{"id":"F2023L00604","name":"Financial Sector (Collection of Data) (reporting standard) determination No. 120 of 2023","slug":"financial-sector-collection-of-data-reporting-standard-determination-no-120-of-2023","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":104275,"registerId":"commonwealth-F2023L00604-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Reporting Standard LRS 200.0","sectionType":"part","heading":"Reporting Standard LRS 200.0","content":"![Commonwealth Coat of Arms of Australia](image.002.png)\n\n# Reporting Standard LRS 200.0\n\n## Capital Adequacy Supplementary Information\n\n### Objective of this Reporting Standard\n\nThis Reporting Standard sets out the requirements for the provision of information to APRA in relation to the supplementary information used to calculate a life company’s capital adequacy.\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.\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). For friendly societies, this Reporting Standard only applies to approved benefit funds, which write defined benefit risk products (i.e. APRA product group F4). 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\n```html\n

Table

Description

Type of Entity and Reporting Period

Life insurers

Friendly societies (only benefit funds which write APRA product group F4)

Annual

Quarterly

Annual

1

Unstressed RFBEL

  • Non-participating benefits without entitlement to discretionary additions and friendly society benefits
  • In-force business
  • As at reporting date

Y

Y

2

Unstressed RFBEL

  • Non-participating benefits without entitlement to discretionary additions and friendly society benefits
  • In-force business
  • As at 12 months after reporting date (discounted back to reporting date)

Y

Y

3

Unstressed RFBEL

  • Non-participating benefits without entitlement to discretionary additions and friendly society benefits
  • New business
  • As at reporting date and as at 12 months after reporting date (discounted back to reporting date)

Y

Y

4

Unstressed RFBEL

  • Non-participating benefits without entitlement to discretionary additions
  • All business
  • As at reporting date and as at 12 months after reporting date (discounted back to reporting date)

Y

5

Stressed RFBEL

  • All benefits
  • All business
  • As at reporting date and as at 12 months after reporting date (discounted back to reporting date)

Y

Y

Y

6

Components of termination value

  • Non-participating benefits without entitlement to discretionary additions and friendly society benefits
  • All business
  • As at reporting date

Y

Y

Y

7

Unstressed RFBEL

  • Non-participating benefits with entitlement to discretionary additions and participating benefits
  • All business
  • As at reporting date

Y

8

Unstressed other APL components

  • Non-participating benefits with entitlement to discretionary additions and participating benefits
  • All business
  • As at reporting date

Y

9

Termination values

  • All benefits
  • All business
  • As at reporting date

Y

Y

Y

10

Impact of stress margin

  • All benefits
  • All business
  • As at reporting date

Y

Y

Y

11

Variable annuity capital charge calculation

Y

Y

12

Actual annual loss ratio components

  • All benefits
  • All business

Y

Y

13

Expected annual loss ratio components

  • All benefits
  • In-force business

Y

Y

14

Actual quarterly loss ratio components

  • All benefits
  • All business

Y

\n```\n\nMethod of submission\n\n 6. The information required by this Reporting Standard must be given to APRA:\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) for life insurers: in respect of each quarter based on the financial year of the life insurer on an unaudited basis; and\n\n(b) for life companies including friendly societies: 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 for a life insurer. For a friendly society, the information will be submitted once 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) for life insurers: 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) for life companies including friendly societies: 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\n 10. 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 Note: 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\n### Transition\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\n 19. 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":"Capital Adequacy Supplementary Informati","sectionType":"part","heading":"Capital Adequacy Supplementary Information","content":"![Commonwealth Coat of Arms of Australia](image.002.png)\n\n# Reporting Standard LRS 200.0\n\n## Capital Adequacy Supplementary Information\n\n### Objective of this Reporting Standard\n\nThis Reporting Standard sets out the requirements for the provision of information to APRA in relation to the supplementary information used to calculate a life company’s capital adequacy.\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.\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). For friendly societies, this Reporting Standard only applies to approved benefit funds, which write defined benefit risk products (i.e. APRA product group F4). 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\n```html\n

Table

Description

Type of Entity and Reporting Period

Life insurers

Friendly societies (only benefit funds which write APRA product group F4)

Annual

Quarterly

Annual

1

Unstressed RFBEL

  • Non-participating benefits without entitlement to discretionary additions and friendly society benefits
  • In-force business
  • As at reporting date

Y

Y

2

Unstressed RFBEL

  • Non-participating benefits without entitlement to discretionary additions and friendly society benefits
  • In-force business
  • As at 12 months after reporting date (discounted back to reporting date)

Y

Y

3

Unstressed RFBEL

  • Non-participating benefits without entitlement to discretionary additions and friendly society benefits
  • New business
  • As at reporting date and as at 12 months after reporting date (discounted back to reporting date)

Y

Y

4

Unstressed RFBEL

  • Non-participating benefits without entitlement to discretionary additions
  • All business
  • As at reporting date and as at 12 months after reporting date (discounted back to reporting date)

Y

5

Stressed RFBEL

  • All benefits
  • All business
  • As at reporting date and as at 12 months after reporting date (discounted back to reporting date)

Y

Y

Y

6

Components of termination value

  • Non-participating benefits without entitlement to discretionary additions and friendly society benefits
  • All business
  • As at reporting date

Y

Y

Y

7

Unstressed RFBEL

  • Non-participating benefits with entitlement to discretionary additions and participating benefits
  • All business
  • As at reporting date

Y

8

Unstressed other APL components

  • Non-participating benefits with entitlement to discretionary additions and participating benefits
  • All business
  • As at reporting date

Y

9

Termination values

  • All benefits
  • All business
  • As at reporting date

Y

Y

Y

10

Impact of stress margin

  • All benefits
  • All business
  • As at reporting date

Y

Y

Y

11

Variable annuity capital charge calculation

Y

Y

12

Actual annual loss ratio components

  • All benefits
  • All business

Y

Y

13

Expected annual loss ratio components

  • All benefits
  • In-force business

Y

Y

14

Actual quarterly loss ratio components

  • All benefits
  • All business

Y

\n```\n\nMethod of submission\n\n 6. The information required by this Reporting Standard must be given to APRA:\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) for life insurers: in respect of each quarter based on the financial year of the life insurer on an unaudited basis; and\n\n(b) for life companies including friendly societies: 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 for a life insurer. For a friendly society, the information will be submitted once 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) for life insurers: 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) for life companies including friendly societies: 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\n 10. 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 Note: 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\n### Transition\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\n 19. 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":"division","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 in relation to the supplementary information used to calculate a life company’s capital adequacy.\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.\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). For friendly societies, this Reporting Standard only applies to approved benefit funds, which write defined benefit risk products (i.e. APRA product group F4). 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\n```html\n

Table

Description

Type of Entity and Reporting Period

Life insurers

Friendly societies (only benefit funds which write APRA product group F4)

Annual

Quarterly

Annual

1

Unstressed RFBEL

  • Non-participating benefits without entitlement to discretionary additions and friendly society benefits
  • In-force business
  • As at reporting date

Y

Y

2

Unstressed RFBEL

  • Non-participating benefits without entitlement to discretionary additions and friendly society benefits
  • In-force business
  • As at 12 months after reporting date (discounted back to reporting date)

Y

Y

3

Unstressed RFBEL

  • Non-participating benefits without entitlement to discretionary additions and friendly society benefits
  • New business
  • As at reporting date and as at 12 months after reporting date (discounted back to reporting date)

Y

Y

4

Unstressed RFBEL

  • Non-participating benefits without entitlement to discretionary additions
  • All business
  • As at reporting date and as at 12 months after reporting date (discounted back to reporting date)

Y

5

Stressed RFBEL

  • All benefits
  • All business
  • As at reporting date and as at 12 months after reporting date (discounted back to reporting date)

Y

Y

Y

6

Components of termination value

  • Non-participating benefits without entitlement to discretionary additions and friendly society benefits
  • All business
  • As at reporting date

Y

Y

Y

7

Unstressed RFBEL

  • Non-participating benefits with entitlement to discretionary additions and participating benefits
  • All business
  • As at reporting date

Y

8

Unstressed other APL components

  • Non-participating benefits with entitlement to discretionary additions and participating benefits
  • All business
  • As at reporting date

