Australia

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.
APRA Capital Standards cover
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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.

 

Insurance

KPMG’s Insurance group helps general insurance companies, health, life, reinsurance and broking arms of the industry make better business decisions.