CTHRepealedLegislation
Insurance (prudential standard) determination No. 3 of 2012 - Prudential Standard GPS 113 - Capital Adequacy: Internal Model-based Method
Annual Internal Model ReportAnnual Internal Model Report
Start here
Get a plain-English read of Annual Internal Model Report
Turn the raw legal text into a practical explanation grounded in Insurance (prudential standard) determination No. 3 of 2012 - Prudential Standard GPS 113 - Capital Adequacy: Internal Model-based Method.
Annual Internal Model Report
- A regulated institution with approval to use the IMB Method must provide an ‘Internal Model Report’ to APRA annually (or more or less frequently as specified by APRA). An annual Internal Model Report must be submitted to APRA on or before the date that the Insurance Liability Valuation Report is due to be submitted to APRA in accordance with Prudential Standard GPS 320 Actuarial and Related Matters. Where an Internal Model Report is required at an interval other that a 12 monthly interval, the Internal Model Report must be submitted within the timeframe specified by APRA. The scope of the Internal Model Report must be agreed between the regulated institution and APRA prior to its preparation.