{"id":"F2007L04683","name":"Financial Sector (Collection of Data) (reporting standard) determination No. 28 of 2007 - LRS 410.0 - Capital Measurement Statistics","slug":"financial-sector-collection-of-data-reporting-standard-determination-no-28-of-2007-lrs-410-0-capital","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":71096,"registerId":"commonwealth-F2007L04683-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Reporting Standard LRS 410.0","sectionType":"part","heading":"Reporting Standard LRS 410.0","content":"![](image.001.png)\n\n# Reporting Standard LRS 410.0\n\n## Capital Measurement Statistics\n\n### Objective of this reporting standard\n\nThis reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001. It requires all registered life insurance companies to report to APRA, in general, on an annual basis in relation to capital measurement statistics.\n\nThis reporting standard outlines the overall requirements for the provision of relevant information to APRA. It should be read in conjunction with Form LRF 410.0 Capital Measurement Statistics, and the associated instructions (both of which are attached and form part of this reporting standard).\n\nPurpose\n\n1. Information collected in Form LRF 410.0 Capital Measurement Statistics (LRF 410.0) is used by APRA for the purpose of prudential supervision, including assessing compliance with prudential standards and actuarial standards where appropriate. It may also be used by the Reserve Bank of Australia, the Australian Bureau of Statistics and the Australian Securities and Investments Commission.\n\nApplication\n\n2. 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 Insurance Act).\n\nInformation required\n\n3. A life company must provide APRA with the information required by Form LRF 410.0 for each reporting period.\n\nNote: the instructions for Form LRF 410.0 explain in more detail the information that is required.\n\n4. The information required to be provided to APRA under this reporting standard is not intended to form part of the financial statements or the annual returns, within the meaning of section 124 of the Life Insurance Act, given by the life company to APRA.\n\nMethod of submission\n\n5. The information required by this reporting standard must be given to APRA either:\n\n(a) in electronic form using the ‘Direct to APRA’ application, applying one of the electronic submission mechanisms under that application; or\n\n(b) by completing Form LRF 410.0 on paper and mailing the completed form to APRA\n\nNote: the ‘Direct to APRA’ application software and paper forms may be obtained from APRA.\n\nReporting periods and due dates\n\n6. Subject to paragraph 7, a life company must provide the information required by this reporting standard in audited form in respect of the financial year of the life company.\n\nNote: the annual audited form must be submitted in conjunction with the annual auditor’s report, as required under Prudential Standard LPS 310 Audit and Actuarial Requirements Paragraph 8.\n\n7. APRA may, by notice in writing, change the reporting periods, or specified reporting periods, for a particular life company, to require it to provide the information required by this reporting standard more frequently, or less frequently, having regard to:\n\n(a) the particular circumstances of the life company;\n\n(b) the extent to which the information is required for the purposes of the prudential supervision of the life company; and\n\n(c) the requirements of the Reserve Bank of Australia or the Australian Bureau of Statistics or the Australian Securities and Investments Commission.\n\n8. The information required by this reporting standard must be provided to APRA within four months after the end of the reporting period to which the information relates.\n\n9. APRA may grant a life company an extension of a due date in writing, in which case the new due date for the provision of the information will be the date on the notice of extension.\n\nQuality control\n\n10. The information provided by a life company under this reporting standard must be the product of processes and controls that have been reviewed and tested by the auditor of the life company.\n\n11. All information provided by a life company under this reporting standard must be subject to 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\n12. Information provided to APRA in audited form must be audited by the auditor of the life company.\n\n13. Actuarial valuations and calculations included in, or used in the preparation of, the information provided to APRA must be in accordance with the actuarial standards and prudential standards in force for the reporting period.