2024年10月1日 · LPS 117 Capital Adequacy: Asset Concentration Risk Charge requires life insurers to maintain adequate capital for its asset concentration risks.

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.

2022年9月27日 · On 8 March 2022, APRA released finalised revisions to Prudential Standard LPS 117 Capital Adequacy: Asset Concentration Risk Charge (LPS 117). The accompanying response paper sets out APRA’s response to industry feedback on the consultation in April 2021.

APRA Letter LPS 117 . 4 March 2019. Offshore Reinsurers and the Review of LPS 117. Proposed changes to LPS 117: • Exposure to offshore reinsurers limited to 5% in aggregate and 2.5% per reinsurer (currently 5% per reinsurer) • Related party exposure limit increased from 5% to 12.5% • Tighten and refine the definition of risk mitigants ...

2022年3月8日 · The Australian Prudential Regulation Authority (APRA) revised Prudential Standard LPS 117 Capital Adequacy: Asset Concentration Risk Charge (LPS 117), which prescribes the method for calculating the Asset Concentration Risk Charge (ACRC) component of the prescribed capital amount for a life company.

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.

2022年3月8日 · APRA moved to update LPS 117 following increased use of offshore reinsurance by Australian life insurers. APRA’s revisions aim to ensure the risks associated with the use of offshore reinsurers are being appropriately managed, while also allowing the benefits from their use to be realised.

2022年3月8日 · APRA’s revisions to Prudential Standard LPS 117 Capital Adequacy: Asset Concentration Risk Charge (LPS 117) aim to ensure the use of offshore reinsurers are being “appropriately managed while also allowing the benefits from their use to be realised”.

• Revising LPS 117 will aim to ensure risks associated with using offshore reinsurers are appropriately mitigated or managed. • The technical revisions made to LPS 117 will make regulatory requirements clearer, reducing the need for industry and APRA to clarify, and sometimes amend, the requirements on a case by case basis.

2022年3月14日 · Deputy Chairman Helen Rowell says the finalisation of LPS 117 is a significant milestone that will strengthen APRA oversight while ensuring ongoing access to offshore benefits that include an extra source of capacity and an avenue to access competitively priced support for innovative product designs.