Insurance

Roberto Scenna, the CEO who oversaw the windup of Catholic Church Insurance, has been named as the next chief executive of Defence Bank. read more

• John Kavanagh

A provider of commercial property lease bonds underwritten by a global insurer says it is starting to build momentum in a market dominated by banks issuing guarantees.  eGuarantee was launched three y.. read more

• John Kavanagh

Shine Lawyers has filed a class action in the Federal Court alleging that Aussie Home Loans sold junk insurance to up to 30,000 customers. read more

• John Kavanagh

The sale of Challenger Ltd’s banking subsidiary to Heartland Group was expected to be completed by the end of June 2023, but yesterday Challenger disclosed that the transaction will not be completed u.. read more

• John Kavanagh

Shine Lawyers announced that it is investigating a potential class action on behalf of people who bought Aussie Home Loans Mortgage Protection Plan policies. read more

• John Kavanagh

Bank and insurance company customers trust their financial institution with their data and are comfortable with the data being used to provide more personalised offerings. read more

• Banking Day staff

Scores of fire and general insurers operating in New Zealand have been found deficient and some ordered to start customer remediation after an FMA report found widespread conduct and culture issues. read more

• John Kavanagh

Community legal centres have slammed the Treasurer’s decision to exempt a large number of products from the new deferred sales model for add-on insurance, saying the move badly weakens the reform reco.. read more

• John Kavanagh

The customer owned banking sector’s own watchdog has found ongoing problems with the way customer owned banks are handling CCI issues. read more

• John Kavanagh

Commonwealth Bank expects to add around A$400 million to its common equity tier 1 capital ratio, a nine basis point increase, from the sale of CommInsure General Insurance. read more

• Ian Rogers

CUA will release a significant amount of capital with the sale of its health insurance business to Perth-based HBF. read more

• John Kavanagh

Westpac has agreed to settle a class action relating to life insurance premium payments and faces a payout of as much as A$30 million. read more

• Ian Rogers

The sale of consumer credit card insurance by Westpac to a handful of customers sees the bank back in court, sparring with ASIC. read more

• Ian Rogers

Credit write-offs were three times as high in 2020 at $12.4 billion over 2019 – and if the GFC is any guide, the bad debt charge for banks in 2021 will be the same again, only worse. read more

• Banking Day staff

ANZ New Zealand has been slapped with a NZ$280,000 fine by the High Court in Auckland for misleading customers over credit card insurance. read more

• Tom Ravlic

Accounting for insurance contracts is going to be shaken up and the corporate regulator is giving companies, their directors and others early warning about the impact of the accounting standard. read more

• John Kavanagh

NAB will sell its New Zealand life insurance business, BNZ Life, to NZ life insurer Partners Life. read more

• John Kavanagh

The China Banking and Insurance Regulatory Commission has approved the sale of Commonwealth Bank’s 37.5 per cent stake in BoCommLife to MS&AD Insurance Group, the parent of Mitsui Sumitomo Insuran.. read more

• John Kavanagh

The Customer Owned Banking Code Compliance Committee has raised concerns about privacy breaches and the sale of consumer credit insurance. read more

• George Lekakis

Westpac has sold its general insurance arm to Germany’s Allianz group. read more