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Life Insurance (prudential standard) determination No. 1 of 2024
In force
Administered by
Department of the Treasury
This item is authorised by the following title:
Life Insurance Act 1995
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F2024L00884
12 July 2024
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Authority
Application and commencement
Adjustments and exclusions
Previous exercise of discretion
Interpretation
Definitions
Capital base of a life company
Common Equity Tier 1 Capital
Additional Tier 1 Capital
Tier 2 Capital
Additional Tier 1 or Tier 2 Capital issued overseas by the life company
Intra-group capital transactions
Holding of capital instruments in group members by other group members
Capital base of a statutory fund
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Capital base of a general fund
Attachment SEQ Attach \* ALPHABETIC \* MERGEFORMAT A - Criteria for classification as paid-up ordinary shares
Attachment SEQ Attach \* ALPHABETIC \* MERGEFORMAT B - Regulatory adjustments
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General rules for regulatory adjustments
Exception for assets with values linked to the value of liabilities
Holdings of own capital instruments
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Regulatory adjustments to Common Equity Tier 1 Capital
Deferred tax assets and deferred tax liabilities
Gains and losses arising from changes in own creditworthiness
Goodwill and other intangibles
Superannuation funds
Reinsurance assets
Investments in subsidiaries, joint ventures and associates
Assets under a fixed or floating charge
Liability adjustment
Fair value adjustments
Other adjustments
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Regulatory adjustments to the net assets of a statutory fund or general fund
Attachment C - Criteria for inclusion in Additional Tier 1 Capital
Attachment D - Criteria for inclusion in Tier 2 Capital
Attachment E - Loss absorption at the point of non-viability: Additional Tier 1 and Tier 2 Capital instruments
Attachment F - Definition of Adjusted Policy Liabilities
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Non-participating benefits
Definition of RFBEL
Participating benefits
Liability options and asymmetries
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Friendly societies
Attachment G - Mutual Equity Interests