New JV partnership is an opportunity to "go from strength to strength in an important growth market for Generali," says Rob Leonardi, Asia Regional Officer.
The regulator reportedly found lapses related to the rejection of valid claims, deduction of inadmissible costs, and delayed settlements from insurers.
Majority of insurers endorse the Australian Prudential Regulation Authority’s supervisory role, but many warn that the cost of compliance remains high.
Former company chair Ronald Ong said shareholders have “persistently, strongly and increasingly requested a viable liquidity option” since Income’s corporatisation.
