{"id":"F2023L00610","name":"Financial Sector (Collection of Data) (reporting standard) determination No. 121 of 2023","slug":"financial-sector-collection-of-data-reporting-standard-determination-no-121-of-2023","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":104300,"registerId":"commonwealth-F2023L00610-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Statement of Financial Position","content":"## Statement of Financial Position Statement of Financial Position\n\n![Commonwealth Coat of Arms of Australia](image.002.png)\n\nThis Reporting Standard sets out the requirements for the provision of information to APRA in relation to a life company’s financial position.\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\n    2. 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\n    3. This Reporting Standard applies to all life insurance companies including friendly societies (together referred to as ‘life companies’) registered under the Life Insurance Act 1995 (Life Act). This Reporting Standard applies for reporting periods ending on or after 1 July 2023.\n\n    5. 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\nNote 1: This means that information provided under this Reporting Standard will be submitted five times for a full financial year.\n\nNote 2: The annual audited information provided under this Reporting Standard must be submitted in conjunction with the annual auditor’s report, as required under Prudential Standard LPS 310 Audit and Related Matters.\n\n    8. 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\n(a) in the case of quarterly information, within 20 business days after the end of the reporting period to which the information relates;\n\n(b) in the case of annual information, within three months after the end of the reporting period to which the information relates; or\n\n    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\nNote: For the avoidance of doubt, if the due date for a particular reporting period falls on a day other than a usual business day, a life company is nonetheless required to submit the information required no later than the due date.\n\n    11. 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\n    12. 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    13. 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\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    16. 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    17. A life company must report under the old reporting standard in respect of a transitional reporting period. For these purposes:\n\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\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\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\n19. Unless the contrary intention appears, a reference to an Act, Prudential Standard, Reporting Standard, Australian Accounting or Auditing Standard is a reference to the instrument as in force from time to time.\n\n","sortOrder":0},{"sectionNumber":"2","sectionType":"section","heading":"Objective of this Reporting Standard","content":"## Objective of this Reporting Standard Objective of this Reporting Standard\n\nThis Reporting Standard sets out the requirements for the provision of information to APRA in relation to a life company’s financial position.\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\n","sortOrder":1},{"sectionNumber":"3","sectionType":"section","heading":"Authority","content":"## Authority Authority\n\n","sortOrder":2},{"sectionNumber":"4","sectionType":"section","heading":"Purpose","content":"## Purpose Purpose\n\n    2. 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\n","sortOrder":3},{"sectionNumber":"5","sectionType":"section","heading":"Application and commencement","content":"## Application and commencement Application and commencement\n\n    3. This Reporting Standard applies to all life insurance companies including friendly societies (together referred to as ‘life companies’) registered under the Life Insurance Act 1995 (Life Act). This Reporting Standard applies for reporting periods ending on or after 1 July 2023.\n\n","sortOrder":4},{"sectionNumber":"6","sectionType":"section","heading":"Information required","content":"## Information required Information required\n\n    5. 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","sortOrder":5},{"sectionNumber":"7","sectionType":"section","heading":"Method of submission","content":"## Method of submission Method of submission\n\n","sortOrder":6},{"sectionNumber":"8","sectionType":"section","heading":"Reporting periods and due dates","content":"## Reporting periods and due dates Reporting periods and due dates\n\nNote 1: This means that information provided under this Reporting Standard will be submitted five times for a full financial year.\n\nNote 2: The annual audited information provided under this Reporting Standard must be submitted in conjunction with the annual auditor’s report, as required under Prudential Standard LPS 310 Audit and Related Matters.\n\n    8. 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\n(a) in the case of quarterly information, within 20 business days after the end of the reporting period to which the information relates;\n\n(b) in the case of annual information, within three months after the end of the reporting period to which the information relates; or\n\n    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\nNote: For the avoidance of doubt, if the due date for a particular reporting period falls on a day other than a usual business day, a life company is nonetheless required to submit the information required no later than the due date.\n\n","sortOrder":7},{"sectionNumber":"9","sectionType":"section","heading":"Quality control","content":"## Quality control Quality control\n\n    11. 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\n    12. 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    13. 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\n","sortOrder":8},{"sectionNumber":"10","sectionType":"section","heading":"Authorisation","content":"## Authorisation Authorisation\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","sortOrder":9},{"sectionNumber":"11","sectionType":"section","heading":"Variations","content":"## Variations Variations\n\n    16. 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","sortOrder":10},{"sectionNumber":"12","sectionType":"section","heading":"Transition","content":"## Transition Transition\n\n    17. A life company must report under the old reporting standard in respect of a transitional reporting period. For these purposes:\n\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\n","sortOrder":11},{"sectionNumber":"13","sectionType":"section","heading":"Interpretation","content":"## Interpretation Interpretation\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\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\n19. Unless the contrary intention appears, a reference to an Act, Prudential Standard, Reporting Standard, Australian Accounting or Auditing Standard is a reference to the instrument as in force from time to time.\n\n","sortOrder":12},{"sectionNumber":"14","sectionType":"section","heading":"Reporting Standard LRS 300.0","content":"## Reporting Standard LRS 300.0 Reporting Standard LRS 300.0\n\nThese instructions assist completion of the Reporting Standard LRS 300.0 Statement of Financial Position (Individual statutory fund, Licensed insurer and statutory fund eliminations). The report collects information relating to the licensed insurer’s statement of financial position.\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\nIn completing the reporting standards, unless otherwise stated specifically, reporting life companies are to follow the basis consistent with the relevant Australian Accounting Standards. In particular, appropriate consideration must be given to the interpretation, the basis for measurement, and the netting between revenues/expenses items and financial assets/liabilities.\n\nEach item reported under this Reporting Standard aligns with the Accounting Standards made by the Australian Accounting Standards Board (AASB). The applicable AASB references are specified with each item. AASB reference provides a written description of the accounting meaning of an IFRS Taxonomy element.\n\nEach IFRS taxonomy element contains at least one cross-reference to an AASB Standard (that incorporates IFRS 17 Standards as issued and amended by the International Accounting Standards Board (IASB)) and has a reference type that can be used to identify the source of that element. The IFRS Taxonomy uses the following element reference types:\n\n(b) example—an element of this type represents an example provided in an IFRS/AASB Standard or its accompanying materials; and\n\n(c) common practice—an element of this type reflects common reporting practice within IFRS/AASB financial statements they not specifically mentioned in IFRS/AASB Standards or their accompanying materials, but are consistent with IFRS/AASB Standards. They have been found to be frequently disclosed across a range of companies and accounting jurisdictions.\n\nAny assets recognised for insurance acquisition cash flows paid under AASB 17.28B (pre-coverage or relating to renewals) are included as part of the carrying amount of the related portfolios of insurance contracts issued (in accordance with AASB 17.79). Similarly, any assets or liabilities for cash flows related to portfolios of reinsurance contracts held are reported in accordance with AASB 17.79.\n\nFor APRA reporting, life insurers must also meet the relevant policy liability valuation requirements outlined in the Prudential Standard LPS 340 Valuation of Policy Liabilities (LPS 340).\n\n##   \n\nInformation in this Reporting Standard is to be completed by life insurers including friendly societies (together referred to as life companies) for each reporting period on statutory fund (approved benefit fund for a friendly society), licensed insurer (LI) and statutory fund eliminations bases.\n\nLRS 300.0 – Statutory fund (Table 1) data must be submitted for each statutory fund (approved benefit fund for a friendly society) separately for each reporting period.\n\nLRS 300.0 – LI (Table 2) data must be submitted for the sum of individual statutory funds, the sum of statutory fund eliminations, the general fund, and if applicable the general fund eliminations for each reporting period. The term, ‘general fund’ has been used to refer to the shareholders’ fund of a life company other than a friendly society or the management fund of a friendly society.\n\nThe expressions Australian Business and Overseas Business refer to the territories where the life insurance business is carried on.\n\nThis section is also to be completed for each participating and non-participating business. The expressions participating business and non-participating business are defined in the Life Act.\n\nConvert amounts denominated in foreign currency to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates.\n\n| Statutory fund (Table 1): Column 1 | Report the total amount for Australian business for the individual statutory fund.                                                                         |\n| ---------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Statutory fund (Table 1):Column 2  | Report the total amount for overseas business for the individual statutory fund.                                                                           |\n| Statutory fund (Table 1):Column 3  | Column 3 ‘Total business’ is a derived column and is calculated as the sum of column 1 and column 2.                                                       |\n| LI (Table 2):Column 1              | Report the total amounts for Australian business before statutory fund eliminations representing the sum of individual statutory funds in positive values. |\n| LI (Table 2):Column 2              | Report the total amounts for overseas business before statutory fund eliminations representing the sum of individual statutory funds in positive values.   |\n| LI (Table 2):Column 3              | Column 3 ‘Total business before statutory fund eliminations’ is a derived column and is calculated as the sum of columns 1 and 2.                          |\n| LI (Table 2):Column 4              | Report the total amounts for Australian business statutory fund eliminations in negative values.                                                           |\n| LI (Table 2):Column 5              | Report the total amounts for overseas business statutory fund eliminations in negative values.                                                             |\n| LI (Table 2):Column 6              | Column 6 ‘Total business’ is a derived column and is calculated as the sum of columns 4 and 5.                                                             |\n| LI (Table 2):Column 7              | Column 7 ‘Australian business after statutory fund eliminations’ is a derived column and is calculated as the sum of columns 1 and 4.                      |\n| LI (Table 2):Column 8              | Column 8 ‘Overseas business after statutory fund eliminations’ is a derived column and is calculated as the sum of columns 2 and 5.                        |\n| LI (Table 2):Column 9              | Column 9 ‘Total business (after statutory fund eliminations)’ is a derived column and is calculated as the sum of columns 7 and 8.                         |\n| LI (Table 2):Column 10             | Report the amount for the general fund in positive values.                                                                                                 |\n| LI (Table 2):Column 11             | Report the amount for general fund eliminations in negative values.                                                                                        |\n| LI (Table 2):Column 12             | Column 12 ‘Total entity’ is a derived column and is calculated as the sum of columns 9, 10 and 11.                                                         |\n\n| Item 1   | Item 1 total cash and cash equivalents, is a derived item calculated as the sum of item 1.1 and item 1.2.Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6. |\n| -------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 1.1 | Report cash.Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6.                                                                                              |\n| Item 1.2 | Report cash equivalents.Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6.                                                                                  |\n\n| Item 2   | Item 2 total receivables, is a derived item calculated as the sum of items 2.1 to 2.3 inclusive.This item is based on AASB 101.54 (h) Disclosure and AASB 101.78 (b) Disclosure. |\n| -------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 2.1 | Report accrued income receivable.Report this item in accordance with AASB 101.78 (b) Common practice.                                                                            |\n| Item 2.2 | Report prepayments.Report this item in accordance with AASB 101.78 (b) Example.                                                                                                  |\n| Item 2.3 | Report other receivables.Report this item in accordance with AASB 101.78 (b) Example. Lessors report finance lease receivables at this item.                                     |\n\n| Item 4   | Item 4 total deferred tax assets, is a derived item calculated as the sum of item 4.1 and item 4.2.Report this item in accordance with AASB 101.54 (o) Disclosure, AASB 112.5, AASB 112.81 (g) (i) Disclosure and AASB 101.56 Disclosure.                                                                                                                                   |\n| -------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 4.1 | Report unused tax losses.Report this item in accordance with AASB 112.81 (g) Disclosure.Report this amount on an annual basis per that disclosed in the insurer’s yearly statutory accounts. For the quarterly returns (not the annual return), when the insurer does not have sufficient information to report a split, report this in item 4.2 Other deferred tax assets. |\n| Item 4.2 | Report other deferred tax assets.Report this item in accordance with AASB 112.5 and AASB 112.81 (g) Common practice.For the quarterly returns (not the annual return), when the insurer does not have sufficient information to report total deferred tax assets split between items 4.1 and 4.2, report total deferred tax assets here.                                    |\n\n| Item 5       | Item 5 other assets, is a derived item calculated as the sum of item 5.1 and item 5.2.Report this item in accordance with AASB 101.54 (d) Disclosure.                                                                                    |\n| ------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 5.1     | Item 5.1 other financial assets, is a derived item and is calculated as the sum of items 5.1.1 to 5.1.6 inclusive.Report this item in accordance with AASB 132.11 and AASB 101.54 (d) Disclosure.                                        |\n| Item 5.1.1   | Report investments.Report investment balances that are not reported elsewhere in this Reporting Standard.Report this item in accordance with AASB 101.55 Common practice.                                                                |\n| Item 5.1.2   | Report derivative financial instruments. Report this item in accordance with AASB 101.55 Common practice and AASB 9 Appendix A.                                                                                                          |\n| Item 5.1.3   | Report securities purchased under agreement to resell.Report this item in accordance with AASB 101.55 Common practice, AASB 9.3.2.15, AASB 9.3.2.23 (a), AASB 9.B3.2.16 (a)–(c), AASB 7.14, AASB 7.15 and AASB 7.42D (a)–(c) Disclosure. |\n| Item 5.1.4   | Report equities/unit trusts.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                                             |\n| Item 5.1.5   | Item 5.1.5 is total debt instruments held - non-indexed IBS and indexed IBS a derived item and is calculated as the sum of item 5.1.5.1 and item 5.1.5.2.Report this item in accordance with AASB 101.55 Common practice.                |\n| Item 5.1.5.1 | Report non-indexed interest-bearing securities (IBS).Report this item in accordance with AASB 101.55 Common practice.                                                                                                                    |\n| Item 5.1.5.2 | Report indexed IBS.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                                                      |\n| Item 5.1.6   | Report other financial assets – other.Report this item in accordance with AASB 101.54 (d) Disclosure.                                                                                                                                    |\n| Item 5.2     | Item 5.2 is other non-financial assets, a derived item calculated as the sum of item 5.2.1 and item 5.2.2.Report this item in accordance with AASB 101.55 Common practice.                                                               |\n| Item 5.2.1   | Report net defined benefit asset.Report this item in accordance with AASB 119.8 and AASB 119.63.                                                                                                                                         |\n| Item 5.2.2   | Report other non-financial assets – other.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                               |\n\n| Item 6 | Report total non-current assets and disposal groups classified as held for sale.Report this item in accordance with AASB 101.54 (j) Disclosure, AASB 5 Appendix A and AASB 5.6. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 7   | Item 7 insurance contract assets, is a derived item calculated as the sum of item 7.1 and item 7.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a), AASB 17.100 Disclosure and AASB 101.54 (da).                                                                                        |\n| -------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 7.1 | Report assets for incurred claims (being the asset equivalent of the liabilities for incurred claims) that are presented as insurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (da) Disclosure.           |\n| Item 7.2 | Report assets for remaining coverage (being the asset equivalent of the liabilities for remaining coverage) that are presented as insurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (da) Disclosure. |\n\n| Item 8   | Item 8 reinsurance contract assets, is a derived item calculated as the sum of item 8.1 and item 8.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c), AASB 17.100 Disclosure and AASB 101.54 (da).                 |\n| -------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 8.1 | Report assets for incurred claims that are presented as reinsurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (da) Disclosure.        |\n| Item 8.2 | Report assets for remaining coverage that are presented as reinsurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (da) Disclosure. |\n\n| Item 9   | Item 9 total investments accounted for using the equity method, is a derived item calculated as the sum of item 9.1 and item 9.2.Report this item in accordance with AASB 128.3, AASB 12.B16 Disclosure, AASB 101.54 (e) Disclosure and AASB 8.24 (a) Disclosure. |\n| -------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 9.1 | Report investments in associates accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.16.                                                                                               |\n| Item 9.2 | Report investments in joint ventures accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.16.                                                                                           |\n\n| Item 10   | Item 10 investments in subsidiaries, joint ventures and associates not accounted for using the equity method, is a derived item calculated as the sum of items 10.1 to 10.3 inclusive.Report this item in accordance with AASB 127.10 Disclosure, AASB 10 Appendix A and AASB 128.3. |\n| --------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Item 10.1 | Report investments in subsidiaries not accounted for using the equity method.Report this item in accordance with AASB 10 Appendix A and AASB 127.10 Disclosure.                                                                                                                      |\n| Item 10.2 | Report investments in associates not accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.17-19.                                                                                                           |\n| Item 10.3 | Report investments in joint ventures not accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.17-19.                                                                                                       |\n\n| Item 11   | Item 11 property, plant and equipment net of depreciation / impairment is a derived item calculated as item 11.1 less item 11.2.Report this item in accordance with AASB 116.6, AASB 116.73 (e) Disclosure and AASB 101.54 (a) Disclosure. |\n| --------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Item 11.1 | Report property, plant and equipment – gross carrying amount.Report this item in accordance with AASB 116.6 and AASB 116.73 (d) Disclosure.                                                                                                |\n| Item 11.2 | Report property, plant and equipment – accumulated depreciation.Report this item in accordance with AASB 116.75 (b) Disclosure and AASB 116.73 (d) Common practice.                                                                        |\n\n| Item 12 | Report total investment property.Report this item in accordance with AASB 101.54 (b) Disclosure, AASB 140.5, AASB 140.79 (d) Disclosure and AASB 140.76 Disclosure. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 14     | Item 14 is total intangible assets and goodwill, a derived item calculated as the sum of item 14.1 and item 14.2 less item 14.3.Report this item in accordance with AASB 3 Appendix A, AASB 138.8 and AASB 138.118 Common practice. |\n| ----------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 14.1   | Report goodwill.Report this item in accordance with AASB 3 Appendix A, AASB 136.135 (a) Disclosure, AASB 136.134 (a) Disclosure, AASB 3.B67 (d) Disclosure and AASB 101.54 (c) Disclosure.                                          |\n| Item 14.2   | Item 14.2 is intangible assets other than goodwill, a derived item calculated as the sum of item 14.2.1 and item 14.2.2.Report this item in accordance with AASB 138.8, AASB 101.54 (c) Disclosure and AASB 138.118 (e) Disclosure. |\n| Item 14.2.1 | Report intangible assets with a finite life.Report this item in accordance with AASB 138.8, AASB 136.135 (b) Disclosure, AASB 138.122 (a) Disclosure and AASB 136.134 (b) Disclosure.                                               |\n| Item 14.2.2 | Report intangible assets with an indefinite life.Report this item in accordance with AASB 138.8, AASB 136.135 (b) Disclosure, AASB 138.122 (a) Disclosure and AASB 136.134 (b) Disclosure.                                          |\n| Item 14.3   | Report total accumulated amortisation and impairment of intangible assets and goodwill.Report this item in accordance with AASB 138.8, AASB 138.118 (c) Disclosure and AASB 3 Appendix A.                                           |\n\n| Item 15 | Item 15 total assets, is a derived item calculated as the sum of items 1 to 14 inclusive.Report this item in accordance with AASB 101.55 Disclosure. