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Prudential and Reporting Standards for Life insurance and friendly societies

Capital

  • 100

    Solvency Standard

    LPS
    100
    Prudential Standards (1)
    In Force
    In effect from 1 January 2013
    This standard is a prudential standard in relation to solvency for the purposes of sections 3, 52, 62, 63 and 159 of the Life Insurance Act 1995. This Prudential Standard is satisfied in relation to a statutory fund if the capital base of the fund exceeds 90 per cent of the fund’s prescribed capital amount.
  • 110

    Internal Capital Adequacy Assessment Process and Supervisory Review

    CPG
    110
    Guidance (1)
    Current
    March 2013
    This guide assists regulated institutions to develop their Internal Capital Adequacy Assessment Process, including required documents, and to understand APRA’s approach to the supervisory review process for setting supervisory adjustments to required capital. This information supports compliance with Prudential Standard APS 110 Capital Adequacy (APS 110), Prudential Standard GPS 110 Capital Adequacy (GPS 110) and Prudential Standard LPS 110 Capital Adequacy (LPS 110). These prudential standards set out requirements in relation to the capital adequacy of a regulated institution, including the need for a regulated institution to have an ICAAP, and establish a framework for supervisory review and adjustment of a regulated institution’s capital requirements.   |  File type: PDF  |  File size: 308.59 KB
  • 110

    Capital Adequacy

    LPS
    110
    LRS
    110.0
    LRS
    200.0
    Prudential Standards (1)
    In Force
    In effect from 1 January 2013
    This Prudential Standard requires a life company to maintain adequate capital against the risks associated with its activities. The ultimate responsibility for the prudent management of capital of a life company rests with its Board of directors. The Board must ensure that the life company 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 (2)
    In Force
    In effect from 1 January 2013
    This Reporting Standard sets out the requirements for the provision of information to APRA relating to a life company’s prescribed capital amount. It includes Form LRF 110.1 Prescribed Capital Amount (SF, GF) and Form LRF 110.2 Prescribed Capital Amount (Entity), and associated specific instructions and must be read in conjunction with the general instruction guide and Prudential Standard LPS 110 Capital Adequacy.
    In Force
    In effect from 1 January 2013
    This Reporting Standard sets out the requirements for the provision of information to APRA in relation to the supplementary information used to calculate a life company’s capital adequacy. It includes Form LRF 200.0 Capital Adequacy Supplementary Information and associated specific instructions and must be read in conjunction with the general instruction guide.
  • 112

    Capital Adequacy: Measurement of Capital

    LPS
    112
    LRS
    112.0
    LRS
    112.3
    Prudential Standards (1)
    In Force
    In effect from 1 January 2013
    This Prudential Standard sets out the characteristics that an instrument must have to qualify for inclusion in the capital base of a life company and the various regulatory adjustments to be made to determine the capital base for each statutory fund, the general fund and the life company as a whole.
    Guidance (0)
    Reporting Standards (2)
    In Force
    In effect from 1 January 2013
    This Reporting Standard sets out the requirements for the provision of information to APRA relating to the determination of a life company’s capital base. It includes Forms LRF 112.0 Determination of Capital Base (SF), LRF 112.1 Determination of Capital Base (GF) and LRF 112.2 Determination of Capital Base (Entity), and associated specific instructions and must be read in conjunction with the general instruction guide and Prudential Standard LPS 112 Capital Adequacy: Measurement of Capital.
    In Force
    In effect from 1 January 2013
    This Reporting Standard sets out the requirements for the provision of information to APRA in relation to a life company’s related party exposures. It includes Form LRF 112.3 Related Party Exposures and associated specific instructions and must be read in conjunction with the general instruction guide.
    Related resources (1)
  • 114

