The Australian Prudential Regulation Authority (APRA) yesterday hosted a seminar in Sydney to discuss interim guidelines designed to provide advice to actuaries implementing the proposed new Prudential Standard on liability valuation for insurers.

The seminar continues the dialogue with the general insurance industry that APRA initiated with its first seminar on regulatory reform in March 1999, and progressed with a series of policy discussion papers issued over the past year. The purpose of the seminar was to stimulate discussion and debate on the interim guidelines between the regulator, the general insurance industry and in particular the actuarial profession and financial consulting sector.

Seminar speakers included Mr Brett Ward, a Director from consulting firm KPMG Actuaries, who provided practical guidance on the implementation of the interim guidelines. Around 70 people attended the seminar, including executive APRA staff, members of the actuarial profession and financial consulting sector, and senior representatives of the general insurance industry. Copies of the seminar program and the presentations are available at www.apra.gov.au

For further information contact:

Gloria Peterson
Public Affairs Manager
02 9210 3385