Insurers, superannuation funds and banks in Australia will now need to meet higher standards of operational risk management as new requirements for operational risk management laid down by the Australian Prudential Regulation Authority (APRA) have come into force.
The plan by the Tasmanian Liberals to establish a state-owned insurance company would put significant financial risk onto the public balance sheet according to Insurance Council of Australia (ICA).
The Australian Securities and Investments Commission (ASIC) has warned the public to stay away from pushy sales tactics that recommend quick superannuation switches.
A total of 50 finalists has been revealed for the 10th Asia Trusted Life Agents & Advisers Awards. The finalists emerged from 13 markets and 47 different companies across the region.
The latest industry loss estimate for tropical cyclone Alfred, which affected the states of Queensland and New South Wales in Australia is A$2.25bn ($1.46bn), per independent industry CAT insurance data provider PERILS.
The total insured cost of extreme weather events that impacted Australia in 1H2025 has exceeded A$1.8bn ($1.18bn), according to new data released by the Insurance Council of Australia (ICA).
Ms Christine McLoughlin has decided to retire from the Suncorp Board, effective 25 September 2025. Mr Duncan West, currently a non-executive director, has been elected as her successor. Mr West will assume his new position as chairman on Ms McLoughlin's retirement.
Australia is ranked among the world's top eight wine-producing countries, and contributes more than A$45bn ($29.4bn) annually to the national economy.
Allianz Asia Pacific has appointed Mr Vojtech Pivný as regional CFO.
Female teenagers - especially those from lower-socio economic backgrounds - and gender-diverse adolescents in Australia are significantly more likely to experience worsening mental health symptoms over their high school years according to a new study.