APRA ‘reminds’ Australian insurers they can draw on rarely used ILS
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APRA ‘reminds’ Australian insurers they can draw on rarely used ILS

Abbie Day
07 August 2023
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The Australian Prudential Regulation Authority (APRA) has issued a letter to insurers to “remind” them they are allowed to use alternative reinsurance arrangements such as catastrophe bonds and ILS.

In the letter, the APRA recognised the challenging environment for insurers due to increased natural catastrophes, the war in Ukraine and the Covid 19 pandemic, which have led to higher premiums and increased retentions.

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