    Capital Adequacy Asset Risk Charge

    LPS
    114
    LRS
    114.0
    LRS
    114.2
    LRS
    114.3
    Prudential Standards (1)
    In Force
    In effect from 1 January 2013
    This Prudential Standard requires a life company to maintain adequate capital against the asset risks associated with its activities. The ultimate responsibility for the prudent management of capital of a life company rests with its Board of directors. The Board must ensure the life company 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 (3)
    In Force
    In effect from 1 January 2013
    This Reporting Standard sets out the requirements for the provision of information to APRA in relation to calculating a life company’s Asset Risk Charge. It includes Form LRF 114.0 Asset Risk Charge and associated specific instructions and must be read in conjunction with the general instruction guide and Prudential Standard LPS 114 Capital Adequacy: Asset Risk Charge.
    In Force
    In effect from 1 January 2013
    This Reporting Standard sets out the requirements for the provision of information to APRA relating to a life company’s derivatives activity. It includes Form LRF 114.2 Derivatives Activity and associated specific instructions and must be read in conjunction with the general instruction guide.
    In Force
    In effect from 1 January 2013
    This Reporting Standard sets out the requirements for the provision of information to APRA in relation to a life company’s off-balance sheet business. It includes Form LRF 114.3 Off-balance Sheet Business and associated specific instructions and must be read in conjunction with the general instruction guide.
  • 115

    Capital Adequacy Insurance Risk Charge

    LPS
    115
    LRS
    115.0
    Prudential Standards (1)
    In Force
    In effect from 1 January 2013
    This Prudential Standard requires a life company to maintain adequate capital against the insurance risks associated with its activities. The ultimate responsibility for the prudent management of capital of a life company rests with its Board of directors. The Board must ensure that the life company 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 (1)
    In Force
    In effect from 1 January 2013
    This Reporting Standard sets out the requirements for the provision of information to APRA in relation to calculating a life company’s Insurance Risk Charge. It includes Form LRF 115.0 Insurance Risk Charge (SF) and Form LRF 115.1 Insurance Risk Charge (GF), and associated specific instructions and must be read in conjunction with the general instruction guide and Prudential Standard LPS 115 Capital Adequacy: Insurance Risk Charge.
  • 117

    Capital Adequacy Asset Concentration Risk Charge

    LPS
    117
    LRS
    117.0
    Prudential Standards (1)
    In Force
    In effect from 1 January 2013
    This Prudential Standard requires a life company to maintain adequate capital against the asset concentration risks associated with its activities. The ultimate responsibility for the prudent management of capital of a life company rests with its Board of directors. The Board must ensure that the life company 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 (1)
    In Force
    In effect from 30 June 2015
    This Reporting Standard sets out the requirements for the provision of information to APRA in relation to calculating a life company’s Asset Concentration Risk Charge. It includes Form LRF 117.0 Asset Concentration Risk Charge and associated specific instructions and must be read in conjunction with the general instruction guide and Prudential Standard LPS 117 Capital Adequacy: Asset Concentration Risk Charge.
  • 118

    Capital Adequacy Operational Risk Charge

    LPS
    118
    LRS
    118.0
    Prudential Standards (1)
    In Force
    In effect from 1 January 2013
    This Prudential Standard requires a life company to maintain adequate capital against the operational risks associated with its activities. The Operational Risk Charge is the minimum amount of capital required to be held against operational risks. The Operational Risk Charge relates to the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events.
    Reporting Standards (1)
    In Force
    In effect from 1 January 2013
    This Reporting Standard sets out the requirements for the provision of information to APRA in relation to calculating a life company’s Operational Risk Charge. It includes Form LRF 118.0 Operational Risk Charge and associated specific instructions and must be read in conjunction with the general instruction guide and Prudential Standard LPS 118 Capital Adequacy: Operational Risk Charge.
  • 340

    Valuation of Policy Liabilities

    LPS
    340
    LRS
    340.0
    Prudential Standards (1)
    In Force
    In effect from 1 January 2013
    This Prudential Standard establishes a set of principles and practices for the consistent measurement and reporting of policy liabilities for life insurance contracts. The policy liabilities must provide for both a best estimate value of the liabilities and the timely release of profit over the life of the business.
    Reporting Standards (1)
    In Force
    In effect from 1 January 2013
    This Reporting Standard sets out the requirements for the provision of information to APRA in relation to a life company’s retained profits. It includes Form LRF 340.1 Retained Profits (SF & SF Eliminations) and Form LRF 340.2 Retained Profits (SF Total, GF, GF Elim, Entity), associated specific instructions and must be read in conjunction with the general instruction guide.

