Approval to hold a stake in a financial sector company of more than 20% No. 4 of 2025
Financial Sector (Shareholdings) Act 1998
To: Insurance Australia Group Limited ABN 60 090 739 923 (the applicant) Since:
- On 20 March 2025, the applicant applied to the Treasurer under section 13 of the Act for approval to hold a 100% stake in CGU Australia Pty Ltd ABN 62 004 478 960 (the company); and
- I am satisfied it is in the national interest for the applicant to hold a 100% stake in the company,
I, Jane Magill, a delegate of the Treasurer, under paragraph 14(1)(a) of the Act, approve the applicant to hold a 100% stake in the company.
This approval commences on the day the company is authorised under section 12 of the
Insurance Act 1973 and remains in force indefinitely. Date: 5 May 2025
Jane Magill Executive Director
General Insurance and Banking Division Australian Prudential Regulation Authority
Interpretation
Act means the Financial Sector (Shareholdings) Act 1998.
financial sector company has the meaning given in section 3 of the Act.
stake in relation to a company, has the meaning given in clause 10 of Schedule 1 to the Act.
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