SUN suncorp group limited

News: SUN Australian APRA Releases Consultation To Enhance Oversight Of Life Reinsurance Market

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    April 8 (Reuters) - Australian Prudential Regulation Authority:

    • RELEASES CONSULTATION TO ADDRESS CONCERNS OVER INCREASED USE OF OFFSHORE REINSURERS BY LIFE INSURERS
    • PROPOSED UPDATES WILL IMPOSE AGGREGATE LIMIT ON EXPOSURE OF LIFE INSURERS TO OFFSHORE REINSURERS, WHICH ARE NOT REGULATED BY APRA
    • OFFSHORE REINSURERS THAT ENTER DOMESTIC MARKET AND BECOME APRA-REGISTERED ENTITY WILL NOT BE SUBJECT TO AGGREGATE LIMIT
    • SEEKING STAKEHOLDER FEEDBACK ON REVISED LPS BY 25 JUNE; FINAL STANDARD EXPECTED BY 2021-END

    Source ( https://bit.ly/2Ov32Q5)

    (([email protected];))

 
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