{"id":"F2005L01661","name":"Financial Sector (Collection of Data) determination No. 23 of 2005","slug":"financial-sector-collection-of-data-determination-no-23-of-2005","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":35689,"registerId":"commonwealth-F2005L01661-current","compilationNumber":null,"startDate":"2026-04-01","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Reporting Standard GRS 400.0 (2005)","sectionType":"part","heading":"Reporting Standard GRS 400.0 (2005)","content":"## Reporting Standard GRS 400.0 (2005)","sortOrder":0},{"sectionNumber":"Statement of Risk by Country","sectionType":"part","heading":"Statement of Risk by Country","content":"# Statement of Risk by Country\n\n### Objective of this reporting standard\n\nThis reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001 (the Collection of Data Act). It requires general insurers (insurers), including foreign general insurers (foreign insurers) operating in Australia through branch operations, to report to APRA, generally on an annual basis, financial exposure by country or region.\n\nThis reporting standard outlines the overall requirements for the provision of this information to APRA. It should be read in conjunction with:\n\n-   the versions of Form GRF 400.0 Statement of Risk by Country (Form GRF 400.0) designated for a ‘Licensed Insurer’ and ‘Consolidated Insurance Group’ and the instructions to those versions of the form (which are attached and all form part of this reporting standard).\n\n# Purpose\n\n1.  Data collected in each version of Form GRF 400.0 is used by APRA for the purpose of prudential supervision of insurers.\n\n# Application and commencement\n\n2. This reporting standard applies to all insurers and shall begin to apply to those entities on the later of 1 July 2005 and the date of registration on the Federal Register of Legislative Instruments.\n\n# Information required\n\n3. An insurer must provide APRA with the information required by the version of Form GRF 400.0 designated for a ‘Licensed Insurer’ for each reporting period.\n\n4. An insurer that is a highest parent entity in relation to a consolidated insurance group must also provide APRA with the information required by the version of Form GRF 400.0 designated for a ‘Consolidated Insurance Group’ for each reporting period.\n\n# Forms and method of submission\n\n5. The information required by this reporting standard must be given to APRA either:\n\n(a) in electronic form, using one of the electronic submission mechanisms provided by the ‘Direct to APRA’ (also known as ‘D2A’) application; or\n\n(b) manually completed on paper, which must be faxed or mailed to APRA’s head office.\n\nNote: the Direct to APRA application software and paper forms may be obtained from APRA.\n\nReporting periods and due dates\n\n6. Subject to paragraph 7, an insurer must provide the information required by this reporting standard in respect of each financial year (within the meaning of the Corporations Act 2001) of the insurer.\n\nNote: APRA proposes to determine exemptions, under section 7 of the Insurance Act 1973 (Insurance Act), from the obligations under Part IV Division 4 of the Insurance Act in respect of the auditing of information provided under this reporting standard.\n\n7. APRA may, by notice in writing, change the reporting periods, or specified reporting periods, for a particular insurer to require it to provide the information:\n\n(a) more frequently (if, having regard to the particular circumstances of the insurer, APRA considers it necessary or desirable to obtain information more frequently for the purposes of the prudential supervision of the insurer); or\n\n(b) less frequently (if, having regard to the particular circumstances of the insurer and the extent to which it requires prudential supervision, APRA considers it unnecessary to require the insurer to provide the information as frequently as provided by paragraph 6).\n\n8. The information required by paragraphs 3 and 4 of this reporting standard must be provided to APRA 4 months after the end of the reporting period to which the information relates.\n\n9. APRA may grant an insurer an extension of a due date in writing, in which case the new due date for the provision of the information will be the date on the notice of extension.\n\n# Authorisation\n\n10. The information provided by an insurer under this reporting standard must be subject to processes and controls developed by the insurer for the internal review and authorisation of that information. It is the responsibility of the board and senior management of the insurer to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.\n\n11. If an insurer submits information under this reporting standard using the ‘Direct to APRA’ software, it will be necessary for an officer of the insurer to digitally sign, authorise and encrypt the relevant data. For this purpose, APRA’s certificate authority will issue ‘digital certificates’, for use with the software, to officers of the insurer who have authority from the insurer to transmit the data to APRA.\n\n12. If information under this reporting standard is provided in paper form, it must be signed on the front page of the relevant completed form by either:\n\n(a) the Principal Executive Officer of the insurer; or\n\n(b) the Chief Financial Officer of the insurer (whatever his or her official title may be).\n\n# Minor alterations to forms and instructions\n\n13. APRA may make minor variations to:\n\n> (a) a form that is part of this reporting standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or\n\n> (b) the instructions to a form, to clarify their application to the form\n\n> without changing any substantive requirement in the form or instructions.\n\n> 14. If APRA makes such a variation it must notify insurers in writing.\n\nTransitional\n\n15. If a reporting period of an insurer ended on 30 June 2005, or ends after that date, the insurer must report under this reporting standard in respect of that reporting period.\n\nInterpretation\n\n16. In this reporting standard:\n\nAccounting Standard AASB 1024 means the accounting standard so designated made by the Australian Accounting Standards Board, being the accounting standard that applied in respect of reporting periods (within the meaning of that accounting standard) commencing immediately before 1 January 2005;\n\napproved auditor means an auditor who has been approved by APRA under section 40 of the Insurance Act;\n\nconsolidated insurance group means a group comprising:\n\n(a) an insurer that is a highest parent entity; and\n\n(b) each subsidiary under the control (within the meaning of Accounting Standard AASB 1024) of that insurer, whether the subsidiary is incorporated in Australia or not;\n\nforeign insurer means a foreign general insurer within the meaning of the Insurance Act;\n\nNote: A reference to a ‘branch’ or ‘branch operation’ is a reference to the Australian operations of a foreign insurer.\n\nhighest parent entity means an insurer that satisfies all of the following conditions:\n\n(a) it is incorporated in Australia;\n\n(b) it has at least one subsidiary under its control (within the meaning of Accounting Standard AASB 1024); and\n\n(c) it is not itself a subsidiary of an insurer that is incorporated in Australia;\n\nInsurance Act means the Insurance Act 1973;\n\ninsurer means a general insurer within the meaning of the Insurance Act;\n\nNote: In the forms and instructions, a reference to an ‘authorised insurer’, ‘authorised insurance entity’ or ‘licensed insurer’ is a reference to an insurer, and a reference to an ‘authorised reinsurance entity’ is a reference to an insurer whose business consists only of undertaking liability by way of reinsurance.\n\nPrincipal Executive Officer means the principal executive officer of the insurer for the time being, by whatever name called, and whether or not he or she is a member of the governing board of the insurer;\n\nreporting period means a period mentioned in paragraph 6 or, if applicable, paragraph 7.","sortOrder":1},{"sectionNumber":"Objective of this reporting standard","sectionType":"division","heading":"Objective of this reporting standard","content":"### Objective of this reporting standard\n\nThis reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001 (the Collection of Data Act). It requires general insurers (insurers), including foreign general insurers (foreign insurers) operating in Australia through branch operations, to report to APRA, generally on an annual basis, financial exposure by country or region.\n\nThis reporting standard outlines the overall requirements for the provision of this information to APRA. It should be read in conjunction with:\n\n-   the versions of Form GRF 400.0 Statement of Risk by Country (Form GRF 400.0) designated for a ‘Licensed Insurer’ and ‘Consolidated Insurance Group’ and the instructions to those versions of the form (which are attached and all form part of this reporting standard).","sortOrder":2},{"sectionNumber":"Purpose","sectionType":"part","heading":"Purpose","content":"# Purpose\n\n1.  