Suncorp has nabbed CommInsure’s head of wholesale risk, Michael Back, to head its group risk business.
Back has been head of wholesale risk at CommInsure since 2005. He will join Suncorp as executive manager, group risk, in December, reporting to Suncorp executive general manager, life risk, John Croswell.
Back has more than 20 years' industry experience, including roles at AMP, Colonial and NSP Buck.
A statement from Suncorp said Back oversaw both market share and profit growth at CommInsure during his time with the group, with Suncorp Life group executive Geoff Summerhayes saying Back would play “a vital role” building on Suncorp’s position in the group risk market.
Large superannuation accounts may need to find funds outside their accounts or take the extreme step of selling non-liquid assets under the proposed $3 million super tax legislation, according to new analysis from ANU.
Economists have been left scrambling to recalibrate after the Reserve Bank wrong-footed markets on Tuesday, holding the cash rate steady despite widespread expectations of a cut.
A new Roy Morgan report has found retail super funds had the largest increase in customer satisfaction in the last year, but its record-high rating still lags other super categories.
In a sharp rebuke to market expectations, the Reserve Bank held the cash rate steady at 3.85 per cent on Tuesday, defying near-unanimous forecasts of a cut and signalling a more cautious approach to further easing.