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Refinements to the prudential framework for general insurance groups - October 2011


Response to Submissions
 
Response to Submissions: Refinements to the prudential framework for general insurance groups – October 2011
 
Final Prudential Standards
These prudential standards will be effective from 1 December 2011.
 
These standards will be available on the General Insurance Prudential Standards and Guidance Notes page from 1 December 2011.
 
Final Reporting Standards
These reporting standards are effective for reporting periods beginning on or after 1 July 2011.
 
These standards will be available on the Level 2 Insurance Group Reporting Standards page from 1 December 2011. The forms and instructions will be available on the Level 2 Insurance Group Reporting Requirements page from 1 December 2011.
 
Prudential Standards (marked-up versions)
The text shown in mark-up in these prudential standards highlights the changes that will take effect from 1 December 2011. The requirements contained in these versions of the standards are identical to those contained in the final prudential standards listed above.
 
 
Reporting forms and instructions (marked-up versions)
The text shown in mark-up in these reporting forms and instructions highlights the changes that will take effect for reporting periods beginning on or after 1 July 2011. The reporting forms will be available in D2A in late 2011. Following their release in D2A, the final forms and instructions will be available on the Level 2 Insurance Group Reporting Requirements page.
 
Form name Forms Instructions
GRF 110.0_G Minimum Capital Requirement
(Level 2 Insurance Group)
No change GRF 110.0_G Instructions
GRF 120.0_G Determination of Capital Base
(Level 2 Insurance Group)
GRF 120.0_G GRF 120.0_G
Instructions
GRF 131.0_G Off Balance Sheet Exposure Risk Charge 
(Level 2 Insurance Group)
No change No change
GRF 141.0_G Listed Equity Holdings and Risk Charge
(Level 2 Insurance Group)
No change No change
GRF 150.0_G Asset Exposure Concentrations and Risk Charge (Level 2 Insurance Group) No change No change
GRF 210.0A_G Outstanding Claims Liability - Insurance Risk Charge – Australia by class of business
(Level 2 Insurance Group)
GRF 210.0A_G GRF 210.0A_G
Instructions
GRF 210.0B_G Outstanding Claims Liability - Insurance Risk Charge – Australia by region
(Level 2 Insurance Group)
GRF 210.0B_G GRF 210.0B_G
Instructions
GRF 210.1A_G Premiums Liabilities - Insurance Risk Charge – Australia by class of business
(Level 2 Insurance Group)
GRF 210.1A_G GRF 210.1A_G
Instructions
GRF 210.1B_G Premiums Liabilities - Insurance Risk Charge – Australia by region
(Level 2 Insurance Group)
GRF 210.1B_G GRF 210.1B_G
Instructions
GRF 300.0_G Statement of Financial Position
(Level 2 Insurance Group)
GRF 300.0_G GRF 300.0_G
Instructions
GRF 301.0_G Reinsurance Assets and Risk Charge
(Level 2 Insurance Group)
GRF 301.0_G GRF 301.0_G
Instructions
GRF 302.0_G Statement of Financial Position by Region (Level 2 Insurance Group) GRF 302.0_G GRF 302.0_G
Instructions
GRF 310.0_G Income Statement
(Level 2 Insurance Group)
GRF 310.0_G GRF 310.0_G
Instructions
GRF 450.0_G Interest in Controlled Entities, Associates and Joint Ventures
(Level 2 Insurance Group)
 No change No change
 
 
Consultation package - Refinements to the prudential framework for general insurance groups – May 2011