PIS leads life cover sales survey


Robbie Bennetts
Dealer group Professional Investment Services posted the highest insurance sales in Australia during the December quarter last year, according to a survey by NMG Financial Services Consulting (NMG).
The global consultant’s Risk Distribution Monitor survey revealed PIS sales during the quarter were $1.5 million ahead of nearest competitor ING dealer group Millennium3.
PIS chief executive Robbie Bennetts described the result as an “outstanding achievement”, considering insurance had only become part of PIS’ core repertoire after it bought IFMA from Norwich Union in 2000.
“It’s a credit to our team that in such a relatively short time frame we are a force to be reckoned with in the highly competitive life insurance market in Australia.”
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.