\n\nAuthorisation\n\n14. If the officer of a life company provides the information required by this reporting standard:\n\n(a) using Direct to APRA (D2A), the officer must digitally authorise, submit the data to APRA and receive a D2A receipt number for the information to be considered given to APRA. APRA will issue ‘digital certificates’ to officers of the life company who have authority to transmit the data to APRA; or\n\n(b) on paper, the relevant completed form must be signed on the front page by the principal executive officer or chief financial officer of the life company.\n\nNote: information in draft returns saved at APRA using D2A will not be considered to be provided to APRA for the purposes of the life company's obligations under this reporting standard.\n\nMinor alterations to forms and instructions\n\n15. APRA may make minor variations to:\n\n> (a) a form that is part of this reporting standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or\n\n> (b) the instructions to a form, to clarify their application to the form\n\n> without changing any substantive requirement in the form or instructions.\n\n16. If APRA makes such a variation it must notify in writing each life company that is required to report under this reporting standard.\n\n# Transitional\n\n17. A life company must report in accordance with this reporting standard for any reporting period ending on or after 1 January 2008. However, a life company must also report to APRA in accordance with the Prudential Rules which applied before the commencement of this reporting standard in respect of any reporting period ending before 1 January 2008.\n\nNote: as an additional transitional measure, a life company must also report to APRA in accordance with Reporting Standard LRS 901 Transitional Arrangements 2008.\n\nInterpretation\n\n18. In this reporting standard:\n\nbusiness days means ordinary business days, exclusive of Saturdays, Sundays or public holidays;\n\nprincipal executive officer means the principal executive officer of the life company for the time being, by whatever name called, and whether or not he or she is a member of the governing board of the entity;\n\nreporting period means a reporting period under paragraph 6 or, if applicable, paragraph 7.","sortOrder":0},{"sectionNumber":"Capital Measurement Statistics","sectionType":"part","heading":"Capital Measurement Statistics","content":"## Capital Measurement Statistics\n\n### Objective of this reporting standard\n\nThis reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001. It requires all registered life insurance companies to report to APRA, in general, on an annual basis in relation to capital measurement statistics.\n\nThis reporting standard outlines the overall requirements for the provision of relevant information to APRA. It should be read in conjunction with Form LRF 410.0 Capital Measurement Statistics, and the associated instructions (both of which are attached and form part of this reporting standard).\n\nPurpose\n\n1. Information collected in Form LRF 410.0 Capital Measurement Statistics (LRF 410.0) is used by APRA for the purpose of prudential supervision, including assessing compliance with prudential standards and actuarial standards where appropriate. It may also be used by the Reserve Bank of Australia, the Australian Bureau of Statistics and the Australian Securities and Investments Commission.\n\nApplication\n\n2. 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 Insurance Act).\n\nInformation required\n\n3. A life company must provide APRA with the information required by Form LRF 410.0 for each reporting period.\n\nNote: the instructions for Form LRF 410.0 explain in more detail the information that is required.\n\n4. The information required to be provided to APRA under this reporting standard is not intended to form part of the financial statements or the annual returns, within the meaning of section 124 of the Life Insurance Act, given by the life company to APRA.\n\nMethod of submission\n\n5. The information required by this reporting standard must be given to APRA either:\n\n(a) in electronic form using the ‘Direct to APRA’ application, applying one of the electronic submission mechanisms under that application; or\n\n(b) by completing Form LRF 410.0 on paper and mailing the completed form to APRA\n\nNote: the ‘Direct to APRA’ application software and paper forms may be obtained from APRA.\n\nReporting periods and due dates\n\n6. Subject to paragraph 7, a life company must provide the information required by this reporting standard in audited form in respect of the financial year of the life company.