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  • An easier life for insurers, advisers, doctors

    Konnect Net’s SureMed® industry wide solution for collecting insurance policyholder’s medical information electronically has transformed the life insurance sector in New Zealand. Konnect Net is now poised to deliver similar benefits in the Australian[more]

  • Leaders Lecture Series: Gary Dransfield, CEO, Vero

    Advances in digital technology do not guarantee better customer service experiences in the insurance industry and leadership will be critical if the major players are to maintain their longstanding competitive advantages. Speaking at an AB+F Rands[more]

  • NZ Economy: A Key lesson for Swan

    New Zealand’s strengthening economy led to a smaller-than-expected budget deficit of NZ$6.3 billion in the fiscal year ending 30 June 2013, prompting many economists to draw comparisons with Australia.[more]

By the Numbers

US$3.8bn Citi reported 3Q net income of US$3.8bn or US$1.23/share, a top line result which was 74 per cent up on the prior corresponding period and 13 up on the last quarter.

From the Back Page

Americans choke on $1 coin stockpile

The UK newspaper The Telegraph reported recently that a mountain of 1.2 billion dollar coins is sitting unused in US government vaults because the American public is so attached to the traditional dollar bill. The US Mint has been producing vast numbers of the gold-coloured coins after being ordered to do so by Congress in 2005.

American taxpayers could save $500 million (A$524m) a year if they switched from paper dollars, which wear out quickly and must be replaced, to the more durable metal version, according to  the US government accountability office.

Yet demand from banks for the coins has been so low that US$1.2 billion worth – which cost US$300 million to manufacture – are sitting in storage, an investigation by National Public Radio found.

According to The Telegraph, opinion polls show that three-quarters of the American public say they would prefer to carry on using the paper dollar bill, affectionately known as the “greenback”, which celebrates its 150th birthday next year.

 

Comment: AB+F Blog

Two early for reform celebration: The one-year anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act passing into law rolled quietly by last month... [more]

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