The Australian Prudential Regulation Authority (APRA) reported that the voluntary administrators of Eric Insurance Limited will hold a creditors’ meeting on 16 September 2025 to vote on a deed of company arrangement proposal as an alternative to liquidation. APRA has kept the insurer under heightened supervision and is monitoring the withdrawal process to support the best available outcome for policyholders. Eric, a small general insurer providing add-on motor vehicle-related products, decided to exit the general insurance market in July 2023 and stopped writing new insurance policies in June 2024. APRA has been working with the insurer and its administrators to explore exit options while the company winds down. The immediate next milestone is the 16 September 2025 creditor vote, which will determine whether the proposed deed of company arrangement proceeds or whether Eric moves toward liquidation.
Australian Prudential Regulation Authority 2025-09-05
Australian Prudential Regulation Authority monitors Eric Insurance exit ahead of creditor vote on deed of company arrangement
The Australian Prudential Regulation Authority (APRA) announced that Eric Insurance Limited's creditors will vote on 16 September 2025 on a deed of company arrangement proposal as an alternative to liquidation, with APRA maintaining heightened supervision to ensure optimal outcomes for policyholders. Eric, which ceased new policy issuance in June 2024, is under APRA's oversight as it exits the general insurance market.