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 16   | Item 16 total payables, is a derived item calculated as the sum of items 16.1 to 16.3 inclusive.Report this item in accordance with AASB 101.54 (k) Disclosure. |\n| --------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 16.1 | Report accrued expenses.Report this item in accordance with AASB 101.55 Common practice.                                                                        |\n| Item 16.2 | Report dividends payable.                                                                                                                                       |\n| Item 16.3 | Report other payables.Report this item in accordance with AASB 101.55 Common practice.                                                                          |\n\n| Item 18   | Item 18 insurance contract liabilities, is a derived item calculated as the sum of item 18.1 and item 18.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b), AASB 17.100 Disclosure and AASB 101.54 (ma).                   |\n| --------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 18.1 | Report liabilities for incurred claims that are presented as insurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (ma) Disclosure.        |\n| Item 18.2 | Report liabilities for remaining coverage that are presented as insurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (ma) Disclosure. |\n\n| Item 19   | Item 19 is reinsurance contract liabilities, a derived item and is calculated as the sum of item 19.1 and item 19.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d), AASB 17.100 Disclosure and AASB 101.54 (ma).                                                                              |\n| --------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 19.1 | Report liabilities for incurred claims (being the liability equivalent of the assets for incurred claims) that are presented as reinsurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (ma) Disclosure.       |\n| Item 19.2 | Report liabilities for remaining coverage (being the liability equivalent of assets for remaining coverage) that are presented as reinsurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (ma) Disclosure. |\n\n| Item 21       | Item 21 other liabilities, is a derived item calculated as the sum of item 21.1 other financial liabilities and item 21.2 other non-financial liabilities.                                                |\n| ------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 21.1     | Item 21.1 other financial liabilities, is a derived item and is calculated as the sum of items 21.1.1 to 21.1.9 inclusive.Report this item in accordance with AASB 132.11 and AASB 101.54 (m) Disclosure. |\n| Item 21.1.1   | Report overdrafts.Report this item in accordance with AASB 107.45 Common practice                                                                                                                         |\n| Item 21.1.2   | Report securities issued (e.g. promissory notes/commercial paper).Report this item in accordance with AASB 101.55 Common practice.                                                                        |\n| Item 21.1.3   | Item 21.1.3 term loans, is a derived item. Report item 21.1.3 as the sum of item 21.1.3.1 and item 21.1.3.2.Report this item in accordance with AASB 101.112 (c) Common practice.                         |\n| Item 21.1.3.1 | Report term loans with a variable interest rate.Report this item in accordance with AASB 7.39 Common practice.                                                                                            |\n| Item 21.1.3.2 | Report term loans with a fixed interest rate.Report this item in accordance with AASB 7.39 Common practice.                                                                                               |\n| Item 21.1.4   | Report total borrowings.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                  |\n| Item 21.1.5   | Report securities sold under agreements to repurchase.Report this item in accordance with AASB 101.55 Common practice.                                                                                    |\n| Item 21.1.6   | Report derivative financial instruments.Report this item in accordance with AASB 101.55 Common practice and AASB 9 Appendix A.                                                                            |\n| Item 21.1.7   | Report loan capital.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                      |\n| Item 21.1.8   | Report hybrid securities.Report this item in accordance with AASB 101.106 (d) Common practice.                                                                                                            |\n| Item 21.1.9   | Report other financial liabilities - other.Report this item in accordance with AASB 132.11 and AASB 101.55 Common practice.                                                                               |\n| Item 21.2     | Item 21.2 other non-financial liabilities is a derived item. Report item 21.2 as the sum of item 21.2.1 and item 21.2.2.                                                                                  |\n| Item 21.2.1   | Report net defined benefit liability.Report this item in accordance with AASB 119.8 and AASB 119.63.                                                                                                      |\n| Item 21.2.2   | Report other non-financial liabilities – other.Report this item in accordance with AASB 101.55 Common practice.                                                                                           |\n\n| Item 22 | Report current tax liabilities.Report this item in accordance with AASB 112.5 and AASB 101.54 (n) Disclosure. |\n| ------- | ------------------------------------------------------------------------------------------------------------- |\n\n| Item 23 | Report deferred tax liabilities.Report this item in accordance with AASB 112.5, AASB 101.54 (o) Disclosure, AASB 112.81 (g) (i) Disclosure and AASB 101.56 Disclosure. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 24   | Item 24, provisions, is a derived item and is calculated as the sum of items 24.1 to 24.3 inclusive.Report this item in accordance with AASB 137.10, AASB 137.84 (a) Disclosure and AASB 101.78 (d) Disclosure. |\n| --------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 24.1 | Report provisions for restructuring costs.Report this item in accordance with AASB 137.10 and AASB 137.70 Example.                                                                                              |\n| Item 24.2 | Report provisions for employee entitlements.Report this item in accordance with AASB 137.10 and AASB 101.78 (d) Disclosure.                                                                                     |\n| Item 24.3 | Report any other provisions not reported in items 24.1 – 24.3 inclusive.Report this item in accordance with AASB 137.10, AASB 137.84 (a) Disclosure and AASB 101.78 (d) Disclosure.                             |\n\n| Item 25 | Report liabilities included in disposal groups classified as held for sale.Report this item in accordance with AASB 5 Appendix A, AASB 101.54 (p) Disclosure and AASB 5.38 Disclosure. |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 26 | Item 26 is total liabilities, a derived item calculated as the sum of items 16 to 25 inclusive.Report this item in accordance with AASB 101.55 Disclosure. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 27 | Item 27 is net assets, a derived item calculated as item 15 less item 26.Report this item in accordance with AASB 101.112 (c) Common practice and AASB 1.IG63 Example. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 28       | Item 28 is total equity, a derived item calculated as the sum of items 28.1 to 28.3 inclusive.Report this item in accordance with AASB 101.55 Disclosure and AASB 101.78 (e) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                      |\n| ------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 28.1     | Item 28.1 total issued capital is a derived item calculated as the sum of items 28.1.1 to 28.1.3.Report this item in accordance with AASB 101.78 (e) Example.                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |\n| Item 28.1.1   | Report ordinary shares.Report this item in accordance with AASB 133.5 and AASB 101.79 (a) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |\n| Item 28.1.2   | Report preference shares.Report this item in accordance with AASB 101.79 (a) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |\n| Item 28.1.3   | Report other issued capital.Report this item in accordance with AASB 101.79 (a) Disclosure.Report mutual equity interests at this item.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |\n| Item 28.2     | Item 28.2 total reserves is a derived item calculated as the sum of items 28.2.1 to 28.2.10 inclusive.Report this item in accordance with AASB 101.78 (e) Example.                                                                                                                                                                                                                                                                                                                                                                                                                                                            |\n| Item 28.2.1   | Report general reserves.Report this item in accordance with AASB 101.106 Disclosure and AASB 101.79 (b) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |\n| Item 28.2.2   | Report capital profits reserves.Report this item in accordance with AASB 101.108 Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |\n| Item 28.2.3   | Item 28.2.3 total asset revaluation reserves is a derived item calculated as the sum of item 28.2.3.1 and item 28.2.3.2.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |\n| Item 28.2.3.1 | Report asset revaluation reserves for property, plant and equipment.Report this item in accordance with AASB 101.108, AASB 16.39 and AASB 116.77 (f) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                              |\n| Item 28.2.3.2 | Report asset revaluation reserves for intangibles.Report this item in accordance with AASB 138.124 (b) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |\n| Item 28.2.4   | Report foreign currency translation reserves.Report this item in accordance with AASB 101.78 (e) Common practice, AASB 101.108 and AASB 121.52 (b).                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |\n| Item 28.2.5   | Report cash flow hedge reserves.Report this item in accordance with AASB 101.78 (e) and AASB 9.6.5.11 Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |\n| Item 28.2.6   | Report share-based payment reserves.Report this item in accordance with AASB 101.78 (e) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |\n| Item 28.2.7   | Report financial assets at FVOCI.Report this item in accordance with AASB 101.78 (e) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |\n| Item 28.2.8   | Report cost of hedging reserves.Report this item in accordance with AASB 101.108 Example and AASB 9.6.5.16 Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |\n| Item 28.2.9   | Report insurance/reinsurance finance reserve.Insurance finance reserve represents the reserve of insurance finance income (expenses) from insurance contracts issued excluded from profit or loss. Reinsurance finance reserve represents the reserve of finance income (expenses) from reinsurance contracts held.Report the amount of insurance finance expense or income recognised in other comprehensive income where the entity chooses the accounting policy set out in AASB 17.88(b) or AASB 17.89(b).Report this item in accordance with AASB 101.54 (r) Disclosure, 101.78 (e) Disclosure and AASB 101.108 Example. |\n| Item 28.2.10  | Report other reserves.Report this item in accordance with AASB 101.106 Disclosure and AASB 101.79 (b) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |\n| Item 28.3     | Report retained earnings.Report this item in accordance with AASB 101.IG6 Example and AASB 101.78 (e) Example.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |\n|               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |\n\n","sortOrder":13},{"sectionNumber":"15","sectionType":"section","heading":"Statement of Financial Position","content":"## Statement of Financial Position Statement of Financial Position\n\nThese instructions assist completion of the Reporting Standard LRS 300.0 Statement of Financial Position (Individual statutory fund, Licensed insurer and statutory fund eliminations). The report collects information relating to the licensed insurer’s statement of financial position.\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\nIn completing the reporting standards, unless otherwise stated specifically, reporting life companies are to follow the basis consistent with the relevant Australian Accounting Standards. In particular, appropriate consideration must be given to the interpretation, the basis for measurement, and the netting between revenues/expenses items and financial assets/liabilities.\n\nEach item reported under this Reporting Standard aligns with the Accounting Standards made by the Australian Accounting Standards Board (AASB). The applicable AASB references are specified with each item. AASB reference provides a written description of the accounting meaning of an IFRS Taxonomy element.\n\nEach IFRS taxonomy element contains at least one cross-reference to an AASB Standard (that incorporates IFRS 17 Standards as issued and amended by the International Accounting Standards Board (IASB)) and has a reference type that can be used to identify the source of that element. The IFRS Taxonomy uses the following element reference types:\n\n(b) example—an element of this type represents an example provided in an IFRS/AASB Standard or its accompanying materials; and\n\n(c) common practice—an element of this type reflects common reporting practice within IFRS/AASB financial statements they not specifically mentioned in IFRS/AASB Standards or their accompanying materials, but are consistent with IFRS/AASB Standards. They have been found to be frequently disclosed across a range of companies and accounting jurisdictions.\n\nAny assets recognised for insurance acquisition cash flows paid under AASB 17.28B (pre-coverage or relating to renewals) are included as part of the carrying amount of the related portfolios of insurance contracts issued (in accordance with AASB 17.79). Similarly, any assets or liabilities for cash flows related to portfolios of reinsurance contracts held are reported in accordance with AASB 17.79.\n\nFor APRA reporting, life insurers must also meet the relevant policy liability valuation requirements outlined in the Prudential Standard LPS 340 Valuation of Policy Liabilities (LPS 340).\n\n##   \n\nInformation in this Reporting Standard is to be completed by life insurers including friendly societies (together referred to as life companies) for each reporting period on statutory fund (approved benefit fund for a friendly society), licensed insurer (LI) and statutory fund eliminations bases.\n\nLRS 300.0 – Statutory fund (Table 1) data must be submitted for each statutory fund (approved benefit fund for a friendly society) separately for each reporting period.\n\nLRS 300.0 – LI (Table 2) data must be submitted for the sum of individual statutory funds, the sum of statutory fund eliminations, the general fund, and if applicable the general fund eliminations for each reporting period. The term, ‘general fund’ has been used to refer to the shareholders’ fund of a life company other than a friendly society or the management fund of a friendly society.\n\nThe expressions Australian Business and Overseas Business refer to the territories where the life insurance business is carried on.\n\nThis section is also to be completed for each participating and non-participating business. The expressions participating business and non-participating business are defined in the Life Act.\n\nConvert amounts denominated in foreign currency to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates.\n\n| Statutory fund (Table 1): Column 1 | Report the total amount for Australian business for the individual statutory fund.                                                                         |\n| ---------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Statutory fund (Table 1):Column 2  | Report the total amount for overseas business for the individual statutory fund.                                                                           |\n| Statutory fund (Table 1):Column 3  | Column 3 ‘Total business’ is a derived column and is calculated as the sum of column 1 and column 2.                                                       |\n| LI (Table 2):Column 1              | Report the total amounts for Australian business before statutory fund eliminations representing the sum of individual statutory funds in positive values. |\n| LI (Table 2):Column 2              | Report the total amounts for overseas business before statutory fund eliminations representing the sum of individual statutory funds in positive values.   |\n| LI (Table 2):Column 3              | Column 3 ‘Total business before statutory fund eliminations’ is a derived column and is calculated as the sum of columns 1 and 2.                          |\n| LI (Table 2):Column 4              | Report the total amounts for Australian business statutory fund eliminations in negative values.                                                           |\n| LI (Table 2):Column 5              | Report the total amounts for overseas business statutory fund eliminations in negative values.                                                             |\n| LI (Table 2):Column 6              | Column 6 ‘Total business’ is a derived column and is calculated as the sum of columns 4 and 5.                                                             |\n| LI (Table 2):Column 7              | Column 7 ‘Australian business after statutory fund eliminations’ is a derived column and is calculated as the sum of columns 1 and 4.                      |\n| LI (Table 2):Column 8              | Column 8 ‘Overseas business after statutory fund eliminations’ is a derived column and is calculated as the sum of columns 2 and 5.                        |\n| LI (Table 2):Column 9              | Column 9 ‘Total business (after statutory fund eliminations)’ is a derived column and is calculated as the sum of columns 7 and 8.                         |\n| LI (Table 2):Column 10             | Report the amount for the general fund in positive values.                                                                                                 |\n| LI (Table 2):Column 11             | Report the amount for general fund eliminations in negative values.                                                                                        |\n| LI (Table 2):Column 12             | Column 12 ‘Total entity’ is a derived column and is calculated as the sum of columns 9, 10 and 11.                                                         |\n\n| Item 1   | Item 1 total cash and cash equivalents, is a derived item calculated as the sum of item 1.1 and item 1.2.Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6. |\n| -------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 1.1 | Report cash.Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6.                                                                                              |\n| Item 1.2 | Report cash equivalents.Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6.                                                                                  |\n\n| Item 2   | Item 2 total receivables, is a derived item calculated as the sum of items 2.1 to 2.3 inclusive.This item is based on AASB 101.54 (h) Disclosure and AASB 101.78 (b) Disclosure. |\n| -------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 2.1 | Report accrued income receivable.Report this item in accordance with AASB 101.78 (b) Common practice.                                                                            |\n| Item 2.2 | Report prepayments.Report this item in accordance with AASB 101.78 (b) Example.                                                                                                  |\n| Item 2.3 | Report other receivables.Report this item in accordance with AASB 101.78 (b) Example. Lessors report finance lease receivables at this item.                                     |\n\n| Item 4   | Item 4 total deferred tax assets, is a derived item calculated as the sum of item 4.1 and item 4.2.Report this item in accordance with AASB 101.54 (o) Disclosure, AASB 112.5, AASB 112.81 (g) (i) Disclosure and AASB 101.56 Disclosure.                                                                                                                                   |\n| -------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 4.1 | Report unused tax losses.Report this item in accordance with AASB 112.81 (g) Disclosure.Report this amount on an annual basis per that disclosed in the insurer’s yearly statutory accounts. For the quarterly returns (not the annual return), when the insurer does not have sufficient information to report a split, report this in item 4.2 Other deferred tax assets. |\n| Item 4.2 | Report other deferred tax assets.Report this item in accordance with AASB 112.5 and AASB 112.81 (g) Common practice.For the quarterly returns (not the annual return), when the insurer does not have sufficient information to report total deferred tax assets split between items 4.1 and 4.2, report total deferred tax assets here.                                    |\n\n| Item 5       | Item 5 other assets, is a derived item calculated as the sum of item 5.1 and item 5.2.Report this item in accordance with AASB 101.54 (d) Disclosure.                                                                                    |\n| ------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 5.1     | Item 5.1 other financial assets, is a derived item and is calculated as the sum of items 5.1.1 to 5.1.6 inclusive.Report this item in accordance with AASB 132.11 and AASB 101.54 (d) Disclosure.                                        |\n| Item 5.1.1   | Report investments.Report investment balances that are not reported elsewhere in this Reporting Standard.Report this item in accordance with AASB 101.55 Common practice.                                                                |\n| Item 5.1.2   | Report derivative financial instruments. Report this item in accordance with AASB 101.55 Common practice and AASB 9 Appendix A.                                                                                                          |\n| Item 5.1.3   | Report securities purchased under agreement to resell.Report this item in accordance with AASB 101.55 Common practice, AASB 9.3.2.15, AASB 9.3.2.23 (a), AASB 9.B3.2.16 (a)–(c), AASB 7.14, AASB 7.15 and AASB 7.42D (a)–(c) Disclosure. |\n| Item 5.1.4   | Report equities/unit trusts.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                                             |\n| Item 5.1.5   | Item 5.1.5 is total debt instruments held - non-indexed IBS and indexed IBS a derived item and is calculated as the sum of item 5.1.5.1 and item 5.1.5.2.Report this item in accordance with AASB 101.55 Common practice.                |\n| Item 5.1.5.1 | Report non-indexed interest-bearing securities (IBS).Report this item in accordance with AASB 101.55 Common practice.                                                                                                                    |\n| Item 5.1.5.2 | Report indexed IBS.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                                                      |\n| Item 5.1.6   | Report other financial assets – other.Report this item in accordance with AASB 101.54 (d) Disclosure.                                                                                                                                    |\n| Item 5.2     | Item 5.2 is other non-financial assets, a derived item calculated as the sum of item 5.2.1 and item 5.2.2.Report this item in accordance with AASB 101.55 Common practice.                                                               |\n| Item 5.2.1   | Report net defined benefit asset.Report this item in accordance with AASB 119.8 and AASB 119.63.                                                                                                                                         |\n| Item 5.2.2   | Report other non-financial assets – other.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                               |\n\n| Item 6 | Report total non-current assets and disposal groups classified as held for sale.Report this item in accordance with AASB 101.54 (j) Disclosure, AASB 5 Appendix A and AASB 5.6. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 7   | Item 7 insurance contract assets, is a derived item calculated as the sum of item 7.1 and item 7.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a), AASB 17.100 Disclosure and AASB 101.54 (da).                                                                                        |\n| -------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 7.1 | Report assets for incurred claims (being the asset equivalent of the liabilities for incurred claims) that are presented as insurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (da) Disclosure.           |\n| Item 7.2 | Report assets for remaining coverage (being the asset equivalent of the liabilities for remaining coverage) that are presented as insurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (da) Disclosure. |\n\n| Item 8   | Item 8 reinsurance contract assets, is a derived item calculated as the sum of item 8.1 and item 8.