trending Market Intelligence /marketintelligence/en/news-insights/trending/n1ub44MzJ2T869Jg1ufQTQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Australian regulator imposes higher capital requirement for Allianz Australia

Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools

2018 US Property Casualty Insurance Market Report


Fintech Funding Flows To Insurtech In February

Lemonade Growing Premiums Faster Than Esurance's Homeowners Business Did

Australian regulator imposes higher capital requirement for Allianz Australia

The Australian Prudential Regulation Authority will impose an additional A$250 million capital requirement to Allianz Australia Ltd. due to its heightened operational risk.

The regulator asked 36 banks, insurers and superannuation licensees to undertake a self-assessment in 2018 to gauge if the weaknesses it found through its inquiry into the Commonwealth Bank of Australia also existed in other institutions.

The regulator's analysis of the self-assessment confirmed that many of the issues it found were not unique to the Commonwealth Bank of Australia, which included a need to strengthen the non-financial risk management and to enhance their risk culture. The companies also need to ensure that accountabilities are clear, cascaded and enforced, according to APRA's report.

APRA said that the requirement of an additional A$250 million capital for Allianz Australia will remain until the company has completed its underway remediation work, which is intended to strengthen the insurer's risk management and close the gaps its self-assessment had identified.

The regulator has previously proposed additional capital requirements for Australia & New Zealand Banking Group Ltd., National Australia Bank Ltd. and Westpac Banking Corp.