Financial statements

  • 001

    Reporting requirements

    LRS
    1
    Guidance (0)
    Reporting Standards (1)
    In Force
    In effect from 1 January 2013
    This Reporting Standard sets out the general instructions for providing information under reporting standards, including the periods within which information required under reporting standards must be provided to APRA.
    Reporting Forms (0)
    Related resources (1)
  • 300

    Statement of Financial Position

    LRS
    300.0
    Reporting Standards (1)
    In Force
    In effect from 1 January 2013
    This Reporting Standard sets out the requirements for the provision of information to APRA in relation to a life company’s financial position. It includes Form LRF 300.1 Statement of Financial Position (SF & SF Eliminations) and Form LRF 300.2 Statement of Financial Position (SF Total, GF, GF Elim, Entity), and associated specific instructions and must be read in conjunction with the general instruction guide.
  • 310

    Income Statement

    LRS
    310.0
    Reporting Standards (1)
    In Force
    In effect from 1 January 2013
    This Reporting Standard sets out the requirements for the provision of information to APRA in relation to a life company’s financial performance. It includes Form LRF 310.1 Income Statement (SF & SF Eliminations) and Form LRF 310.2 Income Statement (SF Total, GF, GF Elim, Entity), and associated specific instructions and must be read in conjunction with the general instruction guide.
  • 330

    Summary of Revenue and Expenses

    LRS
    330.0
    Reporting Standards (1)
    In Force
    In effect from 1 January 2013
    This Reporting Standard sets out the requirements for the provision of information to APRA in relation to a summary of a life company’s revenue and expenses. It includes Form LRF 330.0 Summary of Revenue and Expenses and associated specific instructions and must be read in conjunction with the general instruction guide.
  • 400

    Statement of Policy Liabilities

    LRS
    400.0
    Reporting Standards (1)
    In Force
    In effect from 1 January 2013
    This Reporting Standard sets out the requirements for the provision of information to APRA in relation to a statement of a life company’s policy liabilities. It includes Form LRF 400.0 Statement of Policy Liabilities and associated specific instructions and must be read in conjunction with the general instruction guide.
  • 420

    Assets Backing Policy LiIabilities

    LRS
    420.0
    Reporting Standards (1)
    In Force
    In effect from 1 January 2013
    This Reporting Standard sets out the requirements for the provision of information to APRA in relation to assets backing a life company’s policy liabilities. It includes Form LRF 400.0 Statement of Policy Liabilities and associated specific instructions and must be read in conjunction with the general instruction guide.
  • 430

    Sources of Profit

    LRS
    430.0
    Reporting Standards (1)
    In Force
    In effect from 1 January 2013
    This Reporting Standard sets out the requirements for the provision of information to APRA in relation to a life company’s sources of profit. It includes Form LRF 430.0 Sources of Profit and associated specific instructions and must be read in conjunction with the general instruction guide.

Governance

  • 260

    Conflicts of Interest under Section 48

    LPG
    260
    Guidance (1)
    Current
    March 2007
    The Life Insurance Act 1995 (the Act) sets out requirements for life company directors in relation to the priority to be accorded to the interests of statutory fund policy owners. This prudential practice guide assists life companies in complying with those requirements in relation to conflicts of interest and, more generally, outlines APRA’s views on conflicts of interest.   |  File type: PDF  |  File size: 93.91 KB
  • 310