Data collected in each version of Form GRF 400.0 is used by APRA for the purpose of prudential supervision of insurers.","sortOrder":3},{"sectionNumber":"Application and commencement","sectionType":"part","heading":"Application and commencement","content":"# Application and commencement\n\n2. This reporting standard applies to all insurers and shall begin to apply to those entities on the later of 1 July 2005 and the date of registration on the Federal Register of Legislative Instruments.","sortOrder":4},{"sectionNumber":"Information required","sectionType":"part","heading":"Information required","content":"# Information required\n\n3. An insurer must provide APRA with the information required by the version of Form GRF 400.0 designated for a ‘Licensed Insurer’ for each reporting period.\n\n4. An insurer that is a highest parent entity in relation to a consolidated insurance group must also provide APRA with the information required by the version of Form GRF 400.0 designated for a ‘Consolidated Insurance Group’ for each reporting period.","sortOrder":5},{"sectionNumber":"Forms and method of submission","sectionType":"part","heading":"Forms and method of submission","content":"# Forms and method of submission\n\n5. The information required by this reporting standard must be given to APRA either:\n\n(a) in electronic form, using one of the electronic submission mechanisms provided by the ‘Direct to APRA’ (also known as ‘D2A’) application; or\n\n(b) manually completed on paper, which must be faxed or mailed to APRA’s head office.\n\nNote: the Direct to APRA application software and paper forms may be obtained from APRA.\n\nReporting periods and due dates\n\n6. Subject to paragraph 7, an insurer must provide the information required by this reporting standard in respect of each financial year (within the meaning of the Corporations Act 2001) of the insurer.\n\nNote: APRA proposes to determine exemptions, under section 7 of the Insurance Act 1973 (Insurance Act), from the obligations under Part IV Division 4 of the Insurance Act in respect of the auditing of information provided under this reporting standard.\n\n7. APRA may, by notice in writing, change the reporting periods, or specified reporting periods, for a particular insurer to require it to provide the information:\n\n(a) more frequently (if, having regard to the particular circumstances of the insurer, APRA considers it necessary or desirable to obtain information more frequently for the purposes of the prudential supervision of the insurer); or\n\n(b) less frequently (if, having regard to the particular circumstances of the insurer and the extent to which it requires prudential supervision, APRA considers it unnecessary to require the insurer to provide the information as frequently as provided by paragraph 6).\n\n8. The information required by paragraphs 3 and 4 of this reporting standard must be provided to APRA 4 months after the end of the reporting period to which the information relates.\n\n9. APRA may grant an insurer an extension of a due date in writing, in which case the new due date for the provision of the information will be the date on the notice of extension.","sortOrder":6},{"sectionNumber":"Authorisation","sectionType":"part","heading":"Authorisation","content":"# Authorisation\n\n10. The information provided by an insurer under this reporting standard must be subject to processes and controls developed by the insurer for the internal review and authorisation of that information. It is the responsibility of the board and senior management of the insurer to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.\n\n11. If an insurer submits information under this reporting standard using the ‘Direct to APRA’ software, it will be necessary for an officer of the insurer to digitally sign, authorise and encrypt the relevant data. For this purpose, APRA’s certificate authority will issue ‘digital certificates’, for use with the software, to officers of the insurer who have authority from the insurer to transmit the data to APRA.\n\n12. If information under this reporting standard is provided in paper form, it must be signed on the front page of the relevant completed form by either:\n\n(a) the Principal Executive Officer of the insurer; or\n\n(b) the Chief Financial Officer of the insurer (whatever his or her official title may be).","sortOrder":7},{"sectionNumber":"Minor alterations to forms and instructi","sectionType":"part","heading":"Minor alterations to forms and instructions","content":"# Minor alterations to forms and instructions\n\n13. APRA may make minor variations to:\n\n> (a) a form that is part of this reporting standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or\n\n> (b) the instructions to a form, to clarify their application to the form\n\n> without changing any substantive requirement in the form or instructions.\n\n> 14. If APRA makes such a variation it must notify insurers in writing.\n\nTransitional\n\n15. If a reporting period of an insurer ended on 30 June 2005, or ends after that date, the insurer must report under this reporting standard in respect of that reporting period.\n\nInterpretation\n\n16. In this reporting standard:\n\nAccounting Standard AASB 1024 means the accounting standard so designated made by the Australian Accounting Standards Board, being the accounting standard that applied in respect of reporting periods (within the meaning of that accounting standard) commencing immediately before 1 January 2005;\n\napproved auditor means an auditor who has been approved by APRA under section 40 of the Insurance Act;\n\nconsolidated insurance group means a group comprising:\n\n(a) an insurer that is a highest parent entity; and\n\n(b) each subsidiary under the control (within the meaning of Accounting Standard AASB 1024) of that insurer, whether the subsidiary is incorporated in Australia or not;\n\nforeign insurer means a foreign general insurer within the meaning of the Insurance Act;\n\nNote: A reference to a ‘branch’ or ‘branch operation’ is a reference to the Australian operations of a foreign insurer.\n\nhighest parent entity means an insurer that satisfies all of the following conditions:\n\n(a) it is incorporated in Australia;\n\n(b) it has at least one subsidiary under its control (within the meaning of Accounting Standard AASB 1024); and\n\n(c) it is not itself a subsidiary of an insurer that is incorporated in Australia;\n\nInsurance Act means the Insurance Act 1973;\n\ninsurer means a general insurer within the meaning of the Insurance Act;\n\nNote: In the forms and instructions, a reference to an ‘authorised insurer’, ‘authorised insurance entity’ or ‘licensed insurer’ is a reference to an insurer, and a reference to an ‘authorised reinsurance entity’ is a reference to an insurer whose business consists only of undertaking liability by way of reinsurance.\n\nPrincipal Executive Officer means the principal executive officer of the insurer for the time being, by whatever name called, and whether or not he or she is a member of the governing board of the insurer;\n\nreporting period means a period mentioned in paragraph 6 or, if applicable, paragraph 7.","sortOrder":8},{"sectionNumber":"Reporting Form GRF 400.0","sectionType":"part","heading":"Reporting Form GRF 400.0","content":"## Reporting Form GRF 400.0\n\n## Statement of Risk by Country\n\n# Instruction Guide\n\n### Introduction\n\nThis form provides selected information of business written by authorised general insurers outside Australia; namely:\n\n-   premium revenue;\n\n-   reinsurance and claims expense;\n-   claims expense;\n-   reinsurance recoveries;\n-   investment income;\n-   premium liabilities;\n-   outstanding claims provision;\n-   borrowings/funding;\n-   expected reinsurance recoveries; and\n-   investments.\n\nThis form only needs to be completed where the insurer has business operations outside of Australia (i.e. where they have items of income, expense or assets, liabilities or capital outside of Australia as defined in this instructions set).\n\nAudit requirements\n\nThe information provided under the form is not required to be audited and has been exempted from the definition of ‘yearly statutory accounts’.\n\nReporting entities\n\nForms are to be completed for the following reporting entities where appropriate:\n\n1.  Branch operations of a foreign parent insurer (reference to licensed insurer in the form means total operations of the branch, excluding the parent operations);\n2.  Authorised insurance entities, including mutual entities (reference to licensed insurer in the form means total operations of the licensed entity);\n3.  Authorised reinsurance entities (reference to licensed insurer in the form means total operations of the licensed entity); and\n4.  