{"id":"F2007L04685","name":"Financial Sector (Collection of Data) (reporting standard) determination No. 30 of 2007 - LRS 430.0 - Sources of Profit","slug":"financial-sector-collection-of-data-reporting-standard-determination-no-30-of-2007-lrs-430-0-sources","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":71100,"registerId":"commonwealth-F2007L04685-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Reporting Standard LRS 430.0","sectionType":"part","heading":"Reporting Standard LRS 430.0","content":"![](image.001.png)\n\n# Reporting Standard LRS 430.0\n\n## Sources of Profit\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 sources of profit.\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 430.0 Sources of Profit, 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 430.0 Sources of Profit (LRF 430.0) 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 430.0 for each reporting period.\n\nNote: the instructions for Form LRF 430.0 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 430.0 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 LPS 310 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":"Sources of Profit","sectionType":"part","heading":"Sources of Profit","content":"## Sources of Profit\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 sources of profit.\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 430.0 Sources of Profit, 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 430.0 Sources of Profit (LRF 430.0) 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 430.0 for each reporting period.\n\nNote: the instructions for Form LRF 430.0 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 430.0 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 LPS 310 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 sources of profit.\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 430.0 Sources of Profit, 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 430.0 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 430.0 contains two sections:\n\n1. All Statutory Fund Products; and\n2. Totals by Class of Business and Profit Allocation.\n\nWithin section 1, reporting items are to be completed for each APRA Product Group (as defined below).","sortOrder":4},{"sectionNumber":"Unit of measurement","sectionType":"division","heading":"Unit of measurement","content":"### Unit of measurement\n\nLRF 430.0 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, specifically in regard to the:\n\n- interpretation/definition of specific revenue and expense items; and\n- appropriate measurement basis for revenue and expense items.\n\nAll assets of a statutory fund are to be measured at Fair Value, with movements in Fair Values recognised in Profit or Loss and reported as revenue or expense in this form.\n\nActuarial valuations and calculations included in, or used in the preparation of, the form must be in accordance with prudential standards.\n\nIf additional clarification is required for specific items in this form, reference should be made to the section ‘Instructions for specific items’, which is provided as a guide.\n\nFor the purposes of reporting under this form, contracts are to be classified in accordance with Prudential Standard LPS 350 Contract Classification for the Purpose of Regulatory Reporting to APRA.","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\nA separate set of product groupings is adopted for Friendly Societies, as shown below.\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\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 Benefit.

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 benefits does not apply to friendly societies.\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.","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\n- Australia – Ordinary\n- Overseas – All business\n\nThe expressions ‘ordinary business’ and ‘superannuation business’ are defined in the Life Insurance Act 1995.\n\nFor each APRA Product Group, two iterations of reporting are required to capture the breakdown of sources of profit between Policy Owners and Shareholders. This is controlled by the drop-down box titled Profit Allocation.\n\n1.1. Life Insurance Act Operating Profit After Income Tax:\n\nWhile there is no specific data to be entered directly against this major heading, it introduces the basis of Profit for this form as Operating Profit which is specifically defined in the Life Insurance Act 1995 – refer Division 5 of Part 4 (Sections 56-60) for life insurers other than Friendly Societies. A simpler regime, which is still catered for in this return, applies to a friendly society.\n\nThe quantum of total profit for the period, for which the sources listed in this form are required to be reported, is determined in LRF 340.1 Retained Profits (SF and SF Eliminations), at Item 2.6.\n\nColumn 1 Investment earnings on assets in excess of policy liabilities\n\nAssets in excess of policy liabilities are intended to be accommodated in APRA Product Groups L11 (Policy Owners’ Retained Profits) and L12 (Shareholders’ Capital & Retained Profits) for life insurers; and F7 (Unallocated Benefit Fund Reserves) and F8 (Members’ Capital & Retained Profits) for friendly societies. Include investment revenue of these groups for the period; earnings are to be reported net of relevant investment expenses.\n\nColumn 2 Profit margins emerging\n\nThis is profit arising in the period from applying the Profit Margin(s) determined at the beginning of the period to the expected value of the Profit Carrier(s) on the basis of Best Estimate Assumptions at the beginning of the period.\n\nColumns 3 – 12 Components of Experience Profit or Loss -\n\nThe total Experience Profit or Loss is the profit or loss arising in the period from differences between the actual experience during the period and the expected experience on the basis of the Best Estimate Assumptions at the beginning of the period.\n\nThe total Experience Profit or Loss is to be broken down into the components arising in respect of applicable categories from the following items:\n\nColumn 3 Acquisition Expenses\n\nThe fixed and variable expenses of the company to the extent they are, either directly or indirectly, referable to those activities of the company related to the acquiring of that new business expected to derive from the expenditure.\n\nInclude any profit arising from a situation where establishment fee revenue is greater than acquisition expenses, and the surplus is not required to support future expense.