Australian Prudential Regulation Authority Archives - InsuranceAsia News https://insuranceasianews.com/companies_category/australian-prudential-regulation-authority/ Thu, 23 Oct 2025 09:39:23 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 Australia’s proposed reinsurance overhaul to turbo-charge ILS sector https://insuranceasianews.com/australias-proposed-reinsurance-overhaul-to-turbo-charge-ils-sector/ Wed, 22 Oct 2025 22:30:56 +0000 https://insuranceasianews.com/?p=202591 Changes would see a wide-ranging liberalisation of the reinsurance market, including an adjustment to reinstatement requirements, and a more light-touch approach.

The post Australia’s proposed reinsurance overhaul to turbo-charge ILS sector appeared first on InsuranceAsia News.

]]>

In a much-anticipated set of recommendations for the Australian reinsurance sector, which has faced some delay in coming out, the Australian Prudential Regulation Authority (APRA) has not disappointed...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post Australia’s proposed reinsurance overhaul to turbo-charge ILS sector appeared first on InsuranceAsia News.

]]> APRA targets promoting cost-effective reinsurance to general insurers https://insuranceasianews.com/apra-targets-promoting-cost-effective-reinsurance-to-general-insurers/ Thu, 21 Aug 2025 04:55:06 +0000 https://insuranceasianews.com/?p=198028 Australian regulator's 2025-26 corporate plan says it will release details on its proposals in the first half of FY26, and in the latter half, it will report the results of its climate vulnerability assessment for the general insurance sector.

The post APRA targets promoting cost-effective reinsurance to general insurers appeared first on InsuranceAsia News.

]]>

Australia’s prudential regulator, APRA, has identified promoting access to cost-effective reinsurance for general insurance as a strategic objective.
APRA’s 2025-26 corporate plan, released on Thursda...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post APRA targets promoting cost-effective reinsurance to general insurers appeared first on InsuranceAsia News.

]]> Opportunity knocks for Australia as regulator keeps (re)insurance market waiting over proposed major reforms https://insuranceasianews.com/opportunity-knocks-for-australia-as-regulator-keeps-reinsurance-market-waiting-over-proposed-major-reforms/ Sun, 27 Jul 2025 23:30:23 +0000 https://insuranceasianews.com/?p=196062 Relaxation of requirements by the Australian Prudential Regulatory Authority are set to provide a considerable boost to the alternative risk transfer sector.

The post Opportunity knocks for Australia as regulator keeps (re)insurance market waiting over proposed major reforms appeared first on InsuranceAsia News.

]]>

Nearly nine months after first launching a major consultation on reforms to the nation’s reinsurance sector, recommendations from the Australian Prudential Regulatory Authority (APRA) are still some m...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post Opportunity knocks for Australia as regulator keeps (re)insurance market waiting over proposed major reforms appeared first on InsuranceAsia News.

]]> Short-tail performance boost for Australia’s P&C carriers https://insuranceasianews.com/australias-general-insurance-cor-improves-to-85-6-in-q4-2024-profit-after-tax-almost-doubles-to-us1bn/ Mon, 03 Mar 2025 23:30:59 +0000 https://insuranceasianews.com/?p=177605 APRA data shows general insurance COR improves in Q4 2024, while profit after tax almost doubles to US$1bn.

The post Short-tail performance boost for Australia’s P&C carriers appeared first on InsuranceAsia News.

]]>

The net combined ratio for general insurance in Australia improved by 8.1 percentage points (pps) to 85.6% in Q4 2024 compared, with the 93.7% reported in Q4 2023, according to quarterly statistics re...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post Short-tail performance boost for Australia’s P&C carriers appeared first on InsuranceAsia News.

]]> Booming MGAs can no longer be ignored, but regulatory spectre looms https://insuranceasianews.com/booming-mgas-can-no-longer-be-ignored-but-regulatory-spectre-looms/ Wed, 08 Jan 2025 23:30:25 +0000 https://insuranceasianews.com/?p=173005 MGAs must demonstrate robust risk selection and underwriting capability as regulators train their guns on the sector.

The post Booming MGAs can no longer be ignored, but regulatory spectre looms appeared first on InsuranceAsia News.

]]>

You can’t say you haven’t been warned. Back in October, Suzanne Smith, executive board member at the Australian Prudential Regulation Authority (APRA), fired a clear warning across the bows during a r...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post Booming MGAs can no longer be ignored, but regulatory spectre looms appeared first on InsuranceAsia News.

