{"id":"F2013L02149","name":"Financial Sector (Collection of Data) (reporting standard) determination No. 103 of 2013 - GRS 460.0_G - Reinsurance Assets by Counterparty (Level 2 Insurance Group)","slug":"financial-sector-collection-of-data-reporting-standard-determination-no-103-of-2013-grs-460-0-g-rein","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":128273,"registerId":"commonwealth-F2013L02149-current","compilationNumber":null,"startDate":"2026-04-03","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Financial Sector (Collection of Data) (reporting standard) determination No. 103 of 2013 - GRS 460.0_G - Reinsurance Assets by Counterparty (Level 2 Insurance Group)","content":"![](image.001.png)\n\nFinancial Sector (Collection of Data) (reporting standard) determination No. 103 of 2013\n\nReporting Standard GRS 460.0\\_G Reinsurance Assets by Counterparty (Level 2 Insurance Group)\n\nFinancial Sector (Collection of Data) Act 2001\n\nI, Charles Littrell, delegate of APRA, under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001 (the Act) DETERMINE Reporting Standard GRS 460.0\\_G Reinsurance Assets by Counterparty (Level 2 Insurance Group), in the form set out in the Schedule, which applies to the financial sector entities to the extent provided in paragraph 3 of the reporting standard.\n\nUnder section 15 of the Act, I DECLARE that the reporting standard shall begin to apply to those financial sector entities on 31 December 2013.\n\nThis instrument commences on 31 December 2013.\n\nDated: 13 December 2013\n\n\\[Signed\\]\n\nCharles Littrell\n\nExecutive General Manager\n\nPolicy, Statistics and International\n\nInterpretation\n\nIn this Determination:\n\nAPRA means the Australian Prudential Regulation Authority.\n\nfinancial sector entity has the meaning given in section 5 of the Act.\n\nSchedule\n\nReporting Standard GRS 460.0\\_G Reinsurance Assets by Counterparty (Level 2 Insurance Group) comprises the 11 pages commencing on the following page.\n\n![](image.001.png)\n\nReporting Standard GRS 460.0\\_G\n\nReinsurance Assets by Counterparty (Level 2 Insurance Group)\n\nObjective of this Reporting Standard\n\nThis Reporting Standard sets out the requirements for the provision of information to APRA relating to a Level 2 insurance group’s exposures to reinsurance counterparties.\n\nIt includes Form GRF 460.0\\_G Reinsurance Assets by Counterparty (G) and associated specific instructions and must be read in conjunction with the general instruction guide.\n\nAuthority\n\n1. This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.\n\nPurpose\n\n2. Information collected in Form GRF 460.0\\_G Reinsurance Assets by Counterparty (G) (GRF 460.0\\_G) is used by APRA for the purposes of prudential supervision.\n\nApplication and commencement\n\n3. This Reporting Standard applies to the parent entity of a Level 2 insurance group as defined in Prudential Standard GPS 001 Definitions (GPS 001).\n\n4. This Reporting Standard applies for reporting periods ending on or after 31 December 2013.\n\n5. The parent entity of a Level 2 insurance group is required to ensure that each requirement in this Reporting Standard is complied with.\n\nInformation required\n\n6. The parent entity of a Level 2 insurance group must provide APRA with the information required by GRF 460.0\\_G in respect of the Level 2 insurance group for each reporting period.\n\nForms and method of submission\n\n7. The information required by this Reporting Standard must be given to APRA in electronic format using the ‘Direct to APRA’ application or, where ‘Direct to APRA’ is not available, by a method notified by APRA prior to submission.\n\nNote: the ‘Direct to APRA’ application software (also known as ‘D2A’) may be obtained from APRA.\n\nReporting periods and due dates\n\n8. Subject to paragraph 9, the parent entity of a Level 2 insurance group must provide the information required by this Reporting Standard in respect of each financial year of the Level 2 insurance group.\n\n9. If, having regard to the particular circumstances of a Level 2 insurance group, APRA considers it necessary or desirable to obtain information more or less frequently than as provided by paragraph 8, APRA may change the reporting periods, or specify reporting periods, for the particular Level 2 insurance group.\n\n10. The information required by this Reporting Standard must be provided to APRA:\n\n(a) within the time stated in Reporting Standard GRS 001 Reporting Requirements (GRS 001); or\n\n(b) in the case of information provided in accordance with paragraph 9, within the time specified by APRA.