APRA retires two prudential practice guides for insurers

APRA has retired two prudential practice guides for general and life insurers as it looks to consolidate the regulatory framework.  

The guides (GPG 250 and LPG 250) were created in 2006 and 2007. APRA argues that both provide high level guidance on elements that would typically be included in a risk management framework and have served the purpose of lifting industry practice.  

The guides will be retired immediately, and APRA-regulated institutions can find expectations around risk management in Prudential Standard CPS 220, including those outlined in GPG 250 and LPG 250.