\n\nNote: the annual audited form must be submitted in conjunction with the annual auditor’s report, as required under Prudential Standard LPS 310 Audit and Actuarial Requirements Paragraph 8.\n\n7. APRA may, by notice in writing, change the reporting periods, or specified reporting periods, for a particular life company, to require it to provide the information required by this reporting standard more frequently, or less frequently, having regard to:\n\n(a) the particular circumstances of the life company;\n\n(b) the extent to which the information is required for the purposes of the prudential supervision of the life company; and\n\n(c) the requirements of the Reserve Bank of Australia or the Australian Bureau of Statistics or the Australian Securities and Investments Commission.\n\n8. The information required by this reporting standard must be provided to APRA within four months after the end of the reporting period to which the information relates.\n\n9. APRA may grant a life company an extension of a due date in writing, in which case the new due date for the provision of the information will be the date on the notice of extension.\n\nQuality control\n\n10. The information provided by a life company under this reporting standard must be the product of processes and controls that have been reviewed and tested by the auditor of the life company.\n\n11. All information provided by a life company under this reporting standard must be subject to 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\n12. Information provided to APRA in audited form must be audited by the auditor of the life company.\n\n13. Actuarial valuations and calculations included in, or used in the preparation of, the information provided to APRA must be in accordance with the actuarial standards and prudential standards in force for the reporting period.\n\nAuthorisation\n\n14. If the officer of a life company provides the information required by this reporting standard:\n\n(a) using Direct to APRA (D2A), the officer must digitally authorise, submit the data to APRA and receive a D2A receipt number for the information to be considered given to APRA. APRA will issue ‘digital certificates’ to officers of the life company who have authority to transmit the data to APRA; or\n\n(b) on paper, the relevant completed form must be signed on the front page by the principal executive officer or chief financial officer of the life company.\n\nNote: information in draft returns saved at APRA using D2A will not be considered to be provided to APRA for the purposes of the life company's obligations under this reporting standard.\n\nMinor alterations to forms and instructions\n\n15. APRA may make minor variations to:\n\n> (a) a form that is part of this reporting standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or\n\n> (b) the instructions to a form, to clarify their application to the form\n\n> without changing any substantive requirement in the form or instructions.\n\n16. If APRA makes such a variation it must notify in writing each life company that is required to report under this reporting standard.\n\n# Transitional\n\n17. A life company must report in accordance with this reporting standard for any reporting period ending on or after 1 January 2008. However, a life company must also report to APRA in accordance with the Prudential Rules which applied before the commencement of this reporting standard in respect of any reporting period ending before 1 January 2008.\n\nNote: as an additional transitional measure, a life company must also report to APRA in accordance with Reporting Standard LRS 901 Transitional Arrangements 2008.\n\nInterpretation\n\n18. In this reporting standard:\n\nbusiness days means ordinary business days, exclusive of Saturdays, Sundays or public holidays;\n\nprincipal executive officer means the principal executive officer of the life company for the time being, by whatever name called, and whether or not he or she is a member of the governing board of the entity;\n\nreporting period means a reporting period under paragraph 6 or, if applicable, paragraph 7.","sortOrder":1},{"sectionNumber":"Objective of this reporting standard","sectionType":"division","heading":"Objective of this reporting standard","content":"### Objective of this reporting standard\n\nThis reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001. It requires all registered life insurance companies to report to APRA, in general, on an annual basis in relation to capital measurement statistics.