Y

9

Termination values

  • All benefits
  • All business
  • As at reporting date

Y

Y

Y

10

Impact of stress margin

  • All benefits
  • All business
  • As at reporting date

Y

Y

Y

11

Variable annuity capital charge calculation

Y

Y

12

Actual annual loss ratio components

  • All benefits
  • All business

Y

Y

13

Expected annual loss ratio components

  • All benefits
  • In-force business

Y

Y

14

Actual quarterly loss ratio components

  • All benefits
  • All business

Y

\n```\n\nMethod of submission\n\n 6. The information required by this Reporting Standard must be given to APRA:\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) for life insurers: in respect of each quarter based on the financial year of the life insurer on an unaudited basis; and\n\n(b) for life companies including friendly societies: 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 for a life insurer. For a friendly society, the information will be submitted once 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) for life insurers: 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) for life companies including friendly societies: 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\n 10. 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 Note: 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.","sortOrder":3},{"sectionNumber":"Transition","sectionType":"division","heading":"Transition","content":"### Transition\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\n 19. 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":4},{"sectionNumber":"General instructions","sectionType":"part","heading":"General instructions","content":"## General instructions\n\nReporting 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\nAny specific combination of values in the table must not appear on more than one row in that table when reported.\n\nDefinitions\n\nTerms highlighted in bold italics indicate that the definition is provided in these instructions.\n\nA\n\n| Actual gross claims incurred | This is actual claims incurred over the reporting period, gross of reinsurance. The basis of this item must reflect the basis used for the RFBEL calculation.Claims incurred excludes any impact from strengthening / weakening of assumptions. |\n| ---------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Actual gross initial commission paid | This is actual initial commissions paid over the reporting period, gross of reinsurance. Commissions include rebates. |\n| Actual gross premium accrued | This is actual premiums accrued over the reporting period, gross of reinsurance. The starting basis of this item must reflect the basis used for the RFBEL calculation, and apply adjustments to this item (and other related items) to meet the following definition.Premium is defined as gross of commissions, before profit share rebates, and inclusive of stamp duty, policy fees, loadings and discounts. This definition is consistent with the definition of premium in Reporting Standard LRS 750.0 Claims and Disputes (LRS 750.0).Accrued premium is defined as:, where:andLife companies may use approximate methods and may take into account materiality (i.e. whether it would result in a materially different outcome from applying the outlined definition) to report this item if accrued premium which meets the outlined definition is not readily available. |\n| Actual gross renewal commission incurred | This is actual renewal commissions incurred over the reporting period, gross of reinsurance. Commissions include rebates. The basis of this item must reflect the basis used for the RFBEL calculation. |\n| Actual maintenance and overhead costs incurred | This is actual maintenance and overhead costs incurred over the reporting period. The basis of this item must reflect the basis used for the RFBEL calculation. |\n| Actual net claims incurred | This is actual claims incurred over the reporting period, net of reinsurance. The basis of this item must reflect the basis used for the RFBEL calculation.Claims incurred excludes any impact from strengthening / weakening of assumptions. |\n| Actual net initial commission paid | This is actual initial commissions paid over the reporting period, net of reinsurance. Commissions include rebates. |\n| Actual net premiums accrued | This is actual premiums accrued over the reporting period, net of reinsurance. The starting basis of this item must reflect the basis used for the RFBEL calculation, and apply adjustments to this item (and other related items) to meet the definitions of premium and accrued premium outlined in actual gross premiums accrued.Life companies may use approximate methods and may take into account materiality (i.e. whether it would result in a materially different outcome from applying the outlined definition) to report this item if accrued premium which meets the outlined definition is not readily available. |\n| Actual net renewal commission incurred | This is actual renewal commissions incurred over the reporting period, net of reinsurance. Commissions include rebates. The basis of this item must reflect the basis used for the RFBEL calculation. |\n| Annuity and investment liability amount | Annuity and investment liability value are to be treated as past premium liabilities and not as future premium liabilities.In respect of annuities (L2 and L18 product groups), these items report the total liability value in respect of future annuity payments and expenses arising from the premiums received prior to the reporting date.In respect of investment products (L15, L16 and L17 product groups), these items report the total liability value in respect of amounts owing to policy owners arising from deposit premiums received prior to the reporting date. |\n| APRA product group | This is APRA product group which is defined in LRS 001 Reporting Requirements. Life companies must report data items by the listed APRA product groups where required. |\n\nC\n\n| Capital requirement excluding hedging(Variable Annuity Capital Charge Calculation Item) | This is the estimate of capital requirement for variable annuities covering the associated insurance and asset risks under the combined scenario, in the absence of any hedging / risk mitigation arrangements as per Prudential Standard LPS 110 Capital Adequacy (LPS 110). |\n| --------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Capital requirement including hedging(Variable Annuity Capital Charge Calculation Item) | This is the estimate of capital requirement for variable annuities covering the associated insurance and asset risks under the combined scenario, allowing for the effect of any hedging / risk mitigation arrangements as per LPS 110. |\n| Claims in Course of Payment (CICP) reserve | This is the total expected claim payments and expenses in respect of claims in course of payment, that are associated with past premiums received prior to the reporting date.This also includes other related liabilities such as reopened claims and closed but not reported liabilities.This is part of past premium liabilities of RFBEL. |\n\nD\n\n| Diversification factor between asset and insurance risks | This is the diversification factor, where readily determined, that has been estimated between asset and insurance risks in calculating the capital requirement (including hedging) for variable annuities. |\n| -------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\nE\n\n| Effectiveness factor | This is the effectiveness factor E used to reflect the level of sophistication of the assumed model of dynamic hedging for the variable annuity capital calculation. |\n| ------------------------------------------------ | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Event pre-diversified | This is the change in risk-free best estimate liabilities (RFBEL) (net of reinsurance) or participating policy liability (net of reinsurance), whichever that is applicable, as a result of applying the event stress prior to any allowance for diversification benefits between the insurance stresses. |\n| Expected gross claims incurred | This is expected claims incurred over the reporting period, gross of reinsurance.This is estimated at the end of the previous reporting period for the purposes of projecting RFBEL at that date.Claims incurred excludes any impact from strengthening / weakening of assumptions. |\n| Expected gross premiums accrued | This is expected premiums accrued over the reporting period, gross of reinsurance.This is estimated at the end of the previous reporting period for the purposes of projecting RFBEL at that date.The starting basis of this item must reflect the basis used for the RFBEL calculation, and apply adjustments to this item (and other related items) to meet the definitions of premium and accrued premium outlined in actual gross premiums accrued.Life companies may use approximate methods and may take into account materiality (i.e. whether it would result in a materially different outcome from applying the outlined definition) to report this item if accrued premium which meets the outlined definition is not readily available. |\n| Expected gross renewal commissions incurred | This is expected renewal commissions incurred over the reporting period, gross of reinsurance. Commissions include rebates.This is estimated at the end of the previous reporting period for the purposes of projecting RFBEL at that date. |\n| Expected maintenance and overhead costs incurred | This is expected maintenance and overhead cost incurred over the reporting period.This is estimated at the end of the previous reporting period for the purposes of projecting RFBEL at that date. |\n| Expected net claims incurred | This is expected claims incurred over the reporting period, net of reinsurance.This is estimated at the end of the previous reporting period for the purposes of projecting RFBEL at that date.Claims incurred excludes any impact from strengthening / weakening of assumptions. |\n| Expected net premiums accrued | This is expected premiums accrued over the reporting period, net of reinsurance.This is estimated at the end of the previous reporting period for the purposes of projecting RFBEL at that date.The starting basis of this item must reflect the basis used for the RFBEL calculation, and apply adjustments to this item (and other related items) to meet the definitions of premium and accrued premium outlined in actual gross premiums accrued.Life companies may use approximate methods and may take into account materiality (i.e. whether it would result in a materially different outcome from applying the outlined definition) to report this item if accrued premium which meets the outlined definition is not readily available. |\n| Expected net renewal commissions incurred | This is expected renewal commissions incurred over the reporting period, net of reinsurance. Commissions include rebates.This is estimated at the end of the previous reporting period for the purposes of projecting RFBEL at that date. |\n\nF\n\n| Future premium liabilities (gross of reinsurance) | This is unstressed RFBEL arising from premiums expected to be received after the reporting date, gross of reinsurance.Future premium liabilities (gross of reinsurance) is calculated as the sum of (all gross of reinsurance):present value of expected incurred claims;present value of expected commissions;present value of expected maintenance and overhead costs; andpresent value of expected other future premium liability componentLess:present value of expected premiums.This is part of RFBEL (gross of reinsurance). |\n| ------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Future premium liabilities (net of reinsurance) | This is unstressed RFBEL arising from premiums expected to be received after the reporting date, net of reinsurance.Future premium liabilities (net of reinsurance) is calculated as the sum of (all net of reinsurance):present value of expected incurred claims;present value of expected commissions;present value of expected other future premium liability component; andpresent value of expected maintenance and overhead costsLess:present value of expected premiums.This is part of RFBEL (net of reinsurance). |\n\nI\n\n| Investment Fluctuation Reserve (IFR) | This is a reserve used for smoothing discretionary additions for non-participating benefits. For the purpose of the capital adequacy standards the investment fluctuation reserve is defined to be the difference between the value of the assets administered for the purpose of a subcategory and the aggregate value of the accounts under the policies belonging to that subcategory. |\n| ---------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Incurred But Not Reported (IBNR) reserve | This is the total expected claim payments and expenses in respect of claims incurred but not reported, that are associated with past premiums received prior to the reporting date.This is part of past premium liabilities of RFBEL. |\n| In-force business(Insurance business) | This is business which was in-force as at the end of the previous reporting period which is still in-force as at the reporting date. |\n| Insurance business | This is the type of insurance business that a life company can have. Life companies must report data items by insurance business where required. Insurance business can either be:in-force business;new business; andall business consisting of in-force business and new business.They can further be broken down into the following:in-force business – Unstressed RFBEL (gross of reinsurance);in-force business – Unstressed RFBEL (net of reinsurance);new business – Unstressed RFBEL (gross of reinsurance);new business – Unstressed RFBEL (net of reinsurance);all business – Unstressed RFBEL (gross of reinsurance);all business – Unstressed RFBEL (net of reinsurance);all business – Stressed RFBEL (gross of reinsurance); andall business – Stressed RFBEL (net of reinsurance). |\n| Insurance benefit | This is the type of insurance benefit that a life policy can include. Life companies must report data items by insurance benefit where required. Insurance benefits can be:non-participating benefits;participating benefits;friendly society benefits; orall benefits consisting of non-participating benefits, participating benefits and friendly society benefits.Non-participating benefits can either be:non-participating benefits without entitlement to discretionary additions; ornon-participating benefits with entitlement to discretionary addition. |\n\nL\n\n| Life company fund | This means the type of life company fund. Possible types are:statutory fund; andbenefit fund. |\n| ------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Longevity pre-diversified | This is the change in RFBEL (net of reinsurance) or participating policy liability (net of reinsurance), whichever that is applicable as a result of applying the longevity stress prior to any allowance for diversification benefits between the insurance stresses. |\n\nM\n\n| Morbidity future pre-diversified | This is the change in RFBEL (net of reinsurance) or participating policy liability (net of reinsurance), whichever that is applicable as a result of applying the morbidity future stress prior to any allowance for diversification benefits between the insurance stresses. |\n| -------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Morbidity random pre-diversified | This is the change in RFBEL (net of reinsurance) or participating policy liability (net of reinsurance), whichever that is applicable as a result of applying the morbidity random stress prior to any allowance for diversification benefits between the insurance stresses. |\n| Mortality future pre-diversified | This is the change in RFBEL (net of reinsurance) or participating policy liability (net of reinsurance), whichever that is applicable as a result of applying the mortality future stress prior to any allowance for diversification benefits between the insurance stresses. |\n| Mortality random pre-diversified | This is the change in RFBEL (net of reinsurance) or participating policy liability (net of reinsurance), whichever that is applicable as a result of applying the mortality random stress prior to any allowance for diversification benefits between the insurance stresses. |\n\nN\n\n| New business(Insurance business) | This is new business commenced during reporting period. New business is defined in LRS 750.0 Claims and Disputes. Life companies that adopt a short term contract boundary for Accounting