BRIEF-Australian APRA Releases Consultation To Enhance Oversight Of Life Reinsurance Market By Reute…



© Reuters.

April 8 (Reuters) – Australian Prudential (LON:) 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://

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