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Showing 1 - 10 of 42 results for "Geoff Summerhayes"

Super funds to answer to new APRA enforcer

ELIZA BAVIN  |  FRIDAY, 19 MAR 2021
... insurance industry," he said. Cole will take up her new role on 1 July 2021 for a five-year term, replacing Geoff Summerhayes whose five-year term expired on 31 December 2020.

APRA resumes life insurance intervention

ELIZABETH MCARTHUR  |  WEDNESDAY, 30 SEP 2020
... happen if life companies continue to haemorrhage money through the sale of IDII," APRA executive board member Geoff Summerhayes said. "Our assessment is that the pandemic may further exacerbate the problems with this product, so decisive action can no ...

Calls for disability insurance reform

ELIZA BAVIN  |  MONDAY, 10 FEB 2020
... around $3.4 billion over the past five years through the sale of DII to individuals. APRA executive board member Geoff Summerhayes, at the time, said life companies had kept premiums at unsustainably low levels and policy features were too generous.

Climate risk should be integral to business: Report

ELIZA BAVIN  |  THURSDAY, 6 FEB 2020
... consistency, reliability, comparability and timeliness. APRA welcomed the new guide with executive board member Geoff Summerhayes labeling it as a valuable took that will support ASX listed entities, and others, in their management and public disclosure ...

Life insurers lost $3.4b over five years: APRA

ELIZA BAVIN  |  TUESDAY, 3 DEC 2019
... major reinsurer indicating it was no longer prepared to reinsure individual DII, APRA executive board member Geoff Summerhayes said there is now a genuine risk insurers may start withdrawing from the market. "Disability income insurance plays a vital ...

APRA hits Allianz over risk

HARRISON WORLEY  |  WEDNESDAY, 14 AUG 2019
... imposed $500 million additional capital requirements on each of ANZ, NAB and Westpac. APRA executive board member Geoff Summerhayes said the self-assessments proved the issues in CBA's risk governance work were not only common among Australia's banks ...

Byers warns not to spread APRA too thin

HARRISON WORLEY  |  MONDAY, 12 AUG 2019
... the issue, APRA chair Wayne Byers - appearing by phone from Sydney alongside deputy chair Helen Rowell, member Geoff Summerhayes and general counsel Warren Scott - said several recent reviews had asked more from the regulator, stretching its resources. ...

Regulators unite for life insurance transparency

HARRISON WORLEY  |  FRIDAY, 29 MAR 2019
... publishing higher-quality, more consistent and transparent life insurance data. APRA executive board member Geoff Summerhayes said the regulator's joint work represented their commitment to industry transparency. "This project represents a joint ...

APRA consults to combat cyber attacks

ELIZABETH MCARTHUR  |  TUESDAY, 26 MAR 2019
... acknowledging much has changed since then, is now consulting the industry on the matter. APRA executive board member Geoff Summerhayes said: "Australia's banks, insurers and superannuation funds are major targets of cyber-crime, and the risk is accelerating ...

APRA beefs up cybersecurity standards

HARRISON WORLEY  |  THURSDAY, 8 NOV 2018
... extensively with industry, which led to the publication of the standard's final form. APRA executive board member Geoff Summerhayes said cyberattacks on Australia's financial services companies are becoming more sophisticated with time. "A significant ...
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