Consolidated insurance groups.\n\nNote: the form for the consolidated insurance group is only required to complete the information requirements on the form. No risk change is applied to the consolidated insurance group at this stage.\n\nFor the purposes of APRA prudential reporting, the consolidated insurance group is interpreted as the accounts incorporating the highest parent entity in a group structure, that is an Australian authorised general insurance entity (for the purposes of the Insurance Act 1973), and includes all subsidiaries, associates and joint ventures (registered both in Australia and overseas) of that parent entity.\n\nFor the purposes of this form, the highest parent entity in the corporate group does not include a company (e.g. non-operating holding company) that is not an authorised general insurance entity.\n\nDefinition of subsidiaries should be consistent with the requirements of Australian accounting standards AASB 1024 ‘Consolidated Accounts’ and definition of associates should be consistent with AASB 1016 ‘Accounting for Investments in Associates’.\n\nExemptions from the Consolidated Insurance Group requirements\n\n-   Australian authorised insurers which do not have any subsidiaries are not required to complete the forms for this reporting unit.\n-   Australian authorised insurers which have subsidiaries, but the financial position of the consolidated insurance group is not materially different from that of the licensed insurance entity, are not required to complete the forms for this reporting unit (i.e. the subsidiaries do not have any material dealings/balances).\n\nBasis of preparation\n\nIn completing this form, unless otherwise specifically stated, insurers are recommended to adopt the measurement and recognition requirements as required by the prudential reporting framework, as appropriate (i.e. outstanding claims provision and premium liabilities).\n\nUnit of measurement\n\nThis form is to be presented in Australian currency, rounded to thousands of dollars, with no decimal place.\n\nAs a general rule, amounts denominated in foreign currency are to be converted to AUD in accordance with the requirements of the Australian accounting standards, notably AASB 1012 ‘Foreign Currency Translation’.\n\nReporting period\n\nInsurers are required to report the information in the reporting form on an annual basis.\n\n-   The annual information is to be completed in respect of the financial year of the insurer.\n-   The financial information requested in this form is to be reported as at the last day of the reporting period on a financial year to date basis of the insurer. See the Reporting Requirements table for details.\n\nReporting lag\n\nThis form must be lodged for each of the reporting units within the number of business days after the end of the quarter as set out in the Reporting Requirements table.\n\n###   \nSpecific instructions\n\nThe appropriate information is to be reported by country or geographic region specified on the form, based on the location of where the items of income/expense are earned/incurred and assets and liabilities are invested or located. Enter the relevant details for each country as appropriate.\n\nItems are to be interpreted (measured and recognised) consistently as with other forms.\n\n###### 1. Premium Revenue - Direct & Inward treaty\n\nThis is the premium revenue (written) over the reporting period. It is to be reported in respect of total direct business and inward reinsurance business.\n\n###### 2. Reinsurance expense - Direct & Inward treaty\n\nPremium ceded to reinsurers is recognised fully as an expense when contracted (i.e. it is not to be amortised in accordance with the pattern of reinsurance service received). A spilt between direct and inward treaty business is required.\n\n###### 3. Claims Expense - Direct & Inward treaty\n\n###### 3.1 Relating to outstanding claims provision:\n\nRepresents claims expense in relation to claims incurred/reported relating to current year and prior years (i.e. the outstanding claims provision) as recognised in GRF 430.0 Claims Expense by State and Territory of Australia, disclosed into the applicable country.\n\n###### 3.2 Relating to Premium Liabilities:\n\nRepresents claims expense in relation to movements in the premium liabilities (relating to future years, disclosed into the applicable country).\n\n###### 4. Reinsurance recoveries:\n\n###### 4.1 Relating to outstanding claims provision:\n\nReport the reinsurance recoveries that relate to claims incurred and paid (i.e. relating to claims recognised in relation to current and prior years).\n\n###### 4.2 Relating to premium liabilities recognised:\n\nReport movement in the value of expected reinsurance recoveries that are recognised in relation to the recognition of premium liabilities (i.e. relating to potential claims arising in future years and whether these are covered by reinsurance agreements).\n\n###### 5. Investment Income - Interest/dividend/rent\n\nInclude investment income as recognised in the statement of financial performance for the reporting period, disclosed into the applicable country in which the investment income was earned.\n\n###### 6. Expected Reinsurance Recoveries\n\n“Expected reinsurance recoveries” is the term used to describe the value of potential future liabilities recognised as “Premium Liabilities” (in accordance with GPS 210 Liability Valuation for General Insurers) that are expected to be recovered under reinsurance contracts.\n\nReport the value of Expected Reinsurance Recoveries that is attributable to the respective countries listed.\n\n###### 7. Other reinsurance recoveries\n\nReport the value of all other reinsurance recoveries (other than Expected Reinsurance Recoveries), in the appropriate columns for the respective countries.\n\n###### 8. Investments\n\nReport the value of the investments portfolio that is attributable to the respective countries listed.\n\n###### 9. Other assets\n\nReport the value of other assets (other than those listed above) attributable to the respective countries listed in the form. The value of “Other Assets” must represent the remaining total assets of the reporting insurer.\n\n###### 10. Total Assets\n\nRepresent the total assets of the reporting insurer and must reconcile to the total assets as reported in GRF 300.0 Statement of Financial Position.\n\n###### 11. Premium Liability\n\nThe amount reported is to be measured in accordance with GPS 210 Liability Valuation for General Insurers.\n\n###### 12. Outstanding Claims Provision\n\nThis is the insurer’s liability for outstanding claims and recognises the potential cost to the insurer of settling claims which it has incurred at the reporting date but which have not been finalised. The amount reported is without deducting reinsurance and other recoveries and is to be measured in accordance with GPS 210 Liability Valuation for General Insurers.\n\nThe liability is in respect of both direct business and inward reinsurance business and is to be measured at the present value of the expected future payments. It must take into account unpaid claims, unreported claims, claims incurred but not reported, adjustments for claims development and claims incurred but not enough reported and the direct and indirect claims settlement costs that the insurer expects to incur in settling its outstanding claims.\n\n###### 13. Borrowings/loan capital\n\nReport the carrying value of any borrowings raised in the appropriate column for the respective countries.\n\n###### 14. Other liabilities\n\nReport the value of other liabilities (other than those listed above) attributable to the respective countries listed in the form. The value of “Other Liabilities” must represent the remaining total liabilities of the reporting insurer.\n\n###### 15. Total Liabilities\n\nRepresent the total assets of the reporting insurer and must reconcile to the total assets as reported in GRF 300.0 Statement of Financial Position.","sortOrder":9},{"sectionNumber":"Instruction Guide","sectionType":"part","heading":"Instruction Guide","content":"## Reporting Form GRF 400.0\n\n## Statement of Risk by Country\n\n# Instruction Guide\n\n### Introduction\n\nThis form provides selected information of business written by authorised general insurers outside Australia; namely:\n\n-   premium revenue;\n\n-   reinsurance and claims expense;\n-   claims expense;\n-   reinsurance recoveries;\n-   investment income;\n-   premium liabilities;\n-   outstanding claims provision;\n-   borrowings/funding;\n-   expected reinsurance recoveries; and\n-   investments.\n\nThis form only needs to be completed where the insurer has business operations outside of Australia (i.e. where they have items of income, expense or assets, liabilities or capital outside of Australia as defined in this instructions set).