Document ID: chunk:federal_register_of_legislation:F2018L00243:body:0:p6
Version: federal_register_of_legislation:F2018L00243
Segment Type: other
Provision Reference: 
Character Range: 14154–15367

requires the arrangement to be restructured as a condition of approval) to be either reinsurance or financing (as appropriate) for the purposes of:
(a)          the calculation of the life company's prescribed capital amount; and
(b)          reporting under reporting standards made under the Financial Sector (Collection of Data) Act 2001.

[1]  This report may be provided as part of another report required to be submitted to APRA (including the Financial Condition Report) or separately.
[2]  Referable Reinsurance Arrangement is defined in Attachment B.
[3]  For the avoidance of doubt, the requirement to apply for approval is on the cedant life company under the proposed arrangement, not the reinsurer.
[4]  Refer to the capital standards and reporting standards made under the Financial Sector (Collection of Data) Act 2001.
[5]  Refer to subparagraph 1(l) of Attachment A of this Prudential Standard.
[6]  Where 5(a) is not available, the life company must submit to APRA a comprehensive description of the proposed arrangement including details of any risk transfer and financing elements.
[7]  Prepared with regard to reporting standards made under the Financial Sector (Collection of Data) Act 2001.