Standard AASB 17 Insurance Contracts and treat renewals as new business should not follow this approach for this reporting standard. |\n| -------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n\nO\n\n| Other components of termination value | This is the value of any other components that must be included in the termination value, as defined in Prudential Standard LPS 112 Capital Adequacy: Measurement of Capital (LPS 112), of the respective APRA product group, on top of the past premium liabilities and the excess premium refunds.Other components reported should have allowance for surrender values paid in the event of voluntary termination, consistent with the requirement of Prudential Standard LPS 360 Termination Values, Minimum Surrender Values and Paid-up Values. |\n| -------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Other past premium liability component | This is the present value of other past premium liability components of RFBEL that do not fall under the categories of CICP reserve, IBNR reserve, RBNA reserve and URR. |\n\nP\n\n| Past premium liabilities (gross of reinsurance) | This is the value of unstressed RFBEL arising from premiums expected to be received after the reporting date, gross of reinsurance.Past premium liabilities (gross of reinsurance) is calculated as the sum of (all gross of reinsurance):Claims in Course of Payment (CICP) reserve;Incurred But Not Reported (IBNR) reserve;Reported But Not Assessed (RBNA) reserve;Unexpired Risk Reserve (URR); andother past premium liability component.This is part of RFBEL (gross of reinsurance). |\n| ------------------------------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Past premium liabilities net of reinsurance | This is the value of unstressed RFBEL arising from premiums expected to be received after the reporting date, net of reinsurance.Past premium liabilities (net of reinsurance) is calculated as the sum of (all net of reinsurance):Claims in Course of Payment (CICP) reserve;Incurred But Not Reported (IBNR) reserve;Reported But Not Assessed (RBNA) reserve;Unexpired Risk Reserve (URR); andother past premium liability component.This is part of RFBEL (net of reinsurance). |\n| Policy owners’ retained profits (PRP) | This is policy owner’s retained profits (PRP) as defined in the Life Act. |\n| Premium refund in excess of unexpired risk reserve | This is the value of any premium refund payable (in excess of the unexpired risk reserve held) at policy's termination based on the policy document's contractual agreement. The premium refund must be present-valued to the reporting date. |\n| Present value of expected benefit payments | This is the present value of all expected future benefit payments after the reporting date.This is part of future and past premium liabilities of RFBEL. |\n| Present value of expected commissions | This is the present value of all future expected commissions that are associated with premiums expected to be received after the reporting date. Commissions include rebates.This is part of future premium liabilities of RFBEL. |\n| Present value of expected expenses | This is the present value of all future expected expenses after the reporting date.This is part of future and past premium liabilities of RFBEL. |\n| Present value of expected incurred claims | This is the present value of all future expected claim payments that are associated with premiums expected to be received after the reporting date.This is part of future premium liabilities of RFBEL. |\n| Present value of expected other RFBEL components | This is the present value of all other specific components of the future and past premium liabilities that do not fall under the categories of benefit payments, expenses and receipts.This is part of future and past premium liabilities of RFBEL. |\n| Present value of expected other future premium liability component | This is the present value of all other specific components of the future premium liability that do not fall under the categories of claims, commission, expenses and premiums.This is part of future premium liabilities of RFBEL. |\n| Present value of expected maintenance and overhead costs | This is the present value of all future expected maintenance and overheads costs that are associated with premiums expected to be received after the reporting date.This is part of future premium liabilities of RFBEL. |\n| Present value of expected premiums | This is the present value of all future premiums expected to be received after the reporting date.This is part of future premium liabilities of RFBEL. |\n| Present value of expected receipts | This is the present value of all expected future receipts after the reporting date.This is part of future and past premium liabilities of RFBEL. |\n| Present value of risk-free value of future bonuses | This is the present value of all future bonuses after the reporting date.This is part of participating policy liabilities. |\n\nR\n\n| Reported But Not Assessed (RBNA) reserve | This is the total expected claim payments and expenses in respect of claims reported but not assessed, that are associated with past premiums received prior to the reporting date.This is part of past premium liabilities of RFBEL. |\n| ---------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| RFBEL (gross of reinsurance) | This is RFBEL as defined in LPS 112 but determined gross of reinsurance.Where relevant, RFBEL (gross of reinsurance) is calculated as the sum of:future premium liabilities (gross of reinsurance); andpast premium liabilities (gross of reinsurance).Where relevant, RFBEL (gross of reinsurance) is calculated as the sum of (all gross of reinsurance):present value of expected benefit payments;present value of expected expenses; andpresent value of expected other RFBEL componentsLess:present value of expected receipts. |\n| RFBEL (net of reinsurance) | This is RFBEL as defined in LPS 112, determined net of reinsurance.Where relevant, RFBEL net of reinsurance is also calculated as the sum of:future premium liabilities (net of reinsurance); andpast premium liabilities (net of reinsurance).Where relevant, RFBEL (net of reinsurance) is calculated as the sum of (all net of reinsurance):present value of expected benefit payments;present value of expected expenses; andpresent value of expected other RFBEL componentsLess:present value of expected receipts. |\n\nT\n\n| Termination value | This is the total termination value used in calculating adjusted policy liabilities for the purpose of determining capital base. |\n| ----------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Total stress post diversified | This is the impact of the aggregate stresses across the APRA product groups post allowance for diversification benefits between the insurance stresses.Allocation of total stress post diversified to the APRA product groups must be based on a systematic and rational approach reflecting how each APRA product group contributed to the stress. |\n\nU\n\n| Unexpired Risk Reserve (URR) | This is the total expected future claim payments and expenses associated with unexpired proportion of past premiums received prior to the reporting date.This is part of past premium liabilities of RFBEL. |\n| --------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Unstressed net past premium liabilities | This is the present value of total expected claims and expenses (net of reinsurance), arising from all premiums that have been received prior to the reporting date, before the effect of the insurance risk stresses. |\n\nV\n\n| Valuation basis | Within each APRA product group, some valuation data will be collected on up to three bases, indicated as follows:Last Year (LY)/LY: Current position, based on previous year’s valuation basis.LY/This Year (TY): Current position, based on previous year’s valuation basis substituting current year’s investment and economic assumptions.TY/TY: Current position, based on current year’s valuation basis |\n| --------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |","sortOrder":5},{"sectionNumber":"Table 1: Unstressed RFBEL - Non-particip","sectionType":"division","heading":"Table 1: Unstressed RFBEL - Non-participating Benefits Without Entitlement To Discretionary Additions And Friendly Society Benefits — In-force Business — As At The Reporting Date","content":"Specific instructions\n\n### Table 1: Unstressed RFBEL - Non-participating Benefits Without Entitlement To Discretionary Additions And Friendly Society Benefits – In-force Business – As At The Reporting Date\n\n#### Reporting basis\n\nThis section relates to:\n\n life companies including friendly societies (approved benefit funds, which write defined benefit risk products (i.e. APRA product group F4));\n non-participating benefits without entitlement to discretionary additions and friendly society benefits; and\n in-force business.\n\nReport this table for each statutory fund for life insurers and each benefit fund for friendly societies.\n\nReport unstressed values before the effect of insurance risk stresses as at the reporting date.\n\nReport this table on an annual basis only.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\nReport all items (including premium related numbers) as positive numbers unless otherwise stated.\n\n| | Name | Valid values | Description |\n| --- | ------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------------------------------------------------------------------------------- |\n| 1 | Life Company Fund Type | Statutory fundBenefit fund | Report life company fund. |\n| 2 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 3 | APRA Product Group | L1 - ConventionalL2 - Annuity with longevity riskL3_1 - Individual lump sum risk - stepped premiumL6 - Individual disability income insurance - stepped premiumL7_1 - Individual lump sum risk - otherL10 - Individual disability income insurance - otherL11_1 - Group lump sum riskL14 - Group disability income insuranceL15 - Investment linkedL16 - Investment policy with discretionary additionsL17 - Other investment policyL18 - Annuity without longevity riskL19 - OtherF4 - Defined benefit risk | Report APRA product group. |\n| 4 | Insurance Business Type | In-force business - Unstressed RFBEL (gross of reinsurance)In-force business - Unstressed RFBEL (net of reinsurance) | Report insurance business type. |\n| 5 | Valuation Basis | LY/LYLY/TYTY/TY | Report valuation basis. |\n| 6 | Annuity And Investment Liability | Whole dollars | Report annuity and investment liability amount. |\n| 7 | CICP Reserve | Whole dollars | Report CICP reserve amount. |\n| 8 | RBNA Reserve | Whole dollars | Report RBNA reserve amount. |\n| 9 | IBNR Reserve | Whole dollars | Report IBNR reserve amount. |\n| 10 | URR | Whole dollars | Report URR amount. |\n| 11 | Other Past Premium Liability Component | Whole dollars | Report other past premium liability component amount. |\n| 12 | Present Value Of Expected Premiums | Whole dollars | Report present value of expected premiums amount. |\n| 13 | Present Value Of Expected Incurred Claims | Whole dollars | Report present value of expected incurred claims amount. |\n| 14 | Present Value Of Expected Commissions | Whole dollars | Report present value of expected commissions amount. |\n| 15 | Present Value Of Expected Maintenance And Overhead Costs | Whole dollars | Report present value of expected maintenance and overhead costs amount. |\n| 16 | Present Value Of Expected Other Future Premium Liability Component | Whole dollars | Report present value of expected other future premium liability component amount. |\n\n \n\n### Table 2: Unstressed RFBEL - Non-participating Benefits Without Entitlement To Discretionary Additions And Friendly Society Benefits - In-force Business - As At 12 Months After The Reporting Date (Discounted Back To The Reporting Date)\n\nReporting basis\n\nThis section relates to:\n\n life companies including friendly societies (approved benefit funds, which write defined benefit risk products (i.e. APRA product group F4));\n non-participating benefits without entitlement to discretionary additions and friendly society benefits; and\n in-force business.\n\nReport this table for each statutory fund for life insurers and each benefit fund for friendly societies.\n\nReport unstressed values before the effect of insurance risk stresses as at 12 months after the reporting date (discounted back to reporting date).\n\nReport this table on an annual basis only.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\nReport all items (including premium related numbers) as positive numbers unless otherwise stated.\n\n| | Name | Valid values | Description |\n| --- | ------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------------------------------------------------------------------------------- |\n| 1 | Life Company Fund Type | Statutory fundBenefit fund | Report life company fund. |\n| 2 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 3 | APRA Product Group | L1 - ConventionalL2 - Annuity with longevity riskL3_1 - Individual lump sum risk - stepped premiumL6 - Individual disability income insurance - stepped premiumL7_1 - Individual lump sum risk - otherL10 - Individual disability income insurance - otherL11_1 - Group lump sum riskL14 - Group disability income insuranceL15 - Investment linkedL16 - Investment policy with discretionary additionsL17 - Other investment policyL18 - Annuity without longevity riskL19 - OtherF4 - Defined benefit risk | Report APRA product group. |\n| 4 | Insurance Business Type | In-force business - Unstressed RFBEL (gross of reinsurance)In-force business - Unstressed RFBEL (net of reinsurance) | Report insurance business type. |\n| 5 | Annuity and Investment Liability | Whole dollars | Report annuity and investment liability amount. |\n| 6 | CICP Reserve | Whole dollars | Report CICP reserve amount. |\n| 7 | RBNA Reserve | Whole dollars | Report RBNA reserve amount. |\n| 8 | IBNR Reserve | Whole dollars | Report IBNR reserve amount. |\n| 9 | URR | Whole dollars | Report URR amount. |\n| 10 | Other Past Premium Liability Component | Whole dollars | Report other past premium liability component amount. |\n| 11 | Present Value Of Expected Premiums | Whole dollars | Report present value of expected premiums amount. |\n| 12 | Present Value Of Expected Incurred Claims | Whole dollars | Report present value of expected incurred claims amount. |\n| 13 | Present Value Of Expected Commissions | Whole dollars | Report present value of expected commissions amount. |\n| 14 | Present Value Of Expected Maintenance And Overhead Costs | Whole dollars | Report present value of expected maintenance and overhead costs amount. |\n| 15 | Present Value Of Expected Other Future Premium Liability Component | Whole dollars | Report present value of expected other future premium liability component amount. |\n\n \n\n### Table 3: Unstressed RFBEL - Non-participating Benefit Without Entitlement To Discretionary Additions And Friendly Society Benefits - New Business - As At The Reporting Date And 12 Months After The Reporting Date (Discounted Back To Reporting Date)\n\nReporting basis\n\nThis section relates to:\n\n life companies including friendly societies (approved benefit funds, which write defined benefit risk products (i.e. APRA product group F4));\n non-participating benefits without entitlement to discretionary additions and friendly society benefits; and\n new business.\n\nReport this table for each statutory fund for life insurers and each benefit fund for friendly societies.\n\nReport unstressed values before the effect of insurance risk stresses as at the reporting date and 12 months after the reporting date (discounted back to reporting date).\n\nReport this table on an annual basis only.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\nReport all items (including premium related numbers) as positive numbers unless otherwise stated.