\n\nAudit requirements\n\nThe information provided under the form is not required to be audited and has been exempted from the definition of ‘yearly statutory accounts’.\n\nReporting entities\n\nForms are to be completed for the following reporting entities where appropriate:\n\n1.  Branch operations of a foreign parent insurer (reference to licensed insurer in the form means total operations of the branch, excluding the parent operations);\n2.  Authorised insurance entities, including mutual entities (reference to licensed insurer in the form means total operations of the licensed entity);\n3.  Authorised reinsurance entities (reference to licensed insurer in the form means total operations of the licensed entity); and\n4.  Consolidated insurance groups.\n\nNote: the form for the consolidated insurance group is only required to complete the information requirements on the form. No risk change is applied to the consolidated insurance group at this stage.\n\nFor the purposes of APRA prudential reporting, the consolidated insurance group is interpreted as the accounts incorporating the highest parent entity in a group structure, that is an Australian authorised general insurance entity (for the purposes of the Insurance Act 1973), and includes all subsidiaries, associates and joint ventures (registered both in Australia and overseas) of that parent entity.\n\nFor the purposes of this form, the highest parent entity in the corporate group does not include a company (e.g. non-operating holding company) that is not an authorised general insurance entity.\n\nDefinition of subsidiaries should be consistent with the requirements of Australian accounting standards AASB 1024 ‘Consolidated Accounts’ and definition of associates should be consistent with AASB 1016 ‘Accounting for Investments in Associates’.\n\nExemptions from the Consolidated Insurance Group requirements\n\n-   Australian authorised insurers which do not have any subsidiaries are not required to complete the forms for this reporting unit.\n-   Australian authorised insurers which have subsidiaries, but the financial position of the consolidated insurance group is not materially different from that of the licensed insurance entity, are not required to complete the forms for this reporting unit (i.e. the subsidiaries do not have any material dealings/balances).\n\nBasis of preparation\n\nIn completing this form, unless otherwise specifically stated, insurers are recommended to adopt the measurement and recognition requirements as required by the prudential reporting framework, as appropriate (i.e. outstanding claims provision and premium liabilities).\n\nUnit of measurement\n\nThis form is to be presented in Australian currency, rounded to thousands of dollars, with no decimal place.\n\nAs a general rule, amounts denominated in foreign currency are to be converted to AUD in accordance with the requirements of the Australian accounting standards, notably AASB 1012 ‘Foreign Currency Translation’.\n\nReporting period\n\nInsurers are required to report the information in the reporting form on an annual basis.\n\n-   The annual information is to be completed in respect of the financial year of the insurer.\n-   The financial information requested in this form is to be reported as at the last day of the reporting period on a financial year to date basis of the insurer. See the Reporting Requirements table for details.\n\nReporting lag\n\nThis form must be lodged for each of the reporting units within the number of business days after the end of the quarter as set out in the Reporting Requirements table.\n\n###   \nSpecific instructions\n\nThe appropriate information is to be reported by country or geographic region specified on the form, based on the location of where the items of income/expense are earned/incurred and assets and liabilities are invested or located. Enter the relevant details for each country as appropriate.\n\nItems are to be interpreted (measured and recognised) consistently as with other forms.\n\n###### 1. Premium Revenue - Direct & Inward treaty\n\nThis is the premium revenue (written) over the reporting period. It is to be reported in respect of total direct business and inward reinsurance business.\n\n###### 2. Reinsurance expense - Direct & Inward treaty\n\nPremium ceded to reinsurers is recognised fully as an expense when contracted (i.e. it is not to be amortised in accordance with the pattern of reinsurance service received). A spilt between direct and inward treaty business is required.\n\n###### 3. Claims Expense - Direct & Inward treaty\n\n###### 3.1 Relating to outstanding claims provision:\n\nRepresents claims expense in relation to claims incurred/reported relating to current year and prior years (i.e. the outstanding claims provision) as recognised in GRF 430.0 Claims Expense by State and Territory of Australia, disclosed into the applicable country.\n\n###### 3.2 Relating to Premium Liabilities:\n\nRepresents claims expense in relation to movements in the premium liabilities (relating to future years, disclosed into the applicable country).\n\n###### 4. Reinsurance recoveries:\n\n###### 4.1 Relating to outstanding claims provision:\n\nReport the reinsurance recoveries that relate to claims incurred and paid (i.e. relating to claims recognised in relation to current and prior years).\n\n###### 4.2 Relating to premium liabilities recognised:\n\nReport movement in the value of expected reinsurance recoveries that are recognised in relation to the recognition of premium liabilities (i.e. relating to potential claims arising in future years and whether these are covered by reinsurance agreements).\n\n###### 5. Investment Income - Interest/dividend/rent\n\nInclude investment income as recognised in the statement of financial performance for the reporting period, disclosed into the applicable country in which the investment income was earned.\n\n###### 6. Expected Reinsurance Recoveries\n\n“Expected reinsurance recoveries” is the term used to describe the value of potential future liabilities recognised as “Premium Liabilities” (in accordance with GPS 210 Liability Valuation for General Insurers) that are expected to be recovered under reinsurance contracts.\n\nReport the value of Expected Reinsurance Recoveries that is attributable to the respective countries listed.\n\n###### 7. Other reinsurance recoveries\n\nReport the value of all other reinsurance recoveries (other than Expected Reinsurance Recoveries), in the appropriate columns for the respective countries.\n\n###### 8. Investments\n\nReport the value of the investments portfolio that is attributable to the respective countries listed.\n\n###### 9. Other assets\n\nReport the value of other assets (other than those listed above) attributable to the respective countries listed in the form. The value of “Other Assets” must represent the remaining total assets of the reporting insurer.\n\n###### 10. Total Assets\n\nRepresent the total assets of the reporting insurer and must reconcile to the total assets as reported in GRF 300.0 Statement of Financial Position.\n\n###### 11. Premium Liability\n\nThe amount reported is to be measured in accordance with GPS 210 Liability Valuation for General Insurers.\n\n###### 12. Outstanding Claims Provision\n\nThis is the insurer’s liability for outstanding claims and recognises the potential cost to the insurer of settling claims which it has incurred at the reporting date but which have not been finalised. The amount reported is without deducting reinsurance and other recoveries and is to be measured in accordance with GPS 210 Liability Valuation for General Insurers.\n\nThe liability is in respect of both direct business and inward reinsurance business and is to be measured at the present value of the expected future payments. It must take into account unpaid claims, unreported claims, claims incurred but not reported, adjustments for claims development and claims incurred but not enough reported and the direct and indirect claims settlement costs that the insurer expects to incur in settling its outstanding claims.\n\n###### 13. Borrowings/loan capital\n\nReport the carrying value of any borrowings raised in the appropriate column for the respective countries.\n\n###### 14. Other liabilities\n\nReport the value of other liabilities (other than those listed above) attributable to the respective countries listed in the form. The value of “Other Liabilities” must represent the remaining total liabilities of the reporting insurer.\n\n###### 15. Total Liabilities\n\nRepresent the total assets of the reporting insurer and must reconcile to the total assets as reported in GRF 300.0 Statement of Financial Position.","sortOrder":11},{"sectionNumber":"Introduction","sectionType":"division","heading":"Introduction","content":"### Introduction\n\nThis form provides selected information of business written by authorised general insurers outside Australia; namely:\n\n-   premium revenue;\n\n-   reinsurance and claims expense;\n-   claims expense;\n-   reinsurance recoveries;\n-   investment income;\n-   premium liabilities;\n-   outstanding claims provision;\n-   borrowings/funding;\n-   expected reinsurance recoveries; and\n-   investments.