Fidelity Life have announced the appointment of Craig Winterburn as GM Retail Sales & Key Partnerships, a newly-created role. Fidelity are still working through the recruitment process for a new Chief Distribution Officer.
AMP RPP are introducing a new multi-benefit discount for new business which launches on the 20th of February. If the client has two 'eligible' benefits, a 5% discount applies and if they have three or more a 10% discount applies. Where an existing discount applies, such as the 15% IP discount when $350,000 Life Cover is taken, the higher of Multiple Benefit Discount and the existing discount applies.
From AMP's media release on support for youth skills development:
AMP New Zealand Managing Director, Blair Vernon says AMP is delighted to be partnering with Youth Town and the CFFC to empower young New Zealanders by sharing knowledge and skills that will make a real difference in their lives in a fun, interactive and engaging way.
“Sometimes financial aspects of life can be boring, tedious or just don’t make sense for young people, but it’s important they have the opportunity to learn how decisions they make today can affect their financial wellbeing for years to come.
“Getting to grips with the basics, like how a financial plan works or the importance of saving, will put them in a great position to achieve their financial goals in the future – like going to university or buying a house,” says Mr Vernon.
The financial capability workshop is part of the Prime Minister’s Youth Programme, being implemented by Youth Town, on behalf the Ministry of Social Development.
This paper on diversity, with a focus on gender, is interesting. Not only does it point out the familiar statistics, it notes gradual improvement, and explores the main obstacles to more equality. The part I like the best is the explanation of bias based on two modes of thinking. This looks a lot like the difference between thinking fast and slow, the title subject of Daniel Kahnemann's book which also happens to be my favourite non-fiction book of the year.
Australia's third largest life insurer in Australia has said they expect to take a A$668 million charge on its wealth protection business. 'The company also announced a reinsurance deal with one of the world’s largest reinsurers, Munich Re, to cover 50 percent of A$750 million of annual premium income as it seeks to “reduce the magnitude of earnings volatility” and release an estimated A$500 million in capital. The deal is expected to cut the unit’s annual profits by A$25 million from fiscal 2017, AMP said in a statement Friday.'
We will blog separately on each of the changes in detail so that you can see exactly what has happened, but this note is just to alert you that the following companies and products have had rate changes applied over the long weekend:
AIA has increased health insurance rates
AMP - RPP range, has changed life rates
Southern Cross health insurance rates will change in November