\n\n \nColumn 4 Maintenance Expenses\n\nThe fixed and variable expenses of the company to the extent they are, either directly or indirectly, referable to those activities of the company related to the administration of (a) policies subsequent to their sale, including policies subject to claim; and (b) the general operations, including maintenance of the overall health of the company.\n\nColumn 5 Mortality (net of reinsurance)\n\nThis is to be reported net of reinsurance.\n\nColumn 6 Morbidity (net of reinsurance)\n\nSee column 5.\n\nColumn 7 Surrender & discontinuances\n\nInclude profits (or losses) on terminated benefits.\n\nColumn 9 Investment profits from change in assumed future net earned rates\n\nInclude profits (or losses) due to asset liability mismatch.\n\nColumn 11 Other items\n\nInclude other components of experience profit or loss not specifically categorised above.\n\nColumn 12 Total Experience Profits or Loss\n\nThe number entered should equal the sum of all experience profit items listed above (columns 3 to 11).\n\nColumn 13 New business losses recognised\n\nThis column arises in respect of business written at a loss which is not otherwise absorbed in profit margins for existing in force business. Losses should be entered as negative numbers.\n\nInclude (as a positive number) any new business profits that have been used to offset in force business losses. In such circumstances, the gross in-force loss is to be reported in Column 14.\n\nColumn 14 Loss recognition/reversal in respect of in force business\n\nThis column arises from changes in assumptions which eliminate (or reinstate) the value of profit margins in respect of in force business.\n\nInclude (as a positive number) any in force business profits that have been used to offset new business losses. In such circumstances, the gross new business loss is to be reported in Column 13.\n\nColumn 15 Total Capitalisation of Loss / Reversal of Capitalised Loss \\[derived item\\]\n\nThis column is calculated automatically by the form, as sum of columns 13 and 14.","sortOrder":10},{"sectionNumber":"Columns 16 to 18 relate to life investme","sectionType":"division","heading":"Columns 16 to 18 relate to life investment contracts.","content":"### Columns 16 to 18 relate to life investment contracts.\n\nColumn 16 Financial Instrument Profit\n\nFinancial Instrument Profit is determined as the sum of all cash flows relating to the financial instrument element of Life Investment Contracts, including investment earnings on the underlying assets, less the change in the value of the Life Investment Contract Liability (i.e. the financial instrument liability). Essentially, any profit arising from changes in fair values of Financial Instruments that are not matched by changes in fair values of the underlying assets.\n\nColumn 17 Management Services Profit\n\nManagement Services Profit is determined as the sum of all cash flows relating to the management service element of Life Investment Contracts, plus/(less) the change in the value of any asset/(liability) arising in respect of the management services element. Essentially fees less expenses for that component of the business, where fees include changes in deferred fee revenue and expenses include changes in deferred acquisition costs.\n\nColumn 18 Change in valuation methods and assumptions\n\nInclude one-off changes in the amortisation of deferred fee revenue and deferred acquisition costs\n\nColumn 19 Total Life Insurance Act Operating Profit After Income Tax\n\nThe number entered should equal the sum of all profit items above.\n\nColumn 20 Cumulative Losses Carried Forward at the end of the Year\n\nThis item is recorded for keeping track of total amounts of losses recognised and not reversed. Losses should be entered as negative numbers.","sortOrder":11},{"sectionNumber":"2","sectionType":"division","heading":"Totals by Class of Business and Profit Allocation","content":"### Section 2 Totals by Class of Business and Profit Allocation\n\nNo value is required to be entered in this section. Items in this section are derived fields that sum up the sources of profit by class of business and profit allocation.","sortOrder":12}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-realtime","completionTokens":2360},"content_quality":"ok","complexity_score":6,"scope_assessment":{"changed":false,"description":"The instrument remains focused on its original purpose of collecting granular profit-source data from life insurers for prudential supervision. The detailed product classifications and actuarial profit component breakdowns serve the stated objective of monitoring insurer financial health and compliance with prudential standards."},"complexity_factors":["12 distinct APRA Product Groups for life insurers (L1-L12) and 8 for friendly societies (F1-F8) requiring separate profit attribution","Extensive cross-referencing to other regulatory instruments including the Life Insurance Act 1995, AASB 121, and prudential standards LPS 310 and LPS 350","Technical actuarial terminology including 'profit carriers,' 'best estimate assumptions,' 'experience profit,' and 'amortisation of deferred acquisition costs'","Dual reporting tracks distinguishing between participating policies (where profits go to policy owners) and non-participating policies (where profits go to shareholders)","Conditional logic for different entity types (life insurers vs friendly societies) with varying definitions for statutory funds and capital","Multiple submission authentication methods (digital certificates vs wet signatures) with specific receipt requirements"],"plain_english_summary":"APRA’s reporting standard requires all life insurers and friendly societies to file annual Form LRF 430.0 explaining how profits arise (investment earnings, margins, experience gains/losses, new business results, and investment‑linked revenues) and to split amounts between policyholders and shareholders. Returns—electronically or on paper—are due four months after year‑end, must be audited and board‑reviewed, and are used for APRA’s prudential supervision (and may be shared with other agencies)."}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-30-of-2007-lrs-430-0-sources","history":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-30-of-2007-lrs-430-0-sources/history","analysis":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-30-of-2007-lrs-430-0-sources/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-30-of-2007-lrs-430-0-sources/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-30-of-2007-lrs-430-0-sources/important-cases","documents":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-30-of-2007-lrs-430-0-sources/documents"}}