Details

Service: Topics, Financial Services Regulation
Industry: Financial Services, Insurance
Type: Regulatory update
Date: 15/06/2012

APRA Capital Standards for insurers - milestone

APRA has released some of the final life and general insurance capital standards, as part of their LAGIC project, to be introduced from 1 January 2013. With these changes to capital standards, APRA seeks to introduce more risk sensitive capital measures which will impact how insurance companies are funded, and secure their funding.

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APRA’s Capital Standards – milestone [PDF 87KB]

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They have also released further drafts of some of the standards on the composition of capital.

KPMG 's summary looks at at industry issues arising from the standards, consequential changes to other APRA standards, the role of the Appointed Actuary, processes and key considerations for insurers.

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