What Prudential Standard LPS 110 Capital Adequacy requires
This standard requires Australian life insurance companies to maintain a capital base that exceeds their Prescribed Capital Amount (PCA) at all times, as mandated by the Life Insurance Act 1995. The core requirement, detailed in paragraph 10, is that the 'capital base' must be greater than the 'Prescribed Capital Amount' to ensure solvency and protect policyholders.
Pillar: Insurance & Risk · Authority: Australian Prudential Regulation Authority (APRA) · Version: 1.0.0 · Last updated:
Primary source: https://handbook.apra.gov.au/standard/lps-110
SHA-256 integrity: 2fb9ad6103b1a8e53ac1a44c93c325112b0e50f79a236b22bc4fdf572ceeee23
Primary Citations — 7 traced to source
- Prudential Standard LPS 110, Paragraph 10: A life company must ensure that its capital base exceeds its Prescribed Capital Amount at all times.
- Prudential Standard LPS 110, Paragraph 13: A life company must have an Internal Capital Adequacy Assessment Process (ICAAP) that is appropriate to its size, business mix and complexity.
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