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c), AASB 17.100 Disclosure and AASB 101.54 (da).                 |\n| -------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 8.1 | Report assets for incurred claims that are presented as reinsurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (da) Disclosure.        |\n| Item 8.2 | Report assets for remaining coverage that are presented as reinsurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (da) Disclosure. |\n\n| Item 9   | Item 9 total investments accounted for using the equity method, is a derived item calculated as the sum of item 9.1 and item 9.2.Report this item in accordance with AASB 128.3, AASB 12.B16 Disclosure, AASB 101.54 (e) Disclosure and AASB 8.24 (a) Disclosure. |\n| -------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 9.1 | Report investments in associates accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.16.                                                                                               |\n| Item 9.2 | Report investments in joint ventures accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.16.                                                                                           |\n\n| Item 10   | Item 10 investments in subsidiaries, joint ventures and associates not accounted for using the equity method, is a derived item calculated as the sum of items 10.1 to 10.3 inclusive.Report this item in accordance with AASB 127.10 Disclosure, AASB 10 Appendix A and AASB 128.3. |\n| --------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Item 10.1 | Report investments in subsidiaries not accounted for using the equity method.Report this item in accordance with AASB 10 Appendix A and AASB 127.10 Disclosure.                                                                                                                      |\n| Item 10.2 | Report investments in associates not accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.17-19.                                                                                                           |\n| Item 10.3 | Report investments in joint ventures not accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.17-19.                                                                                                       |\n\n| Item 11   | Item 11 property, plant and equipment net of depreciation / impairment is a derived item calculated as item 11.1 less item 11.2.Report this item in accordance with AASB 116.6, AASB 116.73 (e) Disclosure and AASB 101.54 (a) Disclosure. |\n| --------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Item 11.1 | Report property, plant and equipment – gross carrying amount.Report this item in accordance with AASB 116.6 and AASB 116.73 (d) Disclosure.                                                                                                |\n| Item 11.2 | Report property, plant and equipment – accumulated depreciation.Report this item in accordance with AASB 116.75 (b) Disclosure and AASB 116.73 (d) Common practice.                                                                        |\n\n| Item 12 | Report total investment property.Report this item in accordance with AASB 101.54 (b) Disclosure, AASB 140.5, AASB 140.79 (d) Disclosure and AASB 140.76 Disclosure. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 14     | Item 14 is total intangible assets and goodwill, a derived item calculated as the sum of item 14.1 and item 14.2 less item 14.3.Report this item in accordance with AASB 3 Appendix A, AASB 138.8 and AASB 138.118 Common practice. |\n| ----------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 14.1   | Report goodwill.Report this item in accordance with AASB 3 Appendix A, AASB 136.135 (a) Disclosure, AASB 136.134 (a) Disclosure, AASB 3.B67 (d) Disclosure and AASB 101.54 (c) Disclosure.                                          |\n| Item 14.2   | Item 14.2 is intangible assets other than goodwill, a derived item calculated as the sum of item 14.2.1 and item 14.2.2.Report this item in accordance with AASB 138.8, AASB 101.54 (c) Disclosure and AASB 138.118 (e) Disclosure. |\n| Item 14.2.1 | Report intangible assets with a finite life.Report this item in accordance with AASB 138.8, AASB 136.135 (b) Disclosure, AASB 138.122 (a) Disclosure and AASB 136.134 (b) Disclosure.                                               |\n| Item 14.2.2 | Report intangible assets with an indefinite life.Report this item in accordance with AASB 138.8, AASB 136.135 (b) Disclosure, AASB 138.122 (a) Disclosure and AASB 136.134 (b) Disclosure.                                          |\n| Item 14.3   | Report total accumulated amortisation and impairment of intangible assets and goodwill.Report this item in accordance with AASB 138.8, AASB 138.118 (c) Disclosure and AASB 3 Appendix A.                                           |\n\n| Item 15 | Item 15 total assets, is a derived item calculated as the sum of items 1 to 14 inclusive.Report this item in accordance with AASB 101.55 Disclosure. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 16   | Item 16 total payables, is a derived item calculated as the sum of items 16.1 to 16.3 inclusive.Report this item in accordance with AASB 101.54 (k) Disclosure. |\n| --------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 16.1 | Report accrued expenses.Report this item in accordance with AASB 101.55 Common practice.                                                                        |\n| Item 16.2 | Report dividends payable.                                                                                                                                       |\n| Item 16.3 | Report other payables.Report this item in accordance with AASB 101.55 Common practice.                                                                          |\n\n| Item 18   | Item 18 insurance contract liabilities, is a derived item calculated as the sum of item 18.1 and item 18.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b), AASB 17.100 Disclosure and AASB 101.54 (ma).                   |\n| --------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 18.1 | Report liabilities for incurred claims that are presented as insurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (ma) Disclosure.        |\n| Item 18.2 | Report liabilities for remaining coverage that are presented as insurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (ma) Disclosure. |\n\n| Item 19   | Item 19 is reinsurance contract liabilities, a derived item and is calculated as the sum of item 19.1 and item 19.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d), AASB 17.100 Disclosure and AASB 101.54 (ma).                                                                              |\n| --------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 19.1 | Report liabilities for incurred claims (being the liability equivalent of the assets for incurred claims) that are presented as reinsurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (ma) Disclosure.       |\n| Item 19.2 | Report liabilities for remaining coverage (being the liability equivalent of assets for remaining coverage) that are presented as reinsurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (ma) Disclosure. |\n\n| Item 21       | Item 21 other liabilities, is a derived item calculated as the sum of item 21.1 other financial liabilities and item 21.2 other non-financial liabilities.                                                |\n| ------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 21.1     | Item 21.1 other financial liabilities, is a derived item and is calculated as the sum of items 21.1.1 to 21.1.9 inclusive.Report this item in accordance with AASB 132.11 and AASB 101.54 (m) Disclosure. |\n| Item 21.1.1   | Report overdrafts.Report this item in accordance with AASB 107.45 Common practice                                                                                                                         |\n| Item 21.1.2   | Report securities issued (e.g. promissory notes/commercial paper).Report this item in accordance with AASB 101.55 Common practice.                                                                        |\n| Item 21.1.3   | Item 21.1.3 term loans, is a derived item. Report item 21.1.3 as the sum of item 21.1.3.1 and item 21.1.3.2.Report this item in accordance with AASB 101.112 (c) Common practice.                         |\n| Item 21.1.3.1 | Report term loans with a variable interest rate.Report this item in accordance with AASB 7.39 Common practice.                                                                                            |\n| Item 21.1.3.2 | Report term loans with a fixed interest rate.Report this item in accordance with AASB 7.39 Common practice.                                                                                               |\n| Item 21.1.4   | Report total borrowings.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                  |\n| Item 21.1.5   | Report securities sold under agreements to repurchase.Report this item in accordance with AASB 101.55 Common practice.                                                                                    |\n| Item 21.1.6   | Report derivative financial instruments.Report this item in accordance with AASB 101.55 Common practice and AASB 9 Appendix A.                                                                            |\n| Item 21.1.7   | Report loan capital.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                      |\n| Item 21.1.8   | Report hybrid securities.Report this item in accordance with AASB 101.106 (d) Common practice.                                                                                                            |\n| Item 21.1.9   | Report other financial liabilities - other.Report this item in accordance with AASB 132.11 and AASB 101.55 Common practice.                                                                               |\n| Item 21.2     | Item 21.2 other non-financial liabilities is a derived item. Report item 21.2 as the sum of item 21.2.1 and item 21.2.2.                                                                                  |\n| Item 21.2.1   | Report net defined benefit liability.Report this item in accordance with AASB 119.8 and AASB 119.63.                                                                                                      |\n| Item 21.2.2   | Report other non-financial liabilities – other.Report this item in accordance with AASB 101.55 Common practice.                                                                                           |\n\n| Item 22 | Report current tax liabilities.Report this item in accordance with AASB 112.5 and AASB 101.54 (n) Disclosure. |\n| ------- | ------------------------------------------------------------------------------------------------------------- |\n\n| Item 23 | Report deferred tax liabilities.Report this item in accordance with AASB 112.5, AASB 101.54 (o) Disclosure, AASB 112.81 (g) (i) Disclosure and AASB 101.56 Disclosure. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 24   | Item 24, provisions, is a derived item and is calculated as the sum of items 24.1 to 24.3 inclusive.Report this item in accordance with AASB 137.10, AASB 137.84 (a) Disclosure and AASB 101.78 (d) Disclosure. |\n| --------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 24.1 | Report provisions for restructuring costs.Report this item in accordance with AASB 137.10 and AASB 137.70 Example.                                                                                              |\n| Item 24.2 | Report provisions for employee entitlements.Report this item in accordance with AASB 137.10 and AASB 101.78 (d) Disclosure.                                                                                     |\n| Item 24.3 | Report any other provisions not reported in items 24.1 – 24.3 inclusive.Report this item in accordance with AASB 137.10, AASB 137.84 (a) Disclosure and AASB 101.78 (d) Disclosure.                             |\n\n| Item 25 | Report liabilities included in disposal groups classified as held for sale.Report this item in accordance with AASB 5 Appendix A, AASB 101.54 (p) Disclosure and AASB 5.38 Disclosure. |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 26 | Item 26 is total liabilities, a derived item calculated as the sum of items 16 to 25 inclusive.Report this item in accordance with AASB 101.55 Disclosure. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 27 | Item 27 is net assets, a derived item calculated as item 15 less item 26.Report this item in accordance with AASB 101.112 (c) Common practice and AASB 1.IG63 Example. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 28       | Item 28 is total equity, a derived item calculated as the sum of items 28.1 to 28.3 inclusive.Report this item in accordance with AASB 101.55 Disclosure and AASB 101.78 (e) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                      |\n| ------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 28.1     | Item 28.1 total issued capital is a derived item calculated as the sum of items 28.1.1 to 28.1.3.Report this item in accordance with AASB 101.78 (e) Example.                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |\n| Item 28.1.1   | Report ordinary shares.Report this item in accordance with AASB 133.5 and AASB 101.79 (a) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |\n| Item 28.1.2   | Report preference shares.Report this item in accordance with AASB 101.79 (a) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |\n| Item 28.1.3   | Report other issued capital.Report this item in accordance with AASB 101.79 (a) Disclosure.Report mutual equity interests at this item.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |\n| Item 28.2     | Item 28.2 total reserves is a derived item calculated as the sum of items 28.2.1 to 28.2.10 inclusive.Report this item in accordance with AASB 101.78 (e) Example.                                                                                                                                                                                                                                                                                                                                                                                                                                                            |\n| Item 28.2.1   | Report general reserves.Report this item in accordance with AASB 101.106 Disclosure and AASB 101.79 (b) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |\n| Item 28.2.2   | Report capital profits reserves.Report this item in accordance with AASB 101.108 Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |\n| Item 28.2.3   | Item 28.2.3 total asset revaluation reserves is a derived item calculated as the sum of item 28.2.3.1 and item 28.2.3.2.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |\n| Item 28.2.3.1 | Report asset revaluation reserves for property, plant and equipment.Report this item in accordance with AASB 101.108, AASB 16.39 and AASB 116.77 (f) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                              |\n| Item 28.2.3.2 | Report asset revaluation reserves for intangibles.Report this item in accordance with AASB 138.124 (b) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |\n| Item 28.2.4   | Report foreign currency translation reserves.Report this item in accordance with AASB 101.78 (e) Common practice, AASB 101.108 and AASB 121.52 (b).                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |\n| Item 28.2.5   | Report cash flow hedge reserves.Report this item in accordance with AASB 101.78 (e) and AASB 9.6.5.11 Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |\n| Item 28.2.6   | Report share-based payment reserves.Report this item in accordance with AASB 101.78 (e) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |\n| Item 28.2.7   | Report financial assets at FVOCI.Report this item in accordance with AASB 101.78 (e) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |\n| Item 28.2.8   | Report cost of hedging reserves.Report this item in accordance with AASB 101.108 Example and AASB 9.6.5.16 Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |\n| Item 28.2.9   | Report insurance/reinsurance finance reserve.Insurance finance reserve represents the reserve of insurance finance income (expenses) from insurance contracts issued excluded from profit or loss. Reinsurance finance reserve represents the reserve of finance income (expenses) from reinsurance contracts held.Report the amount of insurance finance expense or income recognised in other comprehensive income where the entity chooses the accounting policy set out in AASB 17.88(b) or AASB 17.89(b).Report this item in accordance with AASB 101.54 (r) Disclosure, 101.78 (e) Disclosure and AASB 101.108 Example. |\n| Item 28.2.10  | Report other reserves.Report this item in accordance with AASB 101.106 Disclosure and AASB 101.79 (b) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |\n| Item 28.3     | Report retained earnings.Report this item in accordance with AASB 101.IG6 Example and AASB 101.78 (e) Example.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |\n|               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |\n\n","sortOrder":14},{"sectionNumber":"16","sectionType":"section","heading":"General instructions","content":"## General instructions General instructions\n\nThese instructions assist completion of the Reporting Standard LRS 300.0 Statement of Financial Position (Individual statutory fund, Licensed insurer and statutory fund eliminations). The report collects information relating to the licensed insurer’s statement of financial position.\n\n","sortOrder":15},{"sectionNumber":"17","sectionType":"section","heading":"Reporting tables","content":"## Reporting tables Reporting tables\n\nTables described in this reporting standard list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.\n\n","sortOrder":16},{"sectionNumber":"18","sectionType":"section","heading":"General accounting basis","content":"## General accounting basis General accounting basis\n\nIn completing the reporting standards, unless otherwise stated specifically, reporting life companies are to follow the basis consistent with the relevant Australian Accounting Standards. In particular, appropriate consideration must be given to the interpretation, the basis for measurement, and the netting between revenues/expenses items and financial assets/liabilities.\n\n","sortOrder":17},{"sectionNumber":"19","sectionType":"section","heading":"References to Australian Accounting Standards","content":"## References to Australian Accounting Stan References to Australian Accounting Standards\n\nEach item reported under this Reporting Standard aligns with the Accounting Standards made by the Australian Accounting Standards Board (AASB). The applicable AASB references are specified with each item. AASB reference provides a written description of the accounting meaning of an IFRS Taxonomy element.\n\n","sortOrder":18},{"sectionNumber":"20","sectionType":"section","heading":"IFRS taxonomy element references","content":"## IFRS taxonomy element references IFRS taxonomy element references\n\nEach IFRS taxonomy element contains at least one cross-reference to an AASB Standard (that incorporates IFRS 17 Standards as issued and amended by the International Accounting Standards Board (IASB)) and has a reference type that can be used to identify the source of that element. The IFRS Taxonomy uses the following element reference types:\n\n(b) example—an element of this type represents an example provided in an IFRS/AASB Standard or its accompanying materials; and\n\n(c) common practice—an element of this type reflects common reporting practice within IFRS/AASB financial statements they not specifically mentioned in IFRS/AASB Standards or their accompanying materials, but are consistent with IFRS/AASB Standards. They have been found to be frequently disclosed across a range of companies and accounting jurisdictions.\n\n","sortOrder":19},{"sectionNumber":"21","sectionType":"section","heading":"Assets for insurance acquisition cash flows","content":"## Assets for insurance acquisition cash fl Assets for insurance acquisition cash flows\n\nAny assets recognised for insurance acquisition cash flows paid under AASB 17.28B (pre-coverage or relating to renewals) are included as part of the carrying amount of the related portfolios of insurance contracts issued (in accordance with AASB 17.79). Similarly, any assets or liabilities for cash flows related to portfolios of reinsurance contracts held are reported in accordance with AASB 17.79.\n\n","sortOrder":20},{"sectionNumber":"22","sectionType":"section","heading":"Reporting directions for life insurers","content":"## Reporting directions for life insurers Reporting directions for life insurers\n\nFor APRA reporting, life insurers must also meet the relevant policy liability valuation requirements outlined in the Prudential Standard LPS 340 Valuation of Policy Liabilities (LPS 340).\n\n","sortOrder":21},{"sectionNumber":"23","sectionType":"section","heading":"Definitions","content":"## Definitions Definitions\n\n","sortOrder":22},{"sectionNumber":"24","sectionType":"section","heading":"Specific instructions","content":"## Specific instructions Specific instructions\n\nThese instructions assist completion of the Reporting Standard LRS 300.0 Statement of Financial Position (Individual statutory fund, Licensed insurer and statutory fund eliminations). The report collects information relating to the licensed insurer’s statement of financial position.\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\nIn completing the reporting standards, unless otherwise stated specifically, reporting life companies are to follow the basis consistent with the relevant Australian Accounting Standards. In particular, appropriate consideration must be given to the interpretation, the basis for measurement, and the netting between revenues/expenses items and financial assets/liabilities.\n\nEach item reported under this Reporting Standard aligns with the Accounting Standards made by the Australian Accounting Standards Board (AASB). The applicable AASB references are specified with each item. AASB reference provides a written description of the accounting meaning of an IFRS Taxonomy element.\n\nEach IFRS taxonomy element contains at least one cross-reference to an AASB Standard (that incorporates IFRS 17 Standards as issued and amended by the International Accounting Standards Board (IASB)) and has a reference type that can be used to identify the source of that element. The IFRS Taxonomy uses the following element reference types:\n\n(b) example—an element of this type represents an example provided in an IFRS/AASB Standard or its accompanying materials; and\n\n(c) common practice—an element of this type reflects common reporting practice within IFRS/AASB financial statements they not specifically mentioned in IFRS/AASB Standards or their accompanying materials, but are consistent with IFRS/AASB Standards. They have been found to be frequently disclosed across a range of companies and accounting jurisdictions.\n\nAny assets recognised for insurance acquisition cash flows paid under AASB 17.28B (pre-coverage or relating to renewals) are included as part of the carrying amount of the related portfolios of insurance contracts issued (in accordance with AASB 17.79). Similarly, any assets or liabilities for cash flows related to portfolios of reinsurance contracts held are reported in accordance with AASB 17.79.\n\nFor APRA reporting, life insurers must also meet the relevant policy liability valuation requirements outlined in the Prudential Standard LPS 340 Valuation of Policy Liabilities (LPS 340).\n\n##   \n\nInformation in this Reporting Standard is to be completed by life insurers including friendly societies (together referred to as life companies) for each reporting period on statutory fund (approved benefit fund for a friendly society), licensed insurer (LI) and statutory fund eliminations bases.\n\nLRS 300.0 – Statutory fund (Table 1) data must be submitted for each statutory fund (approved benefit fund for a friendly society) separately for each reporting period.\n\nLRS 300.0 – LI (Table 2) data must be submitted for the sum of individual statutory funds, the sum of statutory fund eliminations, the general fund, and if applicable the general fund eliminations for each reporting period. The term, ‘general fund’ has been used to refer to the shareholders’ fund of a life company other than a friendly society or the management fund of a friendly society.\n\nThe expressions Australian Business and Overseas Business refer to the territories where the life insurance business is carried on.\n\nThis section is also to be completed for each participating and non-participating business. The expressions participating business and non-participating business are defined in the Life Act.\n\nConvert amounts denominated in foreign currency to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates.\n\n| Statutory fund (Table 1): Column 1 | Report the total amount for Australian business for the individual statutory fund.                                                                         |\n| ---------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Statutory fund (Table 1):Column 2  | Report the total amount for overseas business for the individual statutory fund.                                                                           |\n| Statutory fund (Table 1):Column 3  | Column 3 ‘Total business’ is a derived column and is calculated as the sum of column 1 and column 2.                                                       |\n| LI (Table 2):Column 1              | Report the total amounts for Australian business before statutory fund eliminations representing the sum of individual statutory funds in positive values. |\n| LI (Table 2):Column 2              | Report the total amounts for overseas business before statutory fund eliminations representing the sum of individual statutory funds in positive values.   |\n| LI (Table 2):Column 3              | Column 3 ‘Total business before statutory fund eliminations’ is a derived column and is calculated as the sum of columns 1 and 2.                          |\n| LI (Table 2):Column 4              | Report the total amounts for Australian business statutory fund eliminations in negative values.                                                           |\n| LI (Table 2):Column 5              | Report the total amounts for overseas business statutory fund eliminations in negative values.                                                             |\n| LI (Table 2):Column 6              | Column 6 ‘Total business’ is a derived column and is calculated as the sum of columns 4 and 5.                                                             |\n| LI (Table 2):Column 7              | Column 7 ‘Australian business after statutory fund eliminations’ is a derived column and is calculated as the sum of columns 1 and 4.                      |\n| LI (Table 2):Column 8              | Column 8 ‘Overseas business after statutory fund eliminations’ is a derived column and is calculated as the sum of columns 2 and 5.                        |\n| LI (Table 2):Column 9              | Column 9 ‘Total business (after statutory fund eliminations)’ is a derived column and is calculated as the sum of columns 7 and 8.                         |\n| LI (Table 2):Column 10             | Report the amount for the general fund in positive values.                                                                                                 |\n| LI (Table 2):Column 11             | Report the amount for general fund eliminations in negative values.                                                                                        |\n| LI (Table 2):Column 12             | Column 12 ‘Total entity’ is a derived column and is calculated as the sum of columns 9, 10 and 11.                                                         |\n\n| Item 1   | Item 1 total cash and cash equivalents, is a derived item calculated as the sum of item 1.1 and item 1.2.Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6. |\n| -------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 1.1 | Report cash.Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6.                                                                                              |\n| Item 1.2 | Report cash equivalents.Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6.                                                                                  |\n\n| Item 2   | Item 2 total receivables, is a derived item calculated as the sum of items 2.1 to 2.3 inclusive.This item is based on AASB 101.54 (h) Disclosure and AASB 101.78 (b) Disclosure. |\n| -------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 2.1 | Report accrued income receivable.Report this item in accordance with AASB 101.78 (b) Common practice.                                                                            |\n| Item 2.2 | Report prepayments.Report this item in accordance with AASB 101.78 (b) Example.                                                                                                  |\n| Item 2.3 | Report other receivables.Report this item in accordance with AASB 101.78 (b) Example. Lessors report finance lease receivables at this item.                                     |\n\n| Item 4   | Item 4 total deferred tax assets, is a derived item calculated as the sum of item 4.1 and item 4.2.Report this item in accordance with AASB 101.54 (o) Disclosure, AASB 112.5, AASB 112.81 (g) (i) Disclosure and AASB 101.56 Disclosure.                                                                                                                                   |\n| -------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 4.1 | Report unused tax losses.Report this item in accordance with AASB 112.81 (g) Disclosure.Report this amount on an annual basis per that disclosed in the insurer’s yearly statutory accounts. For the quarterly returns (not the annual return), when the insurer does not have sufficient information to report a split, report this in item 4.2 Other deferred tax assets. |\n| Item 4.2 | Report other deferred tax assets.Report this item in accordance with AASB 112.5 and AASB 112.81 (g) Common practice.For the quarterly returns (not the annual return), when the insurer does not have sufficient information to report total deferred tax assets split between items 4.1 and 4.2, report total deferred tax assets here.                                    |\n\n| Item 5       | Item 5 other assets, is a derived item calculated as the sum of item 5.1 and item 5.2.Report this item in accordance with AASB 101.54 (d) Disclosure.                                                                                    |\n| ------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 5.1     | Item 5.1 other financial assets, is a derived item and is calculated as the sum of items 5.1.1 to 5.1.6 inclusive.Report this item in accordance with AASB 132.11 and AASB 101.54 (d) Disclosure.                                        |\n| Item 5.1.1   | Report investments.Report investment balances that are not reported elsewhere in this Reporting Standard.Report this item in accordance with AASB 101.55 Common practice.                                                                |\n| Item 5.1.2   | Report derivative financial instruments. Report this item in accordance with AASB 101.55 Common practice and AASB 9 Appendix A.                                                                                                          |\n| Item 5.1.3   | Report securities purchased under agreement to resell.Report this item in accordance with AASB 101.55 Common practice, AASB 9.3.2.15, AASB 9.3.2.23 (a), AASB 9.B3.2.16 (a)–(c), AASB 7.14, AASB 7.15 and AASB 7.42D (a)–(c) Disclosure. |\n| Item 5.1.4   | Report equities/unit trusts.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                                             |\n| Item 5.1.5   | Item 5.1.5 is total debt instruments held - non-indexed IBS and indexed IBS a derived item and is calculated as the sum of item 5.1.5.1 and item 5.1.5.2.Report this item in accordance with AASB 101.55 Common practice.                |\n| Item 5.1.5.1 | Report non-indexed interest-bearing securities (IBS).Report this item in accordance with AASB 101.55 Common practice.                                                                                                                    |\n| Item 5.1.5.2 | Report indexed IBS.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                                                      |\n| Item 5.1.6   | Report other financial assets – other.Report this item in accordance with AASB 101.54 (d) Disclosure.                                                                                                                                    |\n| Item 5.2     | Item 5.2 is other non-financial assets, a derived item calculated as the sum of item 5.2.1 and item 5.2.2.Report this item in accordance with AASB 101.55 Common practice.                                                               |\n| Item 5.2.1   | Report net defined benefit asset.Report this item in accordance with AASB 119.8 and AASB 119.63.                                                                                                                                         |\n| Item 5.2.2   | Report other non-financial assets – other.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                               |\n\n| Item 6 | Report total non-current assets and disposal groups classified as held for sale.Report this item in accordance with AASB 101.54 (j) Disclosure, AASB 5 Appendix A and AASB 5.6. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 7   | Item 7 insurance contract assets, is a derived item calculated as the sum of item 7.1 and item 7.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a), AASB 17.100 Disclosure and AASB 101.54 (da).                                                                                        |\n| -------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 7.1 | Report assets for incurred claims (being the asset equivalent of the liabilities for incurred claims) that are presented as insurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (da) Disclosure.           |\n| Item 7.2 | Report assets for remaining coverage (being the asset equivalent of the liabilities for remaining coverage) that are presented as insurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (da) Disclosure. |\n\n| Item 8   | Item 8 reinsurance contract assets, is a derived item calculated as the sum of item 8.1 and item 8.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c), AASB 17.100 Disclosure and AASB 101.54 (da).                 |\n| -------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 8.1 | Report assets for incurred claims that are presented as reinsurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (da) Disclosure.        |\n| Item 8.2 | Report assets for remaining coverage that are presented as reinsurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (da) Disclosure. |\n\n| Item 9   | Item 9 total investments accounted for using the equity method, is a derived item calculated as the sum of item 9.1 and item 9.2.Report this item in accordance with AASB 128.3, AASB 12.B16 Disclosure, AASB 101.54 (e) Disclosure and AASB 8.24 (a) Disclosure. |\n| -------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 9.1 | Report investments in associates accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.16.                                                                                               |\n| Item 9.2 | Report investments in joint ventures accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.16.                                                                                           |\n\n| Item 10   | Item 10 investments in subsidiaries, joint ventures and associates not accounted for using the equity method, is a derived item calculated as the sum of items 10.1 to 10.3 inclusive.Report this item in accordance with AASB 127.10 Disclosure, AASB 10 Appendix A and AASB 128.3. |\n| --------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Item 10.1 | Report investments in subsidiaries not accounted for using the equity method.Report this item in accordance with AASB 10 Appendix A and AASB 127.10 Disclosure.                                                                                                                      |\n| Item 10.2 | Report investments in associates not accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.17-19.                                                                                                           |\n| Item 10.3 | Report investments in joint ventures not accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.17-19.                                                                                                       |\n\n| Item 11   | Item 11 property, plant and equipment net of depreciation / impairment is a derived item calculated as item 11.1 less item 11.2.Report this item in accordance with AASB 116.6, AASB 116.73 (e) Disclosure and AASB 101.54 (a) Disclosure. |\n| --------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Item 11.1 | Report property, plant and equipment – gross carrying amount.Report this item in accordance with AASB 116.6 and AASB 116.73 (d) Disclosure.                                                                                                |\n| Item 11.2 | Report property, plant and equipment – accumulated depreciation.Report this item in accordance with AASB 116.75 (b) Disclosure and AASB 116.73 (d) Common practice.                                                                        |\n\n| Item 12 | Report total investment property.Report this item in accordance with AASB 101.54 (b) Disclosure, AASB 140.5, AASB 140.79 (d) Disclosure and AASB 140.76 Disclosure. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 14     | Item 14 is total intangible assets and goodwill, a derived item calculated as the sum of item 14.1 and item 14.2 less item 14.3.Report this item in accordance with AASB 3 Appendix A, AASB 138.8 and AASB 138.118 Common practice. |\n| ----------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 14.1   | Report goodwill.Report this item in accordance with AASB 3 Appendix A, AASB 136.135 (a) Disclosure, AASB 136.134 (a) Disclosure, AASB 3.B67 (d) Disclosure and AASB 101.54 (c) Disclosure.                                          |\n| Item 14.2   | Item 14.2 is intangible assets other than goodwill, a derived item calculated as the sum of item 14.2.1 and item 14.2.2.Report this item in accordance with AASB 138.8, AASB 101.54 (c) Disclosure and AASB 138.118 (e) Disclosure. |\n| Item 14.2.1 | Report intangible assets with a finite life.Report this item in accordance with AASB 138.8, AASB 136.135 (b) Disclosure, AASB 138.122 (a) Disclosure and AASB 136.134 (b) Disclosure.                                               |\n| Item 14.2.2 | Report intangible assets with an indefinite life.Report this item in accordance with AASB 138.8, AASB 136.135 (b) Disclosure, AASB 138.122 (a) Disclosure and AASB 136.134 (b) Disclosure.                                          |\n| Item 14.3   | Report total accumulated amortisation and impairment of intangible assets and goodwill.Report this item in accordance with AASB 138.8, AASB 138.118 (c) Disclosure and AASB 3 Appendix A.                                           |\n\n| Item 15 | Item 15 total assets, is a derived item calculated as the sum of items 1 to 14 inclusive.Report this item in accordance with AASB 101.55 Disclosure. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 16   | Item 16 total payables, is a derived item calculated as the sum of items 16.1 to 16.3 inclusive.Report this item in accordance with AASB 101.54 (k) Disclosure. |\n| --------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 16.1 | Report accrued expenses.Report this item in accordance with AASB 101.55 Common practice.                                                                        |\n| Item 16.2 | Report dividends payable.                                                                                                                                       |\n| Item 16.3 | Report other payables.Report this item in accordance with AASB 101.55 Common practice.                                                                          |\n\n| Item 18   | Item 18 insurance contract liabilities, is a derived item calculated as the sum of item 18.1 and item 18.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b), AASB 17.100 Disclosure and AASB 101.54 (ma).                   |\n| --------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 18.1 | Report liabilities for incurred claims that are presented as insurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (ma) Disclosure.        |\n| Item 18.2 | Report liabilities for remaining coverage that are presented as insurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (ma) Disclosure. |\n\n| Item 19   | Item 19 is reinsurance contract liabilities, a derived item and is calculated as the sum of item 19.1 and item 19.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d), AASB 17.100 Disclosure and AASB 101.54 (ma).                                                                              |\n| --------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 19.1 | Report liabilities for incurred claims (being the liability equivalent of the assets for incurred claims) that are presented as reinsurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (ma) Disclosure.       |\n| Item 19.2 | Report liabilities for remaining coverage (being the liability equivalent of assets for remaining coverage) that are presented as reinsurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (ma) Disclosure. |\n\n| Item 21       | Item 21 other liabilities, is a derived item calculated as the sum of item 21.1 other financial liabilities and item 21.2 other non-financial liabilities.                                                |\n| ------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 21.1     | Item 21.1 other financial liabilities, is a derived item and is calculated as the sum of items 21.1.1 to 21.1.9 inclusive.Report this item in accordance with AASB 132.11 and AASB 101.54 (m) Disclosure. |\n| Item 21.1.1   | Report overdrafts.Report this item in accordance with AASB 107.45 Common practice                                                                                                                         |\n| Item 21.1.2   | Report securities issued (e.g. promissory notes/commercial paper).Report this item in accordance with AASB 101.55 Common practice.                                                                        |\n| Item 21.1.3   | Item 21.1.3 term loans, is a derived item. Report item 21.1.3 as the sum of item 21.1.3.1 and item 21.1.3.2.Report this item in accordance with AASB 101.112 (c) Common practice.                         |\n| Item 21.1.3.1 | Report term loans with a variable interest rate.Report this item in accordance with AASB 7.39 Common practice.                                                                                            |\n| Item 21.1.3.2 | Report term loans with a fixed interest rate.Report this item in accordance with AASB 7.39 Common practice.                                                                                               |\n| Item 21.1.4   | Report total borrowings.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                  |\n| Item 21.1.5   | Report securities sold under agreements to repurchase.Report this item in accordance with AASB 101.55 Common practice.                                                                                    |\n| Item 21.1.6   | Report derivative financial instruments.Report this item in accordance with AASB 101.55 Common practice and AASB 9 Appendix A.                                                                            |\n| Item 21.1.7   | Report loan capital.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                      |\n| Item 21.1.8   | Report hybrid securities.Report this item in accordance with AASB 101.106 (d) Common practice.                                                                                                            |\n| Item 21.1.9   | Report other financial liabilities - other.Report this item in accordance with AASB 132.11 and AASB 101.55 Common practice.                                                                               |\n| Item 21.2     | Item 21.2 other non-financial liabilities is a derived item. Report item 21.2 as the sum of item 21.2.1 and item 21.2.2.                                                                                  |\n| Item 21.2.1   | Report net defined benefit liability.Report this item in accordance with AASB 119.8 and AASB 119.63.                                                                                                      |\n| Item 21.2.2   | Report other non-financial liabilities – other.Report this item in accordance with AASB 101.55 Common practice.                                                                                           |\n\n| Item 22 | Report current tax liabilities.Report this item in accordance with AASB 112.5 and AASB 101.54 (n) Disclosure. |\n| ------- | ------------------------------------------------------------------------------------------------------------- |\n\n| Item 23 | Report deferred tax liabilities.Report this item in accordance with AASB 112.5, AASB 101.54 (o) Disclosure, AASB 112.81 (g) (i) Disclosure and AASB 101.56 Disclosure. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 24   | Item 24, provisions, is a derived item and is calculated as the sum of items 24.1 to 24.3 inclusive.Report this item in accordance with AASB 137.10, AASB 137.84 (a) Disclosure and AASB 101.78 (d) Disclosure. |\n| --------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 24.1 | Report provisions for restructuring costs.Report this item in accordance with AASB 137.10 and AASB 137.70 Example.                                                                                              |\n| Item 24.2 | Report provisions for employee entitlements.Report this item in accordance with AASB 137.10 and AASB 101.78 (d) Disclosure.                                                                                     |\n| Item 24.3 | Report any other provisions not reported in items 24.1 – 24.3 inclusive.Report this item in accordance with AASB 137.10, AASB 137.84 (a) Disclosure and AASB 101.78 (d) Disclosure.                             |\n\n| Item 25 | Report liabilities included in disposal groups classified as held for sale.Report this item in accordance with AASB 5 Appendix A, AASB 101.54 (p) Disclosure and AASB 5.38 Disclosure. |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 26 | Item 26 is total liabilities, a derived item calculated as the sum of items 16 to 25 inclusive.Report this item in accordance with AASB 101.55 Disclosure. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 27 | Item 27 is net assets, a derived item calculated as item 15 less item 26.Report this item in accordance with AASB 101.112 (c) Common practice and AASB 1.IG63 Example. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 28       | Item 28 is total equity, a derived item calculated as the sum of items 28.1 to 28.3 inclusive.Report this item in accordance with AASB 101.55 Disclosure and AASB 101.78 (e) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                      |\n| ------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 28.1     | Item 28.1 total issued capital is a derived item calculated as the sum of items 28.1.1 to 28.1.3.Report this item in accordance with AASB 101.78 (e) Example.                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |\n| Item 28.1.1   | Report ordinary shares.Report this item in accordance with AASB 133.5 and AASB 101.79 (a) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |\n| Item 28.1.2   | Report preference shares.Report this item in accordance with AASB 101.79 (a) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |\n| Item 28.1.3   | Report other issued capital.Report this item in accordance with AASB 101.79 (a) Disclosure.Report mutual equity interests at this item.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |\n| Item 28.2     | Item 28.2 total reserves is a derived item calculated as the sum of items 28.2.1 to 28.2.10 inclusive.Report this item in accordance with AASB 101.78 (e) Example.                                                                                                                                                                                                                                                                                                                                                                                                                                                            |\n| Item 28.2.1   | Report general reserves.Report this item in accordance with AASB 101.106 Disclosure and AASB 101.79 (b) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |\n| Item 28.2.2   | Report capital profits reserves.Report this item in accordance with AASB 101.108 Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |\n| Item 28.2.3   | Item 28.2.3 total asset revaluation reserves is a derived item calculated as the sum of item 28.2.3.1 and item 28.2.3.2.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |\n| Item 28.2.3.1 | Report asset revaluation reserves for property, plant and equipment.Report this item in accordance with AASB 101.108, AASB 16.39 and AASB 116.77 (f) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                              |\n| Item 28.2.3.2 | Report asset revaluation reserves for intangibles.Report this item in accordance with AASB 138.124 (b) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |\n| Item 28.2.4   | Report foreign currency translation reserves.Report this item in accordance with AASB 101.78 (e) Common practice, AASB 101.108 and AASB 121.52 (b).                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |\n| Item 28.2.5   | Report cash flow hedge reserves.Report this item in accordance with AASB 101.78 (e) and AASB 9.6.5.11 Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |\n| Item 28.2.6   | Report share-based payment reserves.Report this item in accordance with AASB 101.78 (e) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |\n| Item 28.2.7   | Report financial assets at FVOCI.Report this item in accordance with AASB 101.78 (e) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |\n| Item 28.2.8   | Report cost of hedging reserves.Report this item in accordance with AASB 101.108 Example and AASB 9.6.5.16 Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |\n| Item 28.2.9   | Report insurance/reinsurance finance reserve.Insurance finance reserve represents the reserve of insurance finance income (expenses) from insurance contracts issued excluded from profit or loss. Reinsurance finance reserve represents the reserve of finance income (expenses) from reinsurance contracts held.Report the amount of insurance finance expense or income recognised in other comprehensive income where the entity chooses the accounting policy set out in AASB 17.88(b) or AASB 17.89(b).Report this item in accordance with AASB 101.54 (r) Disclosure, 101.78 (e) Disclosure and AASB 101.108 Example. |\n| Item 28.2.10  | Report other reserves.Report this item in accordance with AASB 101.106 Disclosure and AASB 101.79 (b) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |\n| Item 28.3     | Report retained earnings.Report this item in accordance with AASB 101.IG6 Example and AASB 101.78 (e) Example.