Insurance News from Compare Life Insurance

Compare Life Insurance is pleased to present the latest financial news headlines.

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News items on this page are prepared by our editorial team as summaries of publicly available news reports and official announcements. See linked news sources where available. The following news items are for informational purposes only and are not independent journalism.

Insurance News

APRA's Updated Capital Framework: A Boost for Longevity Products

19 May 2026: Paige Estritori

The Australian Prudential Regulation Authority (APRA) has recently refined its capital framework for longevity products, including annuities, aiming to foster innovation and enhance financial security for retirees. This move is part of APRA's ongoing efforts to create a supportive environment for the development of products that provide Australians with stable income streams during retirement. - read more

Regulatory Review: Life Insurers' Progress on Premium Practices

19 May 2026: Paige Estritori

The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) have provided an update on their joint review of life insurance premium practices. This review was initiated in response to concerns that frequent and substantial premium increases may not align with policy terms or policyholder expectations. - read more

Zurich Australia's Strategic Acquisition of ClearView Wealth Limited

19 May 2026: Paige Estritori

Zurich Financial Services Australia (Zurich) has announced its intention to acquire ClearView Wealth Limited (ClearView) through a scheme of arrangement, valuing ClearView's equity at approximately AUD 415 million. This strategic move aims to strengthen Zurich's position in the Australian life insurance market. - read more

HESTA Announces 12% Reduction in Insurance Fees to Benefit Members

18 May 2026: Paige Estritori

HESTA, a leading Australian superannuation fund, has unveiled a significant reduction in insurance fees, aiming to make coverage more accessible and affordable for its members. Effective from 1 July 2026, the fund will implement an average 12% decrease across all insurance cover types, including death, total and permanent disablement (TPD), and income protection. - read more

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Grace Period:
A set amount of time after the premium is due during which a policyholder can make a payment without the insurance coverage lapsing.

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