{"id":"F2023L00627","name":"Financial Sector (Collection of Data) (reporting standard) determination No. 112 of 2023","slug":"financial-sector-collection-of-data-reporting-standard-determination-no-112-of-2023","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":104325,"registerId":"commonwealth-F2023L00627-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Reporting Standard LRS 110.0","sectionType":"part","heading":"Reporting Standard LRS 110.0","content":"![Commonwealth Coat of Arms of Australia](image.002.png)\n\n# Reporting Standard LRS 110.0\n\n# Prescribed Capital Amount\n\n## Objective of this Reporting Standard\n\nThis Reporting Standard sets out the requirements for the provision of information to APRA relating to a life insurance company’s prescribed capital amount.\n\nIt includes associated specific instructions and must be read in conjunction with Reporting Standard LRS 001 Reporting Requirements (LRS 001), including the general instruction guide and Prudential Standard LPS 110 Capital Adequacy (LPS 110).\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. The information reported to APRA under this Reporting Standard is used by APRA for the purpose of prudential supervision including assessing compliance with capital adequacy standards.\n\nApplication and commencement\n\n3. This Reporting Standard applies to all life insurance companies including friendly societies (together referred to as ‘life companies’) registered under the Life Insurance Act 1995 (Life Act). This Reporting Standard applies for reporting periods ending on or after 1 July 2023.\n\nInformation required\n\n4. A life company must provide APRA with the information required by this Reporting Standard for each reporting period.\n\n5. The information reported to APRA under this Reporting Standard is not required to be given to policy owners pursuant to section 124 of the Life Act. It does not constitute a reporting document for the purposes of section 124.\n\nMethod of submission\n\n6. The information required by this Reporting Standard must be given to APRA:\n\n    (a) in electronic format using an electronic method available on APRA’s website; or\n    (b) by a method notified by APRA prior to submission.\n\nReporting periods and due dates\n\n7. Subject to paragraph 8, a life company must provide the information required by this Reporting Standard:\n\n(a) in respect of each quarter based on the financial year of the life company on an unaudited basis; and\n\n(b) in respect of each financial year of the life company on an audited basis.\n\nNote 1: This means that information provided under this Reporting Standard will be submitted five times for a full financial year.\n\nNote 2: The annual audited information provided under this Reporting Standard must be submitted in conjunction with the annual auditor’s report, as required under Prudential Standard LPS 310 Audit and Related Matters.\n\n8. If, having regard to the particular circumstances of a life company, APRA considers it necessary or desirable to obtain information more or less frequently than as provided by subparagraph 7(a) or 7(b), APRA may, by notice in writing, change the reporting periods, or specify reporting periods, for the particular life company.\n\n9. The information required by this Reporting Standard in respect of a life company must be provided to APRA:\n\n(a) in the case of quarterly information, within 20 business days after the end of the reporting period to which the information relates;\n\n(b) in the case of annual information, within three months after the end of the reporting period to which the information relates; or\n\n(c) in the case of information provided in accordance with paragraph 8, within the time specified by notice in writing.\n\n10. APRA may, in writing, grant a life company an extension of a due date, in which case the new due date will be the date on the notice of extension.\n\nNote: For the avoidance of doubt, if the due date for a particular reporting period falls on a day other than a usual business day, a life company is nonetheless required to submit the information required no later than the due date.\n\nQuality control\n\n11. The information provided by a life company under this Reporting Standard must be the product of systems, processes and controls that have been reviewed and tested by the Auditor of the life company. This will require the Auditor to review and test the life company’s systems, processes and controls supporting the reporting of the information to enable the life company to provide reliable financial information to APRA. This review and testing must be done on:\n\n(a) an annual basis or more frequently if necessary to enable the Auditor to form an opinion on the reliability and accuracy of data; and\n\n(b) at least a limited assurance engagement consistent with professional standards and guidance notes issued by the Auditing and Assurance Standards Board as may be amended from time to time, to the extent that they are not inconsistent with the requirements of Prudential Standard LPS 310 Audit and Related Matters.\n\n12. All information provided by a life company under this Reporting Standard must be subject to systems, processes and controls developed by the life company for the internal review and authorisation of that information. It is the responsibility of the Board and senior management of the life company to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.\n\n13. Actuarial valuations and calculations included in or used in the preparation of the information provided to APRA must be in accordance with the prudential standards in force for the reporting period. However, life companies may use reasonable estimates when preparing information that will not be audited (i.e. for the first four submissions of information for a full financial year).\n\nAuthorisation\n\n14. When an officer or agent of a life company provides the information required by this Reporting Standard using an electronic format, the officer or agent must digitally sign the relevant information using a digital certificate acceptable to APRA.\n\n    15. An officer or agent of a life company who submits information under this Reporting Standard must be authorised by either:\n\n(a) the Principal Executive Officer of the life company; or\n\n(b) the Chief Financial Officer of the life company.\n\n# Variations\n\n16. APRA may, by written notice to the life company, vary the reporting requirements of this Reporting Standard in relation to that life company.\n\nTransition\n\n17. A life company must report under the old reporting standard in respect of a transitional reporting period. For these purposes:\n\nold reporting standard means the reporting standard revoked in the determination making this Reporting Standard; and\n\ntransitional reporting period means a reporting period under the old reporting standard:\n\n    (a) which ended before 1 July 2023; and\n    (b) in relation to which the life company was required, under the old reporting standard, to report by a date on or after the date of revocation of the old reporting standard.\n\nNote: For the avoidance of doubt, if a life company was required to report under an old reporting standard, and the reporting documents were due before the date of revocation of the old reporting standard, the life company is still required to provide any overdue reporting documents in accordance with the old reporting standard.\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 Prudential Standard LPS 001 Definitions (LPS 001); and\n\n(b) the following definitions are applicable:\n\nAuditor means an auditor appointed under paragraph 83 of the Life Act.\n\ncapital adequacy standards means the prudential standards which relate to capital adequacy as defined in LPS 001.\n\nChief Financial Officer means the chief financial officer of the life company, by whatever name called.\n\nfinancial year has the meaning in the Corporations Act 2001.\n\ngeneral instruction guide refers to the general instruction guide set out in Attachment A of LRS 001.\n\nLife Act means the Life Insurance Act 1995.\n\nPrincipal Executive Officer means the principal executive officer of the life company, by whatever name called, and whether or not he or she is a member of the governing board of the entity.\n\nreporting period means a reporting period under subparagraph 7(a) or 7(b) or, if applicable, paragraph 8.\n\n19. Unless the contrary intention appears, a reference to an Act, Prudential Standard, Reporting Standard, Australian Accounting or Auditing Standard is a reference to the instrument as in force from time to time.","sortOrder":0},{"sectionNumber":"Prescribed Capital Amount","sectionType":"part","heading":"Prescribed Capital Amount","content":"![Commonwealth Coat of Arms of Australia](image.002.png)\n\n# Reporting Standard LRS 110.0\n\n# Prescribed Capital Amount\n\n## Objective of this Reporting Standard\n\nThis Reporting Standard sets out the requirements for the provision of information to APRA relating to a life insurance company’s prescribed capital amount.\n\nIt includes associated specific instructions and must be read in conjunction with Reporting Standard LRS 001 Reporting Requirements (LRS 001), including the general instruction guide and Prudential Standard LPS 110 Capital Adequacy (LPS 110).\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. The information reported to APRA under this Reporting Standard is used by APRA for the purpose of prudential supervision including assessing compliance with capital adequacy standards.\n\nApplication and commencement\n\n3. This Reporting Standard applies to all life insurance companies including friendly societies (together referred to as ‘life companies’) registered under the Life Insurance Act 1995 (Life Act). This Reporting Standard applies for reporting periods ending on or after 1 July 2023.\n\nInformation required\n\n4. A life company must provide APRA with the information required by this Reporting Standard for each reporting period.\n\n5. The information reported to APRA under this Reporting Standard is not required to be given to policy owners pursuant to section 124 of the Life Act. It does not constitute a reporting document for the purposes of section 124.\n\nMethod of submission\n\n6. The information required by this Reporting Standard must be given to APRA:\n\n    (a) in electronic format using an electronic method available on APRA’s website; or\n    (b) by a method notified by APRA prior to submission.\n\nReporting periods and due dates\n\n7. Subject to paragraph 8, a life company must provide the information required by this Reporting Standard:\n\n(a) in respect of each quarter based on the financial year of the life company on an unaudited basis; and\n\n(b) in respect of each financial year of the life company on an audited basis.\n\nNote 1: This means that information provided under this Reporting Standard will be submitted five times for a full financial year.\n\nNote 2: The annual audited information provided under this Reporting Standard must be submitted in conjunction with the annual auditor’s report, as required under Prudential Standard LPS 310 Audit and Related Matters.\n\n8. If, having regard to the particular circumstances of a life company, APRA considers it necessary or desirable to obtain information more or less frequently than as provided by subparagraph 7(a) or 7(b), APRA may, by notice in writing, change the reporting periods, or specify reporting periods, for the particular life company.\n\n9. The information required by this Reporting Standard in respect of a life company must be provided to APRA:\n\n(a) in the case of quarterly information, within 20 business days after the end of the reporting period to which the information relates;\n\n(b) in the case of annual information, within three months after the end of the reporting period to which the information relates; or\n\n(c) in the case of information provided in accordance with paragraph 8, within the time specified by notice in writing.\n\n10. APRA may, in writing, grant a life company an extension of a due date, in which case the new due date will be the date on the notice of extension.\n\nNote: For the avoidance of doubt, if the due date for a particular reporting period falls on a day other than a usual business day, a life company is nonetheless required to submit the information required no later than the due date.\n\nQuality control\n\n11. The information provided by a life company under this Reporting Standard must be the product of systems, processes and controls that have been reviewed and tested by the Auditor of the life company. This will require the Auditor to review and test the life company’s systems, processes and controls supporting the reporting of the information to enable the life company to provide reliable financial information to APRA. This review and testing must be done on:\n\n(a) an annual basis or more frequently if necessary to enable the Auditor to form an opinion on the reliability and accuracy of data; and\n\n(b) at least a limited assurance engagement consistent with professional standards and guidance notes issued by the Auditing and Assurance Standards Board as may be amended from time to time, to the extent that they are not inconsistent with the requirements of Prudential Standard LPS 310 Audit and Related Matters.