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116

Capital Adequacy Insurance Concentration Risk Charge

GPS
116
GPG
116
GRS
116.0
GRS
116.1
GRS
116.0_G
Prudential Standards (1)
In Force
In effect from 1 July 2019
This Prudential Standard requires a general insurer or Level 2 insurance group to maintain adequate capital against the risks associated with insurance concentration in its activities. The ultimate responsibility for the prudent management of capital of a general insurer or Level 2 insurance group rests with its Board of directors. The Board must ensure that the general insurer or Level 2 insurance group maintains an adequate level and quality of capital commensurate with the scale, nature and complexity of its business and risk profile, such that it is able to meet its obligations under a wide range of circumstances.
Guidance (1)
Current
March 2013
Prudential Standard GPS 116 Capital Adequacy: Insurance Concentration Risk Charge (GPS 116) sets out APRA’s requirements in relation to insurance concentration risk. This prudential practice guide (PPG) assists general insurers and Level 2 insurance groups in complying with those requirements and, more generally, to outline prudent practices in relation to insurance concentration risk.   |  File type: PDF  |  File size: 167.08 KB
Reporting Standards (3)
In Force
In effect from 1 January 2013
Level 1: This Reporting Standard sets out the requirements for the provision of information to APRA relating to a general insurer’s Insurance Concentration Risk Charge. It includes Form GRF 116.0 Insurance Concentration Risk Charge and associated specific instructions and must be read in conjunction with the general instruction guide and Prudential Standard GPS 116 Capital Adequacy: Insurance Concentration Risk Charge.
In Force
In effect from 31 December 2014
Level 1: This Reporting Standard sets out the requirements for the provision of information to APRA relating to a lenders mortgage insurer’s Probable Maximum Loss and Insurance Concentration Risk Charge. It includes Form GRF 116.1 Probable Maximum Loss for LMIs – Standard Loans, Form GRF 116.2 Probable Maximum Loss for LMIs – Non-Standard Loans, Form GRF 116.3 Probable Maximum Loss for LMIs – Commercial Loans, Form GRF 116.4 LMI Concentration Risk Charge and Form GRF 116.5 Probable Maximum Loss for LMIs – Additional Information and associated specific instructions and must be read in conjunction with the general instruction guide and Prudential Standard GPS 116 Capital Adequacy: Insurance Concentration Risk Charge.
In Force
In effect from 30 June 2016
This Reporting Standard sets out the requirements for the provision of information to APRA relating to the calculation of the Level 2 insurance group’s insurance concentration risk charge. It includes Form GRF 116.0_G Insurance Concentration Risk Charge (G) and associated specific instructions and must be read in conjunction with the general instruction guide and Prudential Standard GPS 116 Capital Adequacy: Insurance Concentration Risk Charge.