\n\n| | Name | Valid values | Description |\n| --- | ------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------------------------------------------------------------------------------- |\n| 1 | Life Company Fund Type | Statutory fundBenefit fund | Report life company fund. |\n| 2 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 3 | APRA Product Group | L1 - ConventionalL2 - Annuity with longevity riskL3_1 - Individual lump sum risk - stepped premiumL6 - Individual disability income insurance - stepped premiumL7_1 - Individual lump sum risk - otherL10 - Individual disability income insurance - otherL11_1 - Group lump sum riskL14 - Group disability income insuranceL15 - Investment linkedL16 - Investment policy with discretionary additionsL17 - Other investment policyL18 - Annuity without longevity riskL19 - OtherF4 - Defined benefit risk | Report APRA product group. |\n| 4 | Insurance Business Type | New business - Unstressed RFBEL (gross of reinsurance)New business - Unstressed RFBEL (net of reinsurance) | Report insurance business type. |\n| 5 | Valuation Date | As at reporting dateAs at 12 months after reporting date (discounted back to reporting date) | Report valuation date. |\n| 6 | Annuity And Investment Liability | Whole dollars | Report annuity and investment liability amount. |\n| 7 | CICP Reserve | Whole dollars | Report CICP reserve amount. |\n| 8 | RBNA Reserve | Whole dollars | Report RBNA reserve amount. |\n| 9 | IBNR Reserve | Whole dollars | Report IBNR reserve amount. |\n| 10 | URR | Whole dollars | Report URR amount. |\n| 11 | Other Past Premium Liability Component | Whole dollars | Report other past premium liability component amount. |\n| 12 | Present Value Of Expected Premiums | Whole dollars | Report present value of expected premiums amount. |\n| 13 | Present Value Of Expected Incurred Claims | Whole dollars | Report present value of expected incurred claims amount. |\n| 14 | Present Value Of Expected Commissions | Whole dollars | Report present value of expected commissions amount. |\n| 15 | Present Value Of Expected Maintenance And Overhead Costs | Whole dollars | Report present value of expected maintenance and overhead costs amount. |\n| 16 | Present Value Of Expected Other Future Premium Liability Component | Whole dollars | Report present value of expected other future premium liability component amount. |\n\n \n\n### Table 4: Unstressed RFBEL - Non-participating Benefits Without Entitlement To Discretionary Additions - All Business - As At The Reporting Date And 12 Months After The Reporting Date (Discounted Back To Reporting Date)\n\nReporting basis\n\nThis section relates to:\n\n life insurers only;\n non-participating benefits without entitlement to discretionary additions; and\n all business.\n\nReport this table for each statutory fund.\n\nReport unstressed values before the effect of insurance risk stresses as at the reporting date and 12 months after the reporting date (discounted back to reporting date).\n\nReport this table on a quarterly basis only.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\nReport all items (including premium related numbers) as positive numbers unless otherwise stated.\n\n| | Name | Valid values | Description |\n| --- | ------------------------------------------------------------------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------- |\n| 1 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 2 | APRA Product Group | L1 - ConventionalL2 - Annuity with longevity riskL3_1 - Individual lump sum risk - stepped premiumL6 - Individual disability income insurance - stepped premiumL7_1 - Individual lump sum risk - otherL10 - Individual disability income insurance - otherL11_1 - Group lump sum riskL14 - Group disability income insuranceL15 - Investment linkedL16 - Investment policy with discretionary additionsL17 - Other investment policyL18 - Annuity without longevity riskL19 - Other | Report APRA product group. |\n| 3 | Insurance Business Type | All business - Unstressed RFBEL (gross of reinsurance)All business - Unstressed RFBEL (net of reinsurance) | Report insurance business type. |\n| 4 | Valuation Date | As at reporting dateAs at 12 months after reporting date (discounted back to reporting date) | Report valuation date. |\n| 5 | Annuity And Investment Liability | Whole dollars | Report annuity and investment liability amount. |\n| 6 | CICP Reserve | Whole dollars | Report CICP reserve amount. |\n| 7 | RBNA Reserve | Whole dollars | Report RBNA reserve amount. |\n| 8 | IBNR Reserve | Whole dollars | Report IBNR reserve amount. |\n| 9 | URR | Whole dollars | Report URR amount. |\n| 10 | Other Past Premium Liability Component | Whole dollars | Report other past premium liability component amount. |\n| 11 | Present Value Of Expected Premiums | Whole dollars | Report present value of expected premiums amount. |\n| 12 | Present Value Of Expected Incurred Claims | Whole dollars | Report present value of expected incurred claims amount. |\n| 13 | Present Value Of Expected Commissions | Whole dollars | Report present value of expected commissions amount. |\n| 14 | Present Value Of Expected Maintenance And Overhead Costs | Whole dollars | Report present value of expected maintenance and overhead costs amount. |\n| 15 | Present Value Of Expected Other Future Premium Liability Component | Whole dollars | Report present value of expected other future premium liability component amount. |\n\n \n\n### Table 5: Stressed RFBEL – All Benefits - All Business - As At The Reporting Date And 12 Months After The Reporting Date (Discounted Back To Reporting Date)\n\nReporting basis\n\nThis section relates to:\n\n life companies including friendly societies (approved benefit funds, which write defined benefit risk products (i.e. APRA product group F4));\n all benefits (but report by each of the listed insurance benefit types); and\n all business.\n\nReport this table for each statutory fund for life insurers and each benefit fund for friendly societies. Report stressed values post the effect of insurance risk stresses and management actions as at the reporting date and 12 months after the reporting date (discounted back to reporting date).\n\nReport this table on a quarterly and an annual basis.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\nReport all items (including premium related numbers) as positive numbers unless otherwise stated.\n\n| | Name | Valid values | Description |\n| --- | ------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------------------------------------------------------------------------------- |\n| 1 | Life Company Fund Type | Statutory fundBenefit fund | Report life company fund. |\n| 2 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 3 | Insurance Benefit Type | Non-participating benefitsParticipating benefitsFriendly society benefits | Report insurance benefit type. |\n| 4 | APRA Product Group | L1 - ConventionalL2 - Annuity with longevity riskL3_1 - Individual lump sum risk - stepped premiumL6 - Individual disability income insurance - stepped premiumL7_1 - Individual lump sum risk - otherL10 - Individual disability income insurance - otherL11_1 - Group lump sum riskL14 - Group disability income insuranceL15 - Investment linkedL16 - Investment policy with discretionary additionsL17 - Other investment policyL18 - Annuity without longevity riskL19 - OtherF4 - Defined benefit risk | Report APRA product group. |\n| 5 | Insurance Business Type | All business - Stressed RFBEL (gross of reinsurance)All business - Stressed RFBEL (net of reinsurance) | Report insurance business. |\n| 6 | Valuation Date | As at reporting dateAs at 12 months after reporting date (discounted back to reporting date) | Report valuation date. |\n| 7 | Annuity And Investment Liability | Whole dollars | Report annuity and investment liability amount. |\n| 8 | CICP Reserve | Whole dollars | Report Claims in Course of Payment (CICP) reserve amount. |\n| 9 | RBNA Reserve | Whole dollars | Report Reported But Not Assessed (RBNA) reserve amount. |\n| 10 | IBNR Reserve | Whole dollars | Report Incurred But Not Reported (IBNR) reserve amount. |\n| 11 | URR | Whole dollars | Report Unexpired Risk Reserve (URR) amount. |\n| 12 | Other Past Premium Liability Component | Whole dollars | Report other past premium liability component amount. |\n| 13 | Present Value Of Expected Premiums | Whole dollars | Report present value of expected premiums amount. |\n| 14 | Present Value Of Expected Incurred Claims | Whole dollars | Report present value of expected incurred claims amount. |\n| 15 | Present Value Of Expected Commissions | Whole dollars | Report present value of expected commissions amount. |\n| 16 | Present Value Of Expected Maintenance And Overhead Costs | Whole dollars | Report present value of expected maintenance and overhead costs amount. |\n| 17 | Present Value Of Expected Other Future Premium Liability Component | Whole dollars | Report present value of expected other future premium liability component amount. |\n\n \n\n### Table 6: Components Of Termination Value – Non-participating Benefits Without Entitlement To Discretionary Additions And Friendly Society Benefits – All Business - As At The Reporting Date\n\nReporting basis\n\nThis section relates to:\n\n life companies including friendly societies (approved benefit funds, which write defined benefit risk products (i.e. APRA product group F4));\n non-participating benefits without entitlement to discretionary additions and friendly society benefits; and\n all business.\n\nReport this table for each statutory fund for life insurers and each benefit fund for friendly societies.\n\nReport the components of termination value as at reporting date.\n\nReport this table on a quarterly and an annual basis.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\nReport all items (including premium related numbers) as positive numbers unless otherwise stated.\n\n| | Name | Valid values | Description |\n| --- | -------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ----------------------------------------------------------------- |\n| 1 | Life Company Fund Type | Statutory fundBenefit fund | Report life company fund. |\n| 2 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 3 | APRA Product Group | L1 - ConventionalL2 - Annuity with longevity riskL3_1 - Individual lump sum risk - stepped premiumL6 - Individual disability income insurance - stepped premiumL7_1 - Individual lump sum risk - otherL10 - Individual disability income insurance - otherL11_1 - Group lump sum riskL14 - Group disability income insuranceL15 - Investment linkedL16 - Investment policy with discretionary additionsL17 - Other investment policyL18 - Annuity without longevity riskL19 - OtherF4 - Defined benefit risk | Report APRA product group. |\n| 4 | Unstressed Net Past Premium Liabilities | Whole dollars | Report unstressed net past premium liabilities amount. |\n| 5 | Premium Refund In Excess Of Unexpired Risk Reserve | Whole dollars | Report premium refund in excess of unexpired risk reserve amount. |\n| 6 | Other Components Of Termination Value | Whole dollars | Report other components of termination value amount. |\n| 7 | Termination Value | Whole dollars | Report termination value amount. |\n\n \n\n### Table 7: Unstressed RFBEL - Non-participating Benefits With Entitlement To Discretionary Additions And Participating Benefits - All Business – As At Reporting Date\n\nReporting basis\n\nThis section relates to:\n\n life insurers only;\n non-participating benefits with entitlement to discretionary additions and participating benefits; and\n all business.\n\nReport this table for each statutory fund.\n\nReport unstressed values before the effect of insurance risk stresses as at the reporting date.\n\nReport this table on an annual basis only.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\nReport all items (including premium related numbers) as positive numbers unless otherwise stated.\n\n| | Name | Valid values | Description |\n| --- | -------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 2 | APRA Product Group | L1 - ConventionalL2 - Annuity with longevity riskL3_1 - Individual lump sum risk - stepped premiumL6 - Individual disability income insurance - stepped premiumL7_1 - Individual lump sum risk - otherL10 - Individual disability income insurance - otherL11_1 - Group lump sum riskL14 - Group disability income insuranceL15 - Investment linkedL16 - Investment policy with discretionary additionsL17 - Other investment policyL18 - Annuity without longevity riskL19 - Other | Report APRA product group. |\n| 3 | Insurance Benefit Type | Non-participating benefits with entitlement to discretionary additionsParticipating benefits | Report insurance benefit type. |\n| 4 | Insurance Business Type | All business - Unstressed RFBEL (gross of reinsurance)All business - Unstressed RFBEL (net of reinsurance) | Report insurance business type. |\n| 5 | Valuation Basis | LY/LYLY/TYTY/TY | Report valuation basis. |\n| 6 | Present Value Of Expected Receipts | Whole dollars | Report present value of expected receipts amount. |\n| 7 | Present Value Of Expected Benefit Payments | Whole dollars | Report present value of expected benefit payments amount. |\n| 8 | Present Value Of Expected Expenses | Whole dollars | Report present value of expected expenses amount. |\n| 9 | Present Value Of Expected RFBEL Other Components | Whole dollars | Report present value of expected other RFBEL components amount. |\n| 10 | Present Value Of Risk-Free Value Of Future Bonuses | Whole dollars | Report present value of risk-free value of future bonuses amount.This item only applies when insurance benefit is:Participating benefits. |\n\n \n\n### Table 8: Unstressed Other APL Components - Non-participating Benefits With Entitlement To Discretionary Additions And Participating Benefits - All Business – As At Reporting Date\n\nReporting basis\n\nThis section relates to:\n\n life insurers only;\n non-participating benefits with entitlement to discretionary additions and participating benefits; and\n all business.\n\nReport this table for each statutory fund.\n\nReport unstressed values before the effect of insurance risk stresses as at the reporting date.\n\nReport this table on an annual basis only.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\n| | Name | Valid values | Description |\n| --- | ------------------------------------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 2 | APRA Product Group | L1 - ConventionalL2 - Annuity with longevity riskL3_1 - Individual lump sum risk - stepped premiumL6 - Individual disability income insurance - stepped premiumL7_1 - Individual lump sum risk - otherL10 - Individual disability income insurance - otherL11_1 - Group lump sum riskL14 - Group disability income insuranceL15 - Investment linkedL16 - Investment policy with discretionary additionsL17 - Other investment policyL18 - Annuity without longevity riskL19 - Other | Report APRA product group. |\n| 3 | Insurance Benefit Type | Non-participating benefits with entitlement to discretionary additionsParticipating benefits | Report insurance benefit type. |\n| 4 | Policy Owners Retained Profits (PRP) | Whole dollars | Report policy owners’ retained profits (PRP) amount.This item only applies when insurance benefit is:Participating benefits. |\n| 5 | Termination Value | Whole dollars | Report termination value amount. |\n| 6 | Investment Fluctuation Reserve (IFR) | Whole dollars | Report Investment Fluctuation Reserve (IFR) amount.This item only applies when insurance benefit is:Non-participating benefits with entitlement to discretionary additions |\n\n \n\n### Table 9: Termination Values – All Benefits - All Business – As At Reporting Date\n\nReporting basis\n\nThis section relates to:\n\n life companies including friendly societies (approved benefit funds, which write defined benefit risk products (i.e. APRA product group F4));\n all benefits (but report by each of the listed insurance benefit types); and\n all business.\n\nReport this table for each statutory fund for life insurers and each benefit fund for friendly societies.\n\nReport unstressed values before the effect of insurance risk stresses as at the reporting date.\n\nReport this table on a quarterly and an annual basis.