\n\n11. APRA may grant the parent entity of a Level 2 insurance group an extension of a due date, in which case the new due date for the provision of the information will be the date on the notice of extension.\n\nQuality control\n\n12. All information provided by the parent entity of a Level 2 insurance group under this Reporting Standard must be subject to systems, processes and controls developed by the Level 2 insurance group for the internal review and authorisation of that information. It is the responsibility of the Board and senior management of the parent entity of the Level 2 insurance group to ensure that an appropriate set of policies and procedures for the authorisation of information submitted to APRA is in place.\n\n13. Under Prudential Standard GPS 310 Audit and Related Matters (GPS 310), the Group Auditor of a Level 2 insurance group is not ordinarily required to provide a limited assurance review in relation to information provided by the parent entity of the Level 2 insurance group under this Reporting Standard.\n\nAuthorisation\n\n14. When an officer or agent of the parent entity of a Level 2 insurance group provides the information required by this Reporting Standard using the ‘Direct to APRA’ software, it will be necessary for the officer or agent to digitally sign the relevant information using a digital certificate acceptable to APRA.\n\n15. If the information required by this Reporting Standard is provided by an agent who submits using the ‘Direct to APRA’ software on the parent entity’s behalf, the parent entity of the Level 2 insurance group must:\n\n(a) obtain from the agent a copy of the completed form with the information provided to APRA; and\n\n(b) retain the completed copy.\n\n16. An officer or agent of the parent entity of a Level 2 insurance group who submits the information under this Reporting Standard for, or on behalf of, the parent entity of the Level 2 insurance group must be authorised by either:\n\n(a) the Principal Executive Officer of the parent entity of the Level 2 insurance group; or\n\n(b) the Chief Financial Officer of the parent entity of the Level 2 insurance group.\n\nVariations\n\n17. APRA may vary the reporting requirements of GRF 460.0\\_G in relation to a Level 2 insurance group.\n\nInterpretation\n\n18. In this Reporting Standard:\n\n(a) unless the contrary intention appears, words and expressions have the meanings given to them in GPS 001; and\n\n(b) APRA means the Australian Prudential Regulation Authority established under the Australian Prudential Regulation Authority Act 1998;\n\nChief Financial Officer means the chief financial officer of the parent entity of the Level 2 insurance group, by whatever name called;\n\nfinancial year means the financial year (within the meaning in the Corporations Act 2001) of the parent entity of the Level 2 insurance group;\n\ngeneral instruction guide refers to the general instruction guide set out in Attachment A of GRS 001;\n\nGroup Auditor has the meaning given in GPS 310;\n\nPrincipal Executive Officer means the principal executive officer of the parent entity of the Level 2 insurance group, by whatever name called, and whether or not he or she is a member of the governing board of the parent entity of the Level 2 insurance group; and\n\nreporting period means a period mentioned in paragraph 8 or, if applicable, paragraph 9.\n\n19. Where this Reporting Standard provides for APRA to exercise a power or discretion, this power or discretion is to be exercised in writing.\n\n| GRF_460_0_G: Reinsurance Assets by Counterparty (G) |\n| --------------------------------------------------- |\n\n| Australian Business Number | Institution Name | |\n| -------------------------- | ------------------------------------- | ----------------------- |\n| | | |\n| Reporting Period | Scale Factor | Reporting Consolidation |\n| Annual | Thousands of dollars no decimal place | Level 1 / Level 2 |\n\n| Name of counterparty (reinsurer) | Reinsurer identifier | Counterparty group name | APRA counterparty grade | Major form of collateral / guarantee | Amount of collateral / guarantee | APRA counterparty grade after collateral / guarantee | Counterparty domicile | Group domicile | Central estimate of reinsurance recoverables | Net reinsurance recoverable on paid claims overdue for more than 6 months - central estimate | Reinsurance recoverable outstanding from second annual balance date after the event - central estimate | Deferred reinsurance expense |\n| -------------------------------- | -------------------- | ----------------------- | ----------------------- | ------------------------------------ | -------------------------------- | ---------------------------------------------------- | --------------------- | -------------- | -------------------------------------------- | -------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------ | ---------------------------- |\n| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | (11) | (12) | (13) |\n| | | | | | | | | | | | | |\n\n| Other | | | | | | | | | | | | |\n| ----- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| Total | | | | | | | | | | | | |\n\n \n\nReporting Form GRF 460.0\\_G\n\nReinsurance Assets by Counterparty (G)\n\nInstructions\n\nThese instructions assist completion of Reporting Form GRF 460.0\\_G Reinsurance Assets by Counterparty (GRF 460.0\\_G). GRF 460.0\\_G collects information relating to a regulated institution’s exposure to individual reinsurance counterparties. Information reported in GRF 460.0\\_G is primarily required for prudential purposes.\n\nThese instructions must be read in conjunction with the general instruction guide.\n\nAudit matters\n\nAs a result of Insurance (exemption) determination No. 2 of 2013, the Appointed Auditor of a general insurer is not required to audit, or provide a certificate in relation to, information provided by the general insurer under Reporting Standard GRS 460.0 Reinsurance Assets by Counterparty. Under Prudential Standard GPS 310 Audit and Related Matters (GPS 310), the Group Auditor of a Level 2 insurance group is not required to provide a limited assurance review in relation to information provided by the parent entity of the Level 2 insurance group under Reporting Standard GRS 460.0\\_G Reinsurance Assets by Counterparty (Level 2 Insurance Group). APRA, however, may exercise its power under GPS 310 to require the Appointed Auditor or Group Auditor to undertake a special purpose review of the systems, processes and controls surrounding the completion of Reporting Form GRF 460.0 Reinsurance Assets by Counterparty (GRF 460.0) and GRF 460.0\\_G, or the data contained within GRF 460.0 and GRF 460.0\\_G.\n\nReporting Level\n\nGRF 460.0\\_G must be completed by all Level 2 insurance groups.\n\nSpecific instructions\n\nTerms highlighted in bold italics indicate that the definition is provided in these instructions. Additional definitions are provided at the end of these instructions.\n\nReporting Practice Guide GRPG 460 Reinsurance Counterparty Data Collection provides guidance to assist regulated institutions in completing GRF 460.0\\_G.\n\nReinsurance assets by counterparty\n\nFor the purposes of GRF 460.0\\_G, it is acceptable for a regulated institution to report less than 100 per cent of the regulated institution’s total exposure to individual reinsurance counterparties. However, at a minimum, the regulated institution must report exposures to individual reinsurance counterparties such that the aggregate of the amount reported on the reporting form represents at least 95 per cent of the sum of the regulated institution’s total central estimate of reinsurance recoverables (including recoverables on paid claims overdue for more than six months and recoverables outstanding from the second annual balance date after the event) and deferred reinsurance expense.\n\nRegulated institutions are only to include reinsurance recoverables on GRF 460.0\\_G that are classed as reinsurance on Reporting Form GRF 300.0 Statement of Financial Position or Reporting Form GRF 300.0\\_G Statement of Financial Position (G).\n\nReporting basis: report balances for Column 6 and Columns 10 to 13 as at the end of the financial year.\n\nUnit of measurement: report amounts in Column 6 and Columns 10 to 13 as thousands of dollars.