Australian Frameworks

Life and General Insurance Capital Standards (LAGIC)

As of 1 January 2013, Life and General Insurers are required to follow the new Life and General Insurance Capital Standards (LAGIC) introduced by APRA. There have been significant changes from the previous legislation, with further additions to the responsibilities of the Appointed Actuary.

The standards come in response to the significant changes in legislation post GFC and aim to bridge the gap between different standards across industries. LAGIC has strong parallels to Solvency II and the ADI reporting standards, with the three pillars approach and the ICAAP (Internal Capital Adequacy Assessment Process).

Life Insurance

APRA have prudential standards and guidance notes to assist Life Insurers in establishing appropriate risk based measures and capital management. Particular risk management standards include:

General Insurance

APRA have prudential standards and guidance notes to assist General Insurers in establishing appropriate risk based measures and capital management. Particular risk management standards include:

Keynote and Plenary Speakers

Annie TayJasmine LeeMatt HodsonGreg MartinJoseph WongRamani Venkatramani