\n\nThis form only needs to be completed where the insurer has business operations outside of Australia (i.e. where they have items of income, expense or assets, liabilities or capital outside of Australia as defined in this instructions set).\n\nAudit requirements\n\nThe information provided under the form is not required to be audited and has been exempted from the definition of ‘yearly statutory accounts’.\n\nReporting entities\n\nForms are to be completed for the following reporting entities where appropriate:\n\n1.  Branch operations of a foreign parent insurer (reference to licensed insurer in the form means total operations of the branch, excluding the parent operations);\n2.  Authorised insurance entities, including mutual entities (reference to licensed insurer in the form means total operations of the licensed entity);\n3.  Authorised reinsurance entities (reference to licensed insurer in the form means total operations of the licensed entity); and\n4.  Consolidated insurance groups.\n\nNote: the form for the consolidated insurance group is only required to complete the information requirements on the form. No risk change is applied to the consolidated insurance group at this stage.\n\nFor the purposes of APRA prudential reporting, the consolidated insurance group is interpreted as the accounts incorporating the highest parent entity in a group structure, that is an Australian authorised general insurance entity (for the purposes of the Insurance Act 1973), and includes all subsidiaries, associates and joint ventures (registered both in Australia and overseas) of that parent entity.\n\nFor the purposes of this form, the highest parent entity in the corporate group does not include a company (e.g. non-operating holding company) that is not an authorised general insurance entity.\n\nDefinition of subsidiaries should be consistent with the requirements of Australian accounting standards AASB 1024 ‘Consolidated Accounts’ and definition of associates should be consistent with AASB 1016 ‘Accounting for Investments in Associates’.\n\nExemptions from the Consolidated Insurance Group requirements\n\n-   Australian authorised insurers which do not have any subsidiaries are not required to complete the forms for this reporting unit.\n-   Australian authorised insurers which have subsidiaries, but the financial position of the consolidated insurance group is not materially different from that of the licensed insurance entity, are not required to complete the forms for this reporting unit (i.e. the subsidiaries do not have any material dealings/balances).\n\nBasis of preparation\n\nIn completing this form, unless otherwise specifically stated, insurers are recommended to adopt the measurement and recognition requirements as required by the prudential reporting framework, as appropriate (i.e. outstanding claims provision and premium liabilities).\n\nUnit of measurement\n\nThis form is to be presented in Australian currency, rounded to thousands of dollars, with no decimal place.\n\nAs a general rule, amounts denominated in foreign currency are to be converted to AUD in accordance with the requirements of the Australian accounting standards, notably AASB 1012 ‘Foreign Currency Translation’.\n\nReporting period\n\nInsurers are required to report the information in the reporting form on an annual basis.\n\n-   The annual information is to be completed in respect of the financial year of the insurer.\n-   The financial information requested in this form is to be reported as at the last day of the reporting period on a financial year to date basis of the insurer. See the Reporting Requirements table for details.\n\nReporting lag\n\nThis form must be lodged for each of the reporting units within the number of business days after the end of the quarter as set out in the Reporting Requirements table.","sortOrder":12},{"sectionNumber":"Specific instructions","sectionType":"division","heading":"Specific instructions","content":"###   \nSpecific instructions\n\nThe appropriate information is to be reported by country or geographic region specified on the form, based on the location of where the items of income/expense are earned/incurred and assets and liabilities are invested or located. Enter the relevant details for each country as appropriate.\n\nItems are to be interpreted (measured and recognised) consistently as with other forms.","sortOrder":13},{"sectionNumber":"1. Premium Revenue - Direct & Inward tre","sectionType":"section","heading":"1. Premium Revenue - Direct & Inward treaty","content":"###### 1. Premium Revenue - Direct & Inward treaty\n\nThis is the premium revenue (written) over the reporting period. It is to be reported in respect of total direct business and inward reinsurance business.","sortOrder":14},{"sectionNumber":"2. Reinsurance expense - Direct & Inward","sectionType":"section","heading":"2. Reinsurance expense - Direct & Inward treaty","content":"###### 2. Reinsurance expense - Direct & Inward treaty\n\nPremium ceded to reinsurers is recognised fully as an expense when contracted (i.e. it is not to be amortised in accordance with the pattern of reinsurance service received). A spilt between direct and inward treaty business is required.","sortOrder":15},{"sectionNumber":"3. Claims Expense - Direct & Inward trea","sectionType":"section","heading":"3. Claims Expense - Direct & Inward treaty","content":"## Reporting Form GRF 400.0\n\n## Statement of Risk by Country\n\n# Instruction Guide\n\n### Introduction\n\nThis form provides selected information of business written by authorised general insurers outside Australia; namely:\n\n-   premium revenue;\n\n-   reinsurance and claims expense;\n-   claims expense;\n-   reinsurance recoveries;\n-   investment income;\n-   premium liabilities;\n-   outstanding claims provision;\n-   borrowings/funding;\n-   expected reinsurance recoveries; and\n-   investments.\n\nThis form only needs to be completed where the insurer has business operations outside of Australia (i.e. where they have items of income, expense or assets, liabilities or capital outside of Australia as defined in this instructions set).\n\nAudit requirements\n\nThe information provided under the form is not required to be audited and has been exempted from the definition of ‘yearly statutory accounts’.\n\nReporting entities\n\nForms are to be completed for the following reporting entities where appropriate:\n\n1.  Branch operations of a foreign parent insurer (reference to licensed insurer in the form means total operations of the branch, excluding the parent operations);\n2.  Authorised insurance entities, including mutual entities (reference to licensed insurer in the form means total operations of the licensed entity);\n3.  Authorised reinsurance entities (reference to licensed insurer in the form means total operations of the licensed entity); and\n4.  Consolidated insurance groups.\n\nNote: the form for the consolidated insurance group is only required to complete the information requirements on the form. No risk change is applied to the consolidated insurance group at this stage.\n\nFor the purposes of APRA prudential reporting, the consolidated insurance group is interpreted as the accounts incorporating the highest parent entity in a group structure, that is an Australian authorised general insurance entity (for the purposes of the Insurance Act 1973), and includes all subsidiaries, associates and joint ventures (registered both in Australia and overseas) of that parent entity.\n\nFor the purposes of this form, the highest parent entity in the corporate group does not include a company (e.g. non-operating holding company) that is not an authorised general insurance entity.\n\nDefinition of subsidiaries should be consistent with the requirements of Australian accounting standards AASB 1024 ‘Consolidated Accounts’ and definition of associates should be consistent with AASB 1016 ‘Accounting for Investments in Associates’.\n\nExemptions from the Consolidated Insurance Group requirements\n\n-   Australian authorised insurers which do not have any subsidiaries are not required to complete the forms for this reporting unit.\n-   Australian authorised insurers which have subsidiaries, but the financial position of the consolidated insurance group is not materially different from that of the licensed insurance entity, are not required to complete the forms for this reporting unit (i.e. the subsidiaries do not have any material dealings/balances).\n\nBasis of preparation\n\nIn completing this form, unless otherwise specifically stated, insurers are recommended to adopt the measurement and recognition requirements as required by the prudential reporting framework, as appropriate (i.e. outstanding claims provision and premium liabilities).