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Financial Sector (Collection of Data) (reporting standard) determination No. 64 of 2006 - Reporting Standard GRS 120.0 (2007) Determination of Capital Base
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Turn the raw legal text into a practical explanation grounded in Financial Sector (Collection of Data) (reporting standard) determination No. 64 of 2006 - Reporting Standard GRS 120.0 (2007) Determination of Capital Base.
Introduction
This form collects information for the calculation of the capital base of licensed insurers for the purposes of deriving a capital adequacy measure and to gauge compliance with the Minimum Capital Requirement (MCR) in accordance with GPS 110 Capital Adequacy.
GPS 110 Capital Adequacy specifies the methodology for the measurement of an insurer’s capital base. The range of instruments that are eligible for inclusion in the capital base of an insurer are also outlined in GPS 110 Capital Adequacy.