General Insurance Prudential Standards - Australian Government

Service summary

You must comply with these standards if you operate as an authorised general insurer or authorised non-operating holding company. The Agency has enacted a collection of prudential standards to ensure authorised general insurers and authorised non-operating holding companies are operated appropriately.

The standards require insurance providers to adopt prudent practice in relation to:

  • Maintenance of required levels of capital adequate to the scale, nature and complexity of its business;
  • Insurance risk;
  • Insurance concentration risk;
  • Asset risk;
  • Asset concentration risk; and
  • Operational risk.

The standards also contain other requirements relating to:

  • The appointment of an auditor and an actuary;
  • Economic capital models;
  • Regulatory capital models; and
  • Internal capital adequacy assessment processes.

Please consult the Contact Officer for more information and to ascertain the level of compliance (if any) that may be required.

Service type

Code of Practice

A code of practice can be either a legal requirement or non-legal requirement. Legal codes of practice are defined as a result of legislation. Non-legal codes of practice are defined by industry regulators and bodies.

Administering agency

Australian Prudential Regulation Authority

Act(s) name

Insurance Act 1973 (Australian Government)

Contact details

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 2
10-12 Brisbane Ave
Barton
Australian Capital Territory 2600
Mailing address:
GPO BOX 9836
Canberra City, Australian Capital Territory 2601

Phone:

1300 558 849

Fax:

02 6213 5251
contactapra@apra.gov.au

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 26
400 George Street
Sydney
New South Wales 2000
Mailing address:
GPO BOX 9836
Sydney, Western Australia 2001

Phone:

1300 558 849

Phone:

02 9210 3000

Fax:

02 9210 3411
contactapra@apra.gov.au

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 26
400 George Street
Sydney
New South Wales 2000
Mailing address:
GPO BOX 9836
Sydney, Western Australia 2001

Phone:

1300 558 849

Phone:

08 8235 3200

Fax:

08 8235 3200
contactapra@apra.gov.au

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 9
500 Queen Street
Brisbane City
Queensland 4000
Mailing address:
GPO BOX 9836
Brisbane, Queensland 4001

Phone:

07 3001 8500

Phone:

1300 558 849

Fax:

07 3001 8501
contactapra@apra.gov.au

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 22
25 Grenfell Street
Adelaide
South Australia 5000
Mailing address:
GPO BOX 9836
Adelaide, South Australia 5001

Phone:

1300 558 849

Phone:

08 8235 3200

Fax:

08 8235 3222
contactapra@apra.gov.au

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 21, Casselden Place
2 Lonsdale Street
Melbourne
Victoria 3000
Mailing address:
GPO BOX 9836
Melbourne, Victoria 3001

Phone:

1300 558 849

Phone:

03 9246 7500

Fax:

03 9663 5085
contactapra@apra.gov.au

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 21, Casselden Place
2 Lonsdale Street
Melbourne
Victoria 3000
Mailing address:
GPO BOX 9836
Melbourne, Victoria 3001

Phone:

03 9246 7500

Phone:

1300 558 849

Fax:

03 9663 5085
contactapra@apra.gov.au

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 5
5 Mill Street
Perth
Western Australia 6000
Mailing address:
GPO BOX 9836
Perth, Western Australia 6001

Phone:

08 9420 6100

Phone:

1300 558 849

Fax:

08 9481 8142
contactapra@apra.gov.au

Supporting information

Disclaimer

The information contained on the Australian Business Licence and Information Service (ABLIS) web site, or via packages or other sources is intended for general guidance only.

To the full extent permitted by law, the Federal, State, Territory and Local Governments make no representations or warranties (expressed or implied) in relation to the information, including its accuracy, currency or completeness.

The business information provided does not constitute professional or legal advice, nor is the use of any third party resource an endorsement of the information contained, the associated organisation, product or service. It is recommended that you obtain appropriate professional and /or independent legal advice to ensure that the material provided here is relevant to your particular circumstances.

To the full extent permitted by law the Federal, State, Territory and Local Governments, their employees and agents do not accept any liability for any reason, including without limitation, liability in negligence, to any person for the general information which is provided herein, or in respect of anything, including the consequences of anything done, or not done, by any such person in whole or partial reliance upon the information.