AMP has posted a solid result for the six-months to June 30, as it prepares for the change in life insurance taxation rules next year. Managing director warns there is pressure ahead, especially in the distribution space.
AMP Financial Services has reported a five percent lift in operating earnings for the six months ending June 30 June. The $59.4 million result has been driven by increasing profit margins.
Profit margins for the period were $60 million; up 8% compared to the same period last year. This margin growth was primarily driven by a reduction in controllable costs and an increase in assets under management...MORE»
Thursday, August 21st, 9:17AM
Friday, August 15th, 11:53AM
Sovereign has reported a solid result for the 12 months to June 30 and says new products and the adviser channel are going well.MORE»
Shadow shares cost Partners Life Group Holdings $900,000 in the most recent financial year, its group financial statements show.MORE»
Partners Life has had a $7.8 million dollar turnaround in its results and reported a $2.85 million loss for the 12 months to March 31, compared to a $4.97 million profit in the previous year.MORE»
Financial advice group Lifetime has grown to 55 advisers after the purchase of Wellington firm Red Risk.MORE»
Direct insurance sales are no threat to the adviser force, Partners Life’s Naomi Ballantyne says.MORE»
Getting clients to buy TPD can be a bit of a struggle. At least, to judge from the in-force premium statistics, at just $40 million premium out of more than $1.5 billion of in-force premium it is tiny.MORE»