- What the Genetic Testing Shift Could Mean for Key Person Insurance
Australia’s life insurance sector is moving closer to a major change in how genetic information is treated during underwriting. The Federal Government has been progressing a legal ban on the use of adverse genetic test results in life insurance assessments, replacing the industry’s current self-regulated approach with stronger consumer protections.
- Life Insurance Complaints Highlight the Value of Claims-Ready Cover
Australia's latest financial complaints trends are a timely reminder that life insurance is not just about the premium on the page.
- New Regulator Expectations Put Insurance Affordability Back in Focus
The Federal Government’s updated expectations for APRA and ASIC have introduced a fresh regulatory backdrop for Australia’s life insurance sector, with a stronger emphasis on productivity, innovation, competition and proportionate oversight.
- What Canstar’s 2026 Life Insurance Ratings Mean for Key Person Cover
Canstar’s latest 2026 life insurance research has put fresh numbers around a familiar pressure point for Australians: premiums are still rising, even if the increase is relatively modest. Based on Canstar’s direct life insurance rating work, average life insurance costs were reported to be $14.60, or 0.
- Final Life Code Review Puts Mental Health Cover Under the Spotlight
The final independent review of the Life Insurance Code of Practice has landed with a substantial reform agenda for Australian life insurers, including recommendations that could reshape how mental health cover, claims handling and premium communication are managed in future policies.
- Claims Delay Sanction Puts Life Insurance Service in Focus
The Life Insurance Code Compliance Committee has sanctioned an unnamed life insurer after claim handling failures left some customers waiting more than eight months for decisions.
- Rising Delays in Income Protection Payments Concern Regulators
Recent findings from the Life Insurance Code Compliance Committee (Life CCC) have revealed a concerning 67% increase in violations related to the timely payment of income protection benefits during the 2024-25 financial year.
- Innovative TPD Insurance Products Aim to Improve Affordability
In response to mounting sustainability pressures and the increasing prevalence of mental health-related claims, several life insurers have introduced innovative Total and Permanent Disability (TPD) insurance products designed to enhance affordability and long-term viability.
- AFL Players to Lose TPD Insurance Coverage for Brain Injuries
In a significant development affecting Australian Football League (AFL) players, Zurich Insurance has announced changes to its Total and Permanent Disability (TPD) insurance coverage, specifically excluding claims related to brain injuries, including concussions and Chronic Traumatic Encephalopathy (CTE), effective from May 1, 2026.
- APRA's New Capital Framework to Boost Retirement Income Products
The Australian Prudential Regulation Authority (APRA) has finalised amendments to its prudential standards concerning the capital treatment of longevity products, including annuities.
- APRA and ASIC Highlight Urgent Need for TPD Insurance Reforms
In a recent roundtable discussion, the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) emphasised the pressing need for life insurers to address sustainability challenges within the Total and Permanent Disability (TPD) insurance market.
- Surge in TPD and Disability Claims Fuels Life Insurance Disputes
Recent data from the Australian Prudential Regulation Authority (APRA) indicates that Total and Permanent Disability (TPD) and disability income insurance claims account for 88% of all life insurance disputes. This trend highlights the increasing complexity and volume of claims, particularly those related to mental health conditions.
- Hostplus and MetLife Australia Renew Group Insurance Partnership
Hostplus, a leading Australian superannuation fund, has announced the extension of its group insurance partnership with MetLife Australia until June 2028. This renewal signifies a continued commitment to providing comprehensive insurance coverage to Hostplus members.
- Regulators and Insurers Collaborate to Enhance TPD Insurance Sustainability
The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) recently hosted a roundtable discussion with senior executives from 19 insurers and reinsurers to address the sustainability challenges facing the Total and Permanent Disability (TPD) insurance market.
- Rising Delays in Income Protection Payments Concern Regulators
Recent findings from the Life Insurance Code Compliance Committee (Life CCC) have revealed a concerning 67% increase in violations related to the timely payment of income protection benefits during the 2024-25 financial year.
- APRA Reports Significant Increase in Life Insurance Underwriting Profits
The Australian Prudential Regulation Authority (APRA) has released data indicating a substantial rise in underwriting gains within the life insurance sector for the December quarter of 2025. The industry recorded an underwriting gain of $279 million, a significant increase from $36 million in the corresponding period of the previous year.
- Swiss Re Suspends New Life Insurance Operations in Australia
Swiss Re Life & Health Australia has announced a suspension of new life insurance business activities in the country, effective October 2025.
