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Stuck in the waiting room

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Working with doctors and administrators to improve the group insurance experience

Group insurance is coming of age in Australia. It was only a decade ago that the most group cover one could hope for from a personal statement (that is, not requiring any medical tests) was about $300,000. Today, that cover can be more like $1,000,000, and the form is a lot shorter to boot.

MICHAEL BAILEY looks at the work that super funds, their administrators and insurers have done to achieve such advances, and the technological and process enhancements that continue to be made in an effort to rouse Australians from their ambivalence towards death, total permanent disablement and salary continuance insurance.

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Stuck in the waiting room

by

Working with doctors and administrators to improve the group insurance experience

Group insurance is coming of age in Australia. It was only a decade ago that the most group cover one could hope for from a personal statement (that is, not requiring any medical tests) was about $300,000. Today, that cover can be more like $1,000,000, and the form is a lot shorter to boot. MICHAEL BAILEY looks at the work that super funds, their administrators and insurers have done to achieve such advances, and the technological and process enhancements that continue to be made in an effort to rouse Australians from their ambivalence towards death, total permanent disablement and salary continuance insurance.

Read more

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China Investment Corporation restructures and de-risks

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The China Investment Corporation (CIC) has taken the opportunity to reorganise its investment operations and focus on less risky investments. The fledgling sovereign wealth fund, founded in September 2007 with US$200 billion in foreign reserves to invest internationally, has scrapped its equity, alternatives and fixed income divisions and created four new arms to sit alongside the strategic asset allocation and research department and report to the chief investment officer, Gao Xiqing.


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China Investment Corporation restructures and de-risks

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The China Investment Corporation (CIC) has taken the opportunity to reorganise its investment operations and focus on less risky investments. The fledgling sovereign wealth fund, founded in September 2007 with US$200 billion in foreign reserves to invest internationally, has scrapped its equity, alternatives and fixed income divisions and created four new arms to sit alongside the strategic asset allocation and research department and report to the chief investment officer, Gao Xiqing.

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Pages: 1 2

Sunsuper appoints QIC to guard new pension strategy

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The $12 billion Sunsuper has appointed Queensland Investment Corporation (QIC) to provide capital protection for one of its investment options, called Retirement, as part of the ‘Today and Tomorrow’ pension strategy, which provides an up-front two year supply of cash while investing the remaining balance mostly in high income-yielding shares. The capital markets team at QIC, led by Troy Rieck, will use a range of options strategies to provide some protection against poor performance by Australian and US shares, the dominant growth assets in the Retirement product.


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Sunsuper appoints QIC to guard new pension strategy

by
Normal 0 false false false MicrosoftInternetExplorer4 st1:*{behavior:url(#ieooui) } /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:””; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:”Times New Roman”; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} The $12 billion Sunsuper has appointed Queensland Investment Corporation (QIC) to provide capital protection for one of its investment options, called Retirement, as part of the ‘Today and Tomorrow’ pension strategy, which provides an up-front two year supply of cash while investing the remaining balance mostly in high income-yielding shares. The capital markets team at QIC, led by Troy Rieck, will use a range of options strategies to provide some protection against poor performance by Australian and US shares, the dominant growth assets in the Retirement product.

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Pages: 1 2

Ironbark seeks alpha growers wanting retail leg-up

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Ironbark Asset Management, the retail distribution business which has just been formed by 14 former Deutsche Asset Management (DeAM) employees, is on the hunt for alpha generators with whom it will launch its own funds. The former head of retail distribution at DeAM, Chris Larsen, said he was looking forward to running a business for the first time, alongside cofounder Brendan Carpenter, a former chief operating officer at DeAM who crossed to Aberdeen when it purchased the German banks’ equity and fixed income businesses in 2007.


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Ironbark seeks alpha growers wanting retail leg-up

by
Normal 0 false false false MicrosoftInternetExplorer4 st1:*{behavior:url(#ieooui) } /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:””; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:”Times New Roman”; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} Normal 0 false false false MicrosoftInternetExplorer4 st1:*{behavior:url(#ieooui) } /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:””; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:”Times New Roman”; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} Ironbark Asset Management, the retail distribution business which has just been formed by 14 former Deutsche Asset Management (DeAM) employees, is on the hunt for alpha generators with whom it will launch its own funds. The former head of retail distribution at DeAM, Chris Larsen, said he was looking forward to running a business for the first time, alongside cofounder Brendan Carpenter, a former chief operating officer at DeAM who crossed to Aberdeen when it purchased the German banks’ equity and fixed income businesses in 2007.

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Pages: 1 2

Losses mount in Sydney’s letterbox ‘super scam’

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The ‘super scammers’ thieving personal financial information from Sydney letterboxes have stripped millions from members’ balances, and the amount is rising, according to the NSW police unit investigating the crime.“We’re talking seven figures, and it’s increasing,” Andrew Gill, detective senior constable with Strike Force Gamut of the Harbourside Police, the unit investigating the criminal syndicate accused of the crimes, said.


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Losses mount in Sydney’s letterbox ‘super scam’

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The ‘super scammers’ thieving personal financial information from Sydney letterboxes have stripped millions from members’ balances, and the amount is rising, according to the NSW police unit investigating the crime.“We’re talking seven figures, and it’s increasing,” Andrew Gill, detective senior constable with Strike Force Gamut of the Harbourside Police, the unit investigating the criminal syndicate accused of the crimes, said.

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Pages: 1 2

SSgA reassures investors on sec lending collateral

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State Street Global Advisors Australia (SSgA) has reassured investors in 13 of its trusts with exposure to securities lending, which have increased buy/ sell spreads and introduced redemptions mixing cash and collateral due to ongoing illiquidity in the asset-backed markets in which sec lending capital was invested. In a letter to clients following an I&T News article on the matter last month, SSgA senior managing director Rob Goodlad rejected investor protests made in that article that the collateral assets were “toxic”, saying there had been no impairments and that majority of the assets retained the AAA rating they had originally required.


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SSgA reassures investors on sec lending collateral

by
Normal 0 false false false MicrosoftInternetExplorer4 st1:*{behavior:url(#ieooui) } /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:””; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:”Times New Roman”; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} State Street Global Advisors Australia (SSgA) has reassured investors in 13 of its trusts with exposure to securities lending, which have increased buy/ sell spreads and introduced redemptions mixing cash and collateral due to ongoing illiquidity in the asset-backed markets in which sec lending capital was invested. In a letter to clients following an I&T News article on the matter last month, SSgA senior managing director Rob Goodlad rejected investor protests made in that article that the collateral assets were “toxic”, saying there had been no impairments and that majority of the assets retained the AAA rating they had originally required.

Read more

Pages: 1 2
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Investment Magazine provides in-depth, monthly analysis of trends and developments for all the businesses in which superannuation funds engage‚ including asset allocation, investment manager selection, custody and fund accounting, member administration, group insurance and compliance.

We acknowledge the Traditional Custodians of this land upon which Conexus Financial sits, the Cadigal of the Eora Nation. We recognise their continuing connection and unique cultural and spiritual relationships to the land, waters and community. We pay our deepest respects to them and their culture, and to Elders both past and present.

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