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Australia Insurance Industry - Governance, Risk and Compliance

Publisher GlobalData
Published Apr 30, 2025
Length 252 Pages
SKU # GBDT20107424

Description

Australia Insurance Industry - Governance, Risk and Compliance

Summary

GlobalData’s ‘Australia Insurance Industry - Governance, Risk and Compliance’ report is the result of extensive research into the insurance regulatory framework in Australia.

It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries.

The report brings together GlobalData’s research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.

The report provides insights into the governance, risk, and compliance framework pertaining to the insurance industry in Australia, including -
  • An overview of the insurance regulatory framework in Australia.
  • The latest key changes, and changes expected in the country’s insurance regulatory framework.
  • Key regulations and market practices related to different types of insurance product in the country.
  • Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in the country.
  • Key parameters including licensing requirements permitted foreign direct investment, minimum capital requirements, solvency and reserve requirements, and investment regulations.
  • Details of the tax and legal systems in the country.
Key Highlights
  • The Australian Prudential Regulatory Authority and the Australian Securities and Investment Commission regulate the Australian insurance industry.
  • Non-admitted insurance is not permitted in Australia
  • 100% FDI is permitted in the Australian insurance industry
  • Composite insurance is not permitted in Australia
  • Insurance premium tax is not imposed; instead, stamp duty is enforced and regulated by each individual state
Scope
  • The report covers details of the insurance regulatory framework in Australia.
  • The report contains details of the rules and regulations governing insurance products and insurance entities.
  • The report lists and analyzes key trends and developments pertaining to the country's insurance regulatory framework.
  • The report analyzes the rules and regulations pertaining to the establishment and operation of insurance businesses in the country.
  • The report provides details of taxation imposed on insurance products and insurance companies.
Reasons to Buy
  • Provides FAQ-style analytical insights comprising 129 knowledge elements on insurance compliance applicable to the country.
  • Gain insights into the insurance regulatory framework in Australia.
  • Track the latest regulatory changes, and expected changes impacting the Australian insurance industry.
  • Gain detailed information about the key regulations governing the establishment and operation of insurance entities in the country.
  • Understand key regulations and market practices pertaining to various types of insurance product.

Table of Contents

252 Pages
AUSTRALIA
Legislation Overview
Supervision and Control
Legislation
Compulsory Insurance
Non-Admitted Insurance Regulations
Company Registration and Operation
License
Foreign Direct Investment / Ownership
Minimum Capital Requirements
Solvency Margins
Reserve Requirements
Statutory Return Requirements
Fee Structure
Taxation
Tax on Insurance Premium
Corporate Income Tax
Corporate Capital Gains Tax
Value Added Tax
Legal System
Policy Practice
About GobalData
Contact Us
List of Tables
Table 1: Australia – Short-term ratings
Table 2: Australia – Long-term ratings
Table 3: Australia – Stamp duty rates for different regions(Engineering)
Table 4: Australia – FSPL variable component rates for 2023-2024
Table 5: Australia – Stamp duty rates for different regions(Business Interruption)
Table 6: FSPL variable component rates for 2023-2024
Table 7: Australia – Stamp duty rates for different regions(Property)
Table 8: Australia – FSPL variable component rates
Table 9: Australia – Stamp duty rates for different regions(Motor)
Table 10: Australia – Stamp duty rates for different regions(Liability)
Table 11: Australia – Stamp duty rates for different regions(Professional Risks)
Table 12: Australia – Stamp duty rates for different regions(Aviation)
Table 13: Australia – Stamp duty rates for different regions(Transit)
Table 14: Australia – Stamp duty rates for different regions(Marine)
Table 15: Australia – Stamp duty rates for different regions(Group Life)
Table 16: Australia – Stamp duty rates for different regions(Individual Life)
Table 17: Australia – Stamp duty rates for different regions(Employers' Liability/workers compensation)
Table 18:Australia – Stamp duty rates for different regions(Healthcare)
Table 19: Australia – Stamp duty rates for different regions(Personal Accident)
Table 20: Australia – Stamp duty rates for different regions - Transit
Table 21: Australia – Stamp duty rates for different regions - Marine
Table 22: Australia – Stamp duty rates for different regions - Aviation
Table 23: Australia – Stamp duty rates for different regions - Employers' Liability/workers compensation
Table 24: Australia – Stamp duty rates for different regions - Liability
Table 25: Australia – Stamp duty rates for different regions - Healthcare
Table 26: Australia – Stamp duty rates for different regions - Personal Accident
Table 27: Australia – Stamp duty rates for different regions - Group Life
Table 28: Australia – Stamp duty rates for different regions - Individual Life
Table 29: Australia – Stamp duty rates for different regions - Engineering
Table 30: Australia – Stamp duty rates for different regions - Business Interruption
Table 31: Australia – Stamp duty rates for different regions - Property
Table 32: Australia – Stamp duty rates for different regions - Motor
Table 33: Australia – Stamp duty rates for different regions - Professional Risks
Table 34: Australia –Corporate Tax Rates for the Financial Year 2025

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