Allianz to set aside extra $250m capital


The Australian unit of Allianz SE will have to set aside an additional $250 million due to shortfalls in its risk governance self-assessment, APRA said on Wednesday.

The move will see Allianz Australia join the country’s four biggest banks which have been slapped with additional capital requirements until they strengthen risk management and reimburse customers for wrongly charged fees.



Source link Finance News Australia

Enter your Email Address

Leave a Reply

Your email address will not be published. Required fields are marked *