    Audit and Related Matters

    3PS
    310
    Prudential Standards (1)
    In Force
    In effect from 1 January 2015
    This Prudential Standard requires an authorised deposit-taking institution (ADI) to ensure that APRA has access to independent advice from an auditor relating to the operations, internal controls and information provided to APRA in respect of that ADI. In addition, the standard sets out requirements for the roles and responsibilities of the appointed auditor.
  • 310

    Audit and Related Matters

    LPS
    310
    Prudential Standards (1)
    In Force
    In effect from 1 January 2013
    This Prudential Standard sets out the roles and responsibilities of a life company’s Auditor. It also sets out the obligations of a life company to make arrangements to enable its Auditor to fulfil his or her responsibilities. The ultimate responsibility for providing impartial advice in relation to the operations, financial condition and internal control of a life company rests with the Auditor. This advice is designed to assist the Board and senior management in carrying out their responsibility for the sound and prudent management of the life company.
  • 320

    Actuarial and Related Matters

    CPS
    320
    CPG
    320
    Prudential Standards (1)
    In Force
    In effect from 1 July 2019
    This Prudential Standard aims to ensure that a general insurer, life company or private health insurer has access to appropriate actuarial advice to assist in the sound and prudent operation of its business. It sets out the requirements for insurers to appoint an Appointed Actuary and to establish a framework for the provision of actuarial advice. It also sets out the functions of the Appointed Actuary role.
    Guidance (1)
    Current
    In effect from 1 July 2019
    This prudential practice guide was developed to support insurers and actuaries in fulfilling their responsibilities to comply with the requirements contained in CPS 320. Not all practices outlined in this guide will be relevant for every insurer, and some aspects may vary depending upon the size, business mix and complexity of the insurer’s business operations.  |  File type: PDF  |  File size: 503.62 KB
  • 510

    Governance

    CPS
    510
    Prudential Standards (1)
    In Force
    Governance
    This Prudential Standard sets out minimum foundations for good governance of an APRA-regulated institution in the deposit-taking, general insurance, life insurance and private health insurance industries, and of a Head of a group. Its objective is to ensure that an institution and group is managed soundly and prudently by a competent Board (or equivalent), which can make reasonable and impartial business judgements in the best interests of the institution and group and which duly considers the impact of its decisions on depositors and/or policyholders.
    Related resources (1)
  • 511

    Remuneration

    CPG
    511
    Guidance (1)
    Current
    November 2009
    This prudential practice guide aims to assist institutions regulated by the Australian Prudential Regulation Authority (APRA) in considering and prudently managing the risks that may arise from their remuneration arrangements.   |  File type: PDF  |  File size: 309.02 KB
  • 520

    Fit and Proper

    CPS
    520
    CRF
    520
    Prudential Standards (1)
    In Force
    In effect from 1 July 2019
    This Prudential Standard sets out minimum requirements for APRA-regulated institutions in determining the fitness and propriety of individuals to hold positions of responsibility. Its objective is to ensure that an institution prudently manages the risks that persons acting in responsible person positions who are not fit and proper pose to the institution’s business and financial standing.
    Guidance (0)
    Reporting Forms (1)
    In Force
    May 2013
    In order to assist entities in complying with the requirement to ensure that information provided to APRA remains correct for all responsible persons, the form can be submitted at any time, however it will be provided on an annual basis to all entities submitting annual returns via D2A. Entities can use the annual form to correct and update the information they have provided to APRA throughout the year.  |  File type: PDF  |  File size: 130.35 KB
  • 520

    Fit and Proper

    LPG
    520
    Guidance (1)
    Current
    July 2010
    Prudential Standard LPS 520 Fit and Proper (LPS 520) sets out APRA’s requirements in relation to assessing the fitness and propriety of responsible persons of life companies and registered non-operating holding companies (registered NOHCs), collectively referred to as regulated institutions. This prudential practice guide aims to assist regulated institutions in complying with those requirements and, more generally, to outline prudent practices in relation to fitness and propriety.   |  File type: PDF  |  File size: 255.83 KB

