Commonwealth Bank inflows recover

2 November 2009
| By Mike Taylor |

The Commonwealth Banking Group has revealed the degree to which it is benefiting from recovering investment markets, announcing solid inflows and a pick up in in-force insurance premiums.

The banking group told the Australian Securities Exchange (ASX) today that funds under administration had risen by 8.3 per cent in the September quarter to $190 billion, while funds under management had increased 6.8 per cent to $148 billion.

It said insurance in-force premiums for the quarter had risen by 2.1 per cent to $1,592 million driven by strong new business volumes in retail life and general insurance.

However, the bank data also revealed that its wholesale life in-force premiums had declined by 2.8 per cent.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 1 week ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 1 week ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 1 week ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

2 weeks 5 days ago

Having divested its advice business in August, AMP is undergoing restructuring in at least four other departments amid a cost simplification program....

2 weeks 2 days ago