Proposed changes to the role of appointed actuaries in insurance will be finalised in the first half of this year, the Australian Prudential Regulation Authority (APRA) says in a paper outlining its policy priorities this year.

APRA also intends to update aspects of the reinsurance framework for life insurers, including approval requirements for certain types of reinsurance arrangement and the treatment of exposures to offshore reinsurers.

“APRA’s policy agenda for the insurance sector remains stable,” the regulator says.

The paper also covers priorities for other sectors under APRA supervision.