Proposed reforms (PDF 614kb)

The Australian Prudential Regulation Authority (APRA) today released for comment a Policy Discussion Paper on its Proposed Reforms to the Prudential Supervisory Requirements for General Insurers.

This Paper follows on from three discussion papers issued by APRA last September.

It sets out a refined version though still in broad terms of the reform proposals in the September papers, taking into account feedback from industry in recent months.

In the coming months, APRA will release draft prudential standards covering four key issues Capital Adequacy, Liability Valuation, Reinsurance Arrangements and Operational Risk discussed in this Paper. These standards will set out the proposed new requirements in greater detail.

Industry comments on the Discussion Paper are invited by 14 July 2000. Further opportunities for comment will follow the release of the draft standards.

A copy of the Discussion Paper and the draft standards, when released, can be found on the APRA web site www.apra.gov.au.

Enquiries: giregime@apra.gov.au

Comments can be made in writing to:

Mr Brian Gray
Executive General Manager
Policy, Research and Consulting
Australian Prudential Regulation Authority
GPO Box 9836
Sydney NSW 2001

Further information:

Gloria Peterson
Public Affairs Manager
02 9210 3385