The roles and relationship between Australian Alliance Insurance, Apia and Shannons
Australian Alliance Insurance Company Limited (AAI) is authorised by Australian Prudential Regulatory Authority (APRA) to carry on insurance business pursuant to the Insurance Act 1973.
AAI is also the holder of an Australian Financial Securities License (AFSL) issued by Australian Securities and Investments Commission (ASIC) to provide financial product advice in respect of general insurance products.
Both Australian Pensioners Insurance Agency Limited and Shannons Limited are Authorised Representatives and wholly owned subsidiaries of AAI, and act as AAI's agent under an authority given to it by AAI to enter into contracts of insurance on behalf of AAI as insurer, and deal with and settle claims on behalf of AAI. This type of authority is called a binder.
Further information on the relationship between AAI and its Authorised Representatives can be obtained by reading the Financial Services Guide issued by each of Apia and Shannons.
Australian Alliance Insurance Company Ltd ABN 11 006 471 709 AFS Licence No. 235011
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