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Southern Cross to review communications after debacle over withdrawn benefit

Southern Cross says it is reviewing the way it communicates changes it makes to the policies it offers following the revelation that many insurance agents were unaware it withdrew a $60,000 a year benefit in late 2020.

Tue, Sep 26th 2023 10:33AM

FSC won't comment on Nat plan to scrap Cofi

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Heartland says big banks use scale to block competition

3 min read

FMA aware of but won't comment on Southern Cross benefit removal

2 min read

Industry researchers also in the dark on Southern Cross benefit

Others in the health insurance industry had been unaware that Southern Cross had removed its non-surgical hospitalisation benefit.

4 min read

Industry researchers also in the dark on Southern Cross benefit

Nikko looks to be slightly defensive

Nikko Asset Management has a “slightly more defensive tilt” to its share portfolio at present, focusing on companies with a high degree of revenue certainty as well as ones that can achieve earnings growth in the current environment, according to Michael Sherrock, co-head of equities.

2 min read

Other health insurers are much more generous than Southern Cross

While Southern Cross quietly withdrew its non-surgical hospitalisation benefit in 2020, other health insurers continue to offer far more generous cover than the $60,000 benefit – but they mostly aren't rushing to tell GoodReturns about it.

3 min read

Other health insurers are much more generous than Southern Cross

Dire economic outlook should be positive for bonds: Nikko

The worse the economy is, the more positive it is for investors in fixed interest, and “it's looking pretty dire at the moment,” according to Fergus McDonald, head of bonds and currency at Nikko Asset Management.

2 min read

Dire economic outlook should be positive for bonds: Nikko

Tough times ahead for NZ economy: British economist

Australia continues to be the lucky country but the New Zealand economy is in for a tough time, according to British-based economist Andrew Hunt.

2 min read

Tough times ahead for NZ economy: British economist

Southern Cross says it told advisers, policyholders of withdrawn benefit

Southern Cross Health Society has acknowledged it removed a $60,000 a year benefit for non-surgical hospitalisation from its policies but is claiming it advised both advisers and policyholders of the change.

3 min read

Southern Cross says it told advisers, policyholders of withdrawn benefit

Pepper buys HSBC's NZ home loans book

Pepper Money says it has bought HSBC's New Zealand mortgage book which is expected to have outstanding balances of about $1.4 billion when the transaction settles, expected in late November.

2 min read

Southern Cross drops $60k benefit by stealth: agents

Insurance advisers are discovering that Southern Cross quietly dropped a $60,000 a year benefit for non-surgical hospitalisation without telling either advisers or Southern Cross policyholders.

3 min read

Southern Cross drops $60k benefit by stealth: agents

Debt consolidation helps drive Heartland reverse mortgage business

Heartland Bank debt consolidation is one of the reasons behind the growing loan balances in its New Zealand reverse mortgage book.

3 min read

Debt consolidation helps drive Heartland reverse mortgage business

Heartland's reverse mortgages grow at more than 20%

Heartland's reverse mortgage businesses grew at more than 20% in the year ended June, the fastest of all its operations.

2 min read

Heartland's reverse mortgages grow at more than 20%

nib NZ expects its insurance to be resilient in the face of rising cost of living

nib New Zealand is expecting that the types of health and related life insurance won't be something households hard-pressed by the rising cost of living will want to cut from their budgets.

3 min read

nib NZ expects its insurance to be resilient in the face of rising cost of living

nib NZ cites rising rates and costs as challenges after lifting profits 36.8%

nib New Zealand chair Tony Ryall says meeting the demands of an aging population and consumer who expect better health outcomes is challenging amid rising interest rates and increasing cost pressures.

2 min read

nib NZ cites rising rates and costs as challenges after lifting profits 36.8%

Kernel losses mount with growth but break-even is on the horizon

Kernel Wealth is reporting rising annual losses but its fee income rose 52.2% in the year ended March.

3 min read

Kernel losses mount with growth but break-even is on the horizon

House prices stabilised earlier than RBNZ expected

House prices stabilised earlier than the Reserve Bank was expecting which is one of the reasons why the central bank raised slightly its forecast track for its official cash rate (OCR), it says in its latest monetary policy statement.

2 min read

House prices stabilised earlier than RBNZ expected

RBNZ says bank margins are falling on swith to term deposits

The Reserve Bank is happier with how the banks are responding to changes in monetary policy than it was, governor Adrian Orr told parliament's finance and expenditure committee.

2 min read

RBNZ says bank margins are falling on swith to term deposits

RBNZ expects lower growth and unemployment but higher CPI

While the Reserve Bank's monetary policy committee left its official cash rate (OCR) unchanged at 5.5%, it has raised its forecasts from the first quarter of 2024 through to the September quarter of 2026, implying the OCR will stay at current levels for longer.

3 min read

RBNZ expects lower growth and unemployment but higher CPI

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Jenny Ruth

Stories written by multiple reporters.

Followers will be emailed articles by Jenny Ruth