AmTrust Specialty Limited (ASL), a UK-regulated specialty lines insurer, successfully obtained authorisation from the Australian Prudential Regulation Authority (APRA) to operate as a Category C general insurer (foreign branch) in Australia.
In August of 2025, the New Zealand Cabinet approved the preparation of an amendment to the Insurance (Prudential Supervision) Act 2010, colloquially known as “IPSA”.
The PFS team has been involved in numerous APRA and ASIC licencing projects including Banks (ADIs), Restricted ADIs (RADIs) and Insurers. PFS has firsthand experience of the challenges, APRA’s expectations and requirements, and how to manage what can be a complex and lengthy process.
Australia’s NFP sector is vast, diverse, and mission-driven—delivering frontline services and long-term community reform.
In this article, we explore considerations for financial institutions from the recent speeches by APRA Executives, specifically that of Chris Gower1, Executive Director of Cross Industry Risk.
PFS Consulting supports enhancing governance standards but believe additional clarity is needed on some specific elements of the proposals, and how they will be implemented and enforced. We also think it’s worth considering when to provide more prescription in certain areas. We’ve also raised several important additional matters which were not explicitly addressed in the proposal.
As of 1 January 2025, climate-related financial disclosures are mandatory in Australia under a phased three-year rollout.
APRA has proposed measures to strengthen governance in financial institutions. Read the summary of the problem statements along with proposals
