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

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 or provide to the Agency:

• that restructure will not result in unfairness to the policy holders of a health benefits fund
• that 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
• that the restructure would not violate any prudential standards
• 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
• certifications of Compliance from the Board of the insurer or other governing body that the arrangement meets all requirements.

Duration

Ongoing

Fees

Fees Details for this service in table format.

Forms

Act(s) name

Private Health Insurance (Prudential Supervision) Act 2015 Australian Government

Regulation(s) name

Private Health Insurance (Prudential Supervision) Rules 2019 Australian Government

Administering agency

Australian Prudential Regulation Authority

Contact details