Approval of a Merger and Acquisition of Health Insurance Funds Arrangement - Australian Government

Service summary

You will require this approval if you intend to merge two or more health insurance funds under an arrangement.

Any restructuring of your health benefit fund, in which insurance policies are transferred to another health benefit fund or to your own fund from another company, requires an approval.

Please consult the Contact Officer for more information.

Service type

Licence

A licence defines the need to obtain recognition / certification and registration to undertake a certain business activity.

Eligibility requirements

To be eligible for this approval you must satisfy the Agency that:

  • The restructure will not result in unfairness to the policy holders of a health benefits fund;
  • The assets and liabilities that would be transferred to the receiving fund or funds represent a reasonable estimate of what would, immediately before the restructure, be the net asset position of the transferring fund or the sum of the net asset positions of each of the funds; and
  • The restructure would not violate any prudential standards.

You must also provide:

  • A copy of your proposed arrangement;
  • A copy of your business plan for each receiving fund covering the period of the first 36 months of operation from the transfer date;
  • Reports from your actuaries; and
  • Certifications of Compliance from the Board of the insurer or other governing body that the arrangement meets all requirements.

Please consult the Contact Officer for more information regarding eligibility requirements.

Duration

Ongoing.

Fees

 TypeDescription
ApplyApplication

No fees are required.

Forms

 Resources
Apply

Application Form for Approval of a Merger and Acquisition of Health Insurance Funds Arrangement - Please consult the Contact Officer for information on forms to be submitted.

Administering agency

Australian Prudential Regulation Authority

Act(s) name

Private Health Insurance (Prudential Supervision) Act 2015 (Australian Government)

Regulation(s) name

Private Health Insurance (Prudential Supervision) Rules 2016 (Australian Government)

Contact details

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 2
10-12 Brisbane Ave
Barton
Australian Capital Territory 2600
Mailing address:
GPO BOX 9836
Canberra City, Australian Capital Territory 2601

Phone:

1300558849

Fax:

02 62135251
contactapra@apra.gov.au

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 21, Casselden Place
2 Lonsdale Street
Melbourne
Victoria 3000
Mailing address:
GPO BOX 9836
Melbourne, Victoria 3001

Phone:

1300558849

Phone:

03 92467500

Fax:

03 96635085
contactapra@apra.gov.au

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 5
5 Mill Street
Perth
Western Australia 6000
Mailing address:
GPO BOX 9836
Perth, Western Australia 6001

Phone:

1300558849

Phone:

08 94206100

Fax:

08 94818142
contactapra@apra.gov.au

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 26
400 George Street
Sydney
New South Wales 2000
Mailing address:
GPO BOX 9836
Sydney, Western Australia 2001

Phone:

1300558849

Phone:

08 82353200

Fax:

08 82353200
contactapra@apra.gov.au

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 22
25 Grenfell Street
Adelaide
South Australia 5000
Mailing address:
GPO BOX 9836
Adelaide, South Australia 5001

Phone:

1300558849

Phone:

08 82353200

Fax:

08 82353222
contactapra@apra.gov.au

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 26
400 George Street
Sydney
New South Wales 2000
Mailing address:
GPO BOX 9836
Sydney, Western Australia 2001

Phone:

1300558849

Phone:

02 92103000

Fax:

02 92103411
contactapra@apra.gov.au

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 21, Casselden Place
2 Lonsdale Street
Melbourne
Victoria 3000
Mailing address:
GPO BOX 9836
Melbourne, Victoria 3001

Phone:

1300558849

Phone:

03 92467500

Fax:

03 96635085
contactapra@apra.gov.au

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 9
500 Queen Street
Brisbane City
Queensland 4000
Mailing address:
GPO BOX 9836
Brisbane, Queensland 4001

Phone:

1300558849

Phone:

07 30018500

Fax:

07 30018501
contactapra@apra.gov.au

Disclaimer

The information contained on the Australian Business Licence and Information Service (ABLIS) web site, or via packages or other sources is intended for general guidance only.

To the full extent permitted by law, the Federal, State, Territory and Local Governments make no representations or warranties (expressed or implied) in relation to the information, including its accuracy, currency or completeness.

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To the full extent permitted by law the Federal, State, Territory and Local Governments, their employees and agents do not accept any liability for any reason, including without limitation, liability in negligence, to any person for the general information which is provided herein, or in respect of anything, including the consequences of anything done, or not done, by any such person in whole or partial reliance upon the information.