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |\n|               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |\n\n","sortOrder":23},{"sectionNumber":"25","sectionType":"section","heading":"Reporting basis","content":"## Reporting basis Reporting basis\n\nInformation in this Reporting Standard is to be completed by life insurers including friendly societies (together referred to as life companies) for each reporting period on statutory fund (approved benefit fund for a friendly society), licensed insurer (LI) and statutory fund eliminations bases.\n\nLRS 300.0 – Statutory fund (Table 1) data must be submitted for each statutory fund (approved benefit fund for a friendly society) separately for each reporting period.\n\nLRS 300.0 – LI (Table 2) data must be submitted for the sum of individual statutory funds, the sum of statutory fund eliminations, the general fund, and if applicable the general fund eliminations for each reporting period. The term, ‘general fund’ has been used to refer to the shareholders’ fund of a life company other than a friendly society or the management fund of a friendly society.\n\n","sortOrder":24},{"sectionNumber":"26","sectionType":"section","heading":"APRA class of business","content":"## APRA class of business APRA class of business\n\n","sortOrder":25},{"sectionNumber":"27","sectionType":"section","heading":"Australia — Ordinary Business","content":"##  Australia — Ordinary Business  Australia — Ordinary Business\n\nThese instructions assist completion of the Reporting Standard LRS 300.0 Statement of Financial Position (Individual statutory fund, Licensed insurer and statutory fund eliminations). The report collects information relating to the licensed insurer’s statement of financial position.\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\nIn completing the reporting standards, unless otherwise stated specifically, reporting life companies are to follow the basis consistent with the relevant Australian Accounting Standards. In particular, appropriate consideration must be given to the interpretation, the basis for measurement, and the netting between revenues/expenses items and financial assets/liabilities.\n\nEach item reported under this Reporting Standard aligns with the Accounting Standards made by the Australian Accounting Standards Board (AASB). The applicable AASB references are specified with each item. AASB reference provides a written description of the accounting meaning of an IFRS Taxonomy element.\n\nEach IFRS taxonomy element contains at least one cross-reference to an AASB Standard (that incorporates IFRS 17 Standards as issued and amended by the International Accounting Standards Board (IASB)) and has a reference type that can be used to identify the source of that element. The IFRS Taxonomy uses the following element reference types:\n\n(b) example—an element of this type represents an example provided in an IFRS/AASB Standard or its accompanying materials; and\n\n(c) common practice—an element of this type reflects common reporting practice within IFRS/AASB financial statements they not specifically mentioned in IFRS/AASB Standards or their accompanying materials, but are consistent with IFRS/AASB Standards. They have been found to be frequently disclosed across a range of companies and accounting jurisdictions.\n\nAny assets recognised for insurance acquisition cash flows paid under AASB 17.28B (pre-coverage or relating to renewals) are included as part of the carrying amount of the related portfolios of insurance contracts issued (in accordance with AASB 17.79). Similarly, any assets or liabilities for cash flows related to portfolios of reinsurance contracts held are reported in accordance with AASB 17.79.\n\nFor APRA reporting, life insurers must also meet the relevant policy liability valuation requirements outlined in the Prudential Standard LPS 340 Valuation of Policy Liabilities (LPS 340).\n\n##   \n\nInformation in this Reporting Standard is to be completed by life insurers including friendly societies (together referred to as life companies) for each reporting period on statutory fund (approved benefit fund for a friendly society), licensed insurer (LI) and statutory fund eliminations bases.\n\nLRS 300.0 – Statutory fund (Table 1) data must be submitted for each statutory fund (approved benefit fund for a friendly society) separately for each reporting period.\n\nLRS 300.0 – LI (Table 2) data must be submitted for the sum of individual statutory funds, the sum of statutory fund eliminations, the general fund, and if applicable the general fund eliminations for each reporting period. The term, ‘general fund’ has been used to refer to the shareholders’ fund of a life company other than a friendly society or the management fund of a friendly society.\n\nThe expressions Australian Business and Overseas Business refer to the territories where the life insurance business is carried on.\n\nThis section is also to be completed for each participating and non-participating business. The expressions participating business and non-participating business are defined in the Life Act.\n\nConvert amounts denominated in foreign currency to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates.\n\n| Statutory fund (Table 1): Column 1 | Report the total amount for Australian business for the individual statutory fund.                                                                         |\n| ---------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Statutory fund (Table 1):Column 2  | Report the total amount for overseas business for the individual statutory fund.                                                                           |\n| Statutory fund (Table 1):Column 3  | Column 3 ‘Total business’ is a derived column and is calculated as the sum of column 1 and column 2.                                                       |\n| LI (Table 2):Column 1              | Report the total amounts for Australian business before statutory fund eliminations representing the sum of individual statutory funds in positive values. |\n| LI (Table 2):Column 2              | Report the total amounts for overseas business before statutory fund eliminations representing the sum of individual statutory funds in positive values.   |\n| LI (Table 2):Column 3              | Column 3 ‘Total business before statutory fund eliminations’ is a derived column and is calculated as the sum of columns 1 and 2.                          |\n| LI (Table 2):Column 4              | Report the total amounts for Australian business statutory fund eliminations in negative values.                                                           |\n| LI (Table 2):Column 5              | Report the total amounts for overseas business statutory fund eliminations in negative values.                                                             |\n| LI (Table 2):Column 6              | Column 6 ‘Total business’ is a derived column and is calculated as the sum of columns 4 and 5.                                                             |\n| LI (Table 2):Column 7              | Column 7 ‘Australian business after statutory fund eliminations’ is a derived column and is calculated as the sum of columns 1 and 4.                      |\n| LI (Table 2):Column 8              | Column 8 ‘Overseas business after statutory fund eliminations’ is a derived column and is calculated as the sum of columns 2 and 5.                        |\n| LI (Table 2):Column 9              | Column 9 ‘Total business (after statutory fund eliminations)’ is a derived column and is calculated as the sum of columns 7 and 8.                         |\n| LI (Table 2):Column 10             | Report the amount for the general fund in positive values.                                                                                                 |\n| LI (Table 2):Column 11             | Report the amount for general fund eliminations in negative values.                                                                                        |\n| LI (Table 2):Column 12             | Column 12 ‘Total entity’ is a derived column and is calculated as the sum of columns 9, 10 and 11.                                                         |\n\n| Item 1   | Item 1 total cash and cash equivalents, is a derived item calculated as the sum of item 1.1 and item 1.2.Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6. |\n| -------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 1.1 | Report cash.Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6.                                                                                              |\n| Item 1.2 | Report cash equivalents.Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6.                                                                                  |\n\n| Item 2   | Item 2 total receivables, is a derived item calculated as the sum of items 2.1 to 2.3 inclusive.This item is based on AASB 101.54 (h) Disclosure and AASB 101.78 (b) Disclosure. |\n| -------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 2.1 | Report accrued income receivable.Report this item in accordance with AASB 101.78 (b) Common practice.                                                                            |\n| Item 2.2 | Report prepayments.Report this item in accordance with AASB 101.78 (b) Example.                                                                                                  |\n| Item 2.3 | Report other receivables.Report this item in accordance with AASB 101.78 (b) Example. Lessors report finance lease receivables at this item.                                     |\n\n| Item 4   | Item 4 total deferred tax assets, is a derived item calculated as the sum of item 4.1 and item 4.2.Report this item in accordance with AASB 101.54 (o) Disclosure, AASB 112.5, AASB 112.81 (g) (i) Disclosure and AASB 101.56 Disclosure.                                                                                                                                   |\n| -------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 4.1 | Report unused tax losses.Report this item in accordance with AASB 112.81 (g) Disclosure.Report this amount on an annual basis per that disclosed in the insurer’s yearly statutory accounts. For the quarterly returns (not the annual return), when the insurer does not have sufficient information to report a split, report this in item 4.2 Other deferred tax assets. |\n| Item 4.2 | Report other deferred tax assets.Report this item in accordance with AASB 112.5 and AASB 112.81 (g) Common practice.For the quarterly returns (not the annual return), when the insurer does not have sufficient information to report total deferred tax assets split between items 4.1 and 4.2, report total deferred tax assets here.                                    |\n\n| Item 5       | Item 5 other assets, is a derived item calculated as the sum of item 5.1 and item 5.2.Report this item in accordance with AASB 101.54 (d) Disclosure.                                                                                    |\n| ------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 5.1     | Item 5.1 other financial assets, is a derived item and is calculated as the sum of items 5.1.1 to 5.1.6 inclusive.Report this item in accordance with AASB 132.11 and AASB 101.54 (d) Disclosure.                                        |\n| Item 5.1.1   | Report investments.Report investment balances that are not reported elsewhere in this Reporting Standard.Report this item in accordance with AASB 101.55 Common practice.                                                                |\n| Item 5.1.2   | Report derivative financial instruments. Report this item in accordance with AASB 101.55 Common practice and AASB 9 Appendix A.                                                                                                          |\n| Item 5.1.3   | Report securities purchased under agreement to resell.Report this item in accordance with AASB 101.55 Common practice, AASB 9.3.2.15, AASB 9.3.2.23 (a), AASB 9.B3.2.16 (a)–(c), AASB 7.14, AASB 7.15 and AASB 7.42D (a)–(c) Disclosure. |\n| Item 5.1.4   | Report equities/unit trusts.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                                             |\n| Item 5.1.5   | Item 5.1.5 is total debt instruments held - non-indexed IBS and indexed IBS a derived item and is calculated as the sum of item 5.1.5.1 and item 5.1.5.2.Report this item in accordance with AASB 101.55 Common practice.                |\n| Item 5.1.5.1 | Report non-indexed interest-bearing securities (IBS).Report this item in accordance with AASB 101.55 Common practice.                                                                                                                    |\n| Item 5.1.5.2 | Report indexed IBS.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                                                      |\n| Item 5.1.6   | Report other financial assets – other.Report this item in accordance with AASB 101.54 (d) Disclosure.                                                                                                                                    |\n| Item 5.2     | Item 5.2 is other non-financial assets, a derived item calculated as the sum of item 5.2.1 and item 5.2.2.Report this item in accordance with AASB 101.55 Common practice.                                                               |\n| Item 5.2.1   | Report net defined benefit asset.Report this item in accordance with AASB 119.8 and AASB 119.63.                                                                                                                                         |\n| Item 5.2.2   | Report other non-financial assets – other.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                               |\n\n| Item 6 | Report total non-current assets and disposal groups classified as held for sale.Report this item in accordance with AASB 101.54 (j) Disclosure, AASB 5 Appendix A and AASB 5.6. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 7   | Item 7 insurance contract assets, is a derived item calculated as the sum of item 7.1 and item 7.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a), AASB 17.100 Disclosure and AASB 101.54 (da).                                                                                        |\n| -------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 7.1 | Report assets for incurred claims (being the asset equivalent of the liabilities for incurred claims) that are presented as insurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (da) Disclosure.           |\n| Item 7.2 | Report assets for remaining coverage (being the asset equivalent of the liabilities for remaining coverage) that are presented as insurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (da) Disclosure. |\n\n| Item 8   | Item 8 reinsurance contract assets, is a derived item calculated as the sum of item 8.1 and item 8.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c), AASB 17.100 Disclosure and AASB 101.54 (da).                 |\n| -------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 8.1 | Report assets for incurred claims that are presented as reinsurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (da) Disclosure.        |\n| Item 8.2 | Report assets for remaining coverage that are presented as reinsurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (da) Disclosure. |\n\n| Item 9   | Item 9 total investments accounted for using the equity method, is a derived item calculated as the sum of item 9.1 and item 9.2.Report this item in accordance with AASB 128.3, AASB 12.B16 Disclosure, AASB 101.54 (e) Disclosure and AASB 8.24 (a) Disclosure. |\n| -------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 9.1 | Report investments in associates accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.16.                                                                                               |\n| Item 9.2 | Report investments in joint ventures accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.16.                                                                                           |\n\n| Item 10   | Item 10 investments in subsidiaries, joint ventures and associates not accounted for using the equity method, is a derived item calculated as the sum of items 10.1 to 10.3 inclusive.Report this item in accordance with AASB 127.10 Disclosure, AASB 10 Appendix A and AASB 128.3. |\n| --------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Item 10.1 | Report investments in subsidiaries not accounted for using the equity method.Report this item in accordance with AASB 10 Appendix A and AASB 127.10 Disclosure.                                                                                                                      |\n| Item 10.2 | Report investments in associates not accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.17-19.                                                                                                           |\n| Item 10.3 | Report investments in joint ventures not accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.17-19.                                                                                                       |\n\n| Item 11   | Item 11 property, plant and equipment net of depreciation / impairment is a derived item calculated as item 11.1 less item 11.2.Report this item in accordance with AASB 116.6, AASB 116.73 (e) Disclosure and AASB 101.54 (a) Disclosure. |\n| --------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Item 11.1 | Report property, plant and equipment – gross carrying amount.Report this item in accordance with AASB 116.6 and AASB 116.73 (d) Disclosure.                                                                                                |\n| Item 11.2 | Report property, plant and equipment – accumulated depreciation.Report this item in accordance with AASB 116.75 (b) Disclosure and AASB 116.73 (d) Common practice.                                                                        |\n\n| Item 12 | Report total investment property.Report this item in accordance with AASB 101.54 (b) Disclosure, AASB 140.5, AASB 140.79 (d) Disclosure and AASB 140.76 Disclosure. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 14     | Item 14 is total intangible assets and goodwill, a derived item calculated as the sum of item 14.1 and item 14.2 less item 14.3.Report this item in accordance with AASB 3 Appendix A, AASB 138.8 and AASB 138.118 Common practice. |\n| ----------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 14.1   | Report goodwill.Report this item in accordance with AASB 3 Appendix A, AASB 136.135 (a) Disclosure, AASB 136.134 (a) Disclosure, AASB 3.B67 (d) Disclosure and AASB 101.54 (c) Disclosure.                                          |\n| Item 14.2   | Item 14.2 is intangible assets other than goodwill, a derived item calculated as the sum of item 14.2.1 and item 14.2.2.Report this item in accordance with AASB 138.8, AASB 101.54 (c) Disclosure and AASB 138.118 (e) Disclosure. |\n| Item 14.2.1 | Report intangible assets with a finite life.Report this item in accordance with AASB 138.8, AASB 136.135 (b) Disclosure, AASB 138.122 (a) Disclosure and AASB 136.134 (b) Disclosure.                                               |\n| Item 14.2.2 | Report intangible assets with an indefinite life.Report this item in accordance with AASB 138.8, AASB 136.135 (b) Disclosure, AASB 138.122 (a) Disclosure and AASB 136.134 (b) Disclosure.                                          |\n| Item 14.3   | Report total accumulated amortisation and impairment of intangible assets and goodwill.Report this item in accordance with AASB 138.8, AASB 138.118 (c) Disclosure and AASB 3 Appendix A.                                           |\n\n| Item 15 | Item 15 total assets, is a derived item calculated as the sum of items 1 to 14 inclusive.Report this item in accordance with AASB 101.55 Disclosure. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 16   | Item 16 total payables, is a derived item calculated as the sum of items 16.1 to 16.3 inclusive.Report this item in accordance with AASB 101.54 (k) Disclosure. |\n| --------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 16.1 | Report accrued expenses.Report this item in accordance with AASB 101.55 Common practice.                                                                        |\n| Item 16.2 | Report dividends payable.                                                                                                                                       |\n| Item 16.3 | Report other payables.Report this item in accordance with AASB 101.55 Common practice.                                                                          |\n\n| Item 18   | Item 18 insurance contract liabilities, is a derived item calculated as the sum of item 18.1 and item 18.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b), AASB 17.100 Disclosure and AASB 101.54 (ma).                   |\n| --------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 18.1 | Report liabilities for incurred claims that are presented as insurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (ma) Disclosure.        |\n| Item 18.2 | Report liabilities for remaining coverage that are presented as insurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (ma) Disclosure. |\n\n| Item 19   | Item 19 is reinsurance contract liabilities, a derived item and is calculated as the sum of item 19.1 and item 19.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d), AASB 17.100 Disclosure and AASB 101.54 (ma).                                                                              |\n| --------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 19.1 | Report liabilities for incurred claims (being the liability equivalent of the assets for incurred claims) that are presented as reinsurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (ma) Disclosure.       |\n| Item 19.2 | Report liabilities for remaining coverage (being the liability equivalent of assets for remaining coverage) that are presented as reinsurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (ma) Disclosure. |\n\n| Item 21       | Item 21 other liabilities, is a derived item calculated as the sum of item 21.1 other financial liabilities and item 21.2 other non-financial liabilities.                                                |\n| ------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 21.1     | Item 21.1 other financial liabilities, is a derived item and is calculated as the sum of items 21.1.1 to 21.1.9 inclusive.Report this item in accordance with AASB 132.11 and AASB 101.54 (m) Disclosure. |\n| Item 21.1.1   | Report overdrafts.Report this item in accordance with AASB 107.45 Common practice                                                                                                                         |\n| Item 21.1.2   | Report securities issued (e.g. promissory notes/commercial paper).Report this item in accordance with AASB 101.55 Common practice.                                                                        |\n| Item 21.1.3   | Item 21.1.3 term loans, is a derived item. Report item 21.1.3 as the sum of item 21.1.3.1 and item 21.1.3.2.Report this item in accordance with AASB 101.112 (c) Common practice.                         |\n| Item 21.1.3.1 | Report term loans with a variable interest rate.Report this item in accordance with AASB 7.39 Common practice.                                                                                            |\n| Item 21.1.3.2 | Report term loans with a fixed interest rate.Report this item in accordance with AASB 7.39 Common practice.                                                                                               |\n| Item 21.1.4   | Report total borrowings.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                  |\n| Item 21.1.5   | Report securities sold under agreements to repurchase.Report this item in accordance with AASB 101.55 Common practice.                                                                                    |\n| Item 21.1.6   | Report derivative financial instruments.Report this item in accordance with AASB 101.55 Common practice and AASB 9 Appendix A.                                                                            |\n| Item 21.1.7   | Report loan capital.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                      |\n| Item 21.1.8   | Report hybrid securities.Report this item in accordance with AASB 101.106 (d) Common practice.                                                                                                            |\n| Item 21.1.9   | Report other financial liabilities - other.Report this item in accordance with AASB 132.11 and AASB 101.55 Common practice.                                                                               |\n| Item 21.2     | Item 21.2 other non-financial liabilities is a derived item. Report item 21.2 as the sum of item 21.2.1 and item 21.2.2.                                                                                  |\n| Item 21.2.1   | Report net defined benefit liability.Report this item in accordance with AASB 119.8 and AASB 119.63.                                                                                                      |\n| Item 21.2.2   | Report other non-financial liabilities – other.Report this item in accordance with AASB 101.55 Common practice.                                                                                           |\n\n| Item 22 | Report current tax liabilities.Report this item in accordance with AASB 112.5 and AASB 101.54 (n) Disclosure. |\n| ------- | ------------------------------------------------------------------------------------------------------------- |\n\n| Item 23 | Report deferred tax liabilities.Report this item in accordance with AASB 112.5, AASB 101.54 (o) Disclosure, AASB 112.81 (g) (i) Disclosure and AASB 101.56 Disclosure. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 24   | Item 24, provisions, is a derived item and is calculated as the sum of items 24.1 to 24.3 inclusive.Report this item in accordance with AASB 137.10, AASB 137.84 (a) Disclosure and AASB 101.78 (d) Disclosure. |\n| --------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 24.1 | Report provisions for restructuring costs.Report this item in accordance with AASB 137.10 and AASB 137.70 Example.                                                                                              |\n| Item 24.2 | Report provisions for employee entitlements.Report this item in accordance with AASB 137.10 and AASB 101.78 (d) Disclosure.                                                                                     |\n| Item 24.3 | Report any other provisions not reported in items 24.1 – 24.3 inclusive.Report this item in accordance with AASB 137.10, AASB 137.84 (a) Disclosure and AASB 101.78 (d) Disclosure.                             |\n\n| Item 25 | Report liabilities included in disposal groups classified as held for sale.Report this item in accordance with AASB 5 Appendix A, AASB 101.54 (p) Disclosure and AASB 5.38 Disclosure. |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 26 | Item 26 is total liabilities, a derived item calculated as the sum of items 16 to 25 inclusive.Report this item in accordance with AASB 101.55 Disclosure. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 27 | Item 27 is net assets, a derived item calculated as item 15 less item 26.Report this item in accordance with AASB 101.112 (c) Common practice and AASB 1.IG63 Example. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 28       | Item 28 is total equity, a derived item calculated as the sum of items 28.1 to 28.3 inclusive.Report this item in accordance with AASB 101.55 Disclosure and AASB 101.78 (e) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                      |\n| ------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 28.1     | Item 28.1 total issued capital is a derived item calculated as the sum of items 28.1.1 to 28.1.3.Report this item in accordance with AASB 101.78 (e) Example.                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |\n| Item 28.1.1   | Report ordinary shares.Report this item in accordance with AASB 133.5 and AASB 101.79 (a) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |\n| Item 28.1.2   | Report preference shares.Report this item in accordance with AASB 101.79 (a) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |\n| Item 28.1.3   | Report other issued capital.Report this item in accordance with AASB 101.79 (a) Disclosure.Report mutual equity interests at this item.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |\n| Item 28.2     | Item 28.2 total reserves is a derived item calculated as the sum of items 28.2.1 to 28.2.10 inclusive.Report this item in accordance with AASB 101.78 (e) Example.                                                                                                                                                                                                                                                                                                                                                                                                                                                            |\n| Item 28.2.1   | Report general reserves.Report this item in accordance with AASB 101.106 Disclosure and AASB 101.79 (b) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |\n| Item 28.2.2   | Report capital profits reserves.Report this item in accordance with AASB 101.108 Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |\n| Item 28.2.3   | Item 28.2.3 total asset revaluation reserves is a derived item calculated as the sum of item 28.2.3.1 and item 28.2.3.2.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |\n| Item 28.2.3.1 | Report asset revaluation reserves for property, plant and equipment.Report this item in accordance with AASB 101.108, AASB 16.39 and AASB 116.77 (f) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                              |\n| Item 28.2.3.2 | Report asset revaluation reserves for intangibles.Report this item in accordance with AASB 138.124 (b) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |\n| Item 28.2.4   | Report foreign currency translation reserves.Report this item in accordance with AASB 101.78 (e) Common practice, AASB 101.108 and AASB 121.52 (b).                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |\n| Item 28.2.5   | Report cash flow hedge reserves.Report this item in accordance with AASB 101.78 (e) and AASB 9.6.5.11 Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |\n| Item 28.2.6   | Report share-based payment reserves.Report this item in accordance with AASB 101.78 (e) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |\n| Item 28.2.7   | Report financial assets at FVOCI.Report this item in accordance with AASB 101.78 (e) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |\n| Item 28.2.8   | Report cost of hedging reserves.Report this item in accordance with AASB 101.108 Example and AASB 9.6.5.16 Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |\n| Item 28.2.9   | Report insurance/reinsurance finance reserve.Insurance finance reserve represents the reserve of insurance finance income (expenses) from insurance contracts issued excluded from profit or loss. Reinsurance finance reserve represents the reserve of finance income (expenses) from reinsurance contracts held.Report the amount of insurance finance expense or income recognised in other comprehensive income where the entity chooses the accounting policy set out in AASB 17.88(b) or AASB 17.89(b).Report this item in accordance with AASB 101.54 (r) Disclosure, 101.78 (e) Disclosure and AASB 101.108 Example. |\n| Item 28.2.10  | Report other reserves.Report this item in accordance with AASB 101.106 Disclosure and AASB 101.79 (b) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |\n| Item 28.3     | Report retained earnings.Report this item in accordance with AASB 101.IG6 Example and AASB 101.78 (e) Example.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |\n|               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |\n\n","sortOrder":26},{"sectionNumber":"28","sectionType":"section","heading":"Australia — Superannuation Business","content":"##  Australia — Superannuation Business  Australia — Superannuation Business\n\nThese instructions assist completion of the Reporting Standard LRS 300.0 Statement of Financial Position (Individual statutory fund, Licensed insurer and statutory fund eliminations). The report collects information relating to the licensed insurer’s statement of financial position.\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\nIn completing the reporting standards, unless otherwise stated specifically, reporting life companies are to follow the basis consistent with the relevant Australian Accounting Standards. In particular, appropriate consideration must be given to the interpretation, the basis for measurement, and the netting between revenues/expenses items and financial assets/liabilities.\n\nEach item reported under this Reporting Standard aligns with the Accounting Standards made by the Australian Accounting Standards Board (AASB). The applicable AASB references are specified with each item. AASB reference provides a written description of the accounting meaning of an IFRS Taxonomy element.\n\nEach IFRS taxonomy element contains at least one cross-reference to an AASB Standard (that incorporates IFRS 17 Standards as issued and amended by the International Accounting Standards Board (IASB)) and has a reference type that can be used to identify the source of that element. The IFRS Taxonomy uses the following element reference types:\n\n(b) example—an element of this type represents an example provided in an IFRS/AASB Standard or its accompanying materials; and\n\n(c) common practice—an element of this type reflects common reporting practice within IFRS/AASB financial statements they not specifically mentioned in IFRS/AASB Standards or their accompanying materials, but are consistent with IFRS/AASB Standards. They have been found to be frequently disclosed across a range of companies and accounting jurisdictions.\n\nAny assets recognised for insurance acquisition cash flows paid under AASB 17.28B (pre-coverage or relating to renewals) are included as part of the carrying amount of the related portfolios of insurance contracts issued (in accordance with AASB 17.79). Similarly, any assets or liabilities for cash flows related to portfolios of reinsurance contracts held are reported in accordance with AASB 17.79.\n\nFor APRA reporting, life insurers must also meet the relevant policy liability valuation requirements outlined in the Prudential Standard LPS 340 Valuation of Policy Liabilities (LPS 340).\n\n##   \n\nInformation in this Reporting Standard is to be completed by life insurers including friendly societies (together referred to as life companies) for each reporting period on statutory fund (approved benefit fund for a friendly society), licensed insurer (LI) and statutory fund eliminations bases.\n\nLRS 300.0 – Statutory fund (Table 1) data must be submitted for each statutory fund (approved benefit fund for a friendly society) separately for each reporting period.\n\nLRS 300.0 – LI (Table 2) data must be submitted for the sum of individual statutory funds, the sum of statutory fund eliminations, the general fund, and if applicable the general fund eliminations for each reporting period. The term, ‘general fund’ has been used to refer to the shareholders’ fund of a life company other than a friendly society or the management fund of a friendly society.\n\nThe expressions Australian Business and Overseas Business refer to the territories where the life insurance business is carried on.\n\nThis section is also to be completed for each participating and non-participating business. The expressions participating business and non-participating business are defined in the Life Act.\n\nConvert amounts denominated in foreign currency to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates.\n\n| Statutory fund (Table 1): Column 1 | Report the total amount for Australian business for the individual statutory fund.                                                                         |\n| ---------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Statutory fund (Table 1):Column 2  | Report the total amount for overseas business for the individual statutory fund.                                                                           |\n| Statutory fund (Table 1):Column 3  | Column 3 ‘Total business’ is a derived column and is calculated as the sum of column 1 and column 2.                                                       |\n| LI (Table 2):Column 1              | Report the total amounts for Australian business before statutory fund eliminations representing the sum of individual statutory funds in positive values. |\n| LI (Table 2):Column 2              | Report the total amounts for overseas business before statutory fund eliminations representing the sum of individual statutory funds in positive values.   |\n| LI (Table 2):Column 3              | Column 3 ‘Total business before statutory fund eliminations’ is a derived column and is calculated as the sum of columns 1 and 2.                          |\n| LI (Table 2):Column 4              | Report the total amounts for Australian business statutory fund eliminations in negative values.                                                           |\n| LI (Table 2):Column 5              | Report the total amounts for overseas business statutory fund eliminations in negative values.                                                             |\n| LI (Table 2):Column 6              | Column 6 ‘Total business’ is a derived column and is calculated as the sum of columns 4 and 5.                                                             |\n| LI (Table 2):Column 7              | Column 7 ‘Australian business after statutory fund eliminations’ is a derived column and is calculated as the sum of columns 1 and 4.                      |\n| LI (Table 2):Column 8              | Column 8 ‘Overseas business after statutory fund eliminations’ is a derived column and is calculated as the sum of columns 2 and 5.                        |\n| LI (Table 2):Column 9              | Column 9 ‘Total business (after statutory fund eliminations)’ is a derived column and is calculated as the sum of columns 7 and 8.                         |\n| LI (Table 2):Column 10             | Report the amount for the general fund in positive values.                                                                                                 |\n| LI (Table 2):Column 11             | Report the amount for general fund eliminations in negative values.                                                                                        |\n| LI (Table 2):Column 12             | Column 12 ‘Total entity’ is a derived column and is calculated as the sum of columns 9, 10 and 11.                                                         |\n\n| Item 1   | Item 1 total cash and cash equivalents, is a derived item calculated as the sum of item 1.1 and item 1.2.Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6. |\n| -------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 1.1 | Report cash.Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6.                                                                                              |\n| Item 1.2 | Report cash equivalents.Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6.                                                                                  |\n\n| Item 2   | Item 2 total receivables, is a derived item calculated as the sum of items 2.1 to 2.3 inclusive.This item is based on AASB 101.54 (h) Disclosure and AASB 101.78 (b) Disclosure. |\n| -------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 2.1 | Report accrued income receivable.Report this item in accordance with AASB 101.78 (b) Common practice.                                                                            |\n| Item 2.2 | Report prepayments.Report this item in accordance with AASB 101.78 (b) Example.                                                                                                  |\n| Item 2.3 | Report other receivables.Report this item in accordance with AASB 101.78 (b) Example. Lessors report finance lease receivables at this item.                                     |\n\n| Item 4   | Item 4 total deferred tax assets, is a derived item calculated as the sum of item 4.1 and item 4.2.Report this item in accordance with AASB 101.54 (o) Disclosure, AASB 112.5, AASB 112.81 (g) (i) Disclosure and AASB 101.56 Disclosure.                                                                                                                                   |\n| -------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 4.1 | Report unused tax losses.Report this item in accordance with AASB 112.81 (g) Disclosure.Report this amount on an annual basis per that disclosed in the insurer’s yearly statutory accounts. For the quarterly returns (not the annual return), when the insurer does not have sufficient information to report a split, report this in item 4.2 Other deferred tax assets. |\n| Item 4.2 | Report other deferred tax assets.Report this item in accordance with AASB 112.5 and AASB 112.81 (g) Common practice.For the quarterly returns (not the annual return), when the insurer does not have sufficient information to report total deferred tax assets split between items 4.1 and 4.2, report total deferred tax assets here.                                    |\n\n| Item 5       | Item 5 other assets, is a derived item calculated as the sum of item 5.1 and item 5.2.Report this item in accordance with AASB 101.54 (d) Disclosure.                                                                                    |\n| ------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 5.1     | Item 5.1 other financial assets, is a derived item and is calculated as the sum of items 5.1.1 to 5.1.6 inclusive.Report this item in accordance with AASB 132.11 and AASB 101.54 (d) Disclosure.                                        |\n| Item 5.1.1   | Report investments.Report investment balances that are not reported elsewhere in this Reporting Standard.Report this item in accordance with AASB 101.55 Common practice.                                                                |\n| Item 5.1.2   | Report derivative financial instruments. Report this item in accordance with AASB 101.55 Common practice and AASB 9 Appendix A.                                                                                                          |\n| Item 5.1.3   | Report securities purchased under agreement to resell.Report this item in accordance with AASB 101.55 Common practice, AASB 9.3.2.15, AASB 9.3.2.23 (a), AASB 9.B3.2.16 (a)–(c), AASB 7.14, AASB 7.15 and AASB 7.42D (a)–(c) Disclosure. |\n| Item 5.1.4   | Report equities/unit trusts.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                                             |\n| Item 5.1.5   | Item 5.1.5 is total debt instruments held - non-indexed IBS and indexed IBS a derived item and is calculated as the sum of item 5.1.5.1 and item 5.1.5.2.Report this item in accordance with AASB 101.55 Common practice.                |\n| Item 5.1.5.1 | Report non-indexed interest-bearing securities (IBS).Report this item in accordance with AASB 101.55 Common practice.                                                                                                                    |\n| Item 5.1.5.2 | Report indexed IBS.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                                                      |\n| Item 5.1.6   | Report other financial assets – other.Report this item in accordance with AASB 101.54 (d) Disclosure.                                                                                                                                    |\n| Item 5.2     | Item 5.2 is other non-financial assets, a derived item calculated as the sum of item 5.2.1 and item 5.2.2.Report this item in accordance with AASB 101.55 Common practice.                                                               |\n| Item 5.2.1   | Report net defined benefit asset.Report this item in accordance with AASB 119.8 and AASB 119.63.                                                                                                                                         |\n| Item 5.2.2   | Report other non-financial assets – other.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                               |\n\n| Item 6 | Report total non-current assets and disposal groups classified as held for sale.Report this item in accordance with AASB 101.54 (j) Disclosure, AASB 5 Appendix A and AASB 5.6. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 7   | Item 7 insurance contract assets, is a derived item calculated as the sum of item 7.1 and item 7.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a), AASB 17.100 Disclosure and AASB 101.54 (da).                                                                                        |\n| -------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 7.1 | Report assets for incurred claims (being the asset equivalent of the liabilities for incurred claims) that are presented as insurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (da) Disclosure.           |\n| Item 7.2 | Report assets for remaining coverage (being the asset equivalent of the liabilities for remaining coverage) that are presented as insurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (da) Disclosure. |\n\n| Item 8   | Item 8 reinsurance contract assets, is a derived item calculated as the sum of item 8.1 and item 8.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c), AASB 17.100 Disclosure and AASB 101.54 (da).                 |\n| -------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 8.1 | Report assets for incurred claims that are presented as reinsurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (da) Disclosure.        |\n| Item 8.2 | Report assets for remaining coverage that are presented as reinsurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (da) Disclosure. |\n\n| Item 9   | Item 9 total investments accounted for using the equity method, is a derived item calculated as the sum of item 9.1 and item 9.2.Report this item in accordance with AASB 128.3, AASB 12.B16 Disclosure, AASB 101.54 (e) Disclosure and AASB 8.24 (a) Disclosure. |\n| -------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 9.1 | Report investments in associates accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.16.                                                                                               |\n| Item 9.2 | Report investments in joint ventures accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.16.                                                                                           |\n\n| Item 10   | Item 10 investments in subsidiaries, joint ventures and associates not accounted for using the equity method, is a derived item calculated as the sum of items 10.1 to 10.3 inclusive.Report this item in accordance with AASB 127.10 Disclosure, AASB 10 Appendix A and AASB 128.3. |\n| --------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Item 10.1 | Report investments in subsidiaries not accounted for using the equity method.Report this item in accordance with AASB 10 Appendix A and AASB 127.10 Disclosure.                                                                                                                      |\n| Item 10.2 | Report investments in associates not accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.17-19.                                                                                                           |\n| Item 10.3 | Report investments in joint ventures not accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.17-19.                                                                                                       |\n\n| Item 11   | Item 11 property, plant and equipment net of depreciation / impairment is a derived item calculated as item 11.1 less item 11.2.Report this item in accordance with AASB 116.6, AASB 116.73 (e) Disclosure and AASB 101.54 (a) Disclosure. |\n| --------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Item 11.1 | Report property, plant and equipment – gross carrying amount.Report this item in accordance with AASB 116.6 and AASB 116.73 (d) Disclosure.                                                                                                |\n| Item 11.2 | Report property, plant and equipment – accumulated depreciation.Report this item in accordance with AASB 116.75 (b) Disclosure and AASB 116.73 (d) Common practice.                                                                        |\n\n| Item 12 | Report total investment property.Report this item in accordance with AASB 101.54 (b) Disclosure, AASB 140.5, AASB 140.79 (d) Disclosure and AASB 140.76 Disclosure. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 14     | Item 14 is total intangible assets and goodwill, a derived item calculated as the sum of item 14.1 and item 14.2 less item 14.3.Report this item in accordance with AASB 3 Appendix A, AASB 138.8 and AASB 138.118 Common practice. |\n| ----------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 14.1   | Report goodwill.Report this item in accordance with AASB 3 Appendix A, AASB 136.135 (a) Disclosure, AASB 136.134 (a) Disclosure, AASB 3.B67 (d) Disclosure and AASB 101.54 (c) Disclosure.                                          |\n| Item 14.2   | Item 14.2 is intangible assets other than goodwill, a derived item calculated as the sum of item 14.2.1 and item 14.2.2.Report this item in accordance with AASB 138.8, AASB 101.54 (c) Disclosure and AASB 138.118 (e) Disclosure. |\n| Item 14.2.1 | Report intangible assets with a finite life.Report this item in accordance with AASB 138.8, AASB 136.135 (b) Disclosure, AASB 138.122 (a) Disclosure and AASB 136.134 (b) Disclosure.                                               |\n| Item 14.2.2 | Report intangible assets with an indefinite life.Report this item in accordance with AASB 138.8, AASB 136.135 (b) Disclosure, AASB 138.122 (a) Disclosure and AASB 136.134 (b) Disclosure.                                          |\n| Item 14.3   | Report total accumulated amortisation and impairment of intangible assets and goodwill.Report this item in accordance with AASB 138.8, AASB 138.118 (c) Disclosure and AASB 3 Appendix A.                                           |\n\n| Item 15 | Item 15 total assets, is a derived item calculated as the sum of items 1 to 14 inclusive.Report this item in accordance with AASB 101.55 Disclosure. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 16   | Item 16 total payables, is a derived item calculated as the sum of items 16.1 to 16.3 inclusive.Report this item in accordance with AASB 101.54 (k) Disclosure. |\n| --------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 16.1 | Report accrued expenses.Report this item in accordance with AASB 101.55 Common practice.                                                                        |\n| Item 16.2 | Report dividends payable.                                                                                                                                       |\n| Item 16.3 | Report other payables.Report this item in accordance with AASB 101.55 Common practice.                                                                          |\n\n| Item 18   | Item 18 insurance contract liabilities, is a derived item calculated as the sum of item 18.1 and item 18.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b), AASB 17.100 Disclosure and AASB 101.54 (ma).                   |\n| --------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 18.1 | Report liabilities for incurred claims that are presented as insurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (ma) Disclosure.        |\n| Item 18.2 | Report liabilities for remaining coverage that are presented as insurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (ma) Disclosure. |\n\n| Item 19   | Item 19 is reinsurance contract liabilities, a derived item and is calculated as the sum of item 19.1 and item 19.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d), AASB 17.100 Disclosure and AASB 101.54 (ma).                                                                              |\n| --------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 19.1 | Report liabilities for incurred claims (being the liability equivalent of the assets for incurred claims) that are presented as reinsurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (ma) Disclosure.       |\n| Item 19.2 | Report liabilities for remaining coverage (being the liability equivalent of assets for remaining coverage) that are presented as reinsurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (ma) Disclosure. |\n\n| Item 21       | Item 21 other liabilities, is a derived item calculated as the sum of item 21.1 other financial liabilities and item 21.2 other non-financial liabilities.                                                |\n| ------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 21.1     | Item 21.1 other financial liabilities, is a derived item and is calculated as the sum of items 21.1.1 to 21.1.9 inclusive.Report this item in accordance with AASB 132.11 and AASB 101.54 (m) Disclosure. |\n| Item 21.1.1   | Report overdrafts.Report this item in accordance with AASB 107.45 Common practice                                                                                                                         |\n| Item 21.1.2   | Report securities issued (e.g. promissory notes/commercial paper).Report this item in accordance with AASB 101.55 Common practice.                                                                        |\n| Item 21.1.3   | Item 21.1.3 term loans, is a derived item. Report item 21.1.3 as the sum of item 21.1.3.1 and item 21.1.3.2.Report this item in accordance with AASB 101.112 (c) Common practice.                         |\n| Item 21.1.3.1 | Report term loans with a variable interest rate.Report this item in accordance with AASB 7.39 Common practice.                                                                                            |\n| Item 21.1.3.2 | Report term loans with a fixed interest rate.Report this item in accordance with AASB 7.39 Common practice.                                                                                               |\n| Item 21.1.4   | Report total borrowings.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                  |\n| Item 21.1.5   | Report securities sold under agreements to repurchase.Report this item in accordance with AASB 101.55 Common practice.                                                                                    |\n| Item 21.1.6   | Report derivative financial instruments.Report this item in accordance with AASB 101.55 Common practice and AASB 9 Appendix A.                                                                            |\n| Item 21.1.7   | Report loan capital.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                      |\n| Item 21.1.8   | Report hybrid securities.Report this item in accordance with AASB 101.106 (d) Common practice.                                                                                                            |\n| Item 21.1.9   | Report other financial liabilities - other.Report this item in accordance with AASB 132.11 and AASB 101.55 Common practice.                                                                               |\n| Item 21.2     | Item 21.2 other non-financial liabilities is a derived item. Report item 21.2 as the sum of item 21.2.1 and item 21.2.2.                                                                                  |\n| Item 21.2.1   | Report net defined benefit liability.Report this item in accordance with AASB 119.8 and AASB 119.63.                                                                                                      |\n| Item 21.2.2   | Report other non-financial liabilities – other.Report this item in accordance with AASB 101.55 Common practice.                                                                                           |\n\n| Item 22 | Report current tax liabilities.Report this item in accordance with AASB 112.5 and AASB 101.54 (n) Disclosure. |\n| ------- | ------------------------------------------------------------------------------------------------------------- |\n\n| Item 23 | Report deferred tax liabilities.Report this item in accordance with AASB 112.5, AASB 101.54 (o) Disclosure, AASB 112.81 (g) (i) Disclosure and AASB 101.56 Disclosure. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 24   | Item 24, provisions, is a derived item and is calculated as the sum of items 24.1 to 24.3 inclusive.Report this item in accordance with AASB 137.10, AASB 137.84 (a) Disclosure and AASB 101.78 (d) Disclosure. |\n| --------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 24.1 | Report provisions for restructuring costs.Report this item in accordance with AASB 137.10 and AASB 137.70 Example.                                                                                              |\n| Item 24.2 | Report provisions for employee entitlements.Report this item in accordance with AASB 137.10 and AASB 101.78 (d) Disclosure.                                                                                     |\n| Item 24.3 | Report any other provisions not reported in items 24.1 – 24.3 inclusive.Report this item in accordance with AASB 137.10, AASB 137.84 (a) Disclosure and AASB 101.78 (d) Disclosure.                             |\n\n| Item 25 | Report liabilities included in disposal groups classified as held for sale.Report this item in accordance with AASB 5 Appendix A, AASB 101.54 (p) Disclosure and AASB 5.38 Disclosure. |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 26 | Item 26 is total liabilities, a derived item calculated as the sum of items 16 to 25 inclusive.Report this item in accordance with AASB 101.55 Disclosure. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 27 | Item 27 is net assets, a derived item calculated as item 15 less item 26.Report this item in accordance with AASB 101.112 (c) Common practice and AASB 1.IG63 Example. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 28       | Item 28 is total equity, a derived item calculated as the sum of items 28.1 to 28.3 inclusive.Report this item in accordance with AASB 101.55 Disclosure and AASB 101.78 (e) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                      |\n| ------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 28.1     | Item 28.1 total issued capital is a derived item calculated as the sum of items 28.1.1 to 28.1.3.Report this item in accordance with AASB 101.78 (e) Example.                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |\n| Item 28.1.1   | Report ordinary shares.Report this item in accordance with AASB 133.5 and AASB 101.79 (a) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |\n| Item 28.1.2   | Report preference shares.Report this item in accordance with AASB 101.79 (a) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |\n| Item 28.1.3   | Report other issued capital.Report this item in accordance with AASB 101.79 (a) Disclosure.Report mutual equity interests at this item.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |\n| Item 28.2     | Item 28.2 total reserves is a derived item calculated as the sum of items 28.2.1 to 28.2.10 inclusive.Report this item in accordance with AASB 101.78 (e) Example.                                                                                                                                                                                                                                                                                                                                                                                                                                                            |\n| Item 28.2.1   | Report general reserves.Report this item in accordance with AASB 101.106 Disclosure and AASB 101.79 (b) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |\n| Item 28.2.2   | Report capital profits reserves.Report this item in accordance with AASB 101.108 Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |\n| Item 28.2.3   | Item 28.2.3 total asset revaluation reserves is a derived item calculated as the sum of item 28.2.3.1 and item 28.2.3.2.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |\n| Item 28.2.3.1 | Report asset revaluation reserves for property, plant and equipment.Report this item in accordance with AASB 101.108, AASB 16.39 and AASB 116.77 (f) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                              |\n| Item 28.2.3.2 | Report asset revaluation reserves for intangibles.Report this item in accordance with AASB 138.124 (b) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |\n| Item 28.2.4   | Report foreign currency translation reserves.Report this item in accordance with AASB 101.78 (e) Common practice, AASB 101.108 and AASB 121.52 (b).                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |\n| Item 28.2.5   | Report cash flow hedge reserves.Report this item in accordance with AASB 101.78 (e) and AASB 9.6.5.11 Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |\n| Item 28.2.6   | Report share-based payment reserves.Report this item in accordance with AASB 101.78 (e) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |\n| Item 28.2.7   | Report financial assets at FVOCI.Report this item in accordance with AASB 101.78 (e) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |\n| Item 28.2.8   | Report cost of hedging reserves.Report this item in accordance with AASB 101.108 Example and AASB 9.6.5.16 Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |\n| Item 28.2.9   | Report insurance/reinsurance finance reserve.Insurance finance reserve represents the reserve of insurance finance income (expenses) from insurance contracts issued excluded from profit or loss. Reinsurance finance reserve represents the reserve of finance income (expenses) from reinsurance contracts held.Report the amount of insurance finance expense or income recognised in other comprehensive income where the entity chooses the accounting policy set out in AASB 17.88(b) or AASB 17.89(b).Report this item in accordance with AASB 101.54 (r) Disclosure, 101.78 (e) Disclosure and AASB 101.108 Example. |\n| Item 28.2.10  | Report other reserves.Report this item in accordance with AASB 101.106 Disclosure and AASB 101.79 (b) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |\n| Item 28.3     | Report retained earnings.Report this item in accordance with AASB 101.IG6 Example and AASB 101.78 (e) Example.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |\n|               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |\n\n","sortOrder":27},{"sectionNumber":"29","sectionType":"section","heading":"Overseas — All Business","content":"##  Overseas — All Business  Overseas — All Business\n\nThe expressions Australian Business and Overseas Business refer to the territories where the life insurance business is carried on.\n\nThis section is also to be completed for each participating and non-participating business. The expressions participating business and non-participating business are defined in the Life Act.\n\n","sortOrder":28},{"sectionNumber":"30","sectionType":"section","heading":"Units of measurement","content":"## Units of measurement Units of measurement\n\nConvert amounts denominated in foreign currency to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates.\n\n| Statutory fund (Table 1): Column 1 | Report the total amount for Australian business for the individual statutory fund.                                                                         |\n| ---------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Statutory fund (Table 1):Column 2  | Report the total amount for overseas business for the individual statutory fund.                                                                           |\n| Statutory fund (Table 1):Column 3  | Column 3 ‘Total business’ is a derived column and is calculated as the sum of column 1 and column 2.                                                       |\n| LI (Table 2):Column 1              | Report the total amounts for Australian business before statutory fund eliminations representing the sum of individual statutory funds in positive values. |\n| LI (Table 2):Column 2              | Report the total amounts for overseas business before statutory fund eliminations representing the sum of individual statutory funds in positive values.   |\n| LI (Table 2):Column 3              | Column 3 ‘Total business before statutory fund eliminations’ is a derived column and is calculated as the sum of columns 1 and 2.                          |\n| LI (Table 2):Column 4              | Report the total amounts for Australian business statutory fund eliminations in negative values.                                                           |\n| LI (Table 2):Column 5              | Report the total amounts for overseas business statutory fund eliminations in negative values.                                                             |\n| LI (Table 2):Column 6              | Column 6 ‘Total business’ is a derived column and is calculated as the sum of columns 4 and 5.                                                             |\n| LI (Table 2):Column 7              | Column 7 ‘Australian business after statutory fund eliminations’ is a derived column and is calculated as the sum of columns 1 and 4.                      |\n| LI (Table 2):Column 8              | Column 8 ‘Overseas business after statutory fund eliminations’ is a derived column and is calculated as the sum of columns 2 and 5.                        |\n| LI (Table 2):Column 9              | Column 9 ‘Total business (after statutory fund eliminations)’ is a derived column and is calculated as the sum of columns 7 and 8.                         |\n| LI (Table 2):Column 10             | Report the amount for the general fund in positive values.                                                                                                 |\n| LI (Table 2):Column 11             | Report the amount for general fund eliminations in negative values.                                                                                        |\n| LI (Table 2):Column 12             | Column 12 ‘Total entity’ is a derived column and is calculated as the sum of columns 9, 10 and 11.                                                         |\n\n| Item 1   | Item 1 total cash and cash equivalents, is a derived item calculated as the sum of item 1.1 and item 1.2.Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6. |\n| -------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 1.1 | Report cash.Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6.                                                                                              |\n| Item 1.2 | Report cash equivalents.Report this item in accordance with AASB 101.54 (i) Disclosure and AASB 107.6.                                                                                  |\n\n| Item 2   | Item 2 total receivables, is a derived item calculated as the sum of items 2.1 to 2.3 inclusive.This item is based on AASB 101.54 (h) Disclosure and AASB 101.78 (b) Disclosure. |\n| -------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 2.1 | Report accrued income receivable.Report this item in accordance with AASB 101.78 (b) Common practice.                                                                            |\n| Item 2.2 | Report prepayments.Report this item in accordance with AASB 101.78 (b) Example.                                                                                                  |\n| Item 2.3 | Report other receivables.Report this item in accordance with AASB 101.78 (b) Example. Lessors report finance lease receivables at this item.                                     |\n\n| Item 4   | Item 4 total deferred tax assets, is a derived item calculated as the sum of item 4.1 and item 4.2.Report this item in accordance with AASB 101.54 (o) Disclosure, AASB 112.5, AASB 112.81 (g) (i) Disclosure and AASB 101.56 Disclosure.                                                                                                                                   |\n| -------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 4.1 | Report unused tax losses.Report this item in accordance with AASB 112.81 (g) Disclosure.Report this amount on an annual basis per that disclosed in the insurer’s yearly statutory accounts. For the quarterly returns (not the annual return), when the insurer does not have sufficient information to report a split, report this in item 4.2 Other deferred tax assets. |\n| Item 4.2 | Report other deferred tax assets.Report this item in accordance with AASB 112.5 and AASB 112.81 (g) Common practice.For the quarterly returns (not the annual return), when the insurer does not have sufficient information to report total deferred tax assets split between items 4.1 and 4.2, report total deferred tax assets here.                                    |\n\n| Item 5       | Item 5 other assets, is a derived item calculated as the sum of item 5.1 and item 5.2.Report this item in accordance with AASB 101.54 (d) Disclosure.                                                                                    |\n| ------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 5.1     | Item 5.1 other financial assets, is a derived item and is calculated as the sum of items 5.1.1 to 5.1.6 inclusive.Report this item in accordance with AASB 132.11 and AASB 101.54 (d) Disclosure.                                        |\n| Item 5.1.1   | Report investments.Report investment balances that are not reported elsewhere in this Reporting Standard.Report this item in accordance with AASB 101.55 Common practice.                                                                |\n| Item 5.1.2   | Report derivative financial instruments. Report this item in accordance with AASB 101.55 Common practice and AASB 9 Appendix A.                                                                                                          |\n| Item 5.1.3   | Report securities purchased under agreement to resell.Report this item in accordance with AASB 101.55 Common practice, AASB 9.3.2.15, AASB 9.3.2.23 (a), AASB 9.B3.2.16 (a)–(c), AASB 7.14, AASB 7.15 and AASB 7.42D (a)–(c) Disclosure. |\n| Item 5.1.4   | Report equities/unit trusts.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                                             |\n| Item 5.1.5   | Item 5.1.5 is total debt instruments held - non-indexed IBS and indexed IBS a derived item and is calculated as the sum of item 5.1.5.1 and item 5.1.5.2.Report this item in accordance with AASB 101.55 Common practice.                |\n| Item 5.1.5.1 | Report non-indexed interest-bearing securities (IBS).Report this item in accordance with AASB 101.55 Common practice.                                                                                                                    |\n| Item 5.1.5.2 | Report indexed IBS.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                                                      |\n| Item 5.1.6   | Report other financial assets – other.Report this item in accordance with AASB 101.54 (d) Disclosure.                                                                                                                                    |\n| Item 5.2     | Item 5.2 is other non-financial assets, a derived item calculated as the sum of item 5.2.1 and item 5.2.2.Report this item in accordance with AASB 101.55 Common practice.                                                               |\n| Item 5.2.1   | Report net defined benefit asset.Report this item in accordance with AASB 119.8 and AASB 119.63.                                                                                                                                         |\n| Item 5.2.2   | Report other non-financial assets – other.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                               |\n\n| Item 6 | Report total non-current assets and disposal groups classified as held for sale.Report this item in accordance with AASB 101.54 (j) Disclosure, AASB 5 Appendix A and AASB 5.6. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 7   | Item 7 insurance contract assets, is a derived item calculated as the sum of item 7.1 and item 7.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a), AASB 17.100 Disclosure and AASB 101.54 (da).                                                                                        |\n| -------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 7.1 | Report assets for incurred claims (being the asset equivalent of the liabilities for incurred claims) that are presented as insurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (da) Disclosure.           |\n| Item 7.2 | Report assets for remaining coverage (being the asset equivalent of the liabilities for remaining coverage) that are presented as insurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (a) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (da) Disclosure. |\n\n| Item 8   | Item 8 reinsurance contract assets, is a derived item calculated as the sum of item 8.1 and item 8.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c), AASB 17.100 Disclosure and AASB 101.54 (da).                 |\n| -------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 8.1 | Report assets for incurred claims that are presented as reinsurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (da) Disclosure.        |\n| Item 8.2 | Report assets for remaining coverage that are presented as reinsurance contract assets.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (c) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (da) Disclosure. |\n\n| Item 9   | Item 9 total investments accounted for using the equity method, is a derived item calculated as the sum of item 9.1 and item 9.2.Report this item in accordance with AASB 128.3, AASB 12.B16 Disclosure, AASB 101.54 (e) Disclosure and AASB 8.24 (a) Disclosure. |\n| -------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 9.1 | Report investments in associates accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.16.                                                                                               |\n| Item 9.2 | Report investments in joint ventures accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.16.                                                                                           |\n\n| Item 10   | Item 10 investments in subsidiaries, joint ventures and associates not accounted for using the equity method, is a derived item calculated as the sum of items 10.1 to 10.3 inclusive.Report this item in accordance with AASB 127.10 Disclosure, AASB 10 Appendix A and AASB 128.3. |\n| --------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Item 10.1 | Report investments in subsidiaries not accounted for using the equity method.Report this item in accordance with AASB 10 Appendix A and AASB 127.10 Disclosure.                                                                                                                      |\n| Item 10.2 | Report investments in associates not accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.17-19.                                                                                                           |\n| Item 10.3 | Report investments in joint ventures not accounted for using the equity method.Report this item in accordance with AASB 101.55 Common practice, AASB 128.3 and AASB 128.17-19.                                                                                                       |\n\n| Item 11   | Item 11 property, plant and equipment net of depreciation / impairment is a derived item calculated as item 11.1 less item 11.2.Report this item in accordance with AASB 116.6, AASB 116.73 (e) Disclosure and AASB 101.54 (a) Disclosure. |\n| --------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Item 11.1 | Report property, plant and equipment – gross carrying amount.Report this item in accordance with AASB 116.6 and AASB 116.73 (d) Disclosure.                                                                                                |\n| Item 11.2 | Report property, plant and equipment – accumulated depreciation.Report this item in accordance with AASB 116.75 (b) Disclosure and AASB 116.73 (d) Common practice.                                                                        |\n\n| Item 12 | Report total investment property.Report this item in accordance with AASB 101.54 (b) Disclosure, AASB 140.5, AASB 140.79 (d) Disclosure and AASB 140.76 Disclosure. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 14     | Item 14 is total intangible assets and goodwill, a derived item calculated as the sum of item 14.1 and item 14.2 less item 14.3.Report this item in accordance with AASB 3 Appendix A, AASB 138.8 and AASB 138.118 Common practice. |\n| ----------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 14.1   | Report goodwill.Report this item in accordance with AASB 3 Appendix A, AASB 136.135 (a) Disclosure, AASB 136.134 (a) Disclosure, AASB 3.B67 (d) Disclosure and AASB 101.54 (c) Disclosure.                                          |\n| Item 14.2   | Item 14.2 is intangible assets other than goodwill, a derived item calculated as the sum of item 14.2.1 and item 14.2.2.Report this item in accordance with AASB 138.8, AASB 101.54 (c) Disclosure and AASB 138.118 (e) Disclosure. |\n| Item 14.2.1 | Report intangible assets with a finite life.Report this item in accordance with AASB 138.8, AASB 136.135 (b) Disclosure, AASB 138.122 (a) Disclosure and AASB 136.134 (b) Disclosure.                                               |\n| Item 14.2.2 | Report intangible assets with an indefinite life.Report this item in accordance with AASB 138.8, AASB 136.135 (b) Disclosure, AASB 138.122 (a) Disclosure and AASB 136.134 (b) Disclosure.                                          |\n| Item 14.3   | Report total accumulated amortisation and impairment of intangible assets and goodwill.Report this item in accordance with AASB 138.8, AASB 138.118 (c) Disclosure and AASB 3 Appendix A.                                           |\n\n| Item 15 | Item 15 total assets, is a derived item calculated as the sum of items 1 to 14 inclusive.Report this item in accordance with AASB 101.55 Disclosure. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 16   | Item 16 total payables, is a derived item calculated as the sum of items 16.1 to 16.3 inclusive.Report this item in accordance with AASB 101.54 (k) Disclosure. |\n| --------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 16.1 | Report accrued expenses.Report this item in accordance with AASB 101.55 Common practice.                                                                        |\n| Item 16.2 | Report dividends payable.                                                                                                                                       |\n| Item 16.3 | Report other payables.Report this item in accordance with AASB 101.55 Common practice.                                                                          |\n\n| Item 18   | Item 18 insurance contract liabilities, is a derived item calculated as the sum of item 18.1 and item 18.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b), AASB 17.100 Disclosure and AASB 101.54 (ma).                   |\n| --------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 18.1 | Report liabilities for incurred claims that are presented as insurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (ma) Disclosure.        |\n| Item 18.2 | Report liabilities for remaining coverage that are presented as insurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (b) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (ma) Disclosure. |\n\n| Item 19   | Item 19 is reinsurance contract liabilities, a derived item and is calculated as the sum of item 19.1 and item 19.2.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d), AASB 17.100 Disclosure and AASB 101.54 (ma).                                                                              |\n| --------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 19.1 | Report liabilities for incurred claims (being the liability equivalent of the assets for incurred claims) that are presented as reinsurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d) Disclosure, AASB 17.100 (c) Disclosure and AASB 101.54 (ma) Disclosure.       |\n| Item 19.2 | Report liabilities for remaining coverage (being the liability equivalent of assets for remaining coverage) that are presented as reinsurance contract liabilities.Report this item in accordance with AASB 17 Appendix A, AASB 17.78 (d) Disclosure, AASB 17.100 (a)-(b) Disclosure and AASB 101.54 (ma) Disclosure. |\n\n| Item 21       | Item 21 other liabilities, is a derived item calculated as the sum of item 21.1 other financial liabilities and item 21.2 other non-financial liabilities.                                                |\n| ------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 21.1     | Item 21.1 other financial liabilities, is a derived item and is calculated as the sum of items 21.1.1 to 21.1.9 inclusive.Report this item in accordance with AASB 132.11 and AASB 101.54 (m) Disclosure. |\n| Item 21.1.1   | Report overdrafts.Report this item in accordance with AASB 107.45 Common practice                                                                                                                         |\n| Item 21.1.2   | Report securities issued (e.g. promissory notes/commercial paper).Report this item in accordance with AASB 101.55 Common practice.                                                                        |\n| Item 21.1.3   | Item 21.1.3 term loans, is a derived item. Report item 21.1.3 as the sum of item 21.1.3.1 and item 21.1.3.2.Report this item in accordance with AASB 101.112 (c) Common practice.                         |\n| Item 21.1.3.1 | Report term loans with a variable interest rate.Report this item in accordance with AASB 7.39 Common practice.                                                                                            |\n| Item 21.1.3.2 | Report term loans with a fixed interest rate.Report this item in accordance with AASB 7.39 Common practice.                                                                                               |\n| Item 21.1.4   | Report total borrowings.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                  |\n| Item 21.1.5   | Report securities sold under agreements to repurchase.Report this item in accordance with AASB 101.55 Common practice.                                                                                    |\n| Item 21.1.6   | Report derivative financial instruments.Report this item in accordance with AASB 101.55 Common practice and AASB 9 Appendix A.                                                                            |\n| Item 21.1.7   | Report loan capital.Report this item in accordance with AASB 101.55 Common practice.                                                                                                                      |\n| Item 21.1.8   | Report hybrid securities.Report this item in accordance with AASB 101.106 (d) Common practice.                                                                                                            |\n| Item 21.1.9   | Report other financial liabilities - other.Report this item in accordance with AASB 132.11 and AASB 101.55 Common practice.                                                                               |\n| Item 21.2     | Item 21.2 other non-financial liabilities is a derived item. Report item 21.2 as the sum of item 21.2.1 and item 21.2.2.                                                                                  |\n| Item 21.2.1   | Report net defined benefit liability.Report this item in accordance with AASB 119.8 and AASB 119.63.                                                                                                      |\n| Item 21.2.2   | Report other non-financial liabilities – other.Report this item in accordance with AASB 101.55 Common practice.                                                                                           |\n\n| Item 22 | Report current tax liabilities.Report this item in accordance with AASB 112.5 and AASB 101.54 (n) Disclosure. |\n| ------- | ------------------------------------------------------------------------------------------------------------- |\n\n| Item 23 | Report deferred tax liabilities.Report this item in accordance with AASB 112.5, AASB 101.54 (o) Disclosure, AASB 112.81 (g) (i) Disclosure and AASB 101.56 Disclosure. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 24   | Item 24, provisions, is a derived item and is calculated as the sum of items 24.1 to 24.3 inclusive.Report this item in accordance with AASB 137.10, AASB 137.84 (a) Disclosure and AASB 101.78 (d) Disclosure. |\n| --------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 24.1 | Report provisions for restructuring costs.Report this item in accordance with AASB 137.10 and AASB 137.70 Example.                                                                                              |\n| Item 24.2 | Report provisions for employee entitlements.Report this item in accordance with AASB 137.10 and AASB 101.78 (d) Disclosure.                                                                                     |\n| Item 24.3 | Report any other provisions not reported in items 24.1 – 24.3 inclusive.Report this item in accordance with AASB 137.10, AASB 137.84 (a) Disclosure and AASB 101.78 (d) Disclosure.                             |\n\n| Item 25 | Report liabilities included in disposal groups classified as held for sale.Report this item in accordance with AASB 5 Appendix A, AASB 101.54 (p) Disclosure and AASB 5.38 Disclosure. |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 26 | Item 26 is total liabilities, a derived item calculated as the sum of items 16 to 25 inclusive.Report this item in accordance with AASB 101.55 Disclosure. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 27 | Item 27 is net assets, a derived item calculated as item 15 less item 26.Report this item in accordance with AASB 101.112 (c) Common practice and AASB 1.IG63 Example. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 28       | Item 28 is total equity, a derived item calculated as the sum of items 28.1 to 28.3 inclusive.Report this item in accordance with AASB 101.55 Disclosure and AASB 101.78 (e) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                      |\n| ------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 28.1     | Item 28.1 total issued capital is a derived item calculated as the sum of items 28.1.1 to 28.1.3.Report this item in accordance with AASB 101.78 (e) Example.                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |\n| Item 28.1.1   | Report ordinary shares.Report this item in accordance with AASB 133.5 and AASB 101.79 (a) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |\n| Item 28.1.2   | Report preference shares.Report this item in accordance with AASB 101.79 (a) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |\n| Item 28.1.3   | Report other issued capital.Report this item in accordance with AASB 101.79 (a) Disclosure.Report mutual equity interests at this item.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |\n| Item 28.2     | Item 28.2 total reserves is a derived item calculated as the sum of items 28.2.1 to 28.2.10 inclusive.Report this item in accordance with AASB 101.78 (e) Example.                                                                                                                                                                                                                                                                                                                                                                                                                                                            |\n| Item 28.2.1   | Report general reserves.Report this item in accordance with AASB 101.106 Disclosure and AASB 101.79 (b) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |\n| Item 28.2.2   | Report capital profits reserves.Report this item in accordance with AASB 101.108 Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |\n| Item 28.2.3   | Item 28.2.3 total asset revaluation reserves is a derived item calculated as the sum of item 28.2.3.1 and item 28.2.3.2.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |\n| Item 28.2.3.1 | Report asset revaluation reserves for property, plant and equipment.Report this item in accordance with AASB 101.108, AASB 16.39 and AASB 116.77 (f) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                              |\n| Item 28.2.3.2 | Report asset revaluation reserves for intangibles.Report this item in accordance with AASB 138.124 (b) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |\n| Item 28.2.4   | Report foreign currency translation reserves.Report this item in accordance with AASB 101.78 (e) Common practice, AASB 101.108 and AASB 121.52 (b).                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |\n| Item 28.2.5   | Report cash flow hedge reserves.Report this item in accordance with AASB 101.78 (e) and AASB 9.6.5.11 Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |\n| Item 28.2.6   | Report share-based payment reserves.Report this item in accordance with AASB 101.78 (e) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |\n| Item 28.2.7   | Report financial assets at FVOCI.Report this item in accordance with AASB 101.78 (e) Common practice.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |\n| Item 28.2.8   | Report cost of hedging reserves.Report this item in accordance with AASB 101.108 Example and AASB 9.6.5.16 Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |\n| Item 28.2.9   | Report insurance/reinsurance finance reserve.Insurance finance reserve represents the reserve of insurance finance income (expenses) from insurance contracts issued excluded from profit or loss. Reinsurance finance reserve represents the reserve of finance income (expenses) from reinsurance contracts held.Report the amount of insurance finance expense or income recognised in other comprehensive income where the entity chooses the accounting policy set out in AASB 17.88(b) or AASB 17.89(b).Report this item in accordance with AASB 101.54 (r) Disclosure, 101.78 (e) Disclosure and AASB 101.108 Example. |\n| Item 28.2.10  | Report other reserves.Report this item in accordance with AASB 101.106 Disclosure and AASB 101.79 (b) Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |\n| Item 28.3     | Report retained earnings.Report this item in accordance with AASB 101.IG6 Example and AASB 101.78 (e) Example.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |\n|               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |","sortOrder":29}],"analysis":{"flash_summary":{"complexity_score":8,"scope_assessment":{"changed":false,"description":"This Reporting Standard replaces and updates the previous Statement of Financial Position reporting standard (transitional rules in para 17) but does not materially expand the population of entities subject to reporting (continues to apply to life companies and friendly societies — para 3) or the stated supervisory purpose (prudential supervision and capital adequacy — para 2). The main changes are greater line‑item detail and explicit alignment to current AASB/IFRS taxonomy elements, quality‑control and auditor assurance expectations, and clearer electronic submission and authorisation rules. These are procedural and technical expansions of reporting detail and control, rather than a substantive widening of scope or a change of regulatory objective."},"complexity_factors":["Long, detailed text with many repetitive sections and 28 principal items each with multiple nested sub-items (e.g. Item 5.1.5.1 etc.)","Extensive cross-references to other instruments (Prudential Standards LPS 001, LPS 310, LPS 340; multiple AASB Standards including AASB 17,101,9,16,119,112,128,140,137)","Multiple reporting bases and derived aggregation rules (statutory fund, licensed insurer, statutory fund eliminations; Table 1 and Table 2; LI columns 1–12)","Conditional logic and exceptions: quarterly vs annual treatment, derived columns, permitted use of estimates for unaudited quarterly reports (para 13)","APRA discretion points: APRA can change reporting periods/frequency, vary requirements for a life company, and grant extensions (paras 8,16,10)","Mandatory auditor involvement with specified assurance level and testing frequency, increasing procedural complexity (para 11)","Sign-off and security requirements (digital certificate, authorised signatories) introduce technical compliance steps (paras 14–15)","Detailed measurement and currency rules (whole AUD, foreign currency conversion per AASB 121) and derived calculation rules across many fields","Transition rules interacting with an old revoked standard and timing of outstanding reports (para 17)"],"plain_english_summary":"**What this instrument does (mechanics)**\n\n- Sets mandatory data fields and submission rules for the Statement of Financial Position that every life insurer (including friendly societies) must send to APRA for each reporting period (paras 3–5, General instructions).\n- Specifies the reporting bases and tables to be completed: individual statutory fund, licensed insurer (entity) and statutory-fund eliminations (Specific instructions — Reporting basis; Tables 1 and 2).\n- Requires quarterly (unaudited) and annual (audited) submissions — five submissions per financial year (four quarters + annual) — with fixed due dates (20 business days for quarters; 3 months for annual) and APRA power to alter frequency or timing by written notice (paras 7–10, 8).\n- Prescribes submission method (electronic via APRA website or as APRA notifies) and electronic authorisation (digital certificate and sign-off by the CEO or CFO) (paras 6, 14–15).\n- Imposes quality-control requirements: the insurer’s systems/processes supporting the reported data must be reviewed and tested by the company Auditor at least annually and subject to at least a limited assurance engagement (para 11). The board and senior management remain responsible for internal policies and authorisation controls (para 12).\n- Defines a detailed, line‑by‑line reporting taxonomy for assets, liabilities and equity items (Items 1–28 and many sub-items), aligned to Australian Accounting Standards (AASB) and the IFRS taxonomy; several fields are derived (calculated) from sub-items (General instructions; many itemised entries under Assets and Liabilities & Equity).\n- Allows APRA to vary reporting requirements for an individual company by written notice, and includes transition rules for reporting under the old standard for certain transitional periods (paras 16–17).\n\n**Who it affects**\n\n- Primary burden: life insurance companies and friendly societies registered under the Life Insurance Act 1995 (referred to as life companies) — they must prepare, audit/test, electronically sign and submit the statement-of-financial-position data to APRA for each reporting period (paras 3–5, 11, 14–15).\n- Secondary/contracted parties: external auditors (required to undertake specified review and limited assurance work) and in practice any internal teams and vendors that maintain financial reporting systems and feeds to APRA.\n- APRA: gains a standardised data feed for prudential supervision and assessing compliance with capital adequacy standards (para 2).\n\n**Why it matters (stated purpose and practical effect)**\n\n- Stated purpose: APRA says the information is used for prudential supervision and assessing capital adequacy compliance (para 2).\n- Practical effect: the instrument standardises the content, format and timing of balance-sheet related data across life insurers (items and AASB cross‑references). That increases APRA’s access to consistent, machine-readable balance sheet data and creates a recurring compliance programme for insurers (Items 1–28; General accounting basis).\n\n**Costs, incentives and trade-offs (tested against the instrument’s mechanics)**\n\n- Who pays: life companies pay the compliance cost — system changes, data-mapping to the prescribed taxonomy, internal controls, auditor time and ongoing submission costs (items and AASB mapping across many line items; para 11 requires auditor testing).\n- Internal resource allocation: insurers must allocate finance, actuarial and IT resources to produce the detailed line items (28 items and many nested sub-items) and to maintain internal controls and digital authorisation processes (paras 11–15; Specific instructions).\n- Auditor workload and fees: the Auditor must review and test the reporting systems and perform at least a limited assurance engagement on an annual basis (para 11). That increases external audit cost relative to preparing only statutory financial statements.\n- Administrative discretion and variability: APRA can require more or less frequent reporting, vary requirements for particular life companies, or grant extensions by written notice (paras 8, 10, 16). That creates implementation uncertainty and potential one‑off operational costs for insurers targeted for additional reporting.\n- Data quality vs cost trade-off: the standard builds in data-quality requirements (auditor testing, board responsibility for policies) which should improve reliability for supervision but increase compliance expense.\n- Opportunity cost: management time and systems budget spent on meeting APRA’s format and granularity requirements cannot be used for product innovation, distribution or other business activities.\n- Effects on private choice and market behaviour: the standard is primarily a reporting/administrative rule; it does not directly change pricing, contract terms or ownership rights. Indirectly, higher reporting/compliance costs could influence smaller insurers’ economics (scale effects) and decisions about product mix or market exit where compliance cost is material.\n\n**Implementation risk and areas requiring judgment**\n\n- Mapping to accounting standards: precise alignment to multiple AASB references (AASB 17, AASB 101, 9, 16, 119, 112, etc.) and IFRS taxonomy elements requires actuarial and accounting judgement and system configuration (General accounting basis; IFRS taxonomy element references).\n- Derived fields and aggregation rules: many fields are “derived” from sub-items and cross-table eliminations introduce additional reconciliation risk (e.g., statutory fund vs licensed insurer vs eliminations; LI Table columns 1–12).\n- Transition complexity: transitional reporting under the old standard for certain periods must be handled correctly (para 17), creating additional operational sequencing risk on adoption.\n\n**Summary of decision & behaviour effects (who decides, who acts, what changes)**\n\n- Who decides: APRA specifies the content, timing and any variations (paras 6–10, 16).\n- Who acts: life companies prepare and submit the reports; their Auditors perform the reviews/limited assurance; Boards and senior management must have policies for internal review and authorisation (paras 11–15, 12).\n- What changes in behaviour: insurers must adopt or adapt systems, governance and audit routines to deliver regular, AASB‑aligned, digitally authorised balance‑sheet data to APRA on the cadence required (paras 7, 9, 11, 14). APRA gains improved, structured visibility over life insurers’ financial positions for prudential supervision (para 2).\n\n(References in parentheses are to the paragraph or section numbers in the Reporting Standard.)"},"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"kimi_summary":{"_metrics":{"completionTokens":641},"content_quality":"ok","complexity_score":8,"scope_assessment":{"changed":false,"description":"This is a technical reporting standard that remains tightly focused on its original purpose: collecting Statement of Financial Position data from life insurers for APRA supervision. While it incorporates the new IFRS 17 insurance accounting standard (a significant update), this represents modernisation rather than scope expansion. The standard does not extend to new types of entities or new regulatory purposes beyond prudential supervision."},"complexity_factors":["Extensive nested item numbering system (e.g., Item 28.2.3.2) with derived calculations at multiple levels","Mandatory cross-referencing to multiple external standards: AASB accounting standards, IFRS 17, LPS prudential standards, and the Life Insurance Act","Dual reporting structure requiring separate statutory fund tables AND licensed insurer consolidation tables with complex elimination accounting","Detailed IFRS taxonomy element mapping with three reference types (disclosure/example/common practice)","Conditional reporting rules (e.g., quarterly vs annual treatment of deferred tax assets)","Multiple business classification dimensions: Australian/Overseas, Ordinary/Superannuation, Participating/Non-participating","Transition provisions requiring parallel reporting under old and new standards","Digital signature and authorisation requirements with specific officer roles"],"plain_english_summary":"This reporting standard requires all life insurers (including friendly societies) to regularly send APRA a detailed Statement of Financial Position — quarterly unaudited snapshots plus an annual audited report — delivered electronically and subject to set deadlines and digital sign-off. \n\nAPRA uses the data for prudential supervision to ensure insurers meet accounting rules (including IFRS 17) and can pay policyholder claims, with auditor assurance and scope for APRA to vary requirements."}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-121-of-2023","history":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-121-of-2023/history","analysis":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-121-of-2023/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-121-of-2023/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-121-of-2023/important-cases","documents":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-121-of-2023/documents"}}