Financial Services

The Commonwealth Bank is offloading its general insurance business to the Hollard Group, which will then sell home and vehicle insurance to CBA customers.

Contentious superannuation laws which the government says will boost savings and cut fees have cleared parliament.

Stockbroking firms Canaccord Genuity and Euroz Hartleys have announced a raft of executive changes, including Chris Webster switching firms and Michael Manford taking a new role.

Australia's banking watchdog has written to the nation's banks, warning there are signs of some increased risk-taking as homebuyers rush to secure loans in a heated housing market.

Perth-based financial services group Sentry has merged with ASX-listed WT Financial Group.

ASIC has permanently banned Kim Hanson over the alleged misuse of $3 million of trust funds and confirmed it is continuing to investigate Australian Reliance Group.

The Commonwealth Bank has bought stakes in an online shopping group and power retailer as it tries to keep pace with innovative online rivals.

HBF's membership is set to exceed 1 million with the acquisition of CUA Health later this year.

Commonwealth Bank shares have traded for $100 for the first time since the bank joined the market in 1991.

Australia's biggest bank is continuing to ride the nation's post-recession economic recovery after posting another jump in earnings.

Investment group Macquarie has reported a 10 per cent rise in full-year profit, helped by its markets trading.

NAB has recorded a 94 per cent jump in first-half cash earnings to $3.3 billion, becoming the latest of the major banks to post a rebound in fortunes amid improving economic conditions.

ANZ has posted a sharp rebound in first-half profit and boosted its dividend, helped by a recovery among business customers and robust activity in the housing market.

Westpac is being sued for alleged insider trading, amid claims the bank unfairly profited from a $12 billion interest rate swap deal.

Westpac has posted a rebound in half-year earnings as an improving economy helped it dodge potential pitfalls and boosted activity in the key home loans market.

AMP chair Debra Hazelton has urged shareholders to be patient amid the transformation strategy that she expects will deliver long-term value.

Wealth manager AMP will spin-off and list one of its key business units after a potential sale fell through.

Afterpay has confirmed it is closer to listing on a US stock market after North America overtook Australia and New Zealand as the biggest region for sales.

The corporate watchdog says its investigations following the banking royal commission have so far resulted in $77.65 million in penalties.

The heads of Australia's two largest banks are more than happy to talk about how they are assisting customers who may still be suffering hardship after last year's recession.

The fate of AMP CEO Francesco De Ferrari has finally been revealed, a week after the wealth manager tried to hose down reports he was leaving.

AMP denies media reports that chief executive Francesco De Ferrari has resigned, but says he and the board are discussing the wealth manager's future leadership.

Treasurer Josh Frydenberg will make changes to the JobMaker hiring credit scheme after corporate leaders shunned the $4 billion program.

The nation's biggest bank, Commonwealth, will offer its own buy now, pay later service to customers from mid-year in a move to challenge Afterpay.

Financial regulator APRA has closed its investigation into Westpac's breaches of anti-money laundering and terror financing laws, but says it will make sure the bank improves its operations.

Major banks have thrown their support behind the Morrison government's post-JobKeeper scheme but some business groups are far from happy, with one labelling it "second-class support".

Insurer QBE has named the boss of UK insurer Beazley, Andrew Horton, as its next chief executive.

Afterpay is raising money to increase its stake in its US operations, on the same day it posted a first-half loss.

Australia's largest short-term lender has launched a nation-wide campaign to have changes proposed under a major overhaul of the National Consumer Credit Protection Act scrapped.

Insurer QBE has elected not to declare a final dividend, recording a statutory net loss after tax of $US1.5 billion ($A1.93 billion) following last year's $US550 million profit.

Westpac claimed first-quarter cash earnings were up 54 per cent and boss Peter King says there had been a significant increase in home loan applications.

Australia's securities regulator says it will seek penalties and other orders against Commonwealth Bank after the Federal Court found the country's top lender had overcharged interest to customers.