{"id":"F2023L00575","name":"Financial Sector (Collection of Data) (reporting standard) determination No. 82 of 2023","slug":"financial-sector-collection-of-data-reporting-standard-determination-no-82-of-2023","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":104212,"registerId":"commonwealth-F2023L00575-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Reporting Standard GRS 310.0","sectionType":"part","heading":"Reporting Standard GRS 310.0","content":"![Commonwealth Coat of Arms of Australia](image.001.png)\n\n# Reporting Standard GRS 310.0\n\n# Statement of profit or loss and other comprehensive income\n\n## Objective of this Reporting Standard\n\nThis Reporting Standard sets out the requirements for the provision of information to APRA in relation to a general insurer’s profit or loss and other comprehensive income.\n\nIt includes associated specific instructions and must be read in conjunction with Reporting Standard GRS 001 Reporting Requirements (GRS 001), including the general instruction guide.\n\n### Authority\n\n    This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.\n\n### 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 the capital standards.\n\n### Application and commencement\n\n    3. This Reporting Standard applies to all general insurers authorised under the Insurance Act 1973 (insurers). This Reporting Standard applies for reporting periods ending on or after 1 July 2023.\n\n### Information required\n\n    4. An insurer must provide APRA with the information required by this Reporting Standard for each reporting period.\n\n### Method of submission\n\n    5. The information required by this Reporting Standard must be given to APRA:\n    (a) in electronic format using an electronic method available on APRA’s website; or\n    (b) by a method notified by APRA prior to submission.\n\n### Reporting periods and due dates\n\n    6. Subject to paragraph 7, an insurer must provide the information required by this Reporting Standard:\n\n(a) in respect of each quarter based on the financial year of the insurer; and\n\n(b) in respect of each financial year of the insurer.\n\n    Note: The annual information required from an insurer by paragraphs 4, 5 and 6(b), together with certain annual information required by other reporting standards, will form part of the insurer’s yearly statutory accounts within the meaning of section 3 of the Insurance Act. This means that the information must be audited in accordance with paragraph 49J(1)(a) of the Insurance Act. Under subsection 49J(3), the principal auditor of the insurer must give the insurer a certificate relating to the yearly statutory accounts, and that certificate must contain statements of the auditor’s opinions on the matters required by the prudential standards to be dealt with in the certificate.\n    7. If, having regard to the particular circumstances of an insurer, APRA considers it necessary or desirable to obtain information more or less frequently than as provided by subparagraph 6(a) or 6(b), APRA may, by notice in writing, change the reporting periods, or specify reporting periods, for the particular insurer.\n    8. The information required by this Reporting Standard in respect of an insurer must be provided to APRA:\n\n(a) in the case of quarterly information, within 20 business days after the end of the reporting period to which the information relates;\n\n(b) in the case of annual information, within three months after the end of the reporting period to which the information relates; or\n\n(c) in the case of information provided in accordance with paragraph 7, within the time specified by notice in writing.\n\nNote: Paragraph 49L(1)(a) of the Insurance Act provides that the auditor’s certificate required under subsection 49J(3) of that Act must be lodged with APRA in accordance with the prudential standards. The prudential standards provide that the certificate must be submitted to APRA together with the yearly statutory accounts. Accordingly, the auditor’s certificate relating to the annual information referred to in subparagraph 6(b) must be provided to APRA by the time specified in GRS 001 (unless an extension of time is granted under GRS 001).\n\n    9. APRA may, in writing, grant an insurer an extension of a due date in paragraph 8, 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, an insurer is nonetheless required to submit the information required no later than the due date.\n\n### Quality control\n\n    10. The information provided by an insurer under this Reporting Standard must be the product of systems, processes and controls that have been reviewed and tested by the Appointed Auditor of the insurer. This will require the Appointed Auditor to review and test the insurer’s systems, processes and controls designed to enable the insurer to report 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 Appointed 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 GPS 310 Audit and Related Matters.\n\n    11. All information provided by an insurer under this Reporting Standard must be subject to systems, processes and controls developed by the insurer for the internal review and authorisation of that information. It is the responsibility of the Board and senior management of the insurer to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.\n\n### Authorisation\n\n    12. When an officer, or agent, of an insurer 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    13. If the information required by this Reporting Standard is provided by an agent who submits the information on the insurer’s behalf, the insurer must:\n\n(a) obtain from the agent a copy of the completed information provided to APRA; and\n\n(b) retain the completed copy.\n\n    14. An officer, or agent, of an insurer who submits the information under this Reporting Standard for, or on behalf of, the insurer must be authorised by either:\n\n(a) the Principal Executive Officer of the insurer; or\n\n(b) the Chief Financial Officer of the insurer.\n\n### Variations\n\n    15. APRA may, by written notice to the insurer, vary the reporting requirements of this Reporting Standard in relation to that insurer.\n\n### Transition\n\n    16. An insurer must report under the old reporting standard in respect of a transitional reporting period. For these purposes:\n\nold reporting standard means the reporting standard revoked in the determination making this Reporting Standard; and\n\ntransitional reporting period means a reporting period under the old reporting standard:\n\n    (a) which ended before 1 July 2023; and\n    (b) in relation to which the insurer 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 an insurer 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 insurer is still required to provide any overdue reporting documents in accordance with the old reporting standard.\n\n### Interpretation\n\n    17. In this Reporting Standard:\n\n(a) unless the contrary intention appears, words and expressions have the meanings given to them in Prudential Standard GPS 001 Definitions (GPS 001); and\n\n    (b) the following definitions are applicable:\n\nAppointed Auditor means an auditor appointed under paragraph 39(1)(a) of the Insurance Act;\n\nAPRA-authorised reinsurer means an insurer carrying on reinsurance business. For the purposes of this definition, a Lloyd’s underwriter as defined under the Insurance Act is an APRA-authorised reinsurer if it carries on reinsurance business. The Australian Reinsurance Pool Corporation is also an APRA-authorised reinsurer for the purposes of this definition;\n\ncapital standards means the prudential standards which relate to capital adequacy as defined in GPS 001;\n\nChief Financial Officer means the chief financial officer of the insurer, by whatever name called;\n\nfinancