APRA Cross-Industry Prudential Standards
What is CPS 511?
At Ivory, we believe in fair and equitable remuneration that is commensurate to the market and responsibilities of the individual. This philosophy is an integral part of our overall offer to employees.
In alignment with CPS 511, the Board and the Board Remuneration and Nomination Committee oversee the Remuneration Policy. The objective of this Policy is for remuneration arrangements to appropriately incentivise individuals to prudently manage risks for which they are responsible and that there are appropriate consequences for poor risk outcomes.
APRA GPS 110
Determination of Capital Base ($’000 AUD)
Common Equity Tier (CET) 1 Capital (1): 7,580
Regulatory Adjustments to CET 1 Capital: 1,561
Capital Base: 9,141*
*Excludes Regulatory Adjustments to Common Equity Tier 1 Capital
What about GPS 110?
Ivory maintains a strong financial position, holding $9.1 million in high-quality capital. This is 183% of the regulatory minimum, as required by the Australian Prudential Regulation Authority (APRA). This means we have a significant buffer to protect policyholders, even in times of unexpected loss.
Determination of the Prescribed Capital ($’000 AUD)
Insurance Risk Charge: 985
Insurance Concentration Risk Charge: 1,200
Asset Risk Charge: 843
Operational Risk Charge: 1,498
Aggregation Benefit: (533)
Prescribed Capital Amount: 5,000
Determination of the Capital Adequacy Multiple
Capital Base: 9,141
Prescribed Capital Amount: 5,000