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\n| | Name | Valid values | Description |\n| --- | ------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Life Company Fund Type | Statutory fundBenefit fund | Report life company fund. |\n| 2 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 3 | Insurance Benefit Type | Non-participating benefits without entitlement to discretionary additionsNon-participating benefits with entitlement to discretionary additionsParticipating benefitsFriendly society benefits | Report insurance benefit type. |\n| 4 | Termination Value | Whole dollars | Report termination value. |\n| 5 | Investment Fluctuation Reserve (IFR) | Whole dollars | Report Investment Fluctuation Reserve (IFR).This item only applies when insurance benefit type is:Non-participating benefits with entitlement to discretionary additions.Report this only if IFR is positive. Report this as zero if IFR is negative. |\n| 6 | RFBEL (Gross Of Reinsurance) | Whole dollars | Report RFBEL (gross of reinsurance).Report this as a negative number if RFBEL (gross of reinsurance) is negative. |\n| 7 | RFBEL (Net Of Reinsurance) | Whole dollars | Report RFBEL (net of reinsurance).Report this as a negative number if RFBEL (net of reinsurance) is negative. |\n\n### \nTable 10: Impact Of Stress Margin – All Benefits – All Business – As At Reporting Date\n\nReporting basis\n\nThis section relates to:\n\n life companies including friendly societies (approved benefit funds, which write defined benefit risk products (i.e. APRA product group F4));\n all benefits (but report by each of the listed insurance benefit types); and\n all business.\n\nReport this table for each statutory fund for life insurers and each benefit fund for friendly societies.\n\nReport the change in risk-free best estimate liabilities or participating policy liability (net of reinsurance), whichever that is applicable, as a result of applying the individual insurance stresses for each APRA product group as at the reporting date.\n\nReport this table on a quarterly and an annual basis.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\n| | Name | Valid values | Description |\n| --- | -------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ----------------------------------------------- |\n| 1 | Life Company Fund Type | Statutory fundBenefit fund | Report life company fund. |\n| 2 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 3 | APRA Product Group | L1 - ConventionalL2 - Annuity with longevity riskL3_1 - Individual lump sum risk - stepped premiumL6 - Individual disability income insurance - stepped premiumL7_1 - Individual lump sum risk - otherL10 - Individual disability income insurance - otherL11_1 - Group lump sum riskL14 - Group disability income insuranceL15 - Investment linkedL16 - Investment policy with discretionary additionsL17 - Other investment policyL18 - Annuity without longevity riskL19 - OtherF4 - Defined benefit risk | Report APRA product group. |\n| 4 | Insurance Benefit Type | Non-participating benefitsParticipating benefitsFriendly society benefits | Report insurance benefit type. |\n| 5 | Mortality Random Pre-Diversified | Whole dollars | Report mortality random pre-diversified amount. |\n| 6 | Mortality Future Pre-Diversified | Whole dollars | Report mortality future pre-diversified amount. |\n| 7 | Morbidity Random Pre-Diversified | Whole dollars | Report morbidity random pre-diversified amount. |\n| 8 | Morbidity Future Pre-Diversified | Whole dollars | Report morbidity future pre-diversified amount. |\n| 9 | Event Pre-Diversified | Whole dollars | Report event pre-diversified amount. |\n| 10 | Longevity Pre-Diversified | Whole dollars | Report longevity pre-diversified amount. |\n| 11 | Total Stress Post-Diversified | Whole dollars | Report total stress post-diversified amount. |\n\n \n\n### Table 11: Variable Annuity Capital Charge Calculation\n\nReporting basis\n\nThis section relates to:\n\n life insurers only.\n\nReport this table for each statutory fund.\n\nReport the components of the variable annuity capital charge calculation as at reporting date.\n\nReport this table on a quarterly and an annual basis.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\nReport decimal values to two decimal places.\n\n| | Name | Valid values | Description |\n| --- | -------------------------------------------------------- | ------------- | ------------------------------------------------------------------------------------------- |\n| 1 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 2 | Capital Requirement Excluding Hedging | Whole dollars | Report capital requirement excluding hedging amount. |\n| 3 | Capital Requirement Including Hedging | Whole dollars | Report capital requirement including hedging amount |\n| 4 | Diversification Factor Between Asset And Insurance Risks | Decimal | Report diversification factor between asset and insurance risks within the range of 0 to 1. |\n| 5 | Effectiveness Factor | Decimal | Report effectiveness factor within the range of 0 to 0.7. |\n\n \n\n### Table 12: Actual Annual Loss Ratio Components – All Benefits – All Business\n\nReporting basis\n\nThis section relates to:\n\n life companies including friendly societies (approved benefit funds, which write defined benefit risk products (i.e. APRA product group F4));\n all benefits (but report by each of the listed insurance benefit types); and\n all business (but report by each of the listed insurance business types).\n\nReport this table for each statutory fund for life insurers and each benefit fund for friendly societies.\n\nReport actual annual loss ratio components.\n\nReport this table on an annual basis only.\n\nReport this item for the year up to the close of business on the last day of the reporting period.\n\nFor death, TPD and trauma related data items, insurers may apply allocations to report the items.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\nReport all items (including premium related numbers) as positive numbers unless otherwise stated.\n\n| | Name | Valid values | Description |\n| --- | ---------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Life Company Fund Type | Statutory fundBenefit fund | Report life company fund. |\n| 2 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 3 | APRA Product Group | L3. Individual death - stepped premiumL4. Individual total and permanent disability - stepped premiumL5. Individual trauma - stepped premiumL6. Individual disability income insurance - stepped premiumL7. Individual death - otherL8. Individual total and permanent disability - otherL9. Individual trauma - otherL10. Individual disability income insurance - otherL11. Group deathL12. Group total and permanent disabilityL13. Group traumaL14. Group disability income insuranceF4. Defined benefit risk | Report APRA product group. |\n| 4 | Insurance Business Type | In-force businessNew business | Report insurance business type. |\n| 5 | Insurance Benefit Type | Non-participating benefitsParticipating benefitsFriendly society benefits | Report insurance benefit type. |\n| 6 | Actual Gross Premiums Accrued | Whole dollars | Report actual gross premiums accrued amount. |\n| 7 | Actual Gross Claims Incurred | Whole dollars | Report actual gross claims incurred amount. |\n| 8 | Actual Gross Renewal Commissions Incurred | Whole dollars | Report actual gross renewal commissions incurred amount.This item applies when insurance business is:In-force business. |\n| 9 | Actual Net Premiums Accrued | Whole dollars | Report actual net premiums accrued amount . |\n| 10 | Actual Net Claims Incurred | Whole dollars | Report actual net claims incurred amount. |\n| 11 | Actual Net Renewal Commissions Incurred | Whole dollars | Report actual net renewal commissions incurred amount.This item only applies when insurance business is:In-force business. |\n| 12 | Actual Maintenance And Overhead Costs Incurred | Whole dollars | Report actual maintenance and overhead costs incurred amount. |\n| 13 | Actual Gross Initial Commissions Paid | Whole dollars | Report actual gross initial commissions paid amount.This item only applies when insurance business is:New business. |\n| 14 | Actual Net Initial Commissions Paid | Whole dollars | Report actual net initial commissions paid amount.This item only applies when insurance business is:New business. |\n\n \n\n### Table 13: Expected Annual Loss Ratio Components – All Benefits – In-force Business\n\nReporting basis\n\nThis section relates to:\n\n life companies including friendly societies (approved benefit funds, which write defined benefit risk products (i.e. APRA product group F4));\n all benefits (but report by each of the listed insurance benefit types); and\n in-force business only.\n\nReport this table for each statutory fund for life insurers and each benefit fund for friendly societies.\n\nReport expected annual loss ratio components.\n\nReport this table on an annual basis only.\n\nReport this item for the year up to the close of business on the last day of the reporting period.\n\nFor death, TPD and trauma related data items, insurers may apply allocations to report the items.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\nReport all items (including premium related numbers) as positive numbers unless otherwise stated.\n\nReport all items after adjusting for time value of money to reflect the value as at reporting date given that the expected items would have been determined at the end of the previous reporting period.\n\n| | Name | Valid values | Description |\n| --- | ------------------------------------------------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------- |\n| 1 | Life Company Fund Type | Statutory fundBenefit fund | Report life company fund. |\n| 2 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 3 | APRA Product Group | L3. Individual death - stepped premiumL4. Individual total and permanent disability - stepped premiumL5. Individual trauma - stepped premiumL6. Individual disability income insurance - stepped premiumL7. Individual death - otherL8. Individual total and permanent disability - otherL9. Individual trauma - otherL10. Individual disability income insurance - otherL11. Group deathL12. Group total and permanent disabilityL13. Group traumaL14. Group disability income insuranceF4. Defined benefit risk | Report APRA product group. |\n| 4 | Insurance Benefit Type | Non-participating benefitsParticipating benefitsFriendly society benefits | Report insurance benefit type. |\n| 5 | Expected Gross Premiums Accrued | Whole dollars | Report expected gross premiums accrued amount. |\n| 6 | Expected Gross Claims Incurred | Whole dollars | Report expected gross claims incurred amount. |\n| 7 | Expected Gross Renewal Commissions Incurred | Whole dollars | Report expected gross renewal commissions incurred amount. |\n| 8 | Expected Net Premium Accrued | Whole dollars | Report expected net premiums accrued amount. |\n| 9 | Expected Net Claims Incurred | Whole dollars | Report expected net claims incurred amount. |\n| 10 | Expected Net Renewal Commissions Incurred | Whole dollars | Report expected net renewal commissions incurred amount. |\n| 11 | Expected Maintenance And Overhead Costs Incurred | Whole dollars | Report expected maintenance and overhead costs incurred amount. |\n\n \n\n### Table 14: Actual Quarterly Loss Ratio Components – All Benefits – All Business\n\nReporting basis\n\nThis section relates to:\n\n life insurers only;\n non-participating benefits and participating benefits; and\n all business.\n\nReport this table for each statutory fund\n\nReport the actual quarterly loss ratio components.\n\nReport this table on a quarterly basis only.\n\nFor death, TPD and trauma related data items, insurers may apply allocations to report the items.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\nReport all items (including premium related numbers) as positive numbers unless otherwise stated.\n\n| | Name | Valid values | Description |\n| --- | ----------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------- |\n| 1 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 2 | APRA Product Group | L3. Individual death - stepped premiumL4. Individual total and permanent disability - stepped premiumL5. Individual trauma - stepped premiumL6. Individual disability income insurance - stepped premiumL7. Individual death - otherL8. Individual total and permanent disability - otherL9. Individual trauma - otherL10. Individual disability income insurance - otherL11. Group deathL12. Group total and permanent disabilityL13. Group traumaL14. Group disability income insurance | Report APRA product group. |\n| 3 | Insurance Benefit Type | Non-participating benefitsParticipating benefits | Report insurance benefit type. |\n| 4 | Actual Gross Premiums Accrued | Whole dollars | Report actual gross premiums accrued amount. |\n| 5 | Actual Gross Claims Incurred | Whole dollars | Report actual gross claims incurred amount. |\n| 6 | Actual Net Premiums Accrued | Whole dollars | Report actual net premiums accrued amount. |\n| 7 | Actual Net Claims Incurred | Whole dollars | Report actual net claims incurred amount. |","sortOrder":6},{"sectionNumber":"Reporting basis","sectionType":"subdivision","heading":"Reporting basis","content":"#### Reporting basis\n\nThis section relates to:\n\n life companies including friendly societies (approved benefit funds, which write defined benefit risk products (i.e. APRA product group F4));\n non-participating benefits without entitlement to discretionary additions and friendly society benefits; and\n in-force business.\n\nReport this table for each statutory fund for life insurers and each benefit fund for friendly societies.\n\nReport unstressed values before the effect of insurance risk stresses as at the reporting date.\n\nReport this table on an annual basis only.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\nReport all items (including premium related numbers) as positive numbers unless otherwise stated.\n\n| | Name | Valid values | Description |\n| --- | ------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------------------------------------------------------------------------------- |\n| 1 | Life Company Fund Type | Statutory fundBenefit fund | Report life company fund. |\n| 2 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 3 | APRA Product Group | L1 - ConventionalL2 - Annuity with longevity riskL3_1 - Individual lump sum risk - stepped premiumL6 - Individual disability income insurance - stepped premiumL7_1 - Individual lump sum risk - otherL10 - Individual disability income insurance - otherL11_1 - Group lump sum riskL14 - Group disability income insuranceL15 - Investment linkedL16 - Investment policy with discretionary additionsL17 - Other investment policyL18 - Annuity without longevity riskL19 - OtherF4 - Defined benefit risk | Report APRA product group. |\n| 4 | Insurance Business Type | In-force business - Unstressed RFBEL (gross of reinsurance)In-force business - Unstressed RFBEL (net of reinsurance) | Report insurance business type. |\n| 5 | Valuation Basis | LY/LYLY/TYTY/TY | Report valuation basis. |\n| 6 | Annuity And Investment Liability | Whole dollars | Report annuity and investment liability amount. |\n| 7 | CICP Reserve | Whole dollars | Report CICP reserve amount. |\n| 8 | RBNA Reserve | Whole dollars | Report RBNA reserve amount. |\n| 9 | IBNR Reserve | Whole dollars | Report IBNR reserve amount. |\n| 10 | URR | Whole dollars | Report URR amount. |\n| 11 | Other Past Premium Liability Component | Whole dollars | Report other past premium liability component amount. |\n| 12 | Present Value Of Expected Premiums | Whole dollars | Report present value of expected premiums amount. |\n| 13 | Present Value Of Expected Incurred Claims | Whole dollars | Report present value of expected incurred claims amount. |\n| 14 | Present Value Of Expected Commissions | Whole dollars | Report present value of expected commissions amount. |\n| 15 | Present Value Of Expected Maintenance And Overhead Costs | Whole dollars | Report present value of expected maintenance and overhead costs amount. |\n| 16 | Present Value Of Expected Other Future Premium Liability Component | Whole dollars | Report present value of expected other future premium liability component amount. |","sortOrder":7},{"sectionNumber":"Table 2: Unstressed RFBEL - Non-particip","sectionType":"division","heading":"Table 2: Unstressed RFBEL - Non-participating Benefits Without Entitlement To Discretionary Additions And Friendly Society Benefits - In-force Business - As At 12 Months After The Reporting Date (Discounted Back To The Reporting Date)","content":"### Table 2: Unstressed RFBEL - Non-participating Benefits Without Entitlement To Discretionary Additions And Friendly Society Benefits - In-force Business - As At 12 Months After The Reporting Date (Discounted Back To The Reporting Date)\n\nReporting basis\n\nThis section relates to:\n\n life companies including friendly societies (approved benefit funds, which write defined benefit risk products (i.e. APRA product group F4));\n non-participating benefits without entitlement to discretionary additions and friendly society benefits; and\n in-force business.\n\nReport this table for each statutory fund for life insurers and each benefit fund for friendly societies.