\n\n| | Report each reinsurance counterparty as a separate line item.For each reinsurance counterparty report the Name of counterparty (reinsurer) in column 1, the Reinsurer identifier in column 2, the Counterparty group name in column 3, the APRA counterparty grade in column 4, the Major form of collateral / guarantee in column 5, the Amount of collateral / guarantee in column 6, the APRA counterparty grade after collateral / guarantee in column 7, the Counterparty domicile in column 8, the Group domicile in column 9, the Central estimate of reinsurance recoverables in column 10, the Net reinsurance recoverable on paid claims overdue for more than 6 months – central estimate in column 11, the Reinsurance recoverable outstanding from second annual balance date after the event – central estimate in column 12 and the Deferred reinsurance expense in column 13. |\n| ------------------------------------------------------------------------------------------------------ | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Name of counterparty (reinsurer) | The legal name of the counterparty to the reinsurance exposure. Where relevant, use the name of counterparty as stated on the reinsurer identifier list. |\n| Reinsurer identifier | The unique identifier for the counterparty reported in column 1. Where relevant, the reinsurer identifier must be reported as stated on the reinsurer identifier list. If the reinsurer is not on the reinsurer identifier list, report the reinsurer identifier as ‘unassigned’. |\n| Counterparty group name | The name of the group to which the counterparty to the reinsurance exposure belongs. If the counterparty to the reinsurance exposure does not belong to a group, leave this column blank. Where relevant, the counterparty group name must be reported as stated on the reinsurer identifier list. If the counterparty group name is not on the reinsurer identifier list, report the counterparty group name as per these instructions. |\n| APRA counterparty grade | The counterparty grade of 1 to 7 in accordance with Prudential Standard GPS 001 Definitions (GPS 001). |\n| Major form of collateral / guarantee | The type of collateral / guarantee, if applicable, that is support for the reinsurance recoverables in accordance with Prudential Standard GPS 114 Capital Adequacy: Asset Risk Charge (GPS 114). Where there is more than one type of collateral or guarantee provided as support, report the type that has the greatest monetary exposure. Collateral / guarantee types can include (but are not limited to) trusts, letters of credit and financial guarantees. |\n| Amount of collateral / guarantee | The monetary amount of the collateral / guarantee, if applicable, that is support for reinsurance recoverables. |\n| APRA counterparty grade after collateral / guarantee | The counterparty grade of the collateral / guarantee reported of grade 1 to 7 in accordance with GPS 001. If there is more than one type of collateral or guarantee, report the grade for the type that has the greatest monetary exposure. |\n| Counterparty domicile | For a subsidiary, the domicile is where the counterparty is legally incorporated. For a branch, the domicile is where the counterparty (branch) is located. Where relevant, the counterparty domicile must be reported as stated on the reinsurer identifier list. If the counterparty is not on the reinsurer identifier list, report the domicile using the domiciles listed in Appendix 1. |\n| Group domicile | The domicile where the group owning the counterparty is legally incorporated. If the counterparty does not belong to a group, leave this column blank. Where relevant, the group domicile must be reported as stated on the reinsurer identifier list. If the group is not on the reinsurer identifier list, report the group domicile using the domiciles listed in Appendix 1 |\n| Central estimate of reinsurance recoverables | The reinsurance recoverables associated with the counterparty reported in column 1. This amount will include the recoverables on incurred but not reported (IBNR) claims that are allocated to the counterparty. This amount must exclude the amounts reported in columns 11 and 12 for that counterparty. It is measured at central estimate level, in accordance with Prudential Standard GPS 320 Actuarial and Related Matters (GPS 320). |\n| Net reinsurance recoverable on paid claims overdue for more than 6 months – central estimate | The reinsurance recoverables on paid claims where:the recoverable has become a receivable (i.e. it is due and payable);the receivable is overdue for more than six months since a request for payment has been made to the reinsurer; andthere is no formal dispute between the insurer and the reinsurer in relation to that receivable.The categorisation is in accordance with GPS 114 and the central estimate level is in accordance with GPS 320. |\n| Reinsurance recoverable outstanding from second annual balance date after the event – central estimate | The reinsurance recoverables