APRA consults on adjustments to its general insurance reinsurance framework
The Australian Prudential Regulation Authority (APRA) is consulting on targeted adjustments to its general insurance (GI) reinsurance framework. In response to reinsurance market developments and industry feedback, APRA is seeking to promote access to all forms of reinsurance and reduce regulatory burden.
Submissions to the consultation should be sent to APRA by 17 February 2024.
The letter is available on the APRA website at: Consultation on targeted adjustments to general insurance reinsurance settings.
The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding around $9 trillion in assets for Australian depositors, policyholders and superannuation fund members.