\n\nReport unstressed values before the effect of insurance risk stresses as at 12 months after the reporting date (discounted back to reporting date).\n\nReport this table on an annual basis only.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\nReport all items (including premium related numbers) as positive numbers unless otherwise stated.\n\n| | Name | Valid values | Description |\n| --- | ------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------------------------------------------------------------------------------- |\n| 1 | Life Company Fund Type | Statutory fundBenefit fund | Report life company fund. |\n| 2 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 3 | APRA Product Group | L1 - ConventionalL2 - Annuity with longevity riskL3_1 - Individual lump sum risk - stepped premiumL6 - Individual disability income insurance - stepped premiumL7_1 - Individual lump sum risk - otherL10 - Individual disability income insurance - otherL11_1 - Group lump sum riskL14 - Group disability income insuranceL15 - Investment linkedL16 - Investment policy with discretionary additionsL17 - Other investment policyL18 - Annuity without longevity riskL19 - OtherF4 - Defined benefit risk | Report APRA product group. |\n| 4 | Insurance Business Type | In-force business - Unstressed RFBEL (gross of reinsurance)In-force business - Unstressed RFBEL (net of reinsurance) | Report insurance business type. |\n| 5 | Annuity and Investment Liability | Whole dollars | Report annuity and investment liability amount. |\n| 6 | CICP Reserve | Whole dollars | Report CICP reserve amount. |\n| 7 | RBNA Reserve | Whole dollars | Report RBNA reserve amount. |\n| 8 | IBNR Reserve | Whole dollars | Report IBNR reserve amount. |\n| 9 | URR | Whole dollars | Report URR amount. |\n| 10 | Other Past Premium Liability Component | Whole dollars | Report other past premium liability component amount. |\n| 11 | Present Value Of Expected Premiums | Whole dollars | Report present value of expected premiums amount. |\n| 12 | Present Value Of Expected Incurred Claims | Whole dollars | Report present value of expected incurred claims amount. |\n| 13 | Present Value Of Expected Commissions | Whole dollars | Report present value of expected commissions amount. |\n| 14 | Present Value Of Expected Maintenance And Overhead Costs | Whole dollars | Report present value of expected maintenance and overhead costs amount. |\n| 15 | Present Value Of Expected Other Future Premium Liability Component | Whole dollars | Report present value of expected other future premium liability component amount. |","sortOrder":8},{"sectionNumber":"Table 3: Unstressed RFBEL - Non-particip","sectionType":"division","heading":"Table 3: Unstressed RFBEL - Non-participating Benefit Without Entitlement To Discretionary Additions And Friendly Society Benefits - New Business - As At The Reporting Date And 12 Months After The Reporting Date (Discounted Back To Reporting Date)","content":"### Table 3: Unstressed RFBEL - Non-participating Benefit Without Entitlement To Discretionary Additions And Friendly Society Benefits - New Business - As At The Reporting Date And 12 Months After The Reporting Date (Discounted Back To Reporting Date)\n\nReporting basis\n\nThis section relates to:\n\n life companies including friendly societies (approved benefit funds, which write defined benefit risk products (i.e. APRA product group F4));\n non-participating benefits without entitlement to discretionary additions and friendly society benefits; and\n new business.\n\nReport this table for each statutory fund for life insurers and each benefit fund for friendly societies.\n\nReport unstressed values before the effect of insurance risk stresses as at the reporting date and 12 months after the reporting date (discounted back to reporting date).\n\nReport this table on an annual basis only.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\nReport all items (including premium related numbers) as positive numbers unless otherwise stated.\n\n| | Name | Valid values | Description |\n| --- | ------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------------------------------------------------------------------------------- |\n| 1 | Life Company Fund Type | Statutory fundBenefit fund | Report life company fund. |\n| 2 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 3 | APRA Product Group | L1 - ConventionalL2 - Annuity with longevity riskL3_1 - Individual lump sum risk - stepped premiumL6 - Individual disability income insurance - stepped premiumL7_1 - Individual lump sum risk - otherL10 - Individual disability income insurance - otherL11_1 - Group lump sum riskL14 - Group disability income insuranceL15 - Investment linkedL16 - Investment policy with discretionary additionsL17 - Other investment policyL18 - Annuity without longevity riskL19 - OtherF4 - Defined benefit risk | Report APRA product group. |\n| 4 | Insurance Business Type | New business - Unstressed RFBEL (gross of reinsurance)New business - Unstressed RFBEL (net of reinsurance) | Report insurance business type. |\n| 5 | Valuation Date | As at reporting dateAs at 12 months after reporting date (discounted back to reporting date) | Report valuation date. |\n| 6 | Annuity And Investment Liability | Whole dollars | Report annuity and investment liability amount. |\n| 7 | CICP Reserve | Whole dollars | Report CICP reserve amount. |\n| 8 | RBNA Reserve | Whole dollars | Report RBNA reserve amount. |\n| 9 | IBNR Reserve | Whole dollars | Report IBNR reserve amount. |\n| 10 | URR | Whole dollars | Report URR amount. |\n| 11 | Other Past Premium Liability Component | Whole dollars | Report other past premium liability component amount. |\n| 12 | Present Value Of Expected Premiums | Whole dollars | Report present value of expected premiums amount. |\n| 13 | Present Value Of Expected Incurred Claims | Whole dollars | Report present value of expected incurred claims amount. |\n| 14 | Present Value Of Expected Commissions | Whole dollars | Report present value of expected commissions amount. |\n| 15 | Present Value Of Expected Maintenance And Overhead Costs | Whole dollars | Report present value of expected maintenance and overhead costs amount. |\n| 16 | Present Value Of Expected Other Future Premium Liability Component | Whole dollars | Report present value of expected other future premium liability component amount. |","sortOrder":9},{"sectionNumber":"Table 4: Unstressed RFBEL - Non-particip","sectionType":"division","heading":"Table 4: Unstressed RFBEL - Non-participating Benefits Without Entitlement To Discretionary Additions - All Business - As At The Reporting Date And 12 Months After The Reporting Date (Discounted Back To Reporting Date)","content":"### Table 4: Unstressed RFBEL - Non-participating Benefits Without Entitlement To Discretionary Additions - All Business - As At The Reporting Date And 12 Months After The Reporting Date (Discounted Back To Reporting Date)\n\nReporting basis\n\nThis section relates to:\n\n life insurers only;\n non-participating benefits without entitlement to discretionary additions; and\n all business.\n\nReport this table for each statutory fund.\n\nReport unstressed values before the effect of insurance risk stresses as at the reporting date and 12 months after the reporting date (discounted back to reporting date).\n\nReport this table on a quarterly basis only.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\nReport all items (including premium related numbers) as positive numbers unless otherwise stated.\n\n| | Name | Valid values | Description |\n| --- | ------------------------------------------------------------------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------- |\n| 1 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 2 | APRA Product Group | L1 - ConventionalL2 - Annuity with longevity riskL3_1 - Individual lump sum risk - stepped premiumL6 - Individual disability income insurance - stepped premiumL7_1 - Individual lump sum risk - otherL10 - Individual disability income insurance - otherL11_1 - Group lump sum riskL14 - Group disability income insuranceL15 - Investment linkedL16 - Investment policy with discretionary additionsL17 - Other investment policyL18 - Annuity without longevity riskL19 - Other | Report APRA product group. |\n| 3 | Insurance Business Type | All business - Unstressed RFBEL (gross of reinsurance)All business - Unstressed RFBEL (net of reinsurance) | Report insurance business type. |\n| 4 | Valuation Date | As at reporting dateAs at 12 months after reporting date (discounted back to reporting date) | Report valuation date. |\n| 5 | Annuity And Investment Liability | Whole dollars | Report annuity and investment liability amount. |\n| 6 | CICP Reserve | Whole dollars | Report CICP reserve amount. |\n| 7 | RBNA Reserve | Whole dollars | Report RBNA reserve amount. |\n| 8 | IBNR Reserve | Whole dollars | Report IBNR reserve amount. |\n| 9 | URR | Whole dollars | Report URR amount. |\n| 10 | Other Past Premium Liability Component | Whole dollars | Report other past premium liability component amount. |\n| 11 | Present Value Of Expected Premiums | Whole dollars | Report present value of expected premiums amount. |\n| 12 | Present Value Of Expected Incurred Claims | Whole dollars | Report present value of expected incurred claims amount. |\n| 13 | Present Value Of Expected Commissions | Whole dollars | Report present value of expected commissions amount. |\n| 14 | Present Value Of Expected Maintenance And Overhead Costs | Whole dollars | Report present value of expected maintenance and overhead costs amount. |\n| 15 | Present Value Of Expected Other Future Premium Liability Component | Whole dollars | Report present value of expected other future premium liability component amount. |","sortOrder":10},{"sectionNumber":"Table 5: Stressed RFBEL — All Benefits -","sectionType":"division","heading":"Table 5: Stressed RFBEL — All Benefits - All Business - As At The Reporting Date And 12 Months After The Reporting Date (Discounted Back To Reporting Date)","content":"### Table 5: Stressed RFBEL – All Benefits - All Business - As At The Reporting Date And 12 Months After The Reporting Date (Discounted Back To Reporting Date)\n\nReporting basis\n\nThis section relates to:\n\n life companies including friendly societies (approved benefit funds, which write defined benefit risk products (i.e. APRA product group F4));\n all benefits (but report by each of the listed insurance benefit types); and\n all business.\n\nReport this table for each statutory fund for life insurers and each benefit fund for friendly societies. Report stressed values post the effect of insurance risk stresses and management actions as at the reporting date and 12 months after the reporting date (discounted back to reporting date).\n\nReport this table on a quarterly and an annual basis.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\nReport all items (including premium related numbers) as positive numbers unless otherwise stated.\n\n| | Name | Valid values | Description |\n| --- | ------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------------------------------------------------------------------------------- |\n| 1 | Life Company Fund Type | Statutory fundBenefit fund | Report life company fund. |\n| 2 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 3 | Insurance Benefit Type | Non-participating benefitsParticipating benefitsFriendly society benefits | Report insurance benefit type. |\n| 4 | APRA Product Group | L1 - ConventionalL2 - Annuity with longevity riskL3_1 - Individual lump sum risk - stepped premiumL6 - Individual disability income insurance - stepped premiumL7_1 - Individual lump sum risk - otherL10 - Individual disability income insurance - otherL11_1 - Group lump sum riskL14 - Group disability income insuranceL15 - Investment linkedL16 - Investment policy with discretionary additionsL17 - Other investment policyL18 - Annuity without longevity riskL19 - OtherF4 - Defined benefit risk | Report APRA product group. |\n| 5 | Insurance Business Type | All business - Stressed RFBEL (gross of reinsurance)All business - Stressed RFBEL (net of reinsurance) | Report insurance business. |\n| 6 | Valuation Date | As at reporting dateAs at 12 months after reporting date (discounted back to reporting date) | Report valuation date. |\n| 7 | Annuity And Investment Liability | Whole dollars | Report annuity and investment liability amount. |\n| 8 | CICP Reserve | Whole dollars | Report Claims in Course of Payment (CICP) reserve amount. |\n| 9 | RBNA Reserve | Whole dollars | Report Reported But Not Assessed (RBNA) reserve amount. |\n| 10 | IBNR Reserve | Whole dollars | Report Incurred But Not Reported (IBNR) reserve amount. |\n| 11 | URR | Whole dollars | Report Unexpired Risk Reserve (URR) amount. |\n| 12 | Other Past Premium Liability Component | Whole dollars | Report other past premium liability component amount. |\n| 13 | Present Value Of Expected Premiums | Whole dollars | Report present value of expected premiums amount. |\n| 14 | Present Value Of Expected Incurred Claims | Whole dollars | Report present value of expected incurred claims amount. |\n| 15 | Present Value Of Expected Commissions | Whole dollars | Report present value of expected commissions amount. |\n| 16 | Present Value Of Expected Maintenance And Overhead Costs | Whole dollars | Report present value of expected maintenance and overhead costs amount. |\n| 17 | Present Value Of Expected Other Future Premium Liability Component | Whole dollars | Report present value of expected other future premium liability component amount. |","sortOrder":11},{"sectionNumber":"Table 6: Components Of Termination Value","sectionType":"division","heading":"Table 6: Components Of Termination Value — Non-participating Benefits Without Entitlement To Discretionary Additions And Friendly Society Benefits — All Business - As At The Reporting Date","content":"### Table 6: Components Of Termination Value – Non-participating Benefits Without Entitlement To Discretionary Additions And Friendly Society Benefits – All Business - As At The Reporting Date\n\nReporting basis\n\nThis section relates to:\n\n life companies including friendly societies (approved benefit funds, which write defined benefit risk products (i.e. APRA product group F4));\n non-participating benefits without entitlement to discretionary additions and friendly society benefits; and\n all business.\n\nReport this table for each statutory fund for life insurers and each benefit fund for friendly societies.\n\nReport the components of termination value as at reporting date.\n\nReport this table on a quarterly and an annual basis.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\nReport all items (including premium related numbers) as positive numbers unless otherwise stated.\n\n| | Name | Valid values | Description |\n| --- | -------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ----------------------------------------------------------------- |\n| 1 | Life Company Fund Type | Statutory fundBenefit fund | Report life company fund. |\n| 2 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 3 | APRA Product Group | L1 - ConventionalL2 - Annuity with longevity riskL3_1 - Individual lump sum risk - stepped premiumL6 - Individual disability income insurance - stepped premiumL7_1 - Individual lump sum risk - otherL10 - Individual disability income insurance - otherL11_1 - Group lump sum riskL14 - Group disability income insuranceL15 - Investment linkedL16 - Investment policy with discretionary additionsL17 - Other investment policyL18 - Annuity without longevity riskL19 - OtherF4 - Defined benefit risk | Report APRA product group. |\n| 4 | Unstressed Net Past Premium Liabilities | Whole dollars | Report unstressed net past premium liabilities amount. |\n| 5 | Premium Refund In Excess Of Unexpired Risk Reserve | Whole dollars | Report premium refund in excess of unexpired risk reserve amount. |\n| 6 | Other Components Of Termination Value | Whole dollars | Report other components of termination value amount. |\n| 7 | Termination Value | Whole dollars | Report termination value amount. |","sortOrder":12},{"sectionNumber":"Table 7: Unstressed RFBEL - Non-particip","sectionType":"division","heading":"Table 7: Unstressed RFBEL - Non-participating Benefits With Entitlement To Discretionary Additions And Participating Benefits - All Business — As At Reporting Date","content":"### Table 7: Unstressed RFBEL - Non-participating Benefits With Entitlement To Discretionary Additions And Participating Benefits - All Business – As At Reporting Date\n\nReporting basis\n\nThis section relates to:\n\n life insurers only;\n non-participating benefits with entitlement to discretionary additions and participating benefits; and\n all business.