Insurance

Partners Life loses staff

Friday 26th of April 2013

In September last year, the insurer axed upfront medical commissions in favour of as-earned commissions, because it was getting higher volumes of medical insurance than expected.

A lack of reinsurance financing for medical insurance meant that commission payments had to come out of capital.

The company had been on track for $50 million in issue premium last year. “That’s too hot w...

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