In this episode of the Daily Financial Services News Wrap, Paige Estritori discusses a potential slowdown in the Australian insurance sector following a decade of high profitability, with return on equity expected to drop from 19% to around 13%. Slowing premium growth is also evident across the sector. Despite this, the Australian insurtech scene is thriving, with startups seeing significant growth and a 30% revenue increase for firms earning between $1-10 million per year. Consumer confidence in Australia saw a downward trend due to rising inflation concerns. Finally, the ASX follows a directive from the ASIC to reduce its dividend payout ratio, indicating company directors would need to navigate these changes carefully. An essential summary of key happenings within the insurance, finance, and superannuation sectors.

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