\n\nReport this table for each statutory fund.\n\nReport unstressed values before the effect of insurance risk stresses as at the reporting date.\n\nReport this table on an annual basis only.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\nReport all items (including premium related numbers) as positive numbers unless otherwise stated.\n\n| | Name | Valid values | Description |\n| --- | -------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 2 | APRA Product Group | L1 - ConventionalL2 - Annuity with longevity riskL3_1 - Individual lump sum risk - stepped premiumL6 - Individual disability income insurance - stepped premiumL7_1 - Individual lump sum risk - otherL10 - Individual disability income insurance - otherL11_1 - Group lump sum riskL14 - Group disability income insuranceL15 - Investment linkedL16 - Investment policy with discretionary additionsL17 - Other investment policyL18 - Annuity without longevity riskL19 - Other | Report APRA product group. |\n| 3 | Insurance Benefit Type | Non-participating benefits with entitlement to discretionary additionsParticipating benefits | Report insurance benefit type. |\n| 4 | Insurance Business Type | All business - Unstressed RFBEL (gross of reinsurance)All business - Unstressed RFBEL (net of reinsurance) | Report insurance business type. |\n| 5 | Valuation Basis | LY/LYLY/TYTY/TY | Report valuation basis. |\n| 6 | Present Value Of Expected Receipts | Whole dollars | Report present value of expected receipts amount. |\n| 7 | Present Value Of Expected Benefit Payments | Whole dollars | Report present value of expected benefit payments amount. |\n| 8 | Present Value Of Expected Expenses | Whole dollars | Report present value of expected expenses amount. |\n| 9 | Present Value Of Expected RFBEL Other Components | Whole dollars | Report present value of expected other RFBEL components amount. |\n| 10 | Present Value Of Risk-Free Value Of Future Bonuses | Whole dollars | Report present value of risk-free value of future bonuses amount.This item only applies when insurance benefit is:Participating benefits. |","sortOrder":13},{"sectionNumber":"Table 8: Unstressed Other APL Components","sectionType":"division","heading":"Table 8: Unstressed Other APL Components - Non-participating Benefits With Entitlement To Discretionary Additions And Participating Benefits - All Business — As At Reporting Date","content":"### Table 8: Unstressed Other APL Components - Non-participating Benefits With Entitlement To Discretionary Additions And Participating Benefits - All Business – As At Reporting Date\n\nReporting basis\n\nThis section relates to:\n\n life insurers only;\n non-participating benefits with entitlement to discretionary additions and participating benefits; and\n all business.\n\nReport this table for each statutory fund.\n\nReport unstressed values before the effect of insurance risk stresses as at the reporting date.\n\nReport this table on an annual basis only.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\n| | Name | Valid values | Description |\n| --- | ------------------------------------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 2 | APRA Product Group | L1 - ConventionalL2 - Annuity with longevity riskL3_1 - Individual lump sum risk - stepped premiumL6 - Individual disability income insurance - stepped premiumL7_1 - Individual lump sum risk - otherL10 - Individual disability income insurance - otherL11_1 - Group lump sum riskL14 - Group disability income insuranceL15 - Investment linkedL16 - Investment policy with discretionary additionsL17 - Other investment policyL18 - Annuity without longevity riskL19 - Other | Report APRA product group. |\n| 3 | Insurance Benefit Type | Non-participating benefits with entitlement to discretionary additionsParticipating benefits | Report insurance benefit type. |\n| 4 | Policy Owners Retained Profits (PRP) | Whole dollars | Report policy owners’ retained profits (PRP) amount.This item only applies when insurance benefit is:Participating benefits. |\n| 5 | Termination Value | Whole dollars | Report termination value amount. |\n| 6 | Investment Fluctuation Reserve (IFR) | Whole dollars | Report Investment Fluctuation Reserve (IFR) amount.This item only applies when insurance benefit is:Non-participating benefits with entitlement to discretionary additions |","sortOrder":14},{"sectionNumber":"Table 9: Termination Values — All Benefi","sectionType":"division","heading":"Table 9: Termination Values — All Benefits - All Business — As At Reporting Date","content":"### Table 9: Termination Values – All Benefits - All Business – As At Reporting Date\n\nReporting basis\n\nThis section relates to:\n\n life companies including friendly societies (approved benefit funds, which write defined benefit risk products (i.e. APRA product group F4));\n all benefits (but report by each of the listed insurance benefit types); and\n all business.\n\nReport this table for each statutory fund for life insurers and each benefit fund for friendly societies.\n\nReport unstressed values before the effect of insurance risk stresses as at the reporting date.\n\nReport this table on a quarterly and an annual basis.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\n| | Name | Valid values | Description |\n| --- | ------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Life Company Fund Type | Statutory fundBenefit fund | Report life company fund. |\n| 2 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 3 | Insurance Benefit Type | Non-participating benefits without entitlement to discretionary additionsNon-participating benefits with entitlement to discretionary additionsParticipating benefitsFriendly society benefits | Report insurance benefit type. |\n| 4 | Termination Value | Whole dollars | Report termination value. |\n| 5 | Investment Fluctuation Reserve (IFR) | Whole dollars | Report Investment Fluctuation Reserve (IFR).This item only applies when insurance benefit type is:Non-participating benefits with entitlement to discretionary additions.Report this only if IFR is positive. Report this as zero if IFR is negative. |\n| 6 | RFBEL (Gross Of Reinsurance) | Whole dollars | Report RFBEL (gross of reinsurance).Report this as a negative number if RFBEL (gross of reinsurance) is negative. |\n| 7 | RFBEL (Net Of Reinsurance) | Whole dollars | Report RFBEL (net of reinsurance).Report this as a negative number if RFBEL (net of reinsurance) is negative. |","sortOrder":15},{"sectionNumber":"Table 10: Impact Of Stress Margin — All ","sectionType":"division","heading":"Table 10: Impact Of Stress Margin — All Benefits — All Business — As At Reporting Date","content":"### \nTable 10: Impact Of Stress Margin – All Benefits – All Business – As At Reporting Date\n\nReporting basis\n\nThis section relates to:\n\n life companies including friendly societies (approved benefit funds, which write defined benefit risk products (i.e. APRA product group F4));\n all benefits (but report by each of the listed insurance benefit types); and\n all business.\n\nReport this table for each statutory fund for life insurers and each benefit fund for friendly societies.\n\nReport the change in risk-free best estimate liabilities or participating policy liability (net of reinsurance), whichever that is applicable, as a result of applying the individual insurance stresses for each APRA product group as at the reporting date.\n\nReport this table on a quarterly and an annual basis.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\n| | Name | Valid values | Description |\n| --- | -------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ----------------------------------------------- |\n| 1 | Life Company Fund Type | Statutory fundBenefit fund | Report life company fund. |\n| 2 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 3 | APRA Product Group | L1 - ConventionalL2 - Annuity with longevity riskL3_1 - Individual lump sum risk - stepped premiumL6 - Individual disability income insurance - stepped premiumL7_1 - Individual lump sum risk - otherL10 - Individual disability income insurance - otherL11_1 - Group lump sum riskL14 - Group disability income insuranceL15 - Investment linkedL16 - Investment policy with discretionary additionsL17 - Other investment policyL18 - Annuity without longevity riskL19 - OtherF4 - Defined benefit risk | Report APRA product group. |\n| 4 | Insurance Benefit Type | Non-participating benefitsParticipating benefitsFriendly society benefits | Report insurance benefit type. |\n| 5 | Mortality Random Pre-Diversified | Whole dollars | Report mortality random pre-diversified amount. |\n| 6 | Mortality Future Pre-Diversified | Whole dollars | Report mortality future pre-diversified amount. |\n| 7 | Morbidity Random Pre-Diversified | Whole dollars | Report morbidity random pre-diversified amount. |\n| 8 | Morbidity Future Pre-Diversified | Whole dollars | Report morbidity future pre-diversified amount. |\n| 9 | Event Pre-Diversified | Whole dollars | Report event pre-diversified amount. |\n| 10 | Longevity Pre-Diversified | Whole dollars | Report longevity pre-diversified amount. |\n| 11 | Total Stress Post-Diversified | Whole dollars | Report total stress post-diversified amount. |","sortOrder":16},{"sectionNumber":"Table 11: Variable Annuity Capital Charg","sectionType":"division","heading":"Table 11: Variable Annuity Capital Charge Calculation","content":"### Table 11: Variable Annuity Capital Charge Calculation\n\nReporting basis\n\nThis section relates to:\n\n life insurers only.\n\nReport this table for each statutory fund.\n\nReport the components of the variable annuity capital charge calculation as at reporting date.\n\nReport this table on a quarterly and an annual basis.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\nReport decimal values to two decimal places.\n\n| | Name | Valid values | Description |\n| --- | -------------------------------------------------------- | ------------- | ------------------------------------------------------------------------------------------- |\n| 1 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 2 | Capital Requirement Excluding Hedging | Whole dollars | Report capital requirement excluding hedging amount. |\n| 3 | Capital Requirement Including Hedging | Whole dollars | Report capital requirement including hedging amount |\n| 4 | Diversification Factor Between Asset And Insurance Risks | Decimal | Report diversification factor between asset and insurance risks within the range of 0 to 1. |\n| 5 | Effectiveness Factor | Decimal | Report effectiveness factor within the range of 0 to 0.7. |","sortOrder":17},{"sectionNumber":"Table 12: Actual Annual Loss Ratio Compo","sectionType":"division","heading":"Table 12: Actual Annual Loss Ratio Components — All Benefits — All Business","content":"### Table 12: Actual Annual Loss Ratio Components – All Benefits – All Business\n\nReporting basis\n\nThis section relates to:\n\n life companies including friendly societies (approved benefit funds, which write defined benefit risk products (i.e. APRA product group F4));\n all benefits (but report by each of the listed insurance benefit types); and\n all business (but report by each of the listed insurance business types).\n\nReport this table for each statutory fund for life insurers and each benefit fund for friendly societies.\n\nReport actual annual loss ratio components.\n\nReport this table on an annual basis only.\n\nReport this item for the year up to the close of business on the last day of the reporting period.\n\nFor death, TPD and trauma related data items, insurers may apply allocations to report the items.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\nReport all items (including premium related numbers) as positive numbers unless otherwise stated.\n\n| | Name | Valid values | Description |\n| --- | ---------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Life Company Fund Type | Statutory fundBenefit fund | Report life company fund. |\n| 2 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 3 | APRA Product Group | L3. Individual death - stepped premiumL4. Individual total and permanent disability - stepped premiumL5. Individual trauma - stepped premiumL6. Individual disability income insurance - stepped premiumL7. Individual death - otherL8. Individual total and permanent disability - otherL9. Individual trauma - otherL10. Individual disability income insurance - otherL11. Group deathL12. Group total and permanent disabilityL13. Group traumaL14. Group disability income insuranceF4. Defined benefit risk | Report APRA product group. |\n| 4 | Insurance Business Type | In-force businessNew business | Report insurance business type. |\n| 5 | Insurance Benefit Type | Non-participating benefitsParticipating benefitsFriendly society benefits | Report insurance benefit type. |\n| 6 | Actual Gross Premiums Accrued | Whole dollars | Report actual gross premiums accrued amount. |\n| 7 | Actual Gross Claims Incurred | Whole dollars | Report actual gross claims incurred amount. |\n| 8 | Actual Gross Renewal Commissions Incurred | Whole dollars | Report actual gross renewal commissions incurred amount.This item applies when insurance business is:In-force business. |\n| 9 | Actual Net Premiums Accrued | Whole dollars | Report actual net premiums accrued amount . |\n| 10 | Actual Net Claims Incurred | Whole dollars | Report actual net claims incurred amount. |\n| 11 | Actual Net Renewal Commissions Incurred | Whole dollars | Report actual net renewal commissions incurred amount.This item only applies when insurance business is:In-force business. |\n| 12 | Actual Maintenance And Overhead Costs Incurred | Whole dollars | Report actual maintenance and overhead costs incurred amount. |\n| 13 | Actual Gross Initial Commissions Paid | Whole dollars | Report actual gross initial commissions paid amount.This item only applies when insurance business is:New business. |\n| 14 | Actual Net Initial Commissions Paid | Whole dollars | Report actual net initial commissions paid amount.This item only applies when insurance business is:New business. |","sortOrder":18},{"sectionNumber":"Table 13: Expected Annual Loss Ratio Com","sectionType":"division","heading":"Table 13: Expected Annual Loss Ratio Components — All Benefits — In-force Business","content":"### Table 13: Expected Annual Loss Ratio Components – All Benefits – In-force Business\n\nReporting basis\n\nThis section relates to:\n\n life companies including friendly societies (approved benefit funds, which write defined benefit risk products (i.e. APRA product group F4));\n all benefits (but report by each of the listed insurance benefit types); and\n in-force business only.\n\nReport this table for each statutory fund for life insurers and each benefit fund for friendly societies.\n\nReport expected annual loss ratio components.\n\nReport this table on an annual basis only.\n\nReport this item for the year up to the close of business on the last day of the reporting period.\n\nFor death, TPD and trauma related data items, insurers may apply allocations to report the items.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\nReport all items (including premium related numbers) as positive numbers unless otherwise stated.\n\nReport all items after adjusting for time value of money to reflect the value as at reporting date given that the expected items would have been determined at the end of the previous reporting period.