Revocation of the authorisation to be a NOHC of a general insurer 2025 – RAA Insurance Holdings Limited

 

Insurance Act 1973

 

 

To: RAA Insurance Holdings Limited ABN 52 008 210 062 (‘the body corporate’) Since:

  1.             the body corporate was granted, under subsection 18(3) of the Act, an authorisation to

be a NOHC (‘the NOHC authorisation’);

 

  1.             the body corporate requested in writing, under subsection 22(1) of the Act, that APRA revoke the NOHC authorisation; and

 

  1.             APRA is satisfied that revoking the NOHC authorisation would not be contrary to either:

 

  1.              the national interest; or

 

  1.            the interests of the policyholders of any general insurer who is a subsidiary of the body corporate,

 

I, Jane Magill, a delegate of APRA, under subsection 22(1) of the Act, revoke the NOHC authorisation.

 

This revocation comes into effect on the date of this instrument. Dated: 1 July 2025

 

 

 

 

Jane Magill Executive Director

General Insurance and Banking Division

 

 

 

Interpretation

 

Act means the Insurance Act 1973.

APRA means the Australian Prudential Regulation Authority.

NOHC is short for non-operating holding company and has the meaning given in subsection 3(1) of the Act.

NOHC authorisation has the meaning given in subsection 18(1) of the Act.

 

 

Note: APRA must give a written notice to the body corporate and ensure that notice of the revocation is published in the Gazette.