The Australian Prudential Regulation Authority (APRA) will oversee a comprehensive assessment of how Macquarie Group determines the required capital for its non-bank businesses, after identifying a breach of the group's Non-Operating Holding Company (NOHC) authority.
The New South Wales (NSW) Reconstruction Authority (RA) and Insurance Council of Australia (ICA) have formalised a new partnership to strengthen coordination between government and the insurance sector before, during and after disasters.
Australians are no longer in favour of continuing to pay rising home insurance premium. They feel these increases only support those living in flood-prone areas. Instead, they want the government to fight floods with pre-emptive measures and block development in regions that have elevated risk of inundation.
Up to 1m Aussies may be unknowingly relying on credit card travel insurance that has been reduced, removed, or is about to change, as a major overhaul of card rewards and benefits is underway in Australia.
The Fidelis Partnership (TFP) has announced plans to launch a Singapore-based Lloyd's service company, The Fidelis Partnership APAC (TFP APAC), subject to regulatory approval. The company intends to commence underwriting from 1 January 2027 and will focus on building long-term partnerships in high-growth markets across APAC.
Chubb has welcomed Ms Kathleen Warden back as Head of Property and Casualty (P&C), Australia and New Zealand.
Catastrophe insurance data provider PERILS, has released its fourth and final industry loss estimate for the Australia East Coast Severe Convective Storms (SCS) which affected the states of Queensland, New South Wales and Victoria during the period of 26 October to 1 November 2025.
Acenda Life has appointed Ms Lisa Green as Group Chief People and Culture Officer, and promoted Mr Ross Miller to the role of Chief Commercial Officer.
Arch Insurance Australia (Arch) has appointed Mr Shawn Jarman as Senior Casualty Underwriter.
The Insurance Council of Australia (ICA) has urged households to prepare their homes and review their insurance coverage ahead of the severe weather season, warning that the declaration of El Niño does not guarantee a dry summer. The Bureau of Meteorology has declared the climate phenomenon, which has historically been associated with drier conditions in eastern Australia. However, the country is on track for its wettest El Niño year on record, with widespread storms affecting parts of Queensland and the Northern Territory in October.