]]> Hallmark Insurance’s parent St Andrew’s Australia Services get APRA nod as holding company https://insuranceasianews.com/hallmark-insurances-parent-st-andrews-australia-services-get-apra-nod-as-holding-company/ Tue, 05 Nov 2024 08:42:46 +0000 https://insuranceasianews.com/?p=169219 The registration allows the firm to oversee one APRA-authorised life insurer and one general insurer under the regulatory framework.

The post Hallmark Insurance’s parent St Andrew’s Australia Services get APRA nod as holding company appeared first on InsuranceAsia News.

]]>

The Australian Prudential Regulation Authority (APRA) has formally registered St Andrew’s Australia Services as a non-operating holding company, according to a statement issued by the authority.
The r...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post Hallmark Insurance’s parent St Andrew’s Australia Services get APRA nod as holding company appeared first on InsuranceAsia News.

]]> APRA applies additional US$6.6m capital requirement to Pacific International Insurance https://insuranceasianews.com/apra-applies-additional-us6-6m-capital-requirement-to-pacific-international-insurance/ Fri, 01 Nov 2024 03:57:57 +0000 https://insuranceasianews.com/?p=168961 The regulator identified fundamental deficiencies in Pacific’s oversight and control of its existing binder holder business and risk management framework, including weaknesses in accountability and adequacy of resourcing.

The post APRA applies additional US$6.6m capital requirement to Pacific International Insurance appeared first on InsuranceAsia News.

]]>

The Australian Prudential Regulation Authority (APRA) has applied an additional AU$10 million (US$6.6 million) capital requirement to Pacific International Insurance (Pacific), according to a regulato...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post APRA applies additional US$6.6m capital requirement to Pacific International Insurance appeared first on InsuranceAsia News.

]]> Australian intermediated premiums grow 8.2% in 2023-24 https://insuranceasianews.com/australian-intermediated-premiums-grow-8-2-in-2023-24/ Thu, 17 Oct 2024 23:30:56 +0000 https://insuranceasianews.com/?p=165069 While the GWP placed with Lloyd’s in the 12 months grew at a comparable pace, business placed with unauthorised foreign insurers declined marginally.

The post Australian intermediated premiums grow 8.2% in 2023-24 appeared first on InsuranceAsia News.

]]>

Showing a market in rude health, the total general insurance gross written premium (GWP) placed by Australian intermediaries during financial year 2024 ( July 2023 to June 2024) was up 8.2% over the c...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post Australian intermediated premiums grow 8.2% in 2023-24 appeared first on InsuranceAsia News.

]]> APRA urges carriers to reflect on MGA risks, prioritise 2025 prudential standards https://insuranceasianews.com/apra-urges-carriers-to-reflect-on-mga-risks-prioritise-2025-prudential-standards/ Thu, 17 Oct 2024 05:53:36 +0000 https://insuranceasianews.com/?p=165045 Executive board member Suzanne Smith said that a focus for the regulator in the coming year is the risk associated with outsourced underwriting to agencies.

The post APRA urges carriers to reflect on MGA risks, prioritise 2025 prudential standards appeared first on InsuranceAsia News.

]]>

APRA Executive Board Member Suzanne Smith has urged the insurers to prioritise the immediate changes regarding the upcoming new prudential standards and regimes in 2025 and reflect on risks associated...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post APRA urges carriers to reflect on MGA risks, prioritise 2025 prudential standards appeared first on InsuranceAsia News.

]]> Australian underwriters incur 23% lower public liability claims in 2023 https://insuranceasianews.com/australian-underwriters-incur-23-lower-public-liability-claims-in-2023/ Thu, 22 Aug 2024 23:30:58 +0000 https://insuranceasianews.com/?p=161067 Lloyd's public liability claims doubled and PI claims went up 13 times in the country in the last year while other insurers' PI claims were 9% higher year-on-year across all states, according to the 2023 claims data released by the Australian Prudential Regulation Authority.

The post Australian underwriters incur 23% lower public liability claims in 2023 appeared first on InsuranceAsia News.

]]>

Public liability gross claims incurred by Australian underwriters in 2023 accounted for AU$96.4 million (US$65 million) for AU$2.96 billion gross written premium (GWP), 23.5% lower than AU$128.4 milli...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post Australian underwriters incur 23% lower public liability claims in 2023 appeared first on InsuranceAsia News.

]]>