Other requirements

  • 001

    Definitions

    3PS
    1
    Prudential Standards (1)
    In Force
    In effect from 1 July 2017
    This Prudential Standard defines key terms referred to in other Prudential Standards applicable to Level 3 Heads of Level 3 groups. All Prudential Standards applicable to Level 3 Heads must be read in conjunction with this Prudential Standard.
  • 001

    Definitions

    LPS
    1
    Prudential Standards (1)
    In Force
    In effect from 1 July 2019
    This Prudential Standard defines key terms referred to in other prudential standards applicable to life companies. All prudential standards applicable to life companies must be read in conjunction with this Prudential Standard.
    Reporting Standards (0)
  • 370

    Cost of Investment Performance Guarantees

    LPS
    370
    Prudential Standards (1)
    In Force
    In effect from 1 January 2013
    This Prudential Standard sets out the requirements for calculating the cost of investment performance guarantees provided in association with investment-linked contracts for the purpose of section 42 of the Life Insurance Act 1995.
  • 600

    Statutory Funds

    LPS
    600
    Prudential Standards (1)
    In Force
    In effect from 1 January 2013
    This Prudential Standard sets out requirements for the operations of statutory funds and any restructure of statutory funds, so that they are fair and equitable for policy owners. The ultimate responsibility for the operations of a life company's statutory funds and for following the required procedures in the event of restructuring a life company's statutory funds rests with the life company.
  • 700

    Friendly Society Benefit Funds

    LPS
    700
    LPG
    700
    Prudential Standards (1)
    In Force
    In effect from 1 July 2019
    The ultimate responsibility for the establishment, structure and operation of a friendly society's approved benefit funds rests with the friendly society. This Prudential Standard sets out the requirements for the establishment, structure and operation of an approved benefit fund of a friendly society so that it is fair and equitable for its members.
    Guidance (1)
    Current
    September 2013
    Prudential Standard LPS 700 Friendly Society Benefit Funds (LPS 700) applies to life companies that are friendly societies registered under the Life Insurance Act 1995 (the Life Act). It sets out requirements to ensure that the establishment, structure and operation of a friendly society’s approved benefit funds are fair and equitable for its members.   |  File type: PDF  |  File size: 273.59 KB
  • 750

    Claims and Disputes

    LRS
    750.0
    Reporting Standards (1)
    In Force
    In effect from 23 October 2018
    This Reporting Standard sets out the requirements for the provision of information to APRA by an authorised life company in relation to its claims and disputes data. It includes Form LRF 750.0 Claims and Disputes and associated instructions.

Risk management

  • 220

    Risk Management

    CPS
    220
    CPG
    220
    Prudential Standards (1)
    In Force
    In effect from 1 July 2019
    This Prudential Standard requires an APRA-regulated institution and a Head of a group to have systems for identifying, measuring, evaluating, monitoring, reporting, and controlling or mitigating material risks that may affect its ability, or the ability of the group it heads, to meet its obligations to depositors and/or policyholders. These systems, together with the structures, policies, processes and people supporting them, comprise an institution’s or group’s risk management framework.
    Guidance (1)
    Current
    April 2018
    This PPG aims to assist APRA-regulated institutions in complying with Prudential Standard CPS 220 Risk Management (CPS 220) and, more generally, to outline prudent practices in relation to risk management.  |  File type: PDF  |  File size: 675.49 KB
  • 221

    Aggregate Risk Exposures

    3PS
    221
    3PG
    221
    Prudential Standards (1)
    In Force
    In effect from 1 July 2017
    This Prudential Standard requires a Level 3 Head to ensure that an aggregate risk exposure external to the Level 3 group does not expose prudentially regulated institutions within the group to excessive risk. The ultimate responsibility for the aggregate risk exposure policy of a Level 3 group rests with the Board of its Level 3 Head.
    Guidance (1)
    Current
    July 2017
    Prudential Standard 3PS 221 Aggregate Risk Exposures (3PS 221) sets out APRA’s requirements in relation to the aggregation of risks across a Level 3 group. This PPG aims to assist Level 3 Heads to comply with those requirements and, more generally, to outline prudent practices in relation to certain aggregation matters.  |  File type: PDF  |  File size: 503.56 KB
  • 222

