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General insurance

The Australian Prudential Regulation Authority (APRA) has today released for consultation a discussion paper and four draft cross-industry prudential standards that consolidate and harmonise a number of prudential standards across APRA-regulated industries.

The four draft standards will replace 12 current industry-specific standards in the following areas:

The Australian Prudential Regulation Authority (APRA) has today released a consultation package relating to refinements to the prudential and reporting framework for general insurance groups (GI Level 2 groups).

The package contains a discussion paper outlining the proposed changes as well as draft prudential standards and draft reporting forms and instructions.

The Australian Prudential Regulation Authority (APRA) today released a discussion paper describing its proposals to publish data on general insurance business handled by insurance intermediaries, or brokers.

APRA and the Australian Securities and Investments Commission (ASIC) announced the collection of intermediated insurance data in December 2009. General insurance intermediaries must report all insurance contracts and provide additional details on insurance placed with unauthorised foreign insurers (UFIs).

The Australian Prudential Regulation Authority (APRA) has today released the final package relating to refinements to the prudential and reporting standards for general insurance groups.

The refinements to the prudential framework address minor issues identified since the implementation of APRA’s prudential framework for the supervision of general insurance groups in 2009. Refinements to the reporting framework align aspects of general insurance group reporting with the reporting framework for individual APRA-authorised general insurers.

The Australian Prudential Regulation Authority (APRA) has today released a response paper and 14 draft prudential standards in a third round of consultation on its review of capital standards for general and life insurers. The aims of the review include improving the risk-sensitivity of the capital standards and achieving better alignment of these standards across APRA-regulated industries.

The Australian Prudential Regulation Authority (APRA) has today published the first edition of its revised Insight publication with an overview of the superannuation industry and of the Government’s Stronger Super reforms.

APRA has published Insight since 2001, and the publication provides information on policy initiatives and developments in the financial industries that APRA supervises.

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