\n\nUnit of measurement\n\nThis form is to be presented in Australian currency, rounded to thousands of dollars, with no decimal place.\n\nAs a general rule, amounts denominated in foreign currency are to be converted to AUD in accordance with the requirements of the Australian accounting standards, notably AASB 1012 ‘Foreign Currency Translation’.\n\nReporting period\n\nInsurers are required to report the information in the reporting form on an annual basis.\n\n-   The annual information is to be completed in respect of the financial year of the insurer.\n-   The financial information requested in this form is to be reported as at the last day of the reporting period on a financial year to date basis of the insurer. See the Reporting Requirements table for details.\n\nReporting lag\n\nThis form must be lodged for each of the reporting units within the number of business days after the end of the quarter as set out in the Reporting Requirements table.\n\n###   \nSpecific instructions\n\nThe appropriate information is to be reported by country or geographic region specified on the form, based on the location of where the items of income/expense are earned/incurred and assets and liabilities are invested or located. Enter the relevant details for each country as appropriate.\n\nItems are to be interpreted (measured and recognised) consistently as with other forms.\n\n###### 1. Premium Revenue - Direct & Inward treaty\n\nThis is the premium revenue (written) over the reporting period. It is to be reported in respect of total direct business and inward reinsurance business.\n\n###### 2. Reinsurance expense - Direct & Inward treaty\n\nPremium ceded to reinsurers is recognised fully as an expense when contracted (i.e. it is not to be amortised in accordance with the pattern of reinsurance service received). A spilt between direct and inward treaty business is required.\n\n###### 3. Claims Expense - Direct & Inward treaty\n\n###### 3.1 Relating to outstanding claims provision:\n\nRepresents claims expense in relation to claims incurred/reported relating to current year and prior years (i.e. the outstanding claims provision) as recognised in GRF 430.0 Claims Expense by State and Territory of Australia, disclosed into the applicable country.\n\n###### 3.2 Relating to Premium Liabilities:\n\nRepresents claims expense in relation to movements in the premium liabilities (relating to future years, disclosed into the applicable country).\n\n###### 4. Reinsurance recoveries:\n\n###### 4.1 Relating to outstanding claims provision:\n\nReport the reinsurance recoveries that relate to claims incurred and paid (i.e. relating to claims recognised in relation to current and prior years).\n\n###### 4.2 Relating to premium liabilities recognised:\n\nReport movement in the value of expected reinsurance recoveries that are recognised in relation to the recognition of premium liabilities (i.e. relating to potential claims arising in future years and whether these are covered by reinsurance agreements).\n\n###### 5. Investment Income - Interest/dividend/rent\n\nInclude investment income as recognised in the statement of financial performance for the reporting period, disclosed into the applicable country in which the investment income was earned.\n\n###### 6. Expected Reinsurance Recoveries\n\n“Expected reinsurance recoveries” is the term used to describe the value of potential future liabilities recognised as “Premium Liabilities” (in accordance with GPS 210 Liability Valuation for General Insurers) that are expected to be recovered under reinsurance contracts.\n\nReport the value of Expected Reinsurance Recoveries that is attributable to the respective countries listed.\n\n###### 7. Other reinsurance recoveries\n\nReport the value of all other reinsurance recoveries (other than Expected Reinsurance Recoveries), in the appropriate columns for the respective countries.\n\n###### 8. Investments\n\nReport the value of the investments portfolio that is attributable to the respective countries listed.\n\n###### 9. Other assets\n\nReport the value of other assets (other than those listed above) attributable to the respective countries listed in the form. The value of “Other Assets” must represent the remaining total assets of the reporting insurer.\n\n###### 10. Total Assets\n\nRepresent the total assets of the reporting insurer and must reconcile to the total assets as reported in GRF 300.0 Statement of Financial Position.\n\n###### 11. Premium Liability\n\nThe amount reported is to be measured in accordance with GPS 210 Liability Valuation for General Insurers.\n\n###### 12. Outstanding Claims Provision\n\nThis is the insurer’s liability for outstanding claims and recognises the potential cost to the insurer of settling claims which it has incurred at the reporting date but which have not been finalised. The amount reported is without deducting reinsurance and other recoveries and is to be measured in accordance with GPS 210 Liability Valuation for General Insurers.\n\nThe liability is in respect of both direct business and inward reinsurance business and is to be measured at the present value of the expected future payments. It must take into account unpaid claims, unreported claims, claims incurred but not reported, adjustments for claims development and claims incurred but not enough reported and the direct and indirect claims settlement costs that the insurer expects to incur in settling its outstanding claims.\n\n###### 13. Borrowings/loan capital\n\nReport the carrying value of any borrowings raised in the appropriate column for the respective countries.\n\n###### 14. Other liabilities\n\nReport the value of other liabilities (other than those listed above) attributable to the respective countries listed in the form. The value of “Other Liabilities” must represent the remaining total liabilities of the reporting insurer.\n\n###### 15. Total Liabilities\n\nRepresent the total assets of the reporting insurer and must reconcile to the total assets as reported in GRF 300.0 Statement of Financial Position.","sortOrder":16},{"sectionNumber":"3.1","sectionType":"section","heading":"Relating to outstanding claims provision:","content":"###### 3.1 Relating to outstanding claims provision:\n\nRepresents claims expense in relation to claims incurred/reported relating to current year and prior years (i.e. the outstanding claims provision) as recognised in GRF 430.0 Claims Expense by State and Territory of Australia, disclosed into the applicable country.","sortOrder":17},{"sectionNumber":"3.2","sectionType":"section","heading":"Relating to Premium Liabilities:","content":"###### 3.2 Relating to Premium Liabilities:\n\nRepresents claims expense in relation to movements in the premium liabilities (relating to future years, disclosed into the applicable country).","sortOrder":18},{"sectionNumber":"4. Reinsurance recoveries:","sectionType":"section","heading":"4. Reinsurance recoveries:","content":"## Reporting Form GRF 400.0\n\n## Statement of Risk by Country\n\n# Instruction Guide\n\n### Introduction\n\nThis form provides selected information of business written by authorised general insurers outside Australia; namely:\n\n-   premium revenue;\n\n-   reinsurance and claims expense;\n-   claims expense;\n-   reinsurance recoveries;\n-   investment income;\n-   premium liabilities;\n-   outstanding claims provision;\n-   borrowings/funding;\n-   expected reinsurance recoveries; and\n-   investments.\n\nThis form only needs to be completed where the insurer has business operations outside of Australia (i.e. where they have items of income, expense or assets, liabilities or capital outside of Australia as defined in this instructions set).\n\nAudit requirements\n\nThe information provided under the form is not required to be audited and has been exempted from the definition of ‘yearly statutory accounts’.\n\nReporting entities\n\nForms are to be completed for the following reporting entities where appropriate:\n\n1.  Branch operations of a foreign parent insurer (reference to licensed insurer in the form means total operations of the branch, excluding the parent operations);\n2.  Authorised insurance entities, including mutual entities (reference to licensed insurer in the form means total operations of the licensed entity);\n3.  Authorised reinsurance entities (reference to licensed insurer in the form means total operations of the licensed entity); and\n4.  Consolidated insurance groups.\n\nNote: the form for the consolidated insurance group is only required to complete the information requirements on the form. No risk change is applied to the consolidated insurance group at this stage.