    Intra-group Transactions and Exposures

    3PS
    222
    3PG
    222
    Prudential Standards (1)
    In Force
    In effect from 1 July 2017
    This Prudential Standard requires a Level 3 Head to ensure that associations and dealings within the Level 3 group do not expose prudentially regulated institutions within the group to excessive risk.
    Guidance (1)
    Current
    July 2017
    Prudential Standard 3PS 222 Intra-group Transactions and Exposures (3PS 222) sets out APRA’s requirements in relation to the associations and dealings between institutions in a Level 3 group. This PPG aims to assist Level 3 Heads to comply with those requirements and, more generally, to outline prudent practices in relation to certain intra-group matters.  |  File type: PDF  |  File size: 505.33 KB
  • 226

    Margining and Risk Mitigation for Non-centrally Cleared Derivatives

    CPS
    226
    Prudential Standards (1)
    In Force
    1 September 2020
    Updated: 31 August 2020

    Summary

    This Standard supersedes a previous version, which is available here: https://www.legislation.gov.au/Details/F2019L01506

    This Prudential Standard requires an APRA covered entity to have appropriate margining practices in relation to non-centrally cleared derivatives. An APRA covered entity must exchange variation margin and post and collect initial margin with a covered counterparty, subject to certain criteria.
    Related resources (1)
  • 230

    Reinsurance

    LPS
    230
    LPG
    230
    Prudential Standards (1)
    In Force
    In effect from 1 April 2018
    This Prudential Standard is designed to ensure that reinsurance arrangements of life companies are subject to minimum standards of independent oversight by APRA. To that end, it addresses the regular reporting of reinsurance arrangements to APRA, and APRA’s oversight of Referable Reinsurance Arrangements.
    Guidance (1)
    Current
    March 2007
    Prudential Standard LPS 220 Risk Management (LPS 220) sets out APRA’s requirements for life companies in relation to risk management. This prudential practice guide aims to assist life companies in complying with requirements in relation to operational risk and, more generally, to outline prudent practices in relation to operational risk management.   |  File type: PDF  |  File size: 87.67 KB
  • 231

    Outsourcing

    CPS
    231
    CPG
    231
    Prudential Standards (1)
    In Force
    In effect from 1 July 2017
    This Prudential Standard requires that all outsourcing arrangements involving material business activities entered into by an APRA-regulated institution and a Head of a group be subject to appropriate due diligence, approval and ongoing monitoring. All risks arising from outsourcing material business activities must be appropriately managed to ensure that the APRA-regulated institution, or the group it heads, is able to meet its financial and service obligations to its depositors and/or policyholders.
    Guidance (1)
    Current
    October 2006
    Prudential Standard APS 231 Outsourcing, Prudential Standard GPS 231 Outsourcing and Prudential Standard LPS 231 Outsourcing (Prudential Standards) set out the Australian Prudential Regulation Authority’s (APRA's) requirements in relation to outsourcing. This prudential practice guide aims to assist regulated institutions in complying with those requirements and, more generally, to outline prudent practices in relation to managing outsourcing arrangements. For the purposes of this guide, ‘regulated institution’ refers to an authorised deposit-taking institution (ADI) or a general insurer or a life company (including a friendly society) regulated by APRA.   |  File type: PDF  |  File size: 85.64 KB
    Related resources (1)
  • 232

    Business Continuity Management

    CPS
    232
    Prudential Standards (1)
    In Force
    In effect from 1 July 2017
    This Prudential Standard requires each APRA-regulated institution and Head of a group to implement a whole-of-business approach to business continuity management that is appropriate to the nature and scale of the operations. Business continuity management increases resilience to business disruption arising from internal and external events and may reduce the impact on the institution’s or group’s business operations, reputation, profitability, depositors, policyholders and other stakeholders.
  • 232