that are outstanding on and from the second balance date after the end of the financial year in which the event giving rise to the recoverables occurred regardless of whether the reinsurance recoverables are supported by collateral, guarantee or letter of credit. The amount reported should include IBNR. The categorisation is in accordance with GPS 114 and the central estimate level is in accordance with GPS 320. |\n| Deferred reinsurance expense | The value of premiums ceded to reinsurers which are determined in accordance with GPS 320 and deferred in accordance with the pattern of reinsurance service received as per GPS 320. |\n| Other | This is a derived item for column 6 and columns 10 to 13. Other is equal to the difference between the ‘Total’ reported for each of column 6 and columns 10 to 13 and the reported amounts for each counterparty in aggregate. |\n| Total | This is the total of the relevant amounts for column 6 and columns 10 to 13 and may include amounts that have not been reported in a row within the form. |\n\nGlossary of additional terms\n\n| Incurred but not reported (IBNR) | Represents the claims arising from incidents occurring prior to the close of the reporting period which are expected to be reported in subsequent reporting periods. |\n| -------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Reinsurer identifier list | This is a list of reinsurers which includes the name of the counterparty, counterparty domicile, counterparty group name and group domicile that must be used for reporting on GRF 460.0 and GRF 460.0_G. The list is located on APRA’s website. |\n\nInterpretation\n\nFor the purposes of these instructions:\n\n- Appointed Auditor is defined in GPS 001;\n- general insurer means a general insurer authorised under the Insurance Act 1973;\n- Group Auditor is defined in GPS 001;\n- regulated institution is defined in GPS 001 as a collective term for general insurers and Level 2 insurance groups; and\n- Level 2 insurance group is defined in Attachment D of GPS 001.\n\nAppendix 1: Country list\n\nThe following country list must be used when reporting any values for columns 8 and 9.\n\nIf the country cannot be identified, report the relevant ‘residual’ region listed in the table (for example, US Pacific Islands). If the residual region cannot be identified, report ‘unallocated’.\n\n| Country/Grouping | Code |\n| ------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Afghanistan | AF |\n| Albania | AL |\n| Algeria | DZ |\n| Andorra | AD |\n| Angola | AO |\n| Argentina | AR |\n| Armenia | AM |\n| Aruba | AW |\n| Australia | AU includes Christmas Islands, Cocos Islands, Norfolk Islands, Heard and McDonald Islands, Territory of Ashmore and Cartier Islands and Territory of Coral Sea Islands |\n| Austria | AT |\n| Azerbaijan | AZ |\n| Bahamas | BS |\n| Bahrain | BH |\n| Bangladesh | BD |\n| Barbados | BB |\n| Belarus | BY |\n| Belgium | BE |\n| Belize | BZ |\n| Benin | BJ |\n| Bermuda | BM |\n| Bhutan | BT |\n| Bolivia | BO |\n| Bosnia and Herzegovina | BA |\n| Botswana | BW |\n| Brazil | BR |\n| British Overseas Territories | 1W includes British Antarctic Territory, British Indian Ocean Territory, Chagos, Pitcairn Islands, South Georgia and South Sandwich Islands |\n| Brunei | BN |\n| Bulgaria | BG |\n| Burkina Faso | BF |\n| Burundi | BI |\n| Cambodia | KH |\n| Cameroon | CM |\n| Canada | CA |\n| Cape Verde | CV |\n| Cayman Islands | KY |\n| Central African Republic | CF |\n| Chad | TD |\n| Chile | CL |\n| China | CN |\n| Colombia | CO |\n| Comoros Islands | KM |\n| Congo | CG |\n| Congo Democratic Republic | CD |\n| Consortium Banks | 1G |\n| Costa Rica | CR |\n| Cote d'Ivoire | CI |\n| Croatia | HR |\n| Cuba | CU |\n| Cyprus | CY |\n| Czech Republic | CZ |\n| Denmark | DK excludes Faeroe Islands and Greenland |\n| Djibouti | DJ |\n| Dominica | DM |\n| Dominican Republic | DO |\n| Ecuador | EC |\n| Egypt | EG |\n| El Salvador | SV |\n| Equatorial Guinea | GQ |\n| Eritrea | ER |\n| Estonia | EE |\n| Ethiopia | ET |\n| Faeroe Islands | FO |\n| Falkland Islands | FK |\n| Fiji | FJ |\n| Finland | FI includes Aland Islands |\n| France | FR includes French Guiana, French Southern Territories, Guadeloupe, Martinique, Mayotte, Monaco, Reunion and St. Pierre and Miquelon |\n| French Polynesia | PF includes Society Archipelago, Tuamotu-Gambier Islands, Marquesas, Australes Archipelago |\n| Gabon | GA |\n| Gambia | GM |\n| Georgia | GE |\n| Germany | DEincludes the European Central Bank |\n| Ghana | GH |\n| Gibraltar | GI |\n| Greece | GR |\n| Greenland | GL |\n| Grenada | GD |\n| Guatemala | GT |\n| Guernsey | GG |\n| Guinea | GN |\n| Guinea-Bissau | GW |\n| Guyana | GY |\n| Haiti | HT |\n| Honduras | HN |\n| Hong Kong SAR | HK |\n| Hungary | HU |\n| Iceland | IS |\n| India | IN |\n| Indonesia | ID |\n| International organisations | 1C except the BIS which is included under Switzerland, and the ECB which is included under Germany |\n| Iran | IR |\n| Iraq | IQ |\n| Ireland | IE |\n| Isle of Man | IM |\n| Israel | IL |\n| Italy | IT |\n| Jamaica | JM |\n| Japan | JP |\n| Jersey | JE |\n| Jordan | JO |\n| Kazakhstan | KZ |\n| Kenya | KE |\n| Kiribati | KIR |\n| Kuwait | KWT |\n| Kyrgyz Republic | KGZ |\n| Laos | LAO |\n| Latvia | LV |\n| Lebanon | LB |\n| Lesotho | LS |\n| Liberia | LR |\n| Libya | LY |\n| Liechtenstein | LI |\n| Lithuania | LT |\n| Luxembourg | LU |\n| Macau SAR | MO |\n| Macedonia | MK |\n| Madagascar | MG |\n| Malawi | MW |\n| Malaysia | MY includes Labuan International Offshore Financial Centre |\n| Maldives | MV |\n| Mali | ML |\n| Malta | MT |\n| Marshall Islands | MH |\n| Mauritania | MR |\n| Mauritius | MU |\n| Mexico | MX |\n| Micronesia | FM |\n| Moldova | MD |\n| Mongolia | MN |\n| Montenegro | ME |\n| Morocco | MA |\n| Mozambique | MZ |\n| Myanmar | MM |\n| Namibia | NA |\n| Nauru | NR |\n| Nepal | NP |\n| Netherlands | NL |\n| Netherlands Antilles | AN includes Bonaire, Curacao, Saba, St. Eustatius and St. Maarten |\n| New Caledonia | NC |\n| New Zealand | NZ includes Cook Islands, Minor Islands, Niue, Ross Dependency and Tokelau |\n| Nicaragua | NI |\n| Niger | NE |\n| Nigeria | NG |\n| North Korea | KP |\n| Norway | NO includes Bouvet Islands, Svalbard and Jan Mayen Islands |\n| Official Monetary Authorities | 1D |\n| Oman | OM |\n| Pakistan | PK |\n| Palau | PW |\n| Palestinian Territory | PS |\n| Panama | PA includes Panama Canal Zone |\n| Papua New Guinea | PG |\n| Paraguay | PY |\n| Peru | PE |\n| Philippines | PH |\n| Poland | PL |\n| Portugal | PT includes the Azores and Madeira |\n| Qatar | QA |\n| Residual Africa and Middle East | 2W includes Western Sahara |\n| Residual Asia and Pacific | 2O |\n| Residual developed countries | 2R |\n| Residual Europe | 2B |\n| Residual Latin America and Caribbean | 2H |\n| Residual offshore centres | 2N |\n| Romania | RO |\n| Russia | RU |\n| Rwanda | RW |\n| Samoa | WS |\n| San Marino | SM |\n| Sao Tome and Principe | ST |\n| Saudi Arabia | SA |\n| Senegal | SN |\n| Serbia | RS |\n| Seychelles | SC |\n| Sierra Leone | SL |\n| Singapore | SG |\n| Slovakia | SK |\n| Slovenia | SI |\n| Solomon Islands | SB |\n| Somalia | SO |\n| South Africa | ZA |\n| South Korea | KR |\n| Spain | ES includes Balearic Islands, Canary Islands and Ceuta and Melilla |\n| Sri Lanka | LK |\n| St. Helena | SH includes Ascension, Gough and Tristan Da Cunha |\n| St. Lucia | LC |\n| St. Vincent | VC includes the Grenadines |\n| Sudan | SD |\n| Suriname | SR |\n| Swaziland | SZ |\n| Sweden | SE |\n| Switzerland | CH includes Bank for International Settlements |\n| Syria | SY |\n| Taiwan, China | TW |\n| Tajikistan | TJ |\n| Tanzania | TZ |\n| Thailand | TH |\n| Timor Leste | TL |\n| Togo | TG |\n| Tonga | TO |\n| Trinidad and Tobago | TT |\n| Tunisia | TN |\n| Turkey | TR |\n| Turkmenistan | TM |\n| Turks and Caicos | TC |\n| Tuvalu | TV |\n| Uganda | UG |\n| Ukraine | UA |\n| Unallocated | 5M |\n| United Arab Emirates | AE |\n| United Kingdom | GB excludes Guernsey, Isle of Man and Jersey |\n| United States | US includes American Samoa, Guam, Midway Islands, Northern Mariana Islands, Puerto Rico, US Virgin Islands and Wake Islands |\n| Uruguay | UY |\n| US Pacific Islands | PU includes Carolines, Howland and Baker, Kingman Reef, Palmyra and Jarvis and Johnston |\n| Uzbekistan | UZ |\n| Vanuatu | VU |\n| Vatican | VA |\n| Venezuela | VE |\n| Vietnam | VN |\n| Wallis and Futuna | WF |\n| West Indies UK | 1Z includes Anguilla, Antigua and Barbuda, British Virgin Islands, Montserrat and St. Christopher/St. Kitts - Nevis |\n| Yemen | YE |\n| Zambia | ZM |\n| Zimbabwe | ZW |","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-realtime","completionTokens":1781},"content_quality":"ok","complexity_score":5,"scope_assessment":{"changed":false,"description":"This 2013 determination establishes a specific reporting standard focused solely on reinsurance counterparty exposure data for Level 2 insurance groups. It maintains a narrow, technical scope consistent with its original prudential supervision purpose, without evidence of expansion into broader regulatory areas."