Aussie insurers face new risk-based capital requirements

The Australian Prudential Regulation Authority (Apra) has unveiled technical guidance for life and general insurers to comply with a new risk-based capital regime, which includes an explicit requirement for an operational risk capital charge.

A discussion paper, Review of capital standards for general insurers and life insurers, issued on May 13 reads: "Recent international and Australian experience has shown the potential for operational risk exposures to result in severe and unexpected losses

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