The last two years have been challenging for the global insurance industry. While one global insurer had to be bailed at the height of the global financial crisis, insurers in Australia proved to be much more resilient. As such, Australian insurers have not faced the level of regulatory reform being pursued in the US and Europe, but it remains a significant issue nonetheless.
Much of the recent interest in Australia has focused on bids by the National Australia Bank and AMP for AXA Asia Pacific Limited’s Australian and New Zealand businesses. In advising AXA, our team has drawn upon our market leading M&A experience and deep understanding of the sector.
This knowledge has been developed over years of advising on the laws and regulation governing insurers and intermediaries operating in the Asia Pacific. This includes advising on new insurance products, regulatory requirements and compliance, tax, codes of practice, claims procedures and protocols, alternative risk structures and captives, outsourcing and major acquisitions.
Where disputes arise, our team works closely with our clients to respond to claims involving professional indemnity, directors’ and officers’ liabilities, medical malpractice, product liability, public liability and reinsurance. With an ability to draw upon a deep team of litigation and arbitration specialists, disputes are resolved as smoothly as possible, with our clients driving strategy at all times.