Insurance - PricewaterhouseCoopers

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Publications continued 226 | Insurance facts and figures 2009 Talent and the finance function Cutting through the complexity This paper examines some of the practical ways that talent management could be improved to help finance teams meet unfolding challenges. Written by PricewaterhouseCoopers finance and HR specialists from around the world, the paper is based on our practical experience of working with finance functions across the financial services industry. Frequency: Ad-hoc Publication date: Dec 2008 Financial services quarterly survey – Dec 2008 The 77th CBI/PricewaterhouseCoopers financial services survey sees the industry adjusting to a rapidly worsening economic and operating environment. Levels of demand are falling fast and the outlook for revenues is unquestionably negative. The industry is entering a new phase of decisive cost cutting as it attempts to take control of its response to the downturn. Frequency: Quarterly Publication date: Dec 2008 Americas insurance digest, February 2009 The Americas insurance digest addresses the key issues driving the insurance industry Frequency: Quarterly Publication date: Feb 2009
Illustrative consolidated financial statements • • • Banking, 2006 Corporate, 2008 Insurance, 2008 • • • Investment funds, 2008 Investment property, 2006 Private equity, 2008 Realistic sets of financial statements – for existing IFRS prepares in the above sectors – illustrating the required disclosure and presentation. UK financial services regulatory focus, Spring 2009 PricewaterhouseCoopers’ financial services regulatory practice has now launched the Spring 2009 edition of UK FS regulatory focus. This publication is dedicated to providing up-to-date and authoritative insights for the UK financial services regulatory industry Frequency: Quarterly Publication date: March 2009 Asia financial services tax quarterly development report This report covers the period ended 31 Dec 2008. Authored by PwC, this report provides brief summaries of the tax changes in the Asia region that are relevant to financial services operations Frequency: Quarterly Publication date: March 2009 PricewaterhouseCoopers | 227 PwC in the insurance industry
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Insurance facts and figures 2009
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Insurance facts and figures 2009
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4 Insurance Brokers 161 Introductio
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IFRS International Financial Report
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It is with great pleasure that we w
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10 | Insurance facts and figures 20
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1.1 Statistics Top 15 general insur
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Top 10 government insurers Entity S
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Direct insurers 25% 20% 15% 10% 5%
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Reinsurers 25% 20% 15% 10% 5% 0% -5
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Total private sector 25.0% 20.0% 15
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Major Australian catastrophes Origi
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1.2 Key developments Refinements to
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1.3 Regulators of general insurance
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Regulatory framework In September 2
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Restructure of operations The Insur
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Ongoing notification obligations Li
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Table 1.3 - Summary of current GI p
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Risk management GPS 220 Risk Manage
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Risk Management Declaration (RMD) T
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Key requirements of the prudential
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The key requirements of GPS 410 are
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1.5 Solvency and capital adequacy r
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The MCR represents an allowance for
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Capital adequacy: internal model-ba
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Table 1.6 - Counterparty grades Gra
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Capital adequacy: concentration ris
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The list of assets that cannot be i
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Reinsurance Management GPS 230 aims
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The “two-month” and “six-mont
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1.7 General insurance financial rep
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In contrast, stamp duty and the Goo
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The July 2004 version of AASB 1023
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1. Income statement The income stat
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Basis for financial reporting In ge
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• The financial information lodge
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When an insurer does not adopt the
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• • • • Controls - Consider
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1.8 General insurance taxation Gene
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Liability adequacy testing Under th
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Reinsurance recoveries are assessab
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Special rules also exist for a rang
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Other levies and taxes Fire Service
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Life Insurance 2 Introduction - Ton
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This is a very difficult and challe
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Performance Financial Position: Res
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Determination of the risk free disc
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Since its establishment in 1998, AP
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• Register of representatives, i.
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Table 2.1 - Life insurance prudenti
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Risk management The key requirement
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Audit and actuarial requirements Th
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Management capital LPS6.03 Manageme
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2.7 Life insurance financial report
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Changes in the assumptions underlyi
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A MSE arises when the sum of consid
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Disclosure requirements AASB 1038 r
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In addition, a life insurer which h
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2.8 Life insurance taxation General
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Assessable income also specifically
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Capital losses from VPST assets can
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The meaning of life insurance from
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characterised as a separate policy
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3.1 Statistics Top 15 health insure
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Health insurance 60.0% 50.0% 40.0%
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3.2 Key developments Industry devel
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3.3 Regulators of health insurance
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3.4 Supervision and compliance In a
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Capital adequacy The Capital Adequa
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Other risks In addition, the standa
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3.7 Health insurance financial repo
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Deferred acquisition costs When acq
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Key dates Private Health Insurance
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3.8 Health insurance taxation Gener
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Insurance Brokers 4 Introduction -
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Insurance brokers play a vital role
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4.2 Regulators of insurance brokers
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Once ASIC has granted an AFSL pursu
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4.5 Insurance brokers financial rep
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4.6 Insurance brokers taxation Gene
Page 177: Goods and services tax Under the Au
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Page 182 and 183: • • Use of personal information
Page 184 and 185: Regulation of Direct Offshore Forei
Page 186 and 187: • a product disclosure statement
Page 188 and 189: Health insurance The Australian Gov
Page 190 and 191: 5.5 Sales practice regulation The F
Page 192 and 193: 5.6 Ability to pay claims As outlin
Page 194 and 195: 5.8 Sources of redress Financial Om
Page 197 and 198: Insurance 6 Directory 6.1 Governmen
Page 199 and 200: Motor Accident Insurance Commission
Page 201 and 202: Workplace Standards Tasmania Workpl
Page 203 and 204: Australasian Institute of Marine Su
Page 205 and 206: Australian & New Zealand Institute
Page 207 and 208: IBNA Ltd IBNA (formerly Insurance B
Page 209 and 210: Insurance Advisers Association of A
Page 211 and 212: Investment and Financial Services A
Page 213 and 214: 6.3 Complaints review services The
Page 215 and 216: General insurers authorised to cond
Page 217 and 218: General insurers authorised to cond
Page 219 and 220: Registered life insurers Swiss Re L
Page 221 and 222: Registered health insurers Police H
Page 223: Notes PricewaterhouseCoopers | 221
Page 226 and 227: PwC in the insurance industry Price
Page 230 and 231: PwC Australian offices and insuranc
Page 232: Notes 230 | Insurance facts and fig
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Insurance - PricewaterhouseCoopers

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