Australian Unity offloads banking business | Financial Standard
Nov 6, 2024 · Australian Unity has announced the sale of its banking business to Bank Australia, with the transfer set to be complete in late 2025. Under the agreement, Bank Australia will acquire Australian Unity banking customers and their existing loans, credit cards and deposit accounts, which at 30 June 2024 sat at approximately 25,000 customers, $1.4 billion in loans and credit, and $1.6 billion in ...
ESSSuper shifts members to new default option | Financial Standard
Oct 21, 2024 · ESSSuper is moving members in its default investment option to the newly launched Balanced Growth Managed option.. Members currently in the Balanced option will move to the Balanced Growth Managed option for Accumulation Plan and beneficiary accounts on November 22 unless they inform the super fund otherwise.
Permanent disablement claims for mental health explodes
Dec 5, 2024 · Total and permanent disability (TPD) claims because of mental health for Australians aged 30 to 40 increased by 732% over the past decade, according to a new report by KPMG, commissioned by the Council of Australian Life Insurers (CALI).
The productivity bubble has burst: Productivity Commission
Dec 19, 2024 · The Productivity Commission will deliver its reports to the government at the end of next year. Robson, however, said "it's not all doom and gloom," noting that today's economy, is in some ways, stronger than the pre-pandemic period, particularly in the jobs market, which has experienced higher labour force participation and lower unemployment.
MLC Life and Resolution Life Australasia to merge
Dec 11, 2024 · Nippon Life president Hiroshi Shimizu said the deal aligns with the company's intentions to continue to grow in the Australian life insurance industry and emphasised the merger's benefits for Australian consumers. "This merger demonstrates our commitment to delivering innovative products, exceptional service, and leading customer experiences in the Australian life insurance market," Shimizu said.
Australian economy on the up in 2025: Vanguard | Financial …
Jan 10, 2025 · Vanguard expects Australia's Gross Domestic Product (GDP) will gradually recover and increase by 2% in 2025 after experiencing its slowest growth rate in 32 years during 2024. Vanguard said this improvement will come despite the overhang of sticky inflation and elevated interest rates. Additionally ...
Trustee valuation processes 'concerning': APRA review
Dec 17, 2024 · Many superannuation trustees have been told they must improve their valuation governance practices, with APRA finding just 11 have dedicated valuation committees while others involve staff members whose remuneration is tied to asset values in the process.
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ANZ, OnePath settle $50m class action | Financial Standard
Oct 4, 2024 · ANZ and OnePath superannuation customers may be entitled to get their super back after Slater and Gordon secured a $50 million class action settlement.
Invest Blue expands offering with new acquisition
Dec 17, 2024 · Invest Blue - part of Ironbark Group - has announced the acquisition of wealth protection and estate planning provider Lambert Group. Lambert Group has a client portfolio of 700 families, coupled with a strong referral network and an experienced team, Invest Blue said.