The Australian Prudential Regulation Authority has provided general insurers with guidance for reporting large exposures on forms GRF 117.0 and GRF 117.0 (G).

A list of standard wordings for reporting counterparty group names and exposure descriptions is included in the update, to help insurers submit consistent data fit for analytical purposes.

“Insurers should match the exact spelling specified by these lists where applicable,” the regulator says.

Insurers are urged to comply with the reporting guidance by the December quarter. For more information, click here.