Four year plan outlines Australian Reinsurance Pool Corporation's approach to enhancing pool effectiveness and affordability amid a challenging nat cat and threat landscape.
Sector has experienced its most significant market shift since 2017, marked by increased insurer choice and improved conditions for buyers, broker said.
The Insurance Commission’s new guidelines require insurers to undergo regular risk assessments at least every two years, to strengthen anti-money laundering and counter-terrorism efforts.
AM Best affirms ratings while upgrading outlook, noting parent company's improved access to funding and bank support to mitigate liquidity and refinancing risks.
Australia’s prudential supervisor is set to reduce its frontline divisions from three to two, aiming to streamline the monitoring in the insurance sector.
