Life insurance industry will need to be dragged kicking and screaming into reform

Mon, 04 Feb 2019

By Jenny Ruth Feb. 4 (BusinessDesk) - Financial Markets Authority chief executive Rob Everett was under-stating the case when he said the life insurance industry isn’t capable of making necessary changes on its own. Everett said the FMA had told the government that it hasn’t seen sufficient evidence of the industry’s willingness to change. “I don’t believe the industry will do it quickly enough or well enough, left to itself,” he told journalists last week. Given the life industry reaps premiums totalling $2.57 billion a year, some...

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