General Information & Client Service
  • Americas: +1.212.553.1653
  • Asia: +852.3551.3077
  • China: +86.10.6319.6580
  • EMEA: +44.20.7772.5454
  • Japan: +81.3.5408.4100
Media Relations
  • New York: +1.212.553.0376
  • London: +44.20.7772.5456
  • Hong Kong: +852.3758.1350
  • Tokyo: +813.5408.4110
  • Sydney: +61.2.9270.8141
  • Mexico City: +001.888.779.5833
  • Buenos Aires: +0800.666.3506
  • São Paulo: +0800.891.2518
November 16, 2018

APRA has commenced a review of the capital standards for private health insurers to ensure they remain sufficient to protect policyholders. APRA will shortly commence consulting with industry and other stakeholders ahead of releasing a discussion paper on the potential revisions to the capital framework toward the middle of 2019.

The review of the capital framework for private health insurance (PHI) is the final phase of APRA’s PHI Roadmap, launched in 2016 shortly after APRA took over regulatory responsibility for the sector from the Private Health Insurance Administration Council (PHIAC):

  • Phase One was focused on risk management and took effect from April this year.
  • Phase Two was aimed at lifting standards of governance and decision-making; it was finalized in September and comes into force from July 01 next year. 
  • Phase Three of the PHI Roadmap is expected to be finalized before the end of 2020, with transition arrangements put in place to help insurers adjust to the new framework.

APRA will now turn its attention the capital framework it inherited from PHIAC to ensure it remains fit for purpose. In addition to examining whether the minimum capital requirements sufficiently support PHI resilience, APRA will consider more closely aligning the framework to the capital framework used by life and general insurers. 

 

Related Links

Keywords: Asia Pacific, Australia, Insurance, Private Health Insurers, Capital Requirements, PHI Roadmap, APRA

Related Insights
News

EBA Single Rulebook Q&A: Third Update for February 2019

EBA published answers to two questions under the Single Rulebook question and answer (Q&A) updates for this week.

February 15, 2019 WebPage Regulatory News
News

FSB Report Examines Financial Stability Implications of Fintech

FSB published a report that assesses fintech-related market developments and their potential implications for financial stability.

February 14, 2019 WebPage Regulatory News
News

US Agencies Amend Regulatory Capital Rule to Allow Phase-In for CECL

US Agencies (FDIC, FED, and OCC) adopted the final rule to address changes to credit loss accounting under the U.S. generally accepted accounting principles; this includes banking organizations’ implementation of the current expected credit losses (CECL) methodology.

February 14, 2019 WebPage Regulatory News
News

FED Issues Correction in Historical Dataset in its 2019 Stress Tests

FED identified an error in the historical dataset used in its 2019 stress tests and issued a correction.

February 13, 2019 WebPage Regulatory News
News

OCC Consults on Company-Run Stress Test Requirements for Banks

OCC proposed amendments to its company-run stress testing requirements for national banks and Federal savings associations, consistent with section 401 of the Economic Growth, Regulatory Relief, and Consumer Protection (EGRRCP) Act.

February 12, 2019 WebPage Regulatory News
News

CFTC Extends Comment Periods for Trade Execution Requirement Proposals

CFTC announced that it is extending comment period for the proposed amendments related to the regulations on swap execution facilities (SEF) and trade execution requirement.

February 12, 2019 WebPage Regulatory News
News

BCBS Updates Instructions for Basel III Monitoring Exercise

BCBS updated instructions for Basel III monitoring for the collection of December 2018 data from the participating banks.

February 12, 2019 WebPage Regulatory News
News

OCC Proposes to Renew Information Collection Under Stress Test Rule

OCC is proposing to renew its information collection titled “Annual Stress Test Rule” (OMB Control No: 1557-0311). Comments must be received on or before March 13, 2019.

February 11, 2019 WebPage Regulatory News
News

OSFI Consults on NSFR Disclosure Requirements for D-SIBs

OSFI proposed the draft guideline on the net stable funding ratio (NSFR) disclosure requirements for domestic systemically important banks (D-SIBs).

February 11, 2019 WebPage Regulatory News
News

EC Amends Its Regulation to Clarify Impairment Requirements for IFRS 9

EC published the EU Regulation 2019/237 that amends Regulation (EC) No 1126/2008 adopting certain international accounting standards, in accordance with Regulation (EC) No 1606/2002 regarding International Accounting Standard (IAS) 28 on Investments in Associates and Joint Ventures.

February 11, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 2601