Surrender payouts and reserve requirements are climbing at both life and non-life insurers, raising questions over whether households are trading long-term protection for short-term liquidity.
Draft amendments would allow qualifying institutional investors to increase their shareholding in the same bank without seeking repeated regulatory approvals.
The insurer's proposed undertakings include annual product benchmarking, pricing safeguards and protections for smash repair providers in Western Australia.
The preferred bidder is expected to sign a stock purchase agreement in the third quarter, with the acquisition targeted for completion before year-end.
