Fri, 19th Jul 2024

In the latest finance news, non-profit health fund HCF expands to include home and motor insurance products, partnering with global giant Allianz. The move was motivated by a survey showing 95% of HCF members aged 25 and older prefer affordable insurance – a service HCF and Allianz now provide. In banking, ANZ is set to acquire Suncorp's banking division in a $4.9 billion deal, a development enabled by a recent amendment to Queensland's legislative framework. Meanwhile, Spirit Super shifts to J.P. Morgan for custody and fund administration services, a move aligning with an expected merger with CareSuper. Lastly, The Australian Prudential Regulation Authority faces scrutiny from Australian Greens over financial ties between industry super funds and trade unions, signaling an increased demand for transparency in the Australian finance landscape.n