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115

Capital Adequacy: Insurance Risk Charge

GPS
115
GRS
115.0
GRS
115.1
GRS
115.0_G
GRS
115.1_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 insurance risks associated with 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.
Reporting Standards (4)
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 Risk Charge on outstanding claims liabilities. It includes Form GRF 115.0 Outstanding Claims Liabilities – Insurance Risk Charge and associated specific instructions and must be read in conjunction with the general instruction guide, Prudential Standard GPS 115 Capital Adequacy: Insurance Risk Charge and Prudential Standard GPS 320 Actuarial and Related Matters.
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 risk charge on premiums liabilities. It includes Form GRF 115.1 Premiums Liabilities – Insurance Risk Charge and associated specific instructions and must be read in conjunction with the general instruction guide, Prudential Standard GPS 115 Capital Adequacy: Insurance Risk Charge and Prudential Standard GPS 320 Actuarial and Related Matters.
In Force
In effect from 30 June 2016
Level 2: This Reporting Standard sets out the requirements for the provision of information to APRA relating to the calculation of a Level 2 insurance group’s insurance risk charge for outstanding claims liabilities. It includes Form GRF 115.0A_G Outstanding Claims Liabilities – Insurance Risk Charge – Australia by Class of Business (G) and Form GRF 115.0B_G Outstanding Claims Liabilities – Insurance Risk Charge – Australia by Region (G) and associated specific instructions and must be read in conjunction with the general instruction guide, Prudential Standard GPS 115 Capital Adequacy: Insurance Risk Charge and Prudential Standard GPS 320 Actuarial and Related Matters
In Force
In effect from 30 June 2016
Level 2: This Reporting Standard sets out the requirements for the provision of information to APRA relating to the calculation of a Level 2 insurance group’s insurance risk charge for premiums liabilities. It includes Form GRF 115.1A_G Premiums liabilities – Insurance Risk Charge – Australia by Class of Business (G) and Form GRF 115.1B_G Premiums liabilities – Insurance Risk Charge – Australia by Region (G) and associated specific instructions and must be read in conjunction with the general instruction guide, Prudential Standard GPS 115 Capital Adequacy: Insurance Risk Charge and Prudential Standard GPS 320 Actuarial and Related Matters.