\n\nThis reporting standard outlines the overall requirements for the provision of relevant information to APRA. It should be read in conjunction with Form LRF 410.0 Capital Measurement Statistics, and the associated instructions (both of which are attached and form part of this reporting standard).","sortOrder":2},{"sectionNumber":"Transitional","sectionType":"part","heading":"Transitional","content":"# Transitional\n\n17. A life company must report in accordance with this reporting standard for any reporting period ending on or after 1 January 2008. However, a life company must also report to APRA in accordance with the Prudential Rules which applied before the commencement of this reporting standard in respect of any reporting period ending before 1 January 2008.\n\nNote: as an additional transitional measure, a life company must also report to APRA in accordance with Reporting Standard LRS 901 Transitional Arrangements 2008.\n\nInterpretation\n\n18. In this reporting standard:\n\nbusiness days means ordinary business days, exclusive of Saturdays, Sundays or public holidays;\n\nprincipal executive officer means the principal executive officer of the life company for the time being, by whatever name called, and whether or not he or she is a member of the governing board of the entity;\n\nreporting period means a reporting period under paragraph 6 or, if applicable, paragraph 7.","sortOrder":3},{"sectionNumber":"Reporting levels","sectionType":"division","heading":"Reporting levels","content":"### Reporting levels\n\nLRF 410.0 must be completed by all life insurance companies, including friendly societies.\n\nThe form is to be completed for each statutory fund (approved benefit fund).\n\nLRF 410.0 contains two sections:\n\n1. All Statutory Fund Products; and\n2. Totals by Class of Business.\n\nWithin section 1, reporting items are to be completed for each APRA Product Group (as defined below).\n\nWithin each APRA Product Group, some data will be collected in respect of the main Related Product Group represented in the business that makes up that APRA Product Group.","sortOrder":4},{"sectionNumber":"Unit of measurement","sectionType":"division","heading":"Unit of measurement","content":"### Unit of measurement\n\nLRF 410.0 is to be prepared in thousands of Australian dollars (AUD). Amounts denominated in foreign currency are to be converted to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates.","sortOrder":5},{"sectionNumber":"Definitions","sectionType":"division","heading":"Definitions","content":"### Definitions\n\nDefinitions for data reporting items required by this form have been provided where appropriate in the instructions under the section headed ‘Instructions for specific items’.\n\nDefinitions, unless specified, apply to all life insurance companies, including friendly societies as if each reference to a statutory fund, or shareholders’ fund, were a reference to an approved benefit fund, or management fund, respectively. Likewise, reference to shareholders should be taken to embrace ‘members’ of a mutual association and/or a society. The term ‘life companies’ or ‘life insurance companies’ includes friendly societies unless stated otherwise. This is in line with the usage of terms in the Life Insurance Act 1995.","sortOrder":6},{"sectionNumber":"Reporting period","sectionType":"division","heading":"Reporting period","content":"### Reporting period\n\nLife companies are required to report the information in the reporting form on an annual basis i.e. in respect of the financial year of the life company.","sortOrder":7},{"sectionNumber":"Basis of preparation","sectionType":"division","heading":"Basis of preparation","content":"### Basis of preparation\n\nIn completing this form, unless specifically stated otherwise, institutions are to follow the basis that is used for the preparation of the annual financial statements in accordance with the Australian accounting standards.\n\nActuarial valuations and calculations included in, or used in the preparation of, the statistics must be in accordance with prudential standards.\n\nIf additional clarification is required for specific revenue or expense items in this form, reference should be made to the section ‘Instructions for specific items’, which is provided as a guide.","sortOrder":8},{"sectionNumber":"APRA Product Groups","sectionType":"division","heading":"APRA Product Groups","content":"### APRA Product Groups\n\nFor consistency of reporting across the range of forms applicable to life insurers, APRA adopts a single set of product groupings for life insurers. The following tables list the APRA product groups applicable to (1) life companies other than friendly societies, and (2) friendly societies.\n\n```html\n