\n\n12. All information provided by a life company under this Reporting Standard must be subject to systems, processes and controls developed by the life company for the internal review and authorisation of that information. It is the responsibility of the Board and senior management of the life company to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.\n\n13. Actuarial valuations and calculations included in or used in the preparation of the information provided to APRA must be in accordance with the prudential standards in force for the reporting period. However, life companies may use reasonable estimates when preparing information that will not be audited (i.e. for the first four submissions of information for a full financial year).\n\nAuthorisation\n\n14. When an officer or agent of a life company provides the information required by this Reporting Standard using an electronic format, the officer or agent must digitally sign the relevant information using a digital certificate acceptable to APRA.\n\n    15. An officer or agent of a life company who submits information under this Reporting Standard must be authorised by either:\n\n(a) the Principal Executive Officer of the life company; or\n\n(b) the Chief Financial Officer of the life company.\n\n# Variations\n\n16. APRA may, by written notice to the life company, vary the reporting requirements of this Reporting Standard in relation to that life company.\n\nTransition\n\n17. A life company must report under the old reporting standard in respect of a transitional reporting period. For these purposes:\n\nold reporting standard means the reporting standard revoked in the determination making this Reporting Standard; and\n\ntransitional reporting period means a reporting period under the old reporting standard:\n\n    (a) which ended before 1 July 2023; and\n    (b) in relation to which the life company was required, under the old reporting standard, to report by a date on or after the date of revocation of the old reporting standard.\n\nNote: For the avoidance of doubt, if a life company was required to report under an old reporting standard, and the reporting documents were due before the date of revocation of the old reporting standard, the life company is still required to provide any overdue reporting documents in accordance with the old reporting standard.\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 Prudential Standard LPS 001 Definitions (LPS 001); and\n\n(b) the following definitions are applicable:\n\nAuditor means an auditor appointed under paragraph 83 of the Life Act.\n\ncapital adequacy standards means the prudential standards which relate to capital adequacy as defined in LPS 001.\n\nChief Financial Officer means the chief financial officer of the life company, by whatever name called.\n\nfinancial year has the meaning in the Corporations Act 2001.\n\ngeneral instruction guide refers to the general instruction guide set out in Attachment A of LRS 001.\n\nLife Act means the Life Insurance Act 1995.\n\nPrincipal Executive Officer means the principal executive officer of the life company, by whatever name called, and whether or not he or she is a member of the governing board of the entity.\n\nreporting period means a reporting period under subparagraph 7(a) or 7(b) or, if applicable, paragraph 8.\n\n19. Unless the contrary intention appears, a reference to an Act, Prudential Standard, Reporting Standard, Australian Accounting or Auditing Standard is a reference to the instrument as in force from time to time.","sortOrder":1},{"sectionNumber":"Objective of this Reporting Standard","sectionType":"part","heading":"Objective of this Reporting Standard","content":"## Objective of this Reporting Standard\n\nThis Reporting Standard sets out the requirements for the provision of information to APRA relating to a life insurance company’s prescribed capital amount.\n\nIt includes associated specific instructions and must be read in conjunction with Reporting Standard LRS 001 Reporting Requirements (LRS 001), including the general instruction guide and Prudential Standard LPS 110 Capital Adequacy (LPS 110).\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. The information reported to APRA under this Reporting Standard is used by APRA for the purpose of prudential supervision including assessing compliance with capital adequacy standards.\n\nApplication and commencement\n\n3. This Reporting Standard applies to all life insurance companies including friendly societies (together referred to as ‘life companies’) registered under the Life Insurance Act 1995 (Life Act). This Reporting Standard applies for reporting periods ending on or after 1 July 2023.\n\nInformation required\n\n4. A life company must provide APRA with the information required by this Reporting Standard for each reporting period.\n\n5. The information reported to APRA under this Reporting Standard is not required to be given to policy owners pursuant to section 124 of the Life Act. It does not constitute a reporting document for the purposes of section 124.\n\nMethod of submission\n\n6. The information required by this Reporting Standard must be given to APRA:\n\n    (a) in electronic format using an electronic method available on APRA’s website; or\n    (b) by a method notified by APRA prior to submission.\n\nReporting periods and due dates\n\n7. Subject to paragraph 8, a life company must provide the information required by this Reporting Standard:\n\n(a) in respect of each quarter based on the financial year of the life company on an unaudited basis; and\n\n(b) in respect of each financial year of the life company on an audited basis.\n\nNote 1: This means that information provided under this Reporting Standard will be submitted five times for a full financial year.\n\nNote 2: The annual audited information provided under this Reporting Standard must be submitted in conjunction with the annual auditor’s report, as required under Prudential Standard LPS 310 Audit and Related Matters.\n\n8. If, having regard to the particular circumstances of a life company, APRA considers it necessary or desirable to obtain information more or less frequently than as provided by subparagraph 7(a) or 7(b), APRA may, by notice in writing, change the reporting periods, or specify reporting periods, for the particular life company.\n\n9. The information required by this Reporting Standard in respect of a life company must be provided to APRA:\n\n(a) in the case of quarterly information, within 20 business days after the end of the reporting period to which the information relates;\n\n(b) in the case of annual information, within three months after the end of the reporting period to which the information relates; or\n\n(c) in the case of information provided in accordance with paragraph 8, within the time specified by notice in writing.\n\n10. APRA may, in writing, grant a life company an extension of a due date, in which case the new due date will be the date on the notice of extension.\n\nNote: For the avoidance of doubt, if the due date for a particular reporting period falls on a day other than a usual business day, a life company is nonetheless required to submit the information required no later than the due date.\n\nQuality control\n\n11. The information provided by a life company under this Reporting Standard must be the product of systems, processes and controls that have been reviewed and tested by the Auditor of the life company. This will require the Auditor to review and test the life company’s systems, processes and controls supporting the reporting of the information to enable the life company to provide reliable financial information to APRA. This review and testing must be done on:\n\n(a) an annual basis or more frequently if necessary to enable the Auditor to form an opinion on the reliability and accuracy of data; and\n\n(b) at least a limited assurance engagement consistent with professional standards and guidance notes issued by the Auditing and Assurance Standards Board as may be amended from time to time, to the extent that they are not inconsistent with the requirements of Prudential Standard LPS 310 Audit and Related Matters.\n\n12. All information provided by a life company under this Reporting Standard must be subject to systems, processes and controls developed by the life company for the internal review and authorisation of that information. It is the responsibility of the Board and senior management of the life company to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.\n\n13. Actuarial valuations and calculations included in or used in the preparation of the information provided to APRA must be in accordance with the prudential standards in force for the reporting period. However, life companies may use reasonable estimates when preparing information that will not be audited (i.e. for the first four submissions of information for a full financial year).\n\nAuthorisation\n\n14. When an officer or agent of a life company provides the information required by this Reporting Standard using an electronic format, the officer or agent must digitally sign the relevant information using a digital certificate acceptable to APRA.\n\n    15. An officer or agent of a life company who submits information under this Reporting Standard must be authorised by either:\n\n(a) the Principal Executive Officer of the life company; or\n\n(b) the Chief Financial Officer of the life company.","sortOrder":2},{"sectionNumber":"Variations","sectionType":"part","heading":"Variations","content":"# Variations\n\n16. APRA may, by written notice to the life company, vary the reporting requirements of this Reporting Standard in relation to that life company.\n\nTransition\n\n17. A life company must report under the old reporting standard in respect of a transitional reporting period. For these purposes:\n\nold reporting standard means the reporting standard revoked in the determination making this Reporting Standard; and\n\ntransitional reporting period means a reporting period under the old reporting standard:\n\n    (a) which ended before 1 July 2023; and\n    (b) in relation to which the life company was required, under the old reporting standard, to report by a date on or after the date of revocation of the old reporting standard.\n\nNote: For the avoidance of doubt, if a life company was required to report under an old reporting standard, and the reporting documents were due before the date of revocation of the old reporting standard, the life company is still required to provide any overdue reporting documents in accordance with the old reporting standard.\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 Prudential Standard LPS 001 Definitions (LPS 001); and\n\n(b) the following definitions are applicable:\n\nAuditor means an auditor appointed under paragraph 83 of the Life Act.\n\ncapital adequacy standards means the prudential standards which relate to capital adequacy as defined in LPS 001.\n\nChief Financial Officer means the chief financial officer of the life company, by whatever name called.\n\nfinancial year has the meaning in the Corporations Act 2001.\n\ngeneral instruction guide refers to the general instruction guide set out in Attachment A of LRS 001.\n\nLife Act means the Life Insurance Act 1995.\n\nPrincipal Executive Officer means the principal executive officer of the life company, by whatever name called, and whether or not he or she is a member of the governing board of the entity.\n\nreporting period means a reporting period under subparagraph 7(a) or 7(b) or, if applicable, paragraph 8.\n\n19. Unless the contrary intention appears, a reference to an Act, Prudential Standard, Reporting Standard, Australian Accounting or Auditing Standard is a reference to the instrument as in force from time to time.","sortOrder":3},{"sectionNumber":"General instructions","sectionType":"part","heading":"General instructions","content":"# Reporting Standard LRS 110.0\n\n# Prescribed Capital Amount\n\n## General instructions\n\n### Reporting tables\n\nTables described in this Reporting Standard list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.\n\n### Definitions\n\nTerms highlighted in bold italics indicate that the definition is provided in these instructions.\n\n### A\n\n| Adjustments to prescribed capital amount as approved by APRA | These are adjustments made to a fund’s prescribed capital amount if APRA is of the view that the Standard Method for calculating the prescribed capital amount does not produce an appropriate outcome in respect of a fund, or if a life company has used inappropriate judgement or estimation in calculating the prescribed capital amount for that fund.Approved adjustments are to be reported separately in Table 1 of Reporting Standard LRS 111.0 Adjustments and Exclusions highlighting the description of the adjustment, transitional status and amount of adjustment applied. |\n| ------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Aggregate risk charge for variable annuities                 | This amount is the aggregate risk charge for variable annuity business that relates to asset and insurance risks, after allowance for diversification.This must be determined in accordance with the prescribed approach set out in LPS 110.                                                                                                                                                                                                                                                                                                                                               |\n| Aggregation benefit                                          | The aggregation benefit relates to the recognition of diversification benefits between asset and insurance risks for life business other than variable annuities.This must be calculated in accordance with the prescribed formula in LPS 110.                                                                                                                                                                                                                                                                                                                                             |\n| Asset Concentration Risk Charge                              | The Asset Concentration Risk Charge is the minimum amount of capital required to be held against asset concentration risks. The Asset Concentration Risk Charge relates to the risk resulting from investment concentrations in individual assets or large exposures to individual counterparties or groups of related counterparties resulting in adverse movements in the fund’s capital base.This must be determined in accordance with Prudential Standard LPS 117 Capital Adequacy: Asset Concentration Risk Charge.                                                                  |\n| Asset Risk Charge                                            | The Asset Risk Charge is the minimum amount of capital required to be held against asset risks. The Asset Risk Charge relates to the risk of adverse movements in the value of the fund’s capital base due to credit or market risks.This must be determined in accordance with Prudential Standard LPS 114 Capital Adequacy: Asset Risk Charge (LPS 114).                                                                                                                                                                                                                                 |\n| Asset Risk Charge - aggregated risk charge component         | A life company must calculate, for each of its funds, the risk charge components defined in LPS 114 by considering the impact on the capital base of the fund of a range of stresses. These risk charge components are then aggregated using the formula set out in LPS 114. The result of applying the formula is defined as the Asset Risk Charge - aggregated risk charge component.                                                                                                                                                                                                    |\n| Asset Risk Charge - impact of diversification                | The Asset Risk Charge - impact of diversification relates to the recognition of diversification benefits between the asset risk charge components as set out in LPS 114.This must be calculated as the sum of the risk charge components less the Asset Risk Charge - aggregated risk charge component.                                                                                                                                                                                                                                                                                    |\n\n### C\n\n| Combined Stress Scenario Adjustment | This Combined Stress Scenario tests whether the tax benefits recognised in determining the Insurance Risk Charge and the Asset Risk Charge can be offset against deferred tax liabilities. It also tests whether any future management actions allowed for in the calculation of the Insurance Risk Charge and the Asset Risk Charge would be achievable. This item also recognises any second order interactions between the asset and insurance risk stresses.This adjustment must be determined in accordance with LPS 110. |\n| ----------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n### I\n\n| Insurance Risk Charge | The Insurance Risk Charge is the minimum amount of capital required to be held against insurance risks. The Insurance Risk Charge relates to the risk of adverse impacts due to movements in future mortality, morbidity, longevity, servicing expenses and lapses.This must be determined in accordance with Prudential Standard LPS 115 Capital Adequacy: Insurance Risk Charge. |\n| --------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n### L\n\n| Life company fund | This means the type of life company fund. Possible types are:statutory fund;shareholder fund;benefit fund; andmanagement fund. |\n| ----------------- | ------------------------------------------------------------------------------------------------------------------------------ |\n\n### O\n\n| Operational Risk Charge                                       | The Operational Risk Charge is the minimum amount of capital required to be held against operational risks. The Operational Risk Charge relates to the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events.This must be determined in accordance with Prudential Standard LPS 118 Capital Adequacy: Operational Risk Charge (LPS 118). |\n| ------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Operational Risk Charge for investment-linked business (ORCI) | This is the Operational Risk Charge relating to the fund's investment-linked business.The ORCI must be calculated in accordance with LPS 118.                                                                                                                                                                                                                                                      |\n| Operational Risk Charge for other business (ORCO)             | This is the Operational Risk Charge relating to the fund's businesses other than risk and investment-linked business.The ORCO must be calculated in accordance with LPS 118.                                                                                                                                                                                                                       |\n| Operational Risk Charge for risk business (ORCR)              | This is the Operational Risk Charge relating to the fund's risk business.The ORCR must be calculated in accordance with LPS 118.                                                                                                                                                                                                                                                                   |\n\n### P\n\n| Prescribed capital amount | The prescribed capital amount for the fund is calculated as the sum of:Asset Risk Charge;Insurance Risk Charge;Aggregate risk charge for variable annuities;Asset Concentration Risk Charge;Operational Risk Charge;Combined Stress Scenario Adjustment; andadjustments to prescribed capital amount as approved by APRAless:aggregation benefit.The prescribed capital amount for a life company is subject to a minimum of $10 million, and will be automatically applied where the calculated sum of risk charge components is less than this amount. |\n| ------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n### R\n\n| Risk charge components | The risk charge components, as set out in LPS 114, are calculated by determining the fall in the capital base of the regulated institution in seven stress tests. |\n| ---------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n  \n\n## Specific Instructions\n\n### Table 1: Prescribed Capital Amount (Individual Funds)\n\n### Reporting basis\n\nThis table applies to life companies including friendly societies. This table applies to statutory, shareholder, benefit and management funds.\n\nReport all information as at the reporting date.\n\n### Units of measurement\n\nValues in this table must be completed in whole Australian dollars.\n\n| Column 1 | Report the value for each of the items listed below. |\n| -------- | ---------------------------------------------------- |\n\n1\\. Asset Risk Charge\n\n| Item 1   | Report Asset Risk Charge.                                                                   |\n| -------- | ------------------------------------------------------------------------------------------- |\n| Item 1.1 | Report Asset Risk Charge - impact of diversification.Report this item as a positive number. |\n| Item 1.2 | Report Asset Risk Charge - aggregated risk charge component.                                |\n\n2\\. Insurance Risk Charge\n\n| Item 2 | Report Insurance Risk Charge. |\n| ------ | ----------------------------- |\n\n3\\. Aggregate risk charge for variable annuities\n\n| Item 3 | Report aggregate risk charge for variable annuities. |\n| ------ | ---------------------------------------------------- |\n\n4\\. Asset Concentration Risk Charge\n\n| Item 4 | Report Asset Concentration Risk Charge. |\n| ------ | --------------------------------------- |\n\n5\\. Operational Risk Charge\n\n| Item 5   | Report Operational Risk Charge.                                       |\n| -------- | --------------------------------------------------------------------- |\n| Item 5.1 | Report Operational Risk Charge for risk business (ORCR).              |\n| Item 5.2 | Report Operational Risk Charge for investment-linked business (ORCI). |\n| Item 5.3 | Report Operational Risk Charge for other business (ORCO).             |\n\n6\\. Aggregation benefit\n\n| Item 6 | Report aggregation benefit.An aggregation benefit which would result in a decrease to prescribed capital amount should be reported as a positive value. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n7\\. Combined Stress Scenario Adjustment\n\n| Item 7 | Report Combined Stress Scenario Adjustment. |\n| ------ | ------------------------------------------- |\n\n8\\. Adjustments to prescribed capital amount as approved by APRA\n\n| Item 8 | Report the value of any adjustments to the prescribed capital amount as approved by APRA.Report adjustments that would result in an increase to prescribed capital amount as a positive value. |\n| ------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n9\\. Prescribed capital amount\n\n| Item 9 | Prescribed capital amount is a derived item and is calculated as the sum of:item 1;item 2;item 3;item 4;item 5;item 7; anditem 8less:item 6. |\n| ------ | -------------------------------------------------------------------------------------------------------------------------------------------- |\n\n  \n\n### Table 2: Prescribed Capital Amount (Life Company)\n\n### Reporting basis\n\nThis table applies to life companies including friendly societies. Data must be submitted at the level of the life company.\n\nReport all information as at the reporting date.\n\n### Units of measurement\n\nValues in this table must be completed in whole Australian dollars.\n\n| Column 1 | Report the value for each of the items listed below. |\n| -------- | ---------------------------------------------------- |\n\n1\\. Asset Risk Charge\n\n| Item 1 | Report Asset Risk Charge. |\n| ------ | ------------------------- |\n\n2\\. Insurance Risk Charge\n\n| Item 2 | Report Insurance Risk Charge. |\n| ------ | ----------------------------- |\n\n3\\. Aggregate risk charge for variable annuities\n\n| Item 3 | Report aggregate risk charge for variable annuities. |\n| ------ | ---------------------------------------------------- |\n\n4\\. Asset Concentration Risk Charge\n\n| Item 4 | Report Asset Concentration Risk Charge. |\n| ------ | --------------------------------------- |\n\n5\\. Operational Risk Charge\n\n| Item 5 | Report Operational Risk Charge. |\n| ------ | ------------------------------- |\n\n6\\. Aggregation benefit\n\n| Item 6 | Report aggregation benefit.An aggregation benefit which would result in a decrease to prescribed capital amount should be reported as a positive value. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n7\\. Combined Stress Scenario Adjustment\n\n| Item 7 | Report Combined Stress Scenario Adjustment. |\n| ------ | ------------------------------------------- |\n\n8\\. Adjustments to prescribed capital amount as approved by APRA\n\n| Item 8 | Report the value of any adjustments to the prescribed capital amount as approved by APRA.Report adjustments that would result in an increase to prescribed capital amount as a positive value. |\n| ------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n9\\. Prescribed capital amount\n\n| Item 9 | Prescribed capital amount is a derived item and is calculated as the sum of:item 1;item 2;item 3;item 4;item 5;item 7; anditem 8less:item 6.This is subject to the minimum value of $10 million for a life company. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |","sortOrder":6},{"sectionNumber":"Reporting tables","sectionType":"division","heading":"Reporting tables","content":"### Reporting tables\n\nTables described in this Reporting Standard list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.","sortOrder":7},{"sectionNumber":"Definitions","sectionType":"division","heading":"Definitions","content":"### Definitions\n\nTerms highlighted in bold italics indicate that the definition is provided in these instructions.","sortOrder":8},{"sectionNumber":"A","sectionType":"division","heading":"A","content":"### A\n\n| Adjustments to prescribed capital amount as approved by APRA | These are adjustments made to a fund’s prescribed capital amount if APRA is of the view that the Standard Method for calculating the prescribed capital amount does not produce an appropriate outcome in respect of a fund, or if a life company has used inappropriate judgement or estimation in calculating the prescribed capital amount for that fund.Approved adjustments are to be reported separately in Table 1 of Reporting Standard LRS 111.0 Adjustments and Exclusions highlighting the description of the adjustment, transitional status and amount of adjustment applied. |\n| ------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Aggregate risk charge for variable annuities                 | This amount is the aggregate risk charge for variable annuity business that relates to asset and insurance risks, after allowance for diversification.This must be determined in accordance with the prescribed approach set out in LPS 110.                                                                                                                                                                                                                                                                                                                                               |\n| Aggregation benefit                                          | The aggregation benefit relates to the recognition of diversification benefits between asset and insurance risks for life business other than variable annuities.This must be calculated in accordance with the prescribed formula in LPS 110.                                                                                                                                                                                                                                                                                                                                             |\n| Asset Concentration Risk Charge                              | The Asset Concentration Risk Charge is the minimum amount of capital required to be held against asset concentration risks. The Asset Concentration Risk Charge relates to the risk resulting from investment concentrations in individual assets or large exposures to individual counterparties or groups of related counterparties resulting in adverse movements in the fund’s capital base.This must be determined in accordance with Prudential Standard LPS 117 Capital Adequacy: Asset Concentration Risk Charge.                                                                  |\n| Asset Risk Charge                                            | The Asset Risk Charge is the minimum amount of capital required to be held against asset risks. The Asset Risk Charge relates to the risk of adverse movements in the value of the fund’s capital base due to credit or market risks.This must be determined in accordance with Prudential Standard LPS 114 Capital Adequacy: Asset Risk Charge (LPS 114).                                                                                                                                                                                                                                 |\n| Asset Risk Charge - aggregated risk charge component         | A life company must calculate, for each of its funds, the risk charge components defined in LPS 114 by considering the impact on the capital base of the fund of a range of stresses. These risk charge components are then aggregated using the formula set out in LPS 114. The result of applying the formula is defined as the Asset Risk Charge - aggregated risk charge component.                                                                                                                                                                                                    |\n| Asset Risk Charge - impact of diversification                | The Asset Risk Charge - impact of diversification relates to the recognition of diversification benefits between the asset risk charge components as set out in LPS 114.This must be calculated as the sum of the risk charge components less the Asset Risk Charge - aggregated risk charge component.                                                                                                                                                                                                                                                                                    |","sortOrder":9},{"sectionNumber":"C","sectionType":"division","heading":"C","content":"### C\n\n| Combined Stress Scenario Adjustment | This Combined Stress Scenario tests whether the tax benefits recognised in determining the Insurance Risk Charge and the Asset Risk Charge can be offset against deferred tax liabilities. It also tests whether any future management actions allowed for in the calculation of the Insurance Risk Charge and the Asset Risk Charge would be achievable. This item also recognises any second order interactions between the asset and insurance risk stresses.This adjustment must be determined in accordance with LPS 110. |\n| ----------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |","sortOrder":10},{"sectionNumber":"I","sectionType":"division","heading":"I","content":"### I\n\n| Insurance Risk Charge | The Insurance Risk Charge is the minimum amount of capital required to be held against insurance risks. The Insurance Risk Charge relates to the risk of adverse impacts due to movements in future mortality, morbidity, longevity, servicing expenses and lapses.This must be determined in accordance with Prudential Standard LPS 115 Capital Adequacy: Insurance Risk Charge. |\n| --------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |","sortOrder":11},{"sectionNumber":"L","sectionType":"division","heading":"L","content":"### L\n\n| Life company fund | This means the type of life company fund. Possible types are:statutory fund;shareholder fund;benefit fund; andmanagement fund. |\n| ----------------- | ------------------------------------------------------------------------------------------------------------------------------ |","sortOrder":12},{"sectionNumber":"O","sectionType":"division","heading":"O","content":"### O\n\n| Operational Risk Charge                                       | The Operational Risk Charge is the minimum amount of capital required to be held against operational risks. The Operational Risk Charge relates to the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events.This must be determined in accordance with Prudential Standard LPS 118 Capital Adequacy: Operational Risk Charge (LPS 118). |\n| ------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Operational Risk Charge for investment-linked business (ORCI) | This is the Operational Risk Charge relating to the fund's investment-linked business.The ORCI must be calculated in accordance with LPS 118.                                                                                                                                                                                                                                                      |\n| Operational Risk Charge for other business (ORCO)             | This is the Operational Risk Charge relating to the fund's businesses other than risk and investment-linked business.The ORCO must be calculated in accordance with LPS 118.                                                                                                                                                                                                                       |\n| Operational Risk Charge for risk business (ORCR)              | This is the Operational Risk Charge relating to the fund's risk business.The ORCR must be calculated in accordance with LPS 118.                                                                                                                                                                                                                                                                   |","sortOrder":13},{"sectionNumber":"P","sectionType":"division","heading":"P","content":"### P\n\n| Prescribed capital amount | The prescribed capital amount for the fund is calculated as the sum of:Asset Risk Charge;Insurance Risk Charge;Aggregate risk charge for variable annuities;Asset Concentration Risk Charge;Operational Risk Charge;Combined Stress Scenario Adjustment; andadjustments to prescribed capital amount as approved by APRAless:aggregation benefit.The prescribed capital amount for a life company is subject to a minimum of $10 million, and will be automatically applied where the calculated sum of risk charge components is less than this amount. |\n| ------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |","sortOrder":14},{"sectionNumber":"R","sectionType":"division","heading":"R","content":"### R\n\n| Risk charge components | The risk charge components, as set out in LPS 114, are calculated by determining the fall in the capital base of the regulated institution in seven stress tests. |\n| ---------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------- |","sortOrder":15},{"sectionNumber":"Specific Instructions","sectionType":"part","heading":"Specific Instructions","content":"# Reporting Standard LRS 110.0\n\n# Prescribed Capital Amount\n\n## General instructions\n\n### Reporting tables\n\nTables described in this Reporting Standard list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.\n\n### Definitions\n\nTerms highlighted in bold italics indicate that the definition is provided in these instructions.\n\n### A\n\n| Adjustments to prescribed capital amount as approved by APRA | These are adjustments made to a fund’s prescribed capital amount if APRA is of the view that the Standard Method for calculating the prescribed capital amount does not produce an appropriate outcome in respect of a fund, or if a life company has used inappropriate judgement or estimation in calculating the prescribed capital amount for that fund.Approved adjustments are to be reported separately in Table 1 of Reporting Standard LRS 111.0 Adjustments and Exclusions highlighting the description of the adjustment, transitional status and amount of adjustment applied. |\n| ------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Aggregate risk charge for variable annuities                 | This amount is the aggregate risk charge for variable annuity business that relates to asset and insurance risks, after allowance for diversification.This must be determined in accordance with the prescribed approach set out in LPS 110.                                                                                                                                                                                                                                                                                                                                               |\n| Aggregation benefit                                          | The aggregation benefit relates to the recognition of diversification benefits between asset and insurance risks for life business other than variable annuities.This must be calculated in accordance with the prescribed formula in LPS 110.                                                                                                                                                                                                                                                                                                                                             |\n| Asset Concentration Risk Charge                              | The Asset Concentration Risk Charge is the minimum amount of capital required to be held against asset concentration risks. The Asset Concentration Risk Charge relates to the risk resulting from investment concentrations in individual assets or large exposures to individual counterparties or groups of related counterparties resulting in adverse movements in the fund’s capital base.This must be determined in accordance with Prudential Standard LPS 117 Capital Adequacy: Asset Concentration Risk Charge.                                                                  |\n| Asset Risk Charge                                            | The Asset Risk Charge is the minimum amount of capital required to be held against asset risks. The Asset Risk Charge relates to the risk of adverse movements in the value of the fund’s capital base due to credit or market risks.This must be determined in accordance with Prudential Standard LPS 114 Capital Adequacy: Asset Risk Charge (LPS 114).                                                                                                                                                                                                                                 |\n| Asset Risk Charge - aggregated risk charge component         | A life company must calculate, for each of its funds, the risk charge components defined in LPS 114 by considering the impact on the capital base of the fund of a range of stresses. These risk charge components are then aggregated using the formula set out in LPS 114. The result of applying the formula is defined as the Asset Risk Charge - aggregated risk charge component.                                                                                                                                                                                                    |\n| Asset Risk Charge - impact of diversification                | The Asset Risk Charge - impact of diversification relates to the recognition of diversification benefits between the asset risk charge components as set out in LPS 114.This must be calculated as the sum of the risk charge components less the Asset Risk Charge - aggregated risk charge component.                                                                                                                                                                                                                                                                                    |\n\n### C\n\n| Combined Stress Scenario Adjustment | This Combined Stress Scenario tests whether the tax benefits recognised in determining the Insurance Risk Charge and the Asset Risk Charge can be offset against deferred tax liabilities. It also tests whether any future management actions allowed for in the calculation of the Insurance Risk Charge and the Asset Risk Charge would be achievable. This item also recognises any second order interactions between the asset and insurance risk stresses.This adjustment must be determined in accordance with LPS 110. |\n| ----------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n### I\n\n| Insurance Risk Charge | The Insurance Risk Charge is the minimum amount of capital required to be held against insurance risks. The Insurance Risk Charge relates to the risk of adverse impacts due to movements in future mortality, morbidity, longevity, servicing expenses and lapses.This must be determined in accordance with Prudential Standard LPS 115 Capital Adequacy: Insurance Risk Charge. |\n| --------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n### L\n\n| Life company fund | This means the type of life company fund. Possible types are:statutory fund;shareholder fund;benefit fund; andmanagement fund. |\n| ----------------- | ------------------------------------------------------------------------------------------------------------------------------ |\n\n### O\n\n| Operational Risk Charge                                       | The Operational Risk Charge is the minimum amount of capital required to be held against operational risks. The Operational Risk Charge relates to the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events.This must be determined in accordance with Prudential Standard LPS 118 Capital Adequacy: Operational Risk Charge (LPS 118). |\n| ------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Operational Risk Charge for investment-linked business (ORCI) | This is the Operational Risk Charge relating to the fund's investment-linked business.The ORCI must be calculated in accordance with LPS 118.                                                                                                                                                                                                                                                      |\n| Operational Risk Charge for other business (ORCO)             | This is the Operational Risk Charge relating to the fund's businesses other than risk and investment-linked business.The ORCO must be calculated in accordance with LPS 118.                                                                                                                                                                                                                       |\n| Operational Risk Charge for risk business (ORCR)              | This is the Operational Risk Charge relating to the fund's risk business.The ORCR must be calculated in accordance with LPS 118.                                                                                                                                                                                                                                                                   |\n\n### P\n\n| Prescribed capital amount | The prescribed capital amount for the fund is calculated as the sum of:Asset Risk Charge;Insurance Risk Charge;Aggregate risk charge for variable annuities;Asset Concentration Risk Charge;Operational Risk Charge;Combined Stress Scenario Adjustment; andadjustments to prescribed capital amount as approved by APRAless:aggregation benefit.The prescribed capital amount for a life company is subject to a minimum of $10 million, and will be automatically applied where the calculated sum of risk charge components is less than this amount. |\n| ------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n### R\n\n| Risk charge components | The risk charge components, as set out in LPS 114, are calculated by determining the fall in the capital base of the regulated institution in seven stress tests. |\n| ---------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n  \n\n## Specific Instructions\n\n### Table 1: Prescribed Capital Amount (Individual Funds)\n\n### Reporting basis\n\nThis table applies to life companies including friendly societies. This table applies to statutory, shareholder, benefit and management funds.\n\nReport all information as at the reporting date.\n\n### Units of measurement\n\nValues in this table must be completed in whole Australian dollars.\n\n| Column 1 | Report the value for each of the items listed below. |\n| -------- | ---------------------------------------------------- |\n\n1\\. Asset Risk Charge\n\n| Item 1   | Report Asset Risk Charge.                                                                   |\n| -------- | ------------------------------------------------------------------------------------------- |\n| Item 1.1 | Report Asset Risk Charge - impact of diversification.Report this item as a positive number. |\n| Item 1.2 | Report Asset Risk Charge - aggregated risk charge component.                                |\n\n2\\. Insurance Risk Charge\n\n| Item 2 | Report Insurance Risk Charge. |\n| ------ | ----------------------------- |\n\n3\\. Aggregate risk charge for variable annuities\n\n| Item 3 | Report aggregate risk charge for variable annuities. |\n| ------ | ---------------------------------------------------- |\n\n4\\. Asset Concentration Risk Charge\n\n| Item 4 | Report Asset Concentration Risk Charge. |\n| ------ | --------------------------------------- |\n\n5\\. Operational Risk Charge\n\n| Item 5   | Report Operational Risk Charge.                                       |\n| -------- | --------------------------------------------------------------------- |\n| Item 5.1 | Report Operational Risk Charge for risk business (ORCR).              |\n| Item 5.2 | Report Operational Risk Charge for investment-linked business (ORCI). |\n| Item 5.3 | Report Operational Risk Charge for other business (ORCO).             |\n\n6\\. Aggregation benefit\n\n| Item 6 | Report aggregation benefit.An aggregation benefit which would result in a decrease to prescribed capital amount should be reported as a positive value. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n7\\. Combined Stress Scenario Adjustment\n\n| Item 7 | Report Combined Stress Scenario Adjustment. |\n| ------ | ------------------------------------------- |\n\n8\\. Adjustments to prescribed capital amount as approved by APRA\n\n| Item 8 | Report the value of any adjustments to the prescribed capital amount as approved by APRA.Report adjustments that would result in an increase to prescribed capital amount as a positive value. |\n| ------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n9\\. Prescribed capital amount\n\n| Item 9 | Prescribed capital amount is a derived item and is calculated as the sum of:item 1;item 2;item 3;item 4;item 5;item 7; anditem 8less:item 6. |\n| ------ | -------------------------------------------------------------------------------------------------------------------------------------------- |\n\n  \n\n### Table 2: Prescribed Capital Amount (Life Company)\n\n### Reporting basis\n\nThis table applies to life companies including friendly societies. Data must be submitted at the level of the life company.\n\nReport all information as at the reporting date.\n\n### Units of measurement\n\nValues in this table must be completed in whole Australian dollars.\n\n| Column 1 | Report the value for each of the items listed below. |\n| -------- | ---------------------------------------------------- |\n\n1\\. Asset Risk Charge\n\n| Item 1 | Report Asset Risk Charge. |\n| ------ | ------------------------- |\n\n2\\. Insurance Risk Charge\n\n| Item 2 | Report Insurance Risk Charge. |\n| ------ | ----------------------------- |\n\n3\\. Aggregate risk charge for variable annuities\n\n| Item 3 | Report aggregate risk charge for variable annuities. |\n| ------ | ---------------------------------------------------- |\n\n4\\. Asset Concentration Risk Charge\n\n| Item 4 | Report Asset Concentration Risk Charge. |\n| ------ | --------------------------------------- |\n\n5\\. Operational Risk Charge\n\n| Item 5 | Report Operational Risk Charge. |\n| ------ | ------------------------------- |\n\n6\\. Aggregation benefit\n\n| Item 6 | Report aggregation benefit.An aggregation benefit which would result in a decrease to prescribed capital amount should be reported as a positive value. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n7\\. Combined Stress Scenario Adjustment\n\n| Item 7 | Report Combined Stress Scenario Adjustment. |\n| ------ | ------------------------------------------- |\n\n8\\. Adjustments to prescribed capital amount as approved by APRA\n\n| Item 8 | Report the value of any adjustments to the prescribed capital amount as approved by APRA.Report adjustments that would result in an increase to prescribed capital amount as a positive value. |\n| ------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n9\\. Prescribed capital amount\n\n| Item 9 | Prescribed capital amount is a derived item and is calculated as the sum of:item 1;item 2;item 3;item 4;item 5;item 7; anditem 8less:item 6.This is subject to the minimum value of $10 million for a life company. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |","sortOrder":16},{"sectionNumber":"Table 1: Prescribed Capital Amount (Indi","sectionType":"division","heading":"Table 1: Prescribed Capital Amount (Individual Funds)","content":"# Reporting Standard LRS 110.0\n\n# Prescribed Capital Amount\n\n## General instructions\n\n### Reporting tables\n\nTables described in this Reporting Standard list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.\n\n### Definitions\n\nTerms highlighted in bold italics indicate that the definition is provided in these instructions.\n\n### A\n\n| Adjustments to prescribed capital amount as approved by APRA | These are adjustments made to a fund’s prescribed capital amount if APRA is of the view that the Standard Method for calculating the prescribed capital amount does not produce an appropriate outcome in respect of a fund, or if a life company has used inappropriate judgement or estimation in calculating the prescribed capital amount for that fund.Approved adjustments are to be reported separately in Table 1 of Reporting Standard LRS 111.0 Adjustments and Exclusions highlighting the description of the adjustment, transitional status and amount of adjustment applied. |\n| ------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Aggregate risk charge for variable annuities                 | This amount is the aggregate risk charge for variable annuity business that relates to asset and insurance risks, after allowance for diversification.This must be determined in accordance with the prescribed approach set out in LPS 110.                                                                                                                                                                                                                                                                                                                                               |\n| Aggregation benefit                                          | The aggregation benefit relates to the recognition of diversification benefits between asset and insurance risks for life business other than variable annuities.This must be calculated in accordance with the prescribed formula in LPS 110.                                                                                                                                                                                                                                                                                                                                             |\n| Asset Concentration Risk Charge                              | The Asset Concentration Risk Charge is the minimum amount of capital required to be held against asset concentration risks. The Asset Concentration Risk Charge relates to the risk resulting from investment concentrations in individual assets or large exposures to individual counterparties or groups of related counterparties resulting in adverse movements in the fund’s capital base.This must be determined in accordance with Prudential Standard LPS 117 Capital Adequacy: Asset Concentration Risk Charge.                                                                  |\n| Asset Risk Charge                                            | The Asset Risk Charge is the minimum amount of capital required to be held against asset risks. The Asset Risk Charge relates to the risk of adverse movements in the value of the fund’s capital base due to credit or market risks.This must be determined in accordance with Prudential Standard LPS 114 Capital Adequacy: Asset Risk Charge (LPS 114).                                                                                                                                                                                                                                 |\n| Asset Risk Charge - aggregated risk charge component         | A life company must calculate, for each of its funds, the risk charge components defined in LPS 114 by considering the impact on the capital base of the fund of a range of stresses. These risk charge components are then aggregated using the formula set out in LPS 114. The result of applying the formula is defined as the Asset Risk Charge - aggregated risk charge component.                                                                                                                                                                                                    |\n| Asset Risk Charge - impact of diversification                | The Asset Risk Charge - impact of diversification relates to the recognition of diversification benefits between the asset risk charge components as set out in LPS 114.This must be calculated as the sum of the risk charge components less the Asset Risk Charge - aggregated risk charge component.                                                                                                                                                                                                                                                                                    |\n\n### C\n\n| Combined Stress Scenario Adjustment | This Combined Stress Scenario tests whether the tax benefits recognised in determining the Insurance Risk Charge and the Asset Risk Charge can be offset against deferred tax liabilities. It also tests whether any future management actions allowed for in the calculation of the Insurance Risk Charge and the Asset Risk Charge would be achievable. This item also recognises any second order interactions between the asset and insurance risk stresses.This adjustment must be determined in accordance with LPS 110. |\n| ----------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n### I\n\n| Insurance Risk Charge | The Insurance Risk Charge is the minimum amount of capital required to be held against insurance risks. The Insurance Risk Charge relates to the risk of adverse impacts due to movements in future mortality, morbidity, longevity, servicing expenses and lapses.This must be determined in accordance with Prudential Standard LPS 115 Capital Adequacy: Insurance Risk Charge. |\n| --------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n### L\n\n| Life company fund | This means the type of life company fund. Possible types are:statutory fund;shareholder fund;benefit fund; andmanagement fund. |\n| ----------------- | ------------------------------------------------------------------------------------------------------------------------------ |\n\n### O\n\n| Operational Risk Charge                                       | The Operational Risk Charge is the minimum amount of capital required to be held against operational risks. The Operational Risk Charge relates to the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events.This must be determined in accordance with Prudential Standard LPS 118 Capital Adequacy: Operational Risk Charge (LPS 118). |\n| ------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Operational Risk Charge for investment-linked business (ORCI) | This is the Operational Risk Charge relating to the fund's investment-linked business.The ORCI must be calculated in accordance with LPS 118.                                                                                                                                                                                                                                                      |\n| Operational Risk Charge for other business (ORCO)             | This is the Operational Risk Charge relating to the fund's businesses other than risk and investment-linked business.The ORCO must be calculated in accordance with LPS 118.                                                                                                                                                                                                                       |\n| Operational Risk Charge for risk business (ORCR)              | This is the Operational Risk Charge relating to the fund's risk business.The ORCR must be calculated in accordance with LPS 118.                                                                                                                                                                                                                                                                   |\n\n### P\n\n| Prescribed capital amount | The prescribed capital amount for the fund is calculated as the sum of:Asset Risk Charge;Insurance Risk Charge;Aggregate risk charge for variable annuities;Asset Concentration Risk Charge;Operational Risk Charge;Combined Stress Scenario Adjustment; andadjustments to prescribed capital amount as approved by APRAless:aggregation benefit.The prescribed capital amount for a life company is subject to a minimum of $10 million, and will be automatically applied where the calculated sum of risk charge components is less than this amount. |\n| ------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n### R\n\n| Risk charge components | The risk charge components, as set out in LPS 114, are calculated by determining the fall in the capital base of the regulated institution in seven stress tests. |\n| ---------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n  \n\n## Specific Instructions\n\n### Table 1: Prescribed Capital Amount (Individual Funds)\n\n### Reporting basis\n\nThis table applies to life companies including friendly societies. This table applies to statutory, shareholder, benefit and management funds.\n\nReport all information as at the reporting date.\n\n### Units of measurement\n\nValues in this table must be completed in whole Australian dollars.\n\n| Column 1 | Report the value for each of the items listed below. |\n| -------- | ---------------------------------------------------- |\n\n1\\. Asset Risk Charge\n\n| Item 1   | Report Asset Risk Charge.                                                                   |\n| -------- | ------------------------------------------------------------------------------------------- |\n| Item 1.1 | Report Asset Risk Charge - impact of diversification.Report this item as a positive number. |\n| Item 1.2 | Report Asset Risk Charge - aggregated risk charge component.                                |\n\n2\\. Insurance Risk Charge\n\n| Item 2 | Report Insurance Risk Charge. |\n| ------ | ----------------------------- |\n\n3\\. Aggregate risk charge for variable annuities\n\n| Item 3 | Report aggregate risk charge for variable annuities. |\n| ------ | ---------------------------------------------------- |\n\n4\\. Asset Concentration Risk Charge\n\n| Item 4 | Report Asset Concentration Risk Charge. |\n| ------ | --------------------------------------- |\n\n5\\. Operational Risk Charge\n\n| Item 5   | Report Operational Risk Charge.                                       |\n| -------- | --------------------------------------------------------------------- |\n| Item 5.1 | Report Operational Risk Charge for risk business (ORCR).              |\n| Item 5.2 | Report Operational Risk Charge for investment-linked business (ORCI). |\n| Item 5.3 | Report Operational Risk Charge for other business (ORCO).             |\n\n6\\. Aggregation benefit\n\n| Item 6 | Report aggregation benefit.An aggregation benefit which would result in a decrease to prescribed capital amount should be reported as a positive value. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n7\\. Combined Stress Scenario Adjustment\n\n| Item 7 | Report Combined Stress Scenario Adjustment. |\n| ------ | ------------------------------------------- |\n\n8\\. Adjustments to prescribed capital amount as approved by APRA\n\n| Item 8 | Report the value of any adjustments to the prescribed capital amount as approved by APRA.Report adjustments that would result in an increase to prescribed capital amount as a positive value. |\n| ------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n9\\. Prescribed capital amount\n\n| Item 9 | Prescribed capital amount is a derived item and is calculated as the sum of:item 1;item 2;item 3;item 4;item 5;item 7; anditem 8less:item 6. |\n| ------ | -------------------------------------------------------------------------------------------------------------------------------------------- |\n\n  \n\n### Table 2: Prescribed Capital Amount (Life Company)\n\n### Reporting basis\n\nThis table applies to life companies including friendly societies. Data must be submitted at the level of the life company.\n\nReport all information as at the reporting date.\n\n### Units of measurement\n\nValues in this table must be completed in whole Australian dollars.\n\n| Column 1 | Report the value for each of the items listed below. |\n| -------- | ---------------------------------------------------- |\n\n1\\. Asset Risk Charge\n\n| Item 1 | Report Asset Risk Charge. |\n| ------ | ------------------------- |\n\n2\\. Insurance Risk Charge\n\n| Item 2 | Report Insurance Risk Charge. |\n| ------ | ----------------------------- |\n\n3\\. Aggregate risk charge for variable annuities\n\n| Item 3 | Report aggregate risk charge for variable annuities. |\n| ------ | ---------------------------------------------------- |\n\n4\\. Asset Concentration Risk Charge\n\n| Item 4 | Report Asset Concentration Risk Charge. |\n| ------ | --------------------------------------- |\n\n5\\. Operational Risk Charge\n\n| Item 5 | Report Operational Risk Charge. |\n| ------ | ------------------------------- |\n\n6\\. Aggregation benefit\n\n| Item 6 | Report aggregation benefit.An aggregation benefit which would result in a decrease to prescribed capital amount should be reported as a positive value. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n7\\. Combined Stress Scenario Adjustment\n\n| Item 7 | Report Combined Stress Scenario Adjustment. |\n| ------ | ------------------------------------------- |\n\n8\\. Adjustments to prescribed capital amount as approved by APRA\n\n| Item 8 | Report the value of any adjustments to the prescribed capital amount as approved by APRA.Report adjustments that would result in an increase to prescribed capital amount as a positive value. |\n| ------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n9\\. Prescribed capital amount\n\n| Item 9 | Prescribed capital amount is a derived item and is calculated as the sum of:item 1;item 2;item 3;item 4;item 5;item 7; anditem 8less:item 6.This is subject to the minimum value of $10 million for a life company. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |","sortOrder":17},{"sectionNumber":"Reporting basis","sectionType":"division","heading":"Reporting basis","content":"### Reporting basis\n\nThis table applies to life companies including friendly societies. This table applies to statutory, shareholder, benefit and management funds.\n\nReport all information as at the reporting date.","sortOrder":18},{"sectionNumber":"Units of measurement","sectionType":"division","heading":"Units of measurement","content":"### Units of measurement\n\nValues in this table must be completed in whole Australian dollars.\n\n| Column 1 | Report the value for each of the items listed below. |\n| -------- | ---------------------------------------------------- |\n\n1\\. Asset Risk Charge\n\n| Item 1   | Report Asset Risk Charge.                                                                   |\n| -------- | ------------------------------------------------------------------------------------------- |\n| Item 1.1 | Report Asset Risk Charge - impact of diversification.Report this item as a positive number. |\n| Item 1.2 | Report Asset Risk Charge - aggregated risk charge component.                                |\n\n2\\. Insurance Risk Charge\n\n| Item 2 | Report Insurance Risk Charge. |\n| ------ | ----------------------------- |\n\n3\\. Aggregate risk charge for variable annuities\n\n| Item 3 | Report aggregate risk charge for variable annuities. |\n| ------ | ---------------------------------------------------- |\n\n4\\. Asset Concentration Risk Charge\n\n| Item 4 | Report Asset Concentration Risk Charge. |\n| ------ | --------------------------------------- |\n\n5\\. Operational Risk Charge\n\n| Item 5   | Report Operational Risk Charge.                                       |\n| -------- | --------------------------------------------------------------------- |\n| Item 5.1 | Report Operational Risk Charge for risk business (ORCR).              |\n| Item 5.2 | Report Operational Risk Charge for investment-linked business (ORCI). |\n| Item 5.3 | Report Operational Risk Charge for other business (ORCO).             |\n\n6\\. Aggregation benefit\n\n| Item 6 | Report aggregation benefit.An aggregation benefit which would result in a decrease to prescribed capital amount should be reported as a positive value. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n7\\. Combined Stress Scenario Adjustment\n\n| Item 7 | Report Combined Stress Scenario Adjustment. |\n| ------ | ------------------------------------------- |\n\n8\\. Adjustments to prescribed capital amount as approved by APRA\n\n| Item 8 | Report the value of any adjustments to the prescribed capital amount as approved by APRA.Report adjustments that would result in an increase to prescribed capital amount as a positive value. |\n| ------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n9\\. Prescribed capital amount\n\n| Item 9 | Prescribed capital amount is a derived item and is calculated as the sum of:item 1;item 2;item 3;item 4;item 5;item 7; anditem 8less:item 6. |\n| ------ | -------------------------------------------------------------------------------------------------------------------------------------------- |","sortOrder":19},{"sectionNumber":"Table 2: Prescribed Capital Amount (Life","sectionType":"division","heading":"Table 2: Prescribed Capital Amount (Life Company)","content":"# Reporting Standard LRS 110.0\n\n# Prescribed Capital Amount\n\n## General instructions\n\n### Reporting tables\n\nTables described in this Reporting Standard list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.\n\n### Definitions\n\nTerms highlighted in bold italics indicate that the definition is provided in these instructions.\n\n### A\n\n| Adjustments to prescribed capital amount as approved by APRA | These are adjustments made to a fund’s prescribed capital amount if APRA is of the view that the Standard Method for calculating the prescribed capital amount does not produce an appropriate outcome in respect of a fund, or if a life company has used inappropriate judgement or estimation in calculating the prescribed capital amount for that fund.Approved adjustments are to be reported separately in Table 1 of Reporting Standard LRS 111.0 Adjustments and Exclusions highlighting the description of the adjustment, transitional status and amount of adjustment applied. |\n| ------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Aggregate risk charge for variable annuities                 | This amount is the aggregate risk charge for variable annuity business that relates to asset and insurance risks, after allowance for diversification.This must be determined in accordance with the prescribed approach set out in LPS 110.                                                                                                                                                                                                                                                                                                                                               |\n| Aggregation benefit                                          | The aggregation benefit relates to the recognition of diversification benefits between asset and insurance risks for life business other than variable annuities.This must be calculated in accordance with the prescribed formula in LPS 110.                                                                                                                                                                                                                                                                                                                                             |\n| Asset Concentration Risk Charge                              | The Asset Concentration Risk Charge is the minimum amount of capital required to be held against asset concentration risks. The Asset Concentration Risk Charge relates to the risk resulting from investment concentrations in individual assets or large exposures to individual counterparties or groups of related counterparties resulting in adverse movements in the fund’s capital base.This must be determined in accordance with Prudential Standard LPS 117 Capital Adequacy: Asset Concentration Risk Charge.                                                                  |\n| Asset Risk Charge                                            | The Asset Risk Charge is the minimum amount of capital required to be held against asset risks. The Asset Risk Charge relates to the risk of adverse movements in the value of the fund’s capital base due to credit or market risks.This must be determined in accordance with Prudential Standard LPS 114 Capital Adequacy: Asset Risk Charge (LPS 114).                                                                                                                                                                                                                                 |\n| Asset Risk Charge - aggregated risk charge component         | A life company must calculate, for each of its funds, the risk charge components defined in LPS 114 by considering the impact on the capital base of the fund of a range of stresses. These risk charge components are then aggregated using the formula set out in LPS 114. The result of applying the formula is defined as the Asset Risk Charge - aggregated risk charge component.                                                                                                                                                                                                    |\n| Asset Risk Charge - impact of diversification                | The Asset Risk Charge - impact of diversification relates to the recognition of diversification benefits between the asset risk charge components as set out in LPS 114.This must be calculated as the sum of the risk charge components less the Asset Risk Charge - aggregated risk charge component.                                                                                                                                                                                                                                                                                    |\n\n### C\n\n| Combined Stress Scenario Adjustment | This Combined Stress Scenario tests whether the tax benefits recognised in determining the Insurance Risk Charge and the Asset Risk Charge can be offset against deferred tax liabilities. It also tests whether any future management actions allowed for in the calculation of the Insurance Risk Charge and the Asset Risk Charge would be achievable. This item also recognises any second order interactions between the asset and insurance risk stresses.This adjustment must be determined in accordance with LPS 110. |\n| ----------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n### I\n\n| Insurance Risk Charge | The Insurance Risk Charge is the minimum amount of capital required to be held against insurance risks. The Insurance Risk Charge relates to the risk of adverse impacts due to movements in future mortality, morbidity, longevity, servicing expenses and lapses.This must be determined in accordance with Prudential Standard LPS 115 Capital Adequacy: Insurance Risk Charge. |\n| --------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n### L\n\n| Life company fund | This means the type of life company fund. Possible types are:statutory fund;shareholder fund;benefit fund; andmanagement fund. |\n| ----------------- | ------------------------------------------------------------------------------------------------------------------------------ |\n\n### O\n\n| Operational Risk Charge                                       | The Operational Risk Charge is the minimum amount of capital required to be held against operational risks. The Operational Risk Charge relates to the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events.This must be determined in accordance with Prudential Standard LPS 118 Capital Adequacy: Operational Risk Charge (LPS 118). |\n| ------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Operational Risk Charge for investment-linked business (ORCI) | This is the Operational Risk Charge relating to the fund's investment-linked business.The ORCI must be calculated in accordance with LPS 118.                                                                                                                                                                                                                                                      |\n| Operational Risk Charge for other business (ORCO)             | This is the Operational Risk Charge relating to the fund's businesses other than risk and investment-linked business.The ORCO must be calculated in accordance with LPS 118.                                                                                                                                                                                                                       |\n| Operational Risk Charge for risk business (ORCR)              | This is the Operational Risk Charge relating to the fund's risk business.The ORCR must be calculated in accordance with LPS 118.                                                                                                                                                                                                                                                                   |\n\n### P\n\n| Prescribed capital amount | The prescribed capital amount for the fund is calculated as the sum of:Asset Risk Charge;Insurance Risk Charge;Aggregate risk charge for variable annuities;Asset Concentration Risk Charge;Operational Risk Charge;Combined Stress Scenario Adjustment; andadjustments to prescribed capital amount as approved by APRAless:aggregation benefit.The prescribed capital amount for a life company is subject to a minimum of $10 million, and will be automatically applied where the calculated sum of risk charge components is less than this amount. |\n| ------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n### R\n\n| Risk charge components | The risk charge components, as set out in LPS 114, are calculated by determining the fall in the capital base of the regulated institution in seven stress tests. |\n| ---------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n  \n\n## Specific Instructions\n\n### Table 1: Prescribed Capital Amount (Individual Funds)\n\n### Reporting basis\n\nThis table applies to life companies including friendly societies. This table applies to statutory, shareholder, benefit and management funds.\n\nReport all information as at the reporting date.\n\n### Units of measurement\n\nValues in this table must be completed in whole Australian dollars.\n\n| Column 1 | Report the value for each of the items listed below. |\n| -------- | ---------------------------------------------------- |\n\n1\\. Asset Risk Charge\n\n| Item 1   | Report Asset Risk Charge.                                                                   |\n| -------- | ------------------------------------------------------------------------------------------- |\n| Item 1.1 | Report Asset Risk Charge - impact of diversification.Report this item as a positive number. |\n| Item 1.2 | Report Asset Risk Charge - aggregated risk charge component.                                |\n\n2\\. Insurance Risk Charge\n\n| Item 2 | Report Insurance Risk Charge. |\n| ------ | ----------------------------- |\n\n3\\. Aggregate risk charge for variable annuities\n\n| Item 3 | Report aggregate risk charge for variable annuities. |\n| ------ | ---------------------------------------------------- |\n\n4\\. Asset Concentration Risk Charge\n\n| Item 4 | Report Asset Concentration Risk Charge. |\n| ------ | --------------------------------------- |\n\n5\\. Operational Risk Charge\n\n| Item 5   | Report Operational Risk Charge.                                       |\n| -------- | --------------------------------------------------------------------- |\n| Item 5.1 | Report Operational Risk Charge for risk business (ORCR).              |\n| Item 5.2 | Report Operational Risk Charge for investment-linked business (ORCI). |\n| Item 5.3 | Report Operational Risk Charge for other business (ORCO).             |\n\n6\\. Aggregation benefit\n\n| Item 6 | Report aggregation benefit.An aggregation benefit which would result in a decrease to prescribed capital amount should be reported as a positive value. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n7\\. Combined Stress Scenario Adjustment\n\n| Item 7 | Report Combined Stress Scenario Adjustment. |\n| ------ | ------------------------------------------- |\n\n8\\. Adjustments to prescribed capital amount as approved by APRA\n\n| Item 8 | Report the value of any adjustments to the prescribed capital amount as approved by APRA.Report adjustments that would result in an increase to prescribed capital amount as a positive value. |\n| ------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n9\\. Prescribed capital amount\n\n| Item 9 | Prescribed capital amount is a derived item and is calculated as the sum of:item 1;item 2;item 3;item 4;item 5;item 7; anditem 8less:item 6. |\n| ------ | -------------------------------------------------------------------------------------------------------------------------------------------- |\n\n  \n\n### Table 2: Prescribed Capital Amount (Life Company)\n\n### Reporting basis\n\nThis table applies to life companies including friendly societies. Data must be submitted at the level of the life company.