\n\nFor the purposes of APRA prudential reporting, the consolidated insurance group is interpreted as the accounts incorporating the highest parent entity in a group structure, that is an Australian authorised general insurance entity (for the purposes of the Insurance Act 1973), and includes all subsidiaries, associates and joint ventures (registered both in Australia and overseas) of that parent entity.\n\nFor the purposes of this form, the highest parent entity in the corporate group does not include a company (e.g. non-operating holding company) that is not an authorised general insurance entity.\n\nDefinition of subsidiaries should be consistent with the requirements of Australian accounting standards AASB 1024 ‘Consolidated Accounts’ and definition of associates should be consistent with AASB 1016 ‘Accounting for Investments in Associates’.\n\nExemptions from the Consolidated Insurance Group requirements\n\n-   Australian authorised insurers which do not have any subsidiaries are not required to complete the forms for this reporting unit.\n-   Australian authorised insurers which have subsidiaries, but the financial position of the consolidated insurance group is not materially different from that of the licensed insurance entity, are not required to complete the forms for this reporting unit (i.e. the subsidiaries do not have any material dealings/balances).\n\nBasis of preparation\n\nIn completing this form, unless otherwise specifically stated, insurers are recommended to adopt the measurement and recognition requirements as required by the prudential reporting framework, as appropriate (i.e. outstanding claims provision and premium liabilities).\n\nUnit of measurement\n\nThis form is to be presented in Australian currency, rounded to thousands of dollars, with no decimal place.\n\nAs a general rule, amounts denominated in foreign currency are to be converted to AUD in accordance with the requirements of the Australian accounting standards, notably AASB 1012 ‘Foreign Currency Translation’.\n\nReporting period\n\nInsurers are required to report the information in the reporting form on an annual basis.\n\n-   The annual information is to be completed in respect of the financial year of the insurer.\n-   The financial information requested in this form is to be reported as at the last day of the reporting period on a financial year to date basis of the insurer. See the Reporting Requirements table for details.\n\nReporting lag\n\nThis form must be lodged for each of the reporting units within the number of business days after the end of the quarter as set out in the Reporting Requirements table.\n\n###   \nSpecific instructions\n\nThe appropriate information is to be reported by country or geographic region specified on the form, based on the location of where the items of income/expense are earned/incurred and assets and liabilities are invested or located. Enter the relevant details for each country as appropriate.\n\nItems are to be interpreted (measured and recognised) consistently as with other forms.\n\n###### 1. Premium Revenue - Direct & Inward treaty\n\nThis is the premium revenue (written) over the reporting period. It is to be reported in respect of total direct business and inward reinsurance business.\n\n###### 2. Reinsurance expense - Direct & Inward treaty\n\nPremium ceded to reinsurers is recognised fully as an expense when contracted (i.e. it is not to be amortised in accordance with the pattern of reinsurance service received). A spilt between direct and inward treaty business is required.\n\n###### 3. Claims Expense - Direct & Inward treaty\n\n###### 3.1 Relating to outstanding claims provision:\n\nRepresents claims expense in relation to claims incurred/reported relating to current year and prior years (i.e. the outstanding claims provision) as recognised in GRF 430.0 Claims Expense by State and Territory of Australia, disclosed into the applicable country.\n\n###### 3.2 Relating to Premium Liabilities:\n\nRepresents claims expense in relation to movements in the premium liabilities (relating to future years, disclosed into the applicable country).\n\n###### 4. Reinsurance recoveries:\n\n###### 4.1 Relating to outstanding claims provision:\n\nReport the reinsurance recoveries that relate to claims incurred and paid (i.e. relating to claims recognised in relation to current and prior years).\n\n###### 4.2 Relating to premium liabilities recognised:\n\nReport movement in the value of expected reinsurance recoveries that are recognised in relation to the recognition of premium liabilities (i.e. relating to potential claims arising in future years and whether these are covered by reinsurance agreements).\n\n###### 5. Investment Income - Interest/dividend/rent\n\nInclude investment income as recognised in the statement of financial performance for the reporting period, disclosed into the applicable country in which the investment income was earned.\n\n###### 6. Expected Reinsurance Recoveries\n\n“Expected reinsurance recoveries” is the term used to describe the value of potential future liabilities recognised as “Premium Liabilities” (in accordance with GPS 210 Liability Valuation for General Insurers) that are expected to be recovered under reinsurance contracts.\n\nReport the value of Expected Reinsurance Recoveries that is attributable to the respective countries listed.\n\n###### 7. Other reinsurance recoveries\n\nReport the value of all other reinsurance recoveries (other than Expected Reinsurance Recoveries), in the appropriate columns for the respective countries.\n\n###### 8. Investments\n\nReport the value of the investments portfolio that is attributable to the respective countries listed.\n\n###### 9. Other assets\n\nReport the value of other assets (other than those listed above) attributable to the respective countries listed in the form. The value of “Other Assets” must represent the remaining total assets of the reporting insurer.\n\n###### 10. Total Assets\n\nRepresent the total assets of the reporting insurer and must reconcile to the total assets as reported in GRF 300.0 Statement of Financial Position.\n\n###### 11. Premium Liability\n\nThe amount reported is to be measured in accordance with GPS 210 Liability Valuation for General Insurers.\n\n###### 12. Outstanding Claims Provision\n\nThis is the insurer’s liability for outstanding claims and recognises the potential cost to the insurer of settling claims which it has incurred at the reporting date but which have not been finalised. The amount reported is without deducting reinsurance and other recoveries and is to be measured in accordance with GPS 210 Liability Valuation for General Insurers.\n\nThe liability is in respect of both direct business and inward reinsurance business and is to be measured at the present value of the expected future payments. It must take into account unpaid claims, unreported claims, claims incurred but not reported, adjustments for claims development and claims incurred but not enough reported and the direct and indirect claims settlement costs that the insurer expects to incur in settling its outstanding claims.\n\n###### 13. Borrowings/loan capital\n\nReport the carrying value of any borrowings raised in the appropriate column for the respective countries.\n\n###### 14. Other liabilities\n\nReport the value of other liabilities (other than those listed above) attributable to the respective countries listed in the form. The value of “Other Liabilities” must represent the remaining total liabilities of the reporting insurer.\n\n###### 15. Total Liabilities\n\nRepresent the total assets of the reporting insurer and must reconcile to the total assets as reported in GRF 300.0 Statement of Financial Position.","sortOrder":19},{"sectionNumber":"4.1","sectionType":"section","heading":"Relating to outstanding claims provision:","content":"###### 4.1 Relating to outstanding claims provision:\n\nReport the reinsurance recoveries that relate to claims incurred and paid (i.e. relating to claims recognised in relation to current and prior years).","sortOrder":20},{"sectionNumber":"4.2","sectionType":"section","heading":"Relating to premium liabilities recognised:","content":"###### 4.2 Relating to premium liabilities recognised:\n\nReport movement in the value of expected reinsurance recoveries that are recognised in relation to the recognition of premium liabilities (i.e. relating to potential claims arising in future years and whether these are covered by reinsurance agreements).","sortOrder":21},{"sectionNumber":"5. Investment Income - Interest/dividend","sectionType":"section","heading":"5. Investment Income - Interest/dividend/rent","content":"###### 5. Investment Income - Interest/dividend/rent\n\nInclude investment income as recognised in the statement of financial performance for the reporting period, disclosed into the applicable country in which the investment income was earned.","sortOrder":22},{"sectionNumber":"6. Expected Reinsurance Recoveries","sectionType":"section","heading":"6. Expected Reinsurance Recoveries","content":"###### 6. Expected Reinsurance Recoveries\n\n“Expected reinsurance recoveries” is the term used to describe the value of potential future liabilities recognised as “Premium Liabilities” (in accordance with GPS 210 Liability Valuation for General Insurers) that are expected to be recovered under reinsurance contracts.