\n\n| | Name | Valid values | Description |\n| --- | ------------------------------------------------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------- |\n| 1 | Life Company Fund Type | Statutory fundBenefit fund | Report life company fund. |\n| 2 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 3 | APRA Product Group | L3. Individual death - stepped premiumL4. Individual total and permanent disability - stepped premiumL5. Individual trauma - stepped premiumL6. Individual disability income insurance - stepped premiumL7. Individual death - otherL8. Individual total and permanent disability - otherL9. Individual trauma - otherL10. Individual disability income insurance - otherL11. Group deathL12. Group total and permanent disabilityL13. Group traumaL14. Group disability income insuranceF4. Defined benefit risk | Report APRA product group. |\n| 4 | Insurance Benefit Type | Non-participating benefitsParticipating benefitsFriendly society benefits | Report insurance benefit type. |\n| 5 | Expected Gross Premiums Accrued | Whole dollars | Report expected gross premiums accrued amount. |\n| 6 | Expected Gross Claims Incurred | Whole dollars | Report expected gross claims incurred amount. |\n| 7 | Expected Gross Renewal Commissions Incurred | Whole dollars | Report expected gross renewal commissions incurred amount. |\n| 8 | Expected Net Premium Accrued | Whole dollars | Report expected net premiums accrued amount. |\n| 9 | Expected Net Claims Incurred | Whole dollars | Report expected net claims incurred amount. |\n| 10 | Expected Net Renewal Commissions Incurred | Whole dollars | Report expected net renewal commissions incurred amount. |\n| 11 | Expected Maintenance And Overhead Costs Incurred | Whole dollars | Report expected maintenance and overhead costs incurred amount. |","sortOrder":19},{"sectionNumber":"Table 14: Actual Quarterly Loss Ratio Co","sectionType":"division","heading":"Table 14: Actual Quarterly Loss Ratio Components — All Benefits — All Business","content":"### Table 14: Actual Quarterly Loss Ratio Components – All Benefits – All Business\n\nReporting basis\n\nThis section relates to:\n\n life insurers only;\n non-participating benefits and participating benefits; and\n all business.\n\nReport this table for each statutory fund\n\nReport the actual quarterly loss ratio components.\n\nReport this table on a quarterly basis only.\n\nFor death, TPD and trauma related data items, insurers may apply allocations to report the items.\n\nUnits of measurement\n\nReport the dollar values in this table in whole Australian dollars.\n\nReport all items (including premium related numbers) as positive numbers unless otherwise stated.\n\n| | Name | Valid values | Description |\n| --- | ----------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------- |\n| 1 | Life Company Fund Name | Free text | Report the name of life company fund. |\n| 2 | APRA Product Group | L3. Individual death - stepped premiumL4. Individual total and permanent disability - stepped premiumL5. Individual trauma - stepped premiumL6. Individual disability income insurance - stepped premiumL7. Individual death - otherL8. Individual total and permanent disability - otherL9. Individual trauma - otherL10. Individual disability income insurance - otherL11. Group deathL12. Group total and permanent disabilityL13. Group traumaL14. Group disability income insurance | Report APRA product group. |\n| 3 | Insurance Benefit Type | Non-participating benefitsParticipating benefits | Report insurance benefit type. |\n| 4 | Actual Gross Premiums Accrued | Whole dollars | Report actual gross premiums accrued amount. |\n| 5 | Actual Gross Claims Incurred | Whole dollars | Report actual gross claims incurred amount. |\n| 6 | Actual Net Premiums Accrued | Whole dollars | Report actual net premiums accrued amount. |\n| 7 | Actual Net Claims Incurred | Whole dollars | Report actual net claims incurred amount. |","sortOrder":20}],"analysis":{"kimi_summary":{"_metrics":{"completionTokens":609},"content_quality":"ok","complexity_score":8,"scope_assessment":{"changed":false,"description":"The scope remains tightly focused on capital adequacy supplementary reporting for life companies. While the standard contains extensive detail, this reflects the inherent complexity of life insurance valuation rather than scope creep. The 14 tables collectively serve the single purpose of enabling APRA to assess compliance with capital adequacy standards."},"complexity_factors":["14 separate data tables with intricate reporting bases and validation rules","Extensive cross-references to other prudential standards (LPS 001, LPS 110, LPS 112, LPS 310, LPS 360) and the Life Insurance Act 1995","Multiple overlapping categorisations: 9 APRA product groups × 4 insurance benefit types × 3 business types × 2 reinsurance bases × 3 valuation bases","Dense actuarial terminology requiring specialist knowledge (RFBEL, CICP, IBNR, RBNA, URR, IFR, PRP, stress margins, diversification factors)","Conditional reporting requirements that vary by entity type, reporting frequency, and product characteristics","Nested definitions with forward and backward references to other standards and reporting periods","Complex transitional arrangements for switching from old to new reporting standards","Specific formatting requirements including sign conventions (positive/negative numbers) and decimal precision rules"],"plain_english_summary":"This APRA reporting standard requires life insurers and certain friendly societies to submit detailed electronic data on capital adequacy so APRA can assess their ability to meet future claims. It specifies 14 tables covering risk-free best estimate liabilities (with stresses), termination values, loss-ratio components, and variable annuity capital charges.\n\nLife insurers report quarterly (unaudited) plus an annual audited return; eligible friendly societies report annually. Submissions need auditor review, CEO/CFO authorization, and may be varied by APRA."},"flash_summary":{"complexity_score":8,"scope_assessment":{"changed":false,"description":"This Reporting Standard updates and replaces the previous capital adequacy supplementary reporting standard but does not materially expand the stated regulatory purpose: it remains focused on supplying APRA with the supplementary inputs needed for prudential supervision and capital adequacy assessment (paras 1–3). The principal change is granularity and prescriptiveness (more explicit tables, fields, valuation bases and audit expectations) and timing (effective for reporting periods ending on or after 1 July 2023 and transition rules for earlier periods) rather than a significant extension of the regulator’s statutory remit. APRA’s discretion to vary requirements for particular firms (paras 8, 16) is retained and explicit in the instrument."},"complexity_factors":["14 distinct reporting tables (Tables 1–14) with many line items","Extensive defined terms and glossary (many actuarial terms: RFBEL components, CICP, IBNR, RBNA, URR, IFR, PRP, etc.)","Multiple reporting permutations: by fund type (statutory/benefit), APRA product group (many L1–L19 and F4), insurance benefit type, insurance business type (in‑force/new/all), valuation basis (LY/LY, LY/TY, TY/TY) and gross/net of reinsurance","Mixed frequencies and audit rules: quarterly unaudited vs annual audited, plus allowance for estimates for first four unaudited submissions (paras 7, 13)","Cross‑references to several prudential and accounting standards (LPS 001, LPS 112, LPS 310, LRS 001, AASBs) requiring external alignment (paras 18–19 and various table notes)","Conditional APRA discretion: APRA can vary reporting requirements and periods per firm (paras 8, 16), adding heterogeneity to compliance obligations","Prescriptive quality control and assurance requirements, including auditor limited assurance and digital certificates (paras 11–15)","Detailed validation and units rules (whole dollars vs decimals, sign conventions, per‑fund reporting and non‑duplication constraints)","Transition provisions referencing an earlier revoked standard and carry‑over reporting obligations (para 17)"],"plain_english_summary":"**What this instrument does (mechanics first)\n\n- Sets detailed reporting requirements (data fields, table structure, units and validation rules) that life insurers and certain friendly society benefit funds must deliver to APRA to support calculation and supervision of capital adequacy. (see Authority, paras 1–5 and the Tables).\n\n- Identifies how to submit the data: electronically via APRA’s website or another method APRA notifies. (para 6)\n\n- Prescribes reporting frequency and timing: quarterly unaudited submissions for life insurers and annual audited submissions for life companies (including qualifying friendly society benefit funds), with specified due dates and APRA power to change periods for particular firms. (paras 7–10)\n\n- Imposes quality, audit and authorisation controls: the reporting must be produced from systems and controls reviewed and tested by the company’s Auditor (limited assurance at minimum), internal review/board authorisation procedures are required, and electronic submissions must be digitally signed by an authorised officer (PEO or CFO). (paras 11–15)\n\n- Gives APRA administrative powers: APRA may vary reporting requirements for a particular life company, require different frequencies, and grant extensions; transition rules require reporting under the old standard for some past periods. (paras 8, 10, 16–17)\n\n- Defines terminology and cross-references other prudential and accounting standards (LPS 001, LRS 001, LPS 310, LPS 112, AASBs, etc.). (paras 18–19)\n\nWhat it requires in practice\n\n- Firms must deliver a set of structured tables (Tables 1–14) covering granular items used in the risk‑free best estimate liabilities (RFBEL) calculation and related capital inputs: e.g. unstressed and stressed RFBEL (by benefit type and product group), components of termination value, impact of stresses (mortality, morbidity, longevity, event), variable annuity capital charge elements, actual and expected loss ratio components, and various reserves (CICP, IBNR, RBNA, URR), plus valuation bases and whether figures are gross or net of reinsurance. (Tables 1–14 and associated definitions)\n\n- Units and presentation are prescriptive: whole Australian dollars (some decimals allowed), positive/negative conventions, and reporting by APRA product group and fund. Some tables are annual-only, others quarterly and annual. (Table instructions and paras 7–9)\n\nWhy APRA says it matters (purpose claimed by the instrument)\n\n- The stated purpose is to supply APRA with the supplementary information APRA needs for prudential supervision, including assessing compliance with capital adequacy requirements. (para 2)\n\nTesting that claim against costs, incentives and likely effects\n\n- Who pays: life companies (life insurers and qualifying friendly society benefit funds) bear the direct compliance costs — data extraction, systems, actuarial work, auditor engagement and internal control work (paras 4, 11–13). Those are recurring costs because reporting is quarterly for many insurers. (paras 7–9)\n\n- Who decides and where discretion lies: APRA sets the baseline reporting standard and can alter both the content and frequency for particular firms by written notice (paras 8, 16). APRA also prescribes submission method and digital signature requirements (para 6, 14). That gives APRA administrative discretion over the burden placed on a specific firm.\n\n- Behavioural effects on firms: they must run or upgrade data, valuation and audit processes to produce frequent, granular, auditable outputs. That increases fixed compliance costs and operational work for actuarial, finance and IT teams (paras 11–13, Table instructions). Smaller or specialist issuers (e.g. small friendly funds) face proportionally higher per‑policy costs because the standard requires the same level of granular fields and audit procedures (paras 3, 11–13).\n\n- Market and competition effects: higher fixed compliance costs favour larger firms that can amortise system and audit costs across a bigger business; smaller players may exit, consolidate, or narrow product offerings — the instrument does not directly regulate pricing or product design, but it raises the cost of doing business and therefore can indirectly affect prices and competitive dynamics.\n\n- Trade-offs and opportunity costs: APRA obtains more granular supervisory data (benefit: more precise capital and stress assessment). The trade-off is industry resource diverted to reporting and audit rather than product development, distribution or operational improvement. APRA’s ability to vary requirements per firm (paras 8, 16) mitigates a one‑size‑fits‑all burden but increases regulatory discretion.\n\n- Compliance risk and implementation risk: the standard requires auditors to perform review/testing (limited assurance at minimum) and digital signing; firms with immature systems face greater risk of late or inaccurate submissions, with corresponding supervisory attention. There is also practical complexity in mapping different valuation bases (LY/TY, current/previous year bases), gross/net of reinsurance splits and multiple APRA product groups (Valuation basis & V definitions; Tables).\n\n- Disclosure and owner effects: the instrument explicitly states the information provided is not required to be given to policy owners under the Life Act and does not count as a section 124 reporting document (para 5). So the reporting burden is for regulator use, not a public disclosure obligation.\n\nImplementation detail that matters to firms\n\n- Exact fields and validation rules are prescriptive: 14 tables with specific fields (e.g. CICP, IBNR, RBNA, URR, present values of expected receipts/claims/expenses, IFR, PRP, stressed/unstressed RFBEL by benefit type and product group, variable annuity capital items). Firms must map their internal ledgers and actuarial models to these fields. (Tables 1–14 and the Definitions section.)\n\n- Auditing and estimation rules: actuarial valuations must follow prudential standards in force for the reporting period, but reasonable estimates are permitted for unaudited submissions (i.e. the first four quarterly submissions each financial year). (para 13)\n\n- Authorisation and security: electronic submissions must be digitally signed using APRA‑acceptable certificates and signed by an officer authorised by the PEO or CFO. (paras 14–15)\n\nNet: what changes for the regulated entities\n\n- They must operationalise a structured feed of capital‑calculation inputs to APRA on a fixed schedule, with auditor assurance and corporate sign‑off. APRA gains more granular and frequent insight into life insurers’ liabilities and capital implications, and retains discretion to demand more or less frequent or different information for individual firms. (paras 2, 7–9, 11–16)\n\nPractical risks and implementation considerations\n\n- Systems integration and mapping: many fields are actuarial and valuation‑specific (RFBEL components, valuation bases, pre/post stress amounts) and will require mapping from internal actuarial models and accounting systems to the reporting taxonomy.\n\n- Audit capacity and timing: the standard mandates auditor involvement (annual testing at minimum and limited assurance for the systems). Audit resource constraints could create a bottleneck for firms doing annual audited submissions (paras 11–12).\n\n- Disproportionate burden on smaller providers: friendly societies and small life businesses may face relatively higher costs to meet the same granularity and assurance requirements (paras 3, 11–13).\n\nKey source citations (useful quick reference)\n\n- Authority and purpose: paras 1–2\n- Application: para 3\n- Reporting obligation: paras 4–5\n- Submission method: para 6\n- Frequency, due dates and APRA discretion: paras 7–10\n- Quality control and audit: paras 11–13\n- Authorisation and digital signature: paras 14–15\n- APRA variation power and transition: paras 16–17\n- Definitions / cross‑references: paras 18–19\n- Required data: Tables 1–14 and the Definitions/General instructions sections\n\nSummary statement\n\nMechanically, this is a prescriptive APRA reporting standard that compels life insurers (and certain friendly society benefit funds) to produce and deliver a comprehensive set of liability and loss‑ratio inputs that APRA uses for capital adequacy supervision. The immediate burden falls on the reporting firms — systems, actuarial, audit and governance resources — while APRA obtains higher‑granularity inputs and discretionary powers to adapt reporting on a per‑firm basis. (See paras 2, 7–13, 16 and Tables 1–14.)"},"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"}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-120-of-2023","history":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-120-of-2023/history","analysis":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-120-of-2023/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-120-of-2023/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-120-of-2023/important-cases","documents":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-120-of-2023/documents"}}