Insurance (prudential standard) determination No. 12 of 2019
Category C insurersCategory C insurers
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Category C insurers
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Any repatriation of assets in Australia, whether direct or indirect[10], by a Category C insurer that will result in a reduction in its net assets in Australia must be subject to APRA’s prior consent consistent with the requirements of paragraphs 44 to 47.
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Paragraph 49 does not apply to any repatriation of assets in Australia out of the current year profits of a Category C insurer where the assets being repatriated to the head office of the Category C insurer or any other branch or related entity of the Category C insurer do not exceed the Category C insurer’s after-tax earnings in the year to which they relate (i.e. a repatriation of assets not wholly or partly funded from retained earnings).