The Australian Prudential Regulation Authority (APRA) has barred Paul Abela from being a director or senior manager for a general insurer in Australia because of his connection to the HIH Insurance collapse in 2001.

Mr Abela held various positions of power at HIH, including Tax Manager, Group Tax Counsel and GM for Tax, Legal and Compliance. He was responsible for reviewing returns to APRA and failed to follow requirements of the Insurance Act.

It was also found that Mr Abela did not comply with Australian accounting for income tax laws and failed to supply APRA with correct and accurate tax return information, making supervision by APRA difficult.

Mr Abela joins 22 other people connected to the collapse of HIH who have been disqualified by APRA.