AIA Australia welcomes focus on insurance sustainability

From

Leading life insurer AIA Australia has welcomed the release of the Actuaries Institute work on the sustainability of disability income insurance, calling it “important and necessary”. This work has been followed by the release of APRA’s final sustainability measures and expectations of insurers, which AIA Australia supports and will be incorporating into its inflight project

continue reading

Actuaries Institute Taskforce finds broad changes needed to sustain disability income insurance market

From

An Actuaries Institute Taskforce has made sweeping recommendations for broad changes to Australia’s retail disability income insurance market to reset sustainability for a sector under threat. Taskforce Convenor Ian Laughlin said without an overhaul, those who need cover may not be able to afford it in the future and life insurance companies selling individual disability

continue reading

Actuaries Institute paper says financial institutions should measure their social condition

From

Highlights The Hayne Royal Commission showed institutions have failed to understand and manage relationships with society and their associated social risks. This has resulted in great reputational damage and loss of social capital for those institutions. ‘Social condition’ is as important as ‘financial condition’ to the success and sustainability of an institution. The authors propose

continue reading