News: IAG Australia's APRA Consults On Implementation Of AASB 17 For Insurance Capital And Reporting

Nov 25 (Reuters) - Australian Prudential Regulation Authority:

• CONSULTS ON IMPLEMENTATION OF AASB 17 FOR INSURANCE CAPITAL AND REPORTING
• SAYS ALSO UPDATING LIFE AND GENERAL INSURANCE CAPITAL (LAGIC) FRAMEWORK
• PROPOSALS NOT EXPECTED TO SIGNIFICANTLY CHANGE MINIMUM CAPITAL REQUIREMENTS OR MATERIALLY IMPACT PREMIUMS
• FINAL APRA CAPITAL AND REPORTING STANDARDS WILL BECOME EFFECTIVE FROM 1 JULY 2023
• CONSULTATION ON DISCUSSION PAPER WILL CLOSE ON 31 MARCH 2021
• UPDATED CAPITAL & REPORTING STANDARDS EXPECTED TO RELEASE IN LATE-2021 FOR FURTHER CONSULTATION

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