The Australian Prudential Regulation Authority (“APRA”) has today released the final package relating to refinements to the prudential and reporting standards for general insurance groups.
The refinements to the prudential framework address minor issues identified since the implementation of APRA’s prudential framework for the supervision of general insurance groups in 2009. Refinements to the reporting framework align aspects of general insurance group reporting with the reporting framework for individual APRA-authorised general insurers.