APRA Prudential Standard GPS 230 Reinsurance Management – An Overview and Summary of Requirements

• By: Staff Editor
• Date: June 14, 2013

This Australian Prudential Standard aims at maintaining a specific reinsurance management framework to manage the risks arising from the regulated institution’s reinsurance arrangements. It applies to insurers and Level 2 insurance group. The ultimate responsibility for the reinsurance management framework of a general insurer rests with its Board of directors; and in the case of a Level 2 insurance group, with the Board of directors of its parent entity.