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Life Insurance (prudential standard) determination No. 1 of 2023
Objective and key requirements of this PObjective and key requirements of this Prudential Standard
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Objective and key requirements of this Prudential Standard
This Prudential Standard is made for the purposes of the Life Insurance Act 1995.
The Life Insurance Act 1995 makes provision for prudential standards in relation to the solvency of statutory funds.
This standard is a prudential standard in relation to solvency for the purposes of sections 3, 52, 62, 63 and 159 of the Life Insurance Act 1995. This Prudential Standard is satisfied in relation to a statutory fund if the capital base of the fund exceeds 90 per cent of the fund’s prescribed capital amount.