Wed, 27th Mar 2024

In this Daily Financial Services News Wrap, the Australian Prudential Regulation Authority (APRA) is planning a year-long resilience assessment across all financial entities, not just banking. The stress test aims to prepare Australia's financial system for unforeseen events, which could be economic or environmental. The focus also includes the rapidly growing superannuation sector, which could soon overtake traditional banking in economic importance. NRMA Insurance reports an increase in weather-related claims, emphasizing the need for homeowners to prepare for extreme climatic conditions. Finally, a shift in the financial landscape is noted with high-net-worth women becoming more active in investment strategies, prompting financial advisory services to address this trend and adapt to cater to more women advisors. All these developments aim for better resilience and inclusivity in the evolving Australian financial landscape.n