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Westpac sells life insurance business to TAL

The sale of Westpac Life Insurance Services sees the bank’s exit manufacturing life insurance products and would release capital back to the bank. ....

Jason Yetton , Brett Clark , Westpac Life Insurance Services , Australian Securities Exchange , Life Australia , Westpac Life ,

Westpac sells life insurance business for A$900m

Westpac sells life insurance business for A$900m
international-adviser.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from international-adviser.com Daily Mail and Mail on Sunday newspapers.

Jason Yetton , Ross Mcewan , Westpac Life Insurance Services , National Australia Bank , Tal Dai Ichi Life , ரோஸ் அம்கூவாந் , வெஸ்ட்பேக் வாழ்க்கை காப்பீடு சேவைகள் , தேசிய ஆஸ்திரேலியா வங்கி , சிட்டி குழுமம் ,

Major bank settles class action for $30m

Major bank settles class action for $30m
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A big four bank has agreed to pay up to $30 million, without any admission of liability, to settle a class action relating to life insurance.
In 2017, class action specialists Shine Lawyers commenced a class action against Westpac Banking Corp (Westpac) alleging that the bank charged its customers more interest on life insurance policies than they would have been able to access from independent financial advisers.
According to the law firm, Westpac and its subsidiaries St.George, Bank of Melbourne, BankSA and BT customers were allegedly charged either 4.3 per cent and/or 9.09 per cent more for insurance policies taken out with Westpac Life Insurance Services Ltd between 2011 and 2017 than they would have been charged if they obtained the same insurance via independent advisers. ....

Jan Saddler , Westpac Life Insurance Services , St George Bank , Westpac Banking Corp , Shine Lawyers , Federal Court , ஜான் சாட்லர் , வெஸ்ட்பேக் வாழ்க்கை காப்பீடு சேவைகள் , ஸ்டம்ப் ஜார்ஜ் வங்கி , வெஸ்ட்பேக் வங்கி கார்ப் , பிரகாசிக்கவும் வழக்கறிஞர்கள் , கூட்டாட்சியின் நீதிமன்றம் ,

Banking giant settles class action for A$30m

After it was accused of ‘unfairly overcharging’ clients for life insurance products
Australian banking giant Westpac has agreed to settle a class action lawsuit that has been ongoing since October 2017.
According to the firm, the case relates to “premiums paid for certain insurance policies taken out with Westpac Life Insurance Services between 2011 and 2017”.
The lawsuit by Shine Lawyers alleged the bank’s advisers “unfairly overcharged” clients for life insurance products.
Westpac will pay a settlement capped at A$30m (£17m, $23m, €19m) which is subject to approval by the federal court of Australian.
But the group said it has “resolved this matter without any admission of liability”. ....

Westpac Life Insurance Services , St George Bank , Shine Lawyers , Westpac Life , வெஸ்ட்பேக் வாழ்க்கை காப்பீடு சேவைகள் , ஸ்டம்ப் ஜார்ஜ் வங்கி , பிரகாசிக்கவும் வழக்கறிஞர்கள் , வெஸ்ட்பேக் வாழ்க்கை ,

Westpac settles life insurance class action

Westpac settles life insurance class action
Westpac settles life insurance class action
The major bank has settled a class action filed against it by Shine Lawyers relating to the mis-selling of overly expensive insurance products by its aligned advisers.
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In a statement, Westpac said it had agreed to settle the action relating to “premiums paid for certain insurance policies taken out with Westpac Life Insurance Services Limited between 2011 and 2017”.
The bank said the settlement was capped at $30 million and remained subject to approval by the Federal Court.
The class action, previously reported on by ifa in August last year, was filed by Shine in 2017 and relates to customers who were sold life insurance by Westpac, BankSA, St.George Bank, Bank of Melbourne and BT Advice. ....

Sarah Kendell , Jan Saddler , Westpac Life Insurance Services , St George Bank , Westpac Life Insurance Services Limited , சாரா கெண்டெல்ல் , ஜான் சாட்லர் , வெஸ்ட்பேக் வாழ்க்கை காப்பீடு சேவைகள் , ஸ்டம்ப் ஜார்ஜ் வங்கி , வெஸ்ட்பேக் வாழ்க்கை காப்பீடு சேவைகள் வரையறுக்கப்பட்டவை ,