APRA releases reinsurance documents
The Australian Prudential Regulation Authority (APRA) has released final documents for new reinsurance data collection requirements for general insurers.
It follows a consultation last year, which raised concerns that filing requirements would be overly complex.
Documents include a list of counterparties, documentation for reinsurance assets by counterparty, an exposure analysis form and a guide to completing the process.
The regulator says the data will help monitor reinsurance counterparty risks, which may be heightened after domestic or global catastrophes.
The information allows assessment of the potential impact of a reinsurer downgrade or failure on capital coverage, APRA says.