9 March 2021 - APRA agrees to court enforceable undertaking from Allianz Australia

The Australian Prudential Regulation Authority (APRA) has agreed to accept a court enforceable undertaking (CEU) from Allianz Australia Insurance Limited (Allianz) acknowledging its past risk and compliance weaknesses and committing to finish rectifying these serious issues. The CEU commits Allianz to completing a series of transformation programs that relate to risk maturity, compliance, conduct and culture in a timeframe agreed with APRA. Allianz has also undertaken to provide APRA with greater assurance that these programs are complete and operationally effective.

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