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Prudential map for life insurance

The prudential framework currently in force for the life insurance industry is summarised below in risk-based categories. This page is intended to clarify how the standards and guidance fit together.

The standards and practice guides are available here.

Last updated 27 June 2023

Governance

Topic

Title

Standard

Guidance

Board

Governance

CPS 510

-

Accountability

Conflicts of Interest

-

LPG 260

 

Fit and Proper

CPS 520

LPG 520

Actuarial

Actuarial

CPS 320

CPG 320

Audit

Audit

3PS 310

-

 

Audit and Related Matters 

LPS 310

-

Remuneration

Remuneration

CPS 511

CPG 511

Risk management

Topic

Title

Standard

Guidance

Risk Management

Risk Management

CPS 220

CPG 220

Credit Risk

Aggregate Exposures

3PS 221

3PG 221

 

Intra-group Transactions

3PS 222

3PG 222

Insurance Risk

LI Risk and Reinsurance

LPS 230

LPG 240

 

Asset and Liability Management

-

LPG 250

 

Group Insurance

-

LPG 270

Market Risk

Margining

CPS 226

-

Operational Risk

Operational Risk

-

LPG 230

 

Outsourcing

CPS 231

CPG 231

 

Business Continuity

-LPG 232

 

Business Continuity

CPS 232

-

 

Information Security

CPS 234

CPG 234

 

Managing Data Risk

-

CPG 235

 

Climate Change

-

CPG 229

Financial resilience

Topic

Title

Standard

Guidance

Capital

Capital Adequacy

LPS110

-
 Solvency StandardLPS 100-
 Capital Management (ICAAP)-CPG 110
 Measurement of Capital LPS 112-
 Asset Risk Charge LPS 114-
 Insurance Risk ChargeLPS 115-
 Asset Concentration Risk Charge LPS 117-
 Operation Risk Charge LPS 118-

Liquidity

Valuation of Policy Liabilities LPS 340-

Other

Termination ValuesLPS 360-
 Investment Performance GuaranteesLPS 370-
 Statutory Funds LPS 600-
 Friendly Society Benefit FundsLPS 700LPG 700

Recovery and resolution

Topic

Title

Standard

Guidance

Resolution

Resolution Planning (2024)

CPS 900

CPG 900 

Recovery

Recovery and Exit Planning

(2024)

CPS 190

CPG 190