Zurich admits misrepresentations to APRA
The Australian Prudential Regulation Authority (APRA) today accepted Enforceable Undertakings from Zurich Australian Insurance Limited (ZAIL) and Zurich Financial Services Australia Limited (ZFSA) arising from two financial reinsurance transactions with General & Cologne Re Group Australia that were undertaken in 2000.
APRA took this action based on information gathered during its investigation which began in May 2004. APRA also alerted the Australian Securities & Investments Commission (ASIC) to the implications ofOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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