Revocation of authorisation to carry on insurance business
Insurance Act 1973
TO: W.R. Berkley Insurance (Europe), Limited ABN 81 126 483 681 (the insurer)
SINCE
- the insurer is authorised under subsection 12(2) of the Insurance Act 1973 (the Act), to carry on insurance business in Australia (the Authorisation); and
- the insurer has asked APRA to revoke the Authorisation; and
- I am satisfied that:
(i) the insurer has no liabilities in respect of insurance business carried on by it in Australia; and
(ii) revoking the Authorisation would not be contrary to the national interest.
I, Brandon Kong Leong Khoo, a delegate of APRA, under subsection 16(1) of the Act, REVOKE the Authorisation.
This Revocation takes effect on the date it is signed. Dated: 22 September 2017
[Signed]
Brandon Kong Leong Khoo Executive General Manager Diversified Institutions Division
Interpretation Document ID: 227827
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 16(2) of the Act, if APRA revokes a general insurer’s authorisation, APRA must give
written notice to the insurer and ensure that notice of the revocation is published in the Gazette. By virtue of subsection 16(3) of the Act, a revocation is not invalid merely because of a failure to comply with subsection 16(2) of the Act.