become QBE chair
The QBE Insurance Group board has elected Mike Wilkins to succeed Marty Becker as group chair from March 1.
ASIC finds some PYSP communications lacking
ASIC has found some super trustees’ member communications lacking about changes introduced through the Treasury Laws Amendment (Protecting Your Superannuation Package) Act 2019 (PYSP).
FSC suggests changes to APRA's insurance in super proposal
Financial Services Council (FSC) says it broadly supports APRA’s proposed changes to the insurance in super framework, including changes responding to the financial services royal commission’s recommendations.
Choice's TPD junk policy claim based on old data, ignores code of practice improvements: FSC
Financial Services Council (FSC) has refuted consumer advocate Choice’s and its partner advocate Super Consumers Australia’s (SCA) super figures and their claim total and permanent disability (TPD) policies in super are nothing but junk, saying Choice’s figures are based on out-of-date 2016-17 data that ignore “significant” improvements after the Life Insurance Code of Practice came into force.
Public hearings start for bushfire inquiry
The House of Representatives Standing Committee on the Environment and Energy will start public hearings for its inquiry into vegetation and land management relating to bushfires.
