Life Insurance (prudential standard) determination No. 2 of 2023
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Life Insurance (prudential standard) determination
No. 2 of 2023
Prudential Standard LPS 115 Capital Adequacy: Insurance Risk Charge
Life Insurance Act 1995
I, Clare Gibney, a delegate of APRA:
(a) under subsection 230A(5) of the Life Insurance Act (the Act) revoke Life Insurance (prudential standard) determination No. 5 of 2012, including Prudential Standard LPS 115 Capital Adequacy: Insurance Risk Charge made under that Determination; and
(b) under subsection 230A(1) of the Act, determine Prudential Standard LPS 115 Capital Adequacy: Insurance Risk Charge, in the form set out in the Schedule, which applies to all life companies, including friendly societies.
This instrument commences on 29 March 2023.
Dated: 7 March 2023
Clare Gibney
Executive Director
Policy and Advice Division
Interpretation
In this instrument:
APRA means the Australian Prudential Regulation Authority.
friendly society has the meaning given in section 16C of the Act.
life company has the meaning given in the Schedule to the Act.
Schedule