- Australian Life Insurers Develop Comprehensive Mental Health Action Plan
Australia's life insurers are set to develop a new industry action plan for mental health, aimed at supporting long-term affordability and industry sustainability while delivering greater clarity, fairness, and transparency for customers.
- HESTA's Initiative to Lower Insurance Fees and Strengthen Member Benefits
HESTA, a prominent Australian superannuation fund, has unveiled a series of changes aimed at making insurance cover more accessible and affordable for its members. Effective from 1 July 2026, these changes include an average 12% reduction in insurance fees across all cover types.
- Challenger's Record Annuity Sales Drive Strong Half-Year Performance
Challenger, a leading Australian wealth management firm, has reported an 11% increase in life sales, reaching $5.1 billion in the December half of the 2026 financial year. This growth is primarily attributed to record annuity transactions, underscoring the company's strategic focus on retirement income solutions.
- APRA's New Capital Framework for Longevity Products
The Australian Prudential Regulation Authority (APRA) has announced significant reforms to the capital treatment of longevity products, including annuities, aimed at strengthening the market for retirement income solutions. These changes are set to take effect on 1 July 2026.
- Zurich Australia's Strategic Acquisition of ClearView Wealth
In a significant move within the Australian life insurance sector, Zurich Financial Services Australia has announced its intention to acquire ClearView Wealth Limited. This acquisition, valued at approximately AUD 415 million, is set to bolster Zurich's presence in the market and expand its customer base.
- Insights from APRA and ASIC's 2025 Life Insurance Claims Report
The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) have jointly released the Life Insurance Claims and Disputes Statistics for the year ending December 31, 2025. This comprehensive report offers valuable insights into the performance and challenges within the Australian life insurance sector.
- Swiss Re's Strategic Pause on New Life Insurance Business in Australia
Swiss Re Life & Health Australia has announced a suspension of new life insurance business activities in the country, effective October 2025.
- Australia Enacts Ban on Genetic Testing in Life Insurance Underwriting
In a significant move to protect consumer rights, the Australian Parliament has passed the Treasury Laws Amendment (Genetic Testing Protections in Life Insurance and Other Measures) Act 2025. This legislation, enacted on 1 April 2026, prohibits life insurers from using genetic test results in their underwriting processes.
- AIA Australia Highlights Structural Challenges in Life Insurance Industry
AIA Australia CEO Damien Mu has raised concerns about the structural challenges facing the life and health insurance industries.
- Australian Life Insurers Under Review for Mental Health Disclosure Practices
Recent findings from the Life Insurance Code Compliance Committee (Life CCC) have highlighted ongoing concerns regarding how Australian life insurers manage applications involving mental health disclosures.
- APRA and ASIC Review Life Insurance Premium Practices Amid Policyholder Concerns
The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) have jointly reviewed life insurers' premium practices, focusing on the frequency and magnitude of premium increases.
- Australian Life Insurers Advocate for Evolution of Code of Practice to Meet Consumer Needs
Australian life insurers are advocating for the evolution of the Life Insurance Code of Practice to keep pace with regulatory changes and shifting consumer expectations. The Council of Australian Life Insurers (CALI) has emphasised the importance of the code in maintaining trust between insurers and the Australians they protect.
- Swiss Re Suspends New Life Insurance Operations in Australia
Swiss Re Life & Health Australia has announced a suspension of new life insurance business activities in the country, effective October 2025.
- Australian Life Insurers Achieve Significant Underwriting Gains in Q4 2025
The Australian life insurance sector has reported a substantial underwriting gain of $279 million for the December quarter of 2025, a significant improvement from the $36 million recorded in the same period the previous year.
- New Legislation Prohibits Genetic Test Use in Life Insurance Underwriting
The Australian government has introduced legislation that prevents life insurance companies from using adverse genetic test results in their underwriting processes. This move addresses concerns that genetic discrimination has discouraged individuals from undergoing preventive health screenings.
- Escalating Insurance Premiums Pose Challenges for Australian Retirees
Australian retirees are facing mounting financial pressures as insurance premiums continue to rise, driven by factors such as climate change and increased construction costs. These escalating expenses are particularly challenging for individuals on fixed incomes, potentially compromising their financial security.
- Regulatory Barriers Impede Growth of Life Insurance Advice in Australia
The Australian life insurance sector is facing significant challenges due to regulatory complexities that hinder the provision of risk advice. Industry leaders are calling for urgent reforms to address these barriers and unlock the full potential of financial advisers.
