Integrating AASB 17 into the capital and reporting frameworks for insurers and updates to the LAGIC framework
The Australian Prudential Regulation Authority (APRA) has commenced a consultation to update its insurance capital and reporting frameworks in recognition of the implementation of Australian Accounting Standards Board 17 Insurance Contracts (AASB 17).
Submissions on this topic will be open until Wednesday 31 March 2021.
The discussion paper outlines APRA's plans to align its insurance capital and reporting frameworks with AASB 17 where appropriate. A copy of the discussion paper is available below:
For the benefit of all insurers in the industry, APRA is making public the workbooks that will be used in the targeted QIS. Only targeted insurers will need to complete the workbooks.
Note on submissions
It is APRA's policy to publish all submissions on the APRA website unless the respondent specifically tells APRA in writing that all or part of the submission is to remain confidential. An automatically generated confidentiality statement in an email does not satisfy this purpose. If you would like only part of your submission to be confidential, you should provide this information marked as 'confidential' in a separate attachment.