Ms Orr refers to an audit carried out just last month that suggests Allianz still has compliance problems.

The audit highlights a lack of awareness by Allianz staff of the document compliance sign-off process, and that compliance plans are out of date and compliance monitoring is not taking place.

"I take it you have not fixed the problem, you are still trying to fix the problem," Ms Orr says.

Ms Callahan accepts Allianz is "at the start" of a process, but says the framework is now in place.