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Proposed changes to general insurance prudential reporting - June 2010

Response Paper

Response to Submissions: Proposed changes to general insuranceprudential reporting - June 2010 (amended by APRA on 30 July 2010 at page 19 'Timing and transition to the new reporting basis')
Questions and Answers - dated 15 October 2010. Note: Question 35 has been updated.
 
Final Prudential Standards
These prudential standards will be effective from 1 July 2010 subject to registration on the Federal Register of Legislative Instruments.
 
Prudential Standard GPS 001 Definitions
Prudential Standard GPS 110 Capital Adequacy
Prudential Standard GPS 112 Capital Adequacy: Measurement of Capital
Prudential Standard GPS 113 Capital Adequacy: Internal Model-based Method
Prudential Standard GPS 114 Capital Adequacy: Investment Risk Capital Charge
Prudential Standard GPS 115 Capital Adequacy: Insurance Risk Capital Charge
Prudential Standard GPS 116 Capital Adequacy: Concentration Risk Capital Charge
Prudential Standard GPS 120 Assets in Australia
Prudential Standard GPS 310 Audit and Actuarial Reporting and Valuation
 
Prudential Standards (marked-up versions)
The mark-up in these versions of the prudential standards highlight the changes that will take effect from 1 July 2010. The requirements contained in these versions of the standards are identical to those contained in the final prudential standards listed above.
 
Prudential Standard GPS 001 Definitions (marked-up)
Prudential Standard GPS 110 Capital Adequacy (marked-up)
Prudential Standard GPS 112 Capital Adequacy: Measurement of Capital (marked-up)
Prudential Standard GPS 113 Capital Adequacy: Internal Model-based Method (marked-up)
Prudential Standard GPS 114 Capital Adequacy: Investment Risk Capital Charge (marked-up)
Prudential Standard GPS 115 Capital Adequacy: Insurance Risk Capital Charge (marked-up)
Prudential Standard GPS 116 Capital Adequacy: Concentration Risk Capital Charge (marked-up)
Prudential Standard GPS 120 Assets in Australia (marked-up)
Prudential Standard GPS 310 Audit and Actuarial Reporting and Valuation (marked-up)
 
Draft Transitional Arrangements
 
Draft Reporting forms and instructions(marked-up versions)
 
Form names
Forms
Instructions
GRF 110.0 Minimum Capital Requirement (Licensed Insurer)
GRF 110.0 Minimum Capital Requirement (Branch Insurer)
GRF 120.0 Determination of Capital Base
GRF 130.0 Off Balance Sheet Business - Credit Substitutes Provided and Risk Charge
No change
GRF 130.1 Off Balance Sheet Business – Liquidity Support Facilities Obtained
No change
GRF 130.2 Off Balance Sheet Business – Charges Granted and Risk Charge
No change
GRF 130.3 Off Balance Sheet Business – Credit Support Received
No change
GRF 140.0 Investments - Direct Interest Rate Holdings and Risk Charge
GRF 140.1 Investments - Direct Equity Holdings and Risk Charge
GRF 140.2 Investments - Direct Property Holdings and Risk Charge
GRF 140.3 Investments - Loans and Advances and Risk Charge
GRF 140.4 Investments - Indirectly Held by Insurer and Risk Charge
GRF 150.0 Asset Exposure Concentrations and Risk Charge (Licensed Insurer)
No change
GRF 150.0 Asset Exposure Concentrations and Risk Charge (Branch Insurer)
No change
GRF 160.0 Derivative Activity and Risk Charge
GRF 170.0 Concentration Risk Charge
No change
GRF 170.1 Maximum Event Retention and Risk Charge for LMIs
No change
GRF 210.0 Outstanding Claims Liability - Insurance Risk Charge
GRF 210.1 Premiums Liabilities - Insurance Risk Charge
GRF 300.0 Statement of Financial Position (Licensed Insurer)
GRF 300.0 Statement of Financial Position (Branch Insurer)
GRF 301.0 Reinsurance Assets and Risk Charge
GRF 310.0 Statement of Financial Performance (Licensed Insurer)
GRF 310.0 Statement of Financial Performance (Branch Insurer)
GRF 310.1 Premium Revenue and Reinsurance Expense, Underwriting expenses and acquisition costs
GRF 310.2 Claims Expense and Reinsurance Recoveries
GRF 310.3 Investment and Operating Income and Expense
GRF 320.0 Reconciliation of Annual Disclosure
Deleted
GRF 400.0 Statement of Risk by Country
GRF 410.0 Movement in Outstanding Claims Provision
GRF 420.0 Premium Revenue by State and Territory of Australia
GRF 430.0 Claims Expense by State and Territory of Australia
GRF 440.0 Claims Development Table
No change
GRF 450.0 Interest in Controlled Entities, Associates and Joint Ventures
No change

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