\n\nReport the value of Expected Reinsurance Recoveries that is attributable to the respective countries listed.","sortOrder":23},{"sectionNumber":"7. Other reinsurance recoveries","sectionType":"section","heading":"7. Other reinsurance recoveries","content":"###### 7. Other reinsurance recoveries\n\nReport the value of all other reinsurance recoveries (other than Expected Reinsurance Recoveries), in the appropriate columns for the respective countries.","sortOrder":24},{"sectionNumber":"8. Investments","sectionType":"section","heading":"8. Investments","content":"###### 8. Investments\n\nReport the value of the investments portfolio that is attributable to the respective countries listed.","sortOrder":25},{"sectionNumber":"9. Other assets","sectionType":"section","heading":"9. Other assets","content":"###### 9. Other assets\n\nReport the value of other assets (other than those listed above) attributable to the respective countries listed in the form. The value of “Other Assets” must represent the remaining total assets of the reporting insurer.","sortOrder":26},{"sectionNumber":"10. Total Assets","sectionType":"section","heading":"10. Total Assets","content":"###### 10. Total Assets\n\nRepresent the total assets of the reporting insurer and must reconcile to the total assets as reported in GRF 300.0 Statement of Financial Position.","sortOrder":27},{"sectionNumber":"11. Premium Liability","sectionType":"section","heading":"11. Premium Liability","content":"###### 11. Premium Liability\n\nThe amount reported is to be measured in accordance with GPS 210 Liability Valuation for General Insurers.","sortOrder":28},{"sectionNumber":"12. Outstanding Claims Provision","sectionType":"section","heading":"12. Outstanding Claims Provision","content":"###### 12. Outstanding Claims Provision\n\nThis is the insurer’s liability for outstanding claims and recognises the potential cost to the insurer of settling claims which it has incurred at the reporting date but which have not been finalised. The amount reported is without deducting reinsurance and other recoveries and is to be measured in accordance with GPS 210 Liability Valuation for General Insurers.\n\nThe liability is in respect of both direct business and inward reinsurance business and is to be measured at the present value of the expected future payments. It must take into account unpaid claims, unreported claims, claims incurred but not reported, adjustments for claims development and claims incurred but not enough reported and the direct and indirect claims settlement costs that the insurer expects to incur in settling its outstanding claims.","sortOrder":29},{"sectionNumber":"13. Borrowings/loan capital","sectionType":"section","heading":"13. Borrowings/loan capital","content":"###### 13. Borrowings/loan capital\n\nReport the carrying value of any borrowings raised in the appropriate column for the respective countries.","sortOrder":30},{"sectionNumber":"14. Other liabilities","sectionType":"section","heading":"14. Other liabilities","content":"###### 14. Other liabilities\n\nReport the value of other liabilities (other than those listed above) attributable to the respective countries listed in the form. The value of “Other Liabilities” must represent the remaining total liabilities of the reporting insurer.","sortOrder":31},{"sectionNumber":"15. Total Liabilities","sectionType":"section","heading":"15. Total Liabilities","content":"###### 15. Total Liabilities\n\nRepresent the total assets of the reporting insurer and must reconcile to the total assets as reported in GRF 300.0 Statement of Financial Position.","sortOrder":32}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-realtime","completionTokens":1989},"content_quality":"ok","complexity_score":4,"scope_assessment":{"changed":false,"description":"The determination remains strictly focused on its original purpose of collecting country-by-country financial exposure data from general insurers to support APRA's prudential supervision mandate."},"complexity_factors":["Cross-references to multiple external instruments (Insurance Act 1973, GPS 210 Liability Valuation, AASB 1024 Consolidated Accounts, AASB 1012 Foreign Currency Translation, Corporations Act 2001)","Technical defined terms including 'highest parent entity' and 'consolidated insurance group' requiring reference to accounting standards","Conditional application logic (only required where insurer has operations outside Australia)","Dual reporting obligations for parent entities (individual licensed insurer form plus consolidated insurance group form)","Specific measurement requirements (Australian currency, rounded to thousands, no decimals, foreign currency conversion per AASB 1012)","Digital certificate and Public Key Infrastructure requirements for electronic submission authorisation"],"plain_english_summary":"This Standard requires Australian general insurers (including foreign branches and parent insurers) to report their overseas financial exposures to APRA—via Form GRF 400.0—so the regulator can see where premium, claims, investments and related risks sit by country/region. Annual filings are generally due within four months of year‑end (APRA may vary frequency), must be authorised by senior management, and exempt insurers with no overseas operations."},"flash_summary":{"complexity_score":4,"scope_assessment":{"changed":false,"description":"The instrument’s stated scope—requiring country/region breakdowns from all general insurers and from highest parent consolidated insurance groups—is consistent throughout the text (paras 2–4; Instruction Guide). It enumerates limited exemptions for consolidation and permits APRA to vary frequency, but provides no textual indication that the scope departs from its objective to collect prudential data."},"complexity_factors":["Multiple reporting units and consolidation rules: separate submissions for ‘Licensed Insurer’ and for a ‘Consolidated Insurance Group’ where the entity is a highest parent (paras 3–4; Instruction Guide).","Interdependence with accounting and prudential standards: references to AASB 1024/AASB 1012 and GPS 210 for measurement, valuation and foreign-currency translation (para 16; Instruction Guide).","Submission mechanisms and digital security: D2A electronic submission with APRA-issued digital certificates and signature/encryption requirements, or manual paper submission with CEO/CFO signature (para 5; paras 11–12).","APRA discretion over timing and frequency: APRA may require more or less frequent reporting for particular insurers by written notice (para 7).","Reconciliation and reporting integrity requirements: amounts must reconcile with other GRF reports (e.g. GRF 300.0, GRF 430.0) and be subject to the insurer’s internal review and authorisation processes (paras 10; Instruction Guide items 10 and references).","Audit and exemption treatment: the form data are exempted from yearly statutory accounts and APRA may determine auditing exemptions under the Insurance Act (Reporting lag note; para 6 note).","Form flexibility with limits: APRA may make minor technical or clarifying variations to forms and instructions but must notify insurers (paras 13–14).","Granularity and mapping burden: country/region allocation rules for income, expenses, assets and liabilities create data-mapping and reporting costs for insurers with overseas operations (Instruction Guide specific instructions)."],"plain_english_summary":"This reporting standard requires all general insurers (including foreign insurers operating through Australian branches) to provide APRA, usually annually, with country- or region-level breakdowns of exposures, premiums, claims, reinsurance, investments and related balance-sheet items using Form GRF 400.0. APRA collects the data for prudential supervision. Insurers’ boards and senior management must maintain authorisation controls; authorised officers must sign and submit data electronically or on paper, and APRA can vary reporting frequency or make minor form changes."}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-determination-no-23-of-2005","history":"/api/acts/financial-sector-collection-of-data-determination-no-23-of-2005/history","analysis":"/api/acts/financial-sector-collection-of-data-determination-no-23-of-2005/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-determination-no-23-of-2005/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-determination-no-23-of-2005/important-cases","documents":"/api/acts/financial-sector-collection-of-data-determination-no-23-of-2005/documents"}}