Insurers News
Regulator Seeks Control Over Foreign Insurers
Tuesday May 17, 2005
The Australian Prudential Regulation Authority is looking to broaden its supervisory powers beyond stand-alone general insurers, putting conglomerates and foreign insurance companies under tougher scrutiny.Apra Seeks Wider Powers Over Conglomerates
Tuesday May 17, 2005
THE Australian Prudential Regulation Authority is looking to broaden its supervisory powers beyond stand-alone general insurers, in a move that will put conglomerates and foreign insurance companies under tougher scrutiny. Local conglomerates such as Wesfarmers and foreign insurance groups like Munich Re and Swiss Re could be forced to change their corporate structures to fit with APRA's proposed rules, outlined in a paper yesterday. At the same time, general insurers, with wholly owned ...Insurers Get Closer Scrutiny
Wednesday May 4, 2005
The prudential regulator plans to tighten the screws on financial reinsurance arrangements, amid investigations both here and in the US into companies that used the deals to falsify their accounts.Watchdog Turns Up Heat On Insurers
Wednesday May 4, 2005
APRA calls for tough new rules to prevent the falsification of reinsurance deals in company accounts