Ref.

Product Group

Notes

Category

Life companies other than friendly societies

L1

Conventional Participating (Par)

Includes Whole of Life policies and Endowment policies.

Par

L2

Participating Investment Account

As defined in Section 14 of the Life Insurance Act 1995. Exclude non-participating investment account policies (refer L8, below).

Par

L3

Annuity with Longevity Risk

Annuities providing periodic payments that are dependent on the continuance of human life.

Non-par

L4

Individual Lump Sum Risk

Lump sum risk policies issued on an individual (retail) basis. Includes non-participating conventional policies.

Non-par

L5

Individual Disability Income Insurance

Disability Income Insurance policies issued to individuals.

Non-par

L6

Group Lump Sum Risk

Lump sum risk policies issued on a group (wholesale) basis.

Non-par

L7

Group Disability Income Insurance

Disability Income Insurance policies issued on a group basis.

Non-par

L8

Non-par Investment Policy

Include non-participating investment account and investment linked policies.

Non-par

L9

Annuity without Longevity Risk

Annuities providing periodic payments that are NOT dependent on the continuance of human life.

Non-par

L10

Other

Include all other products not specifically categorised above – obtain APRA’s agreement to use.

(Either can be reported)

L11

Policy Owners’ Retained Profits

Retained profits allocated to participating policy owners generally, but not yet vested as specific amounts to particular policies.

Par

L12

Shareholders’ Capital & Retained Profits

Shareholders’ capital plus retained profits allocated to shareholders.

Capital

\n```\n\nNote that Product Groups L11 and L12 are not applicable to this form.\n\nRather than requiring a Related Product Group (as defined in APRA and other prudential standards) of a Life Insurer’s business to be allocated across APRA product groups, APRA will permit it to be contained wholly within one APRA Product Group.\n\nA separate set of product groupings is adopted for Friendly Societies, as follows:\n\n```html\n

Ref.

Product Group

Notes

Friendly societies

F1

Education

F2

Investment Account

As defined in Section 14 of the Life Insurance Act 1995.

F3

Annuity & Superannuation

F4

Risk

All products classified as Defined.

F5

Prepaid Funeral

Funeral products that are classified as Defined Contribution.

F6

Investment Linked

As defined in section 14 of the Life Insurance Act 1995.

F7

Unallocated Benefit Fund Reserve

Value of benefit funds which has not been allocated to either the benefit fund members or to the management fund.

F8

Members’ Capital and Retained Profits

Members’ capital plus retained profits allocated to members.

