Authorisation to carry on insurance business
Insurance Act 1973
To: Swiss Re Asia Pte. Ltd. ARBN 631 490 447 (the Applicant)
SINCE the Applicant applied to APRA under subsection 12(1) of the Insurance Act 1973 (the Act), on 13 May 2019 for authorisation to carry on insurance business in Australia;
I, Brandon Kong Leong Khoo, a delegate of APRA, under subsection 12(2) of the Act, AUTHORISE the Applicant to carry on insurance business in Australia.
Date: 12 August 2019
[Signed]
…………………………………………………..
Brandon Kong Leong Khoo
Executive General Manager
Diversified Institutions Division
Interpretation
In this Notice:
APRA means the Australian Prudential Regulation Authority.
insurance business has the meaning given in section 3 of the Act.
Note 1 Under subsection 12(4) of the Act, if APRA authorises an applicant, APRA must give written notice to the Applicant and ensure that notice of the authorisation is published in the Gazette.
Note 2 APRA may revoke an authorisation in accordance with section 15 and 16 of the Act.
Note 3 Under subsection 13(1) of the Act, APRA may, at any time, by written notice to a general insurer, impose conditions or additional conditions or vary or revoke conditions imposed on the insurer’s authorisation under section 12 of the Act. The conditions must relate to prudential matters.