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APRA authorises new general insurer and non-operating holding company

Wednesday 16 January 2019

The Australian Prudential Regulation Authority (APRA) has authorised under the Insurance Act 1973 for Arch LMI Pty Ltd to carry on insurance business as a lenders mortgage insurer, and for Arch Financial Holdings Australia Pty Ltd to be an APRA-authorised non-operating holding company.

An updated list of all APRA-authorised general insurers and non-operating holding companies can be found on the APRA website.

The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding $6 trillion in assets for Australian depositors, policyholders and superannuation fund members.