Commonwealth Coat of Arms of Australia

 

Approval to hold a stake in a financial sector company of more than 20% No. 5 of 2025

Financial Sector (Shareholdings) Act 1998

 

To: Allianz SE

Allianz Financial II Luxembourg S.à.r.l Allianz Europe BV

Allianz Asia Holding Pte. Ltd

Allianz Australia Limited ABN 21 000 006 226

Allianz Australia Insurance Limited ABN 15 000 122 850 (together the Applicants)

Since:

 

  1.             On 21 January 2025, the Applicants applied to the Treasurer under section 13 of the Act for approval to hold a 100% stake in RAA Insurance Holdings Limited ABN 52 008 210 062 and RAA Insurance Limited ABN 14 007 872 602, each a financial sector company under the Act (the financial sector companies); and

 

  1.             I am satisfied it is in the national interest for the Applicants to hold a 100% stake in the financial sector companies,

 

I, John Huijsen a delegate of the Treasurer, under subsection 14(1) of the Act, approve the Applicants holding a 100% stake in each of the financial sector companies.

 

This approval commences on the day it is made and remains in force indefinitely. Date: 12 June 2025

 

 

John Huijsen General Manager

General Insurance and Banking Division Australian Prudential Regulation Authority

 

 

Interpretation

 

Act means the Financial Sector (Shareholdings) Act 1998.

financial sector company has the meaning given in section 3 of the Act.

stake in relation to a company, has the meaning given in clause 10 of Schedule 1 of the Act.

Note 1 Under section 14 of the Act, the Treasurer must give written notice of the approval to the applicant and financial sector company concerned and this instrument will be registered on the Federal Register of Legislation as a notifiable instrument.

 

Note 2 Section 19 of the Act provides for flow-on approvals. If an approval has been granted for the holding of a stake in a financial sector company and the financial sector company is a holding company for an authorised deposit-taking institution or an authorised insurance company, then an approval is taken to exist for the holding of a stake of equal value in each financial sector company that is a 100% subsidiary of the holding company.