    Business Continuity Management

    LPG
    232
    Guidance (1)
    Current
    March 2007
    Prudential Standard LPS 232 Business Continuity Management (LPS 232) sets out APRA’s requirements in relation to business continuity management (BCM) for life companies. This prudential practice guide aims to assist life companies in complying with those requirements and, more generally, to outline prudent practices in relation to BCM.   |  File type: PDF  |  File size: 98.96 KB
  • 233

    Pandemic Planning

    CPG
    233
    Guidance (1)
    Current
    May 2013
    This PPG aims to assist regulated institutions in considering and prudently managing the risks posed by a potential influenza pandemic, or any other widespread outbreak of contagious disease that could affect their operations. The information in this guide supports compliance with Prudential Standards CPS 232 Business Continuity Management (CPS 232) and SPS 232 Business Continuity Management (SPS 232), which set out the Australian Prudential Regulation Authority’s (APRA) requirements in relation to business continuity management for authorised deposit-taking institutions (ADIs), general insurers, life companies and registrable superannuation entity (RSE) licensees (RSE licensees). This guide also supports compliance with risk management and other relevant prudential requirements.  |  File type: PDF  |  File size: 268.63 KB
    Related resources (2)
  • 234

    Information Security

    CPS
    234
    CPG
    234
    Prudential Standards (1)
    In Force
    In effect from 1 July 2019
    This Prudential Standard aims to ensure that an APRA-regulated entity takes measures to be resilient against information security incidents (including cyber-attacks) by maintaining an information security capability commensurate with information security vulnerabilities and threats.
    Guidance (1)
    Current
    June 2019
    This PPG aims to assist regulated entities in maintaining information security. It is designed to provide guidance to Boards, senior management, risk management and information security specialists (management and operational).  |  File type: PDF  |  File size: 837.05 KB
    Related resources (2)
  • 235

    Managing Data Risk

    CPG
    235
    Guidance (1)
    Current
    September 2013
    This PPG aims to assist regulated entities in managing data risk. It is designed to provide guidance to senior management, risk management and technical specialists (both management and operational). The PPG targets areas where APRA continues to identify weaknesses as part of its ongoing supervisory activities. The PPG does not seek to provide an allencompassing framework, or to replace or endorse existing industry standards and guidelines.  |  File type: PDF  |  File size: 328.44 KB
  • 240

    Life Insurance Risk and Reinsurance Risk

    LPG
    240
    Guidance (1)
    Current
    March 2007
    Prudential Standard LPS 220 Risk Management (LPS 220) sets out APRA’s requirements for life companies in relation to risk management. This prudential practice guide aims to assist life companies in complying with those requirements in relation to insurance risk and reinsurance management and, more generally, to outline prudent practices in relation to good life insurance risk and reinsurance management.   |  File type: PDF  |  File size: 96.71 KB
  • 250

    Asset and Liability Management Risk

    LPG
    250
    Guidance (1)
    Current
    March 2007
    Prudential Standard LPS 220 Risk Management (LPS 220) sets out APRA’s requirements for life companies in relation to asset and liability management (ALM) risk. This prudential practice guide aims to assist life companies in complying with those requirements and, more generally, to outline prudent practices in relation to management of ALM risk.   |  File type: PDF  |  File size: 94.92 KB
  • 270

    Group Insurance Arrangements

    LPG
    270
    Guidance (1)
    Current
    October 2014
    This PPG outlines prudent practices in relation to group insurance arrangements. The main area of focus is life insurance, total and permanent disability insurance and income protection insurance provided to a registrable superannuation entity (RSE) licensee, for offering to beneficiaries. The insurer for these arrangements is usually a life company but may, for specific types of insurance benefits, be a general insurer. Many of the practices are also relevant for group insurance contracts where the policy owner is not an RSE licensee.   |  File type: PDF  |  File size: 336.21 KB