On 22 June 2015, the Australian Prudential Regulation Authority (APRA) released a letter to all Chief Executive Officers (CEOs) of general insurers, Level 2 insurance groups and life companies (collectively, the insurers) encouraging them to adopt better public disclosure practices for prudential matters. The current capital adequacy framework for insurers is based on a three … Continue Reading
Major financial institutions should prepare for group wide regulation as Australia’s peak prudential regulator gears up for stricter supervision of conglomerates. The Australian Prudential Regulation Authority’s (APRA) planned framework for supervising conglomerates arises from its concern around the potential contagion risks faced by APRA-regulated entities within conglomerate groups. APRA is concerned that the current arrangements … Continue Reading
