Revocation of authorisation to carry on insurance business 2024 – Aioi Nissay Dowa Insurance Company Limited
Insurance Act 1973
To: Aioi Nissay Dowa Insurance Company Limited ABN 39 096 302 466 (‘the general insurer’)
Since:
(a) the general insurer has held an authorisation under section 12 of the Insurance Act 1973 (‘the Act’) to carry on insurance business in Australia since 1 July 2002 (‘the authorisation’);
(b) the general insurer has asked APRA to revoke the authorisation; and
(c) APRA is satisfied the general insurer has no liabilities in respect of insurance business carried on by it in Australia and revoking the authorisation would not be contrary to the national interest,
I Sean Carmody, a delegate of APRA, under subsection 16(1) of the Act, revoke the general insurer’s authorisation.
The revocation takes effect on the date it is made. Dated: 15 March 2024
Sean Carmody Executive Director Insurance Division
Interpretation
In this instrument:
APRA means the Australian Prudential Regulation Authority.
insurance business has the meaning given in subsection 3(1) of the Act.
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