\n```\n\nThe classification of participating and non-participating business does not apply to friendly societies. Note that Product Groups F7 and F8 are not applicable to this form.\n\nInstructions for specific items\n\nWhile these instructions apply to all life insurance companies, including friendly societies, not all items may be applicable to both: some items may not be applicable to friendly societies while others may not be applicable to life insurers.\n\nAll items are derived from the requirements of Prudential Standards LPS 2.04 Solvency Standard (LPS 2.04) and LPS 3.04 Capital Adequacy Standards (LPS 3.04). In particular, those standards apply on a gross of reinsurance basis; this includes the calculation and reporting of Capital Adequacy Liability (Item 1.1), Solvency Liability (Item 1.2), Current Termination Value (CTV), Minimum Termination Value (MTV), and ‘Greater of’ amounts. Further to this, an additional provision is made in paragraph 6.4 of LPS 2.04 which allows an item of difference to be included as an offset or addition to each of these items for Solvency. The amount(s) of such difference will be included within the amounts reported at Item 1.2 of this form. Similarly, paragraph 7.4 of LPS 3.04 allows an item of difference to be included as an offset or addition to each of these items for Capital Adequacy. The amount(s) of such difference will be included within the amounts reported at Item 1.1 of this form. (See related discussion on these aspects under the Instruction Guides for LRF 100.0 Solvency, and for LRF 110.0 Capital Adequacy.)","sortOrder":9},{"sectionNumber":"1","sectionType":"division","heading":"All Statutory Fund Products","content":"### Section 1 All Statutory Fund Products\n\nThis section is to be completed for each class of business, as specified in the drop-down box list:\n\n- Australia – Superannuation Business\n- Australia – Ordinary Business\n- Overseas – All business\n\nThe expressions ‘ordinary business’ and ‘superannuation business’ are defined in the dictionary of the Life Insurance Act 1995.\n\n1.1. Greater of Capital Adequacy Liability and Current Termination Value\n\nThe three components below (columns 1 to 3) are determined at Related Product Group (RPG) level and then aggregated across the APRA Product Group.\n\nWhere paragraphs 7.2 and 7.3 of LPS 3.04 apply, the methodology to be followed in completing Columns 1 – 3 is outlined in the Instruction Guide for LRF 110.0 Capital Adequacy.\n\nColumn 1 Capital Adequacy Liability (where determined)\n\nColumn 2 Capital Adequacy Current Termination Value (where determined)\n\nColumn 3 Greater of Capital Adequacy Liability and Current Termination Value\n\nColumn 4 Amount of reinsurance/risk mitigation difference included in each column to the left\n\n1.2. Greater of Solvency Liability and Minimum Termination Value and Solvency Current Termination Value\n\nThe following three columns are determined at RPG level and then aggregated across the APRA Product Group.\n\nWhere paragraphs 6.2 and 6.3 of LPS 2.04 apply the methodology to be followed in completing Columns 1 – 3 is outlined in the Instruction Guide for LRF 100.0 Solvency.\n\nColumn 1 Solvency Liability (where determined)\n\nColumn 2 Minimum Termination Value (where determined)\n\nColumn 3 Greater of Solvency Liability and Minimum Termination Value\n\n1.3. Related Product Group Capital Adequacy Margins\n\nThe following provides information where there are multiple RPGs within the APRA Product Group, each with its specific valuation assumptions.\n\nColumn 1 Number of Related Product Groups (RPG) in this APRA Product Group\n\nColumn 2 Name of Main RPG in this APRA Product Group\n\nEnter the name of main Related Product Group in this APRA Product Group.\n\nColumn 3 – 16 Capital Adequacy Margin\n\nReport this information for the main RPG named in Column 2.\n\nThe Capital Adequacy Margins are those applied to the Best Estimate assumptions in order to produce the Capital Adequacy assumptions. In completing this part of the form, life companies should refer to LPS 3.04 Section 4 for guidance.","sortOrder":10},{"sectionNumber":"2","sectionType":"division","heading":"Totals by Class of Business","content":"### Section 2 Totals by Class of Business\n\nAll fields in Section 2 are derived items; therefore, no value is required to be entered in this section.","sortOrder":11}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-realtime","completionTokens":2607},"content_quality":"ok","complexity_score":6,"scope_assessment":{"changed":false,"description":"This is the original 2007 determination establishing the LRS 410.0 reporting framework. It replaced earlier Prudential Rules for reporting periods ending on or after 1 January 2008, but maintains a focused scope strictly limited to capital measurement and solvency reporting for prudential supervision purposes without expansion into unrelated regulatory areas."},"complexity_factors":["Extensive cross-referencing to other prudential standards (LPS 2.04 Solvency, LPS 3.04 Capital Adequacy, LPS 310 Audit Requirements, and AASB 121)","20 distinct product categories requiring different treatment (L1-L12 for life companies, F1-F8 for friendly societies)","Technical actuarial terminology and calculations (Capital Adequacy Liability, Solvency Liability, Current Termination Value, Minimum Termination Value)","Conditional methodologies that depend on specific paragraph references in other standards (paragraphs 6.2, 6.3, 7.2, 7.3)","Dual submission mechanisms with different authentication requirements (digital certificates vs. wet signatures)","Transitional provisions requiring parallel reporting under old and new rules for specific time periods"],"plain_english_summary":"This reporting standard requires every Australian life insurer and friendly society to submit detailed financial safety reports (Form LRF 410.0) to APRA, covering capital adequacy, actuarial valuations for future claims, and product-level breakdowns across statutory funds. \n\nReports are annual (APRA can vary frequency), due within four months of year‑end, must meet audit and board controls, and can be filed electronically or on signed paper. APRA uses the data to monitor insurer solvency and share statistics with other agencies."}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-28-of-2007-lrs-410-0-capital","history":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-28-of-2007-lrs-410-0-capital/history","analysis":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-28-of-2007-lrs-410-0-capital/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-28-of-2007-lrs-410-0-capital/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-28-of-2007-lrs-410-0-capital/important-cases","documents":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-28-of-2007-lrs-410-0-capital/documents"}}