APRA and ASIC publish information package to oversee implementation of FAR, a new regime which aims to improve transparency and accountability in the insurance, banking, and superannuation sectors.
Generali is consolidating its insurance business units under one division, with experienced executive Giulio Terzariol joining from Allianz SE to lead the new division.
The Insurance Authority's release of audited statistics confirms sharp increase in underwriting profit in 2022, despite modest growth of 3.11% in gross premiums.
Tokio Marine, Sompo Japan, Mitsui Sumitomo, and Aioi Nissay Dowa have reportedly found evidence of suspected fraud in 17,000 of the 53,000 claims examined so far.
The recently designated 'domestic systematically important insurer', had its stand-alone credit profile upgraded following its reduced use of leverage.