\n\nReport all information as at the reporting date.\n\n### Units of measurement\n\nValues in this table must be completed in whole Australian dollars.\n\n| Column 1 | Report the value for each of the items listed below. |\n| -------- | ---------------------------------------------------- |\n\n1\\. Asset Risk Charge\n\n| Item 1 | Report Asset Risk Charge. |\n| ------ | ------------------------- |\n\n2\\. Insurance Risk Charge\n\n| Item 2 | Report Insurance Risk Charge. |\n| ------ | ----------------------------- |\n\n3\\. Aggregate risk charge for variable annuities\n\n| Item 3 | Report aggregate risk charge for variable annuities. |\n| ------ | ---------------------------------------------------- |\n\n4\\. Asset Concentration Risk Charge\n\n| Item 4 | Report Asset Concentration Risk Charge. |\n| ------ | --------------------------------------- |\n\n5\\. Operational Risk Charge\n\n| Item 5 | Report Operational Risk Charge. |\n| ------ | ------------------------------- |\n\n6\\. Aggregation benefit\n\n| Item 6 | Report aggregation benefit.An aggregation benefit which would result in a decrease to prescribed capital amount should be reported as a positive value. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n7\\. Combined Stress Scenario Adjustment\n\n| Item 7 | Report Combined Stress Scenario Adjustment. |\n| ------ | ------------------------------------------- |\n\n8\\. Adjustments to prescribed capital amount as approved by APRA\n\n| Item 8 | Report the value of any adjustments to the prescribed capital amount as approved by APRA.Report adjustments that would result in an increase to prescribed capital amount as a positive value. |\n| ------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n9\\. Prescribed capital amount\n\n| Item 9 | Prescribed capital amount is a derived item and is calculated as the sum of:item 1;item 2;item 3;item 4;item 5;item 7; anditem 8less:item 6.This is subject to the minimum value of $10 million for a life company. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |","sortOrder":20}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"flash_summary":{"complexity_score":4,"scope_assessment":{"changed":false,"description":"This instrument sets out mechanics for reporting the components of a life company’s prescribed capital amount and consolidates the reporting format, frequency and control requirements. It does not materially broaden the target population (still life insurance companies and friendly societies) or extend APRA’s supervisory purpose; rather it formalises reporting mechanics (timing, digital submission, audit/assurance requirements, the $10 million floor) and adds explicit quality control and authorisation procedures. The transitional provision preserves prior obligations for periods under the old standard. Any apparent change is administrative and procedural (clarifying formats, deadlines, audit requirements and APRA discretion) rather than an expansion of substantive scope beyond the original prudential supervision objective (paras 2–3, 7, 11, 14–16, 17)."},"complexity_factors":["Multiple cross-references to other prudential standards (LPS 110, LPS 114, LPS 115, LPS 117, LPS 118, LPS 310) which define core calculations","Two reporting levels: fund-level table (Table 1) and consolidated life company-level table (Table 2)","Reporting frequency structure: quarterly unaudited + annual audited (5 submissions per financial year) with APRA discretion to vary (paras 7–9, 8)","Audit and assurance obligation requiring at least an annual limited assurance engagement and Auditor review/testing of systems/processes (para 11)","Prescribed minimum floor of $10 million for company-level prescribed capital amount (Table 2 Item 9 / P: Item 9)","APRA discretion to vary requirements or approve adjustments which must be separately reported (paras 8, 16; definitions / A)","Mandatory electronic submission with digital certificate and specified authorised signatories (paras 6, 14–15)","Transitional reporting rules referencing an earlier (revoked) reporting standard (para 17)","Repeated and duplicated text in the instrument (administrative noise) which increases reading effort but not substantive legal complexity"],"plain_english_summary":"**What this instrument does (mechanically)**\n\n- Requires every life insurance company (including friendly societies) registered under the Life Insurance Act 1995 to submit data to APRA about their \"prescribed capital amount\" for each reporting period (para 3, 4).  \n- Reporting frequency: quarterly on an unaudited basis and annually on an audited basis — meaning five submissions across a full financial year (para 7, Note 1, Note 2).  \n- Submission method: electronic via APRA’s website or another APRA-notified method (para 6).  \n- Deadlines: quarterly data within 20 business days after period end; annual audited data within 3 months after period end (para 9). APRA can grant extensions in writing (para 10).  \n- Content: fund-level and company-level breakdowns of the components that make up the prescribed capital amount (asset risk charge, insurance risk charge, operational risk charge, asset concentration charge, aggregation benefit, combined stress scenario adjustment, APRA-approved adjustments, and the derived prescribed capital amount) (General instructions; Tables 1 & 2).  \n- Minimum floor: a life company’s prescribed capital amount is subject to a $10 million minimum (P: Item 9; Table 2 Item 9).  \n- Quality controls and audit: reported data must come from systems and controls reviewed and tested by the company’s Auditor, with at least a limited assurance engagement on an annual basis (para 11). Actuarial valuations must follow prudential standards; reasonable estimates allowed for unaudited quarterly returns (para 13).  \n- Authorisation & signature: electronic submissions must be digitally signed with an APRA‑acceptable digital certificate and must be submitted by an officer authorised by either the Principal Executive Officer or the Chief Financial Officer (paras 14–15).  \n- APRA powers: APRA can (i) change the reporting frequency for a particular company, (ii) vary reporting requirements for an individual company by written notice, and (iii) approve adjustments to a fund’s prescribed capital amount that must then be separately reported (paras 8, 16; definitions / A).  \n- Transitional rule: where prior reporting obligations under the old standard fall due after revocation, companies must report for those transitional periods under the old standard (para 17).\n\n**Who it affects**\n\n- All life insurance companies and friendly societies registered under the Life Insurance Act 1995 (para 3).  \n- Internal roles affected: boards, senior management, the Principal Executive Officer and Chief Financial Officer (who must authorise submissions), internal finance and actuarial teams preparing the inputs, and external Auditors who must test systems and provide limited assurance (paras 11–15; 18(b)).\n\n**Why it matters (purpose and use)**\n\n- APRA uses the reported information for prudential supervision and to assess compliance with capital adequacy standards (para 2).  \n- The data operationalises multiple prudential standards (notably LPS 110, LPS 114, LPS 115, LPS 117, LPS 118 and LPS 310) by requiring the risk-charge components those standards prescribe to be reported in a fixed template (General instructions; definitions).  \n\n**Practical effects, costs and incentives (analytical lens)**\n\n- Who pays: life companies bear the direct compliance costs — building or adapting reporting extracts, maintaining systems, actuarial calculations, and paying for the Auditor’s review and assurance work (paras 11–13).  \n- Who decides: APRA retains discretion to require different frequencies and to vary a company’s reporting requirements in writing (paras 8, 16). APRA also approves any bespoke adjustments to prescribed capital amounts (definitions / A).  \n- Behavioural incentives: the reporting template and requirement to reconcile to prudential standards create incentives to align internal capital calculations and governance with APRA’s prescribed methodologies. Companies may allocate more resources to data controls and actuarial capability to avoid APRA queries or adjustments.  \n- Trade-offs and opportunity costs: frequent quarterly reporting (unaudited) increases ongoing compliance overhead for operational reporting systems; annual audited reporting requires auditor time and cost. Smaller life companies may be disproportionately affected by fixed costs (note the $10 million floor may make the minimum capital metric bind for small entities) (Table 2 Item 9; P: Item 9).  \n- Interaction with other rules: many components must be calculated in accordance with other LPS instruments (LPS 110/114/115/117/118 and LPS 310), so changes to those prudential standards will affect reporting mechanics and possibly impose additional calculation complexity (General instructions; para 18(a)).  \n- Concentrated benefits and risks: APRA gains granular surveillance capability (concentrated benefit to the regulator); costs are diffuse across regulated firms. APRA’s discretion (to vary or demand different frequencies or approve adjustments) concentrates decision power in the regulator and creates a compliance risk where firms must correctly document judgments to withstand APRA scrutiny (paras 8, 16; definitions / A).  \n- Implementation risks: the standard cross‑references multiple prudential standards and auditing rules. Firms must harmonise data flows across actuarial, investment, accounting and audit processes; errors or weak controls risk restatements or APRA-initiated adjustments (paras 11–13).\n\n**Key cross-references and operational points to note**\n\n- This Reporting Standard must be read with LRS 001 (reporting requirements) and Prudential Standard LPS 110 Capital Adequacy (para 0 / Objective).  \n- Calculation methodologies for specific components are in separate prudential standards: LPS 114 (Asset Risk Charge), LPS 115 (Insurance Risk Charge), LPS 117 (Asset Concentration Risk Charge), LPS 118 (Operational Risk Charge), and LPS 110 (aggregation and combined stress scenario) (General instructions / component definitions).  \n- Audit linkage: annual audited returns must be submitted with the annual auditor’s report under LPS 310 (para 7, Note 2).  \n\n(References are to paragraph numbers and named sections within the Reporting Standard.)"},"kimi_summary":{"_metrics":{"provider":"moonshot","completionTokens":3090},"content_quality":"ok","complexity_score":6,"scope_assessment":{"changed":false,"description":"This instrument is a direct replacement of a previous reporting standard (No. 77 of 2016) and continues the established prudential framework. It remains tightly focused on its original purpose: collecting granular capital adequacy data from life insurers for regulatory supervision. There is no evidence of scope creep; the document does not expand beyond data collection to prescribe new substantive capital requirements or alter the underlying prudential framework."},"complexity_factors":["Heavy reliance on external cross-references: The standard is incomprehensible without reference to multiple external Prudential Standards (LPS 001, 110, 114, 115, 117, 118, 310) and the Life Insurance Act 1995, which define key terms and prescribe calculation methodologies.","Technical financial and actuarial terminology: Uses specialized concepts such as 'diversification benefits,' 'stress tests,' 'deferred tax liabilities,' 'variable annuities,' and 'risk charge components' without explanatory context within the document.","Dual-level reporting structure: Requires separate but related data submissions at the individual fund level (Table 1) and the consolidated life company level (Table 2), with slightly different item requirements for each.","Derived mathematical calculations: The final 'prescribed capital amount' is not a raw input but a calculated figure based on a formula summing seven distinct risk charges and subtracting an 'aggregation benefit,' subject to a statutory minimum overlay.","Discretionary regulatory powers: Contains multiple conditional provisions allowing APRA to vary reporting periods, grant extensions, or approve adjustments, creating nested exceptions to the standard rules."],"plain_english_summary":"Life insurers (including friendly societies) must regularly calculate and report to APRA their prescribed capital amount — the minimum financial buffer required to remain solvent and protect policyholders. Reports are made quarterly (estimates) and annually (audited), must meet quality and authorization standards, and include a $10 million minimum floor. The rules let APRA monitor resilience to shocks and can be flexibly adjusted for special cases."}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-112-of-2023","history":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-112-of-2023/history","analysis":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-112-of-2023/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-112-of-2023/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-112-of-2023/important-cases","documents":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-112-of-2023/documents"}}