},"complexity_factors":["Extensive cross-references to multiple prudential standards (GPS 001, GPS 114, GPS 310, GPS 320) for definitions and audit requirements","Detailed tabular reporting form with 13 specific columns requiring precise categorisation of financial and geographic data","Technical insurance terminology requiring external actuarial knowledge (IBNR, central estimate, deferred reinsurance expense)","Complex domicile reporting rules using a specific 100+ entry country code system with residual categories and special territorial inclusions","Conditional coverage threshold (95% minimum of total exposure) and collateral grading rules"],"plain_english_summary":"This law requires parent companies of large \"Level 2\" insurance groups to annually report detailed reinsurance recoverables to APRA — who the reinsurers are, their locations and ratings, any collateral or guarantees, and amounts owed (including overdue and IBNR estimates). Reports must cover ~95% of exposures, be electronically filed via APRA’s system and CEO/CFO-signed.\n\nIt matters because APRA uses the data to spot concentrated or risky reinsurance exposures that could threaten insurers and policyholders."},"flash_summary":{"complexity_score":5,"scope_assessment":{"changed":false,"description":"The Reporting Standard applies explicitly to the parent entity of Level 2 insurance groups (para 3) and prescribes data, timing and submission mechanics for those entities (paras 4–6, 8–11). APRA retains power to vary reporting for particular groups (para 9) but the instrument does not, on its face, alter the baseline universe of reporters set out here."},"complexity_factors":["Cross‑references to multiple prudential instruments (GPS 001, GPS 114, GPS 320, GRS 001) which determine definitions, valuation and categorisation (see paras 3 and 18(a); instructions referencing GPS 114 and GPS 320).","Detailed tabular reporting with 13 separate data fields including collateral types/amounts, APRA counterparty grades, central estimates, overdue recoverables, IBNR and deferred expense (Reporting Form and Specific instructions for columns 1–13).","Minimum coverage rule requiring reporting of counterparties that in aggregate represent at least 95% of specified reinsurance balances (Reinsurance assets by counterparty section).","APRA discretion to change reporting frequency or requirements for particular groups and to vary the form (paras 9 and 17), and requirement that such discretions be exercised in writing (para 19).","Operational requirements for electronic submission via ‘Direct to APRA’ (D2A), digital signature and authorised submitters, plus agent submission and retention duties (paras 7, 14–16).","Quality control and governance obligations placed on the Level 2 parent’s Board and senior management to maintain systems, processes and controls for submitted data (para 12).","Audit and assurance carve‑outs: ordinary audit/review not required but APRA may mandate special purpose reviews of systems or data (Audit matters section; GPS 310 reference).","Extensive country/domicile coding and an appendix with a long country list that increases mapping and validation work for reporters (Appendix 1)."],"plain_english_summary":"This Determination establishes Reporting Standard GRS 460.0_G, which requires the parent entity of a Level 2 insurance group to provide APRA with detailed, itemised data on reinsurance exposures to individual counterparties. It sets the electronic form, timing, minimum coverage threshold (95% of specified reinsurance balances), quality‑control, authorisation and retention rules, and gives APRA discretion to alter frequency or require additional review. The parent entity bears the compliance and data‑collection costs; APRA sets reporting detail and may require extra assurance."}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-103-of-2013-grs-460-0-g-rein","history":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-103-of-2013-grs-460-0-g-rein/history","analysis":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-103-of-2013-grs-460-0-g-rein/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-103-of-2013-grs-460-0-g-rein/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-103-of-2013-grs-460-0-g-rein/important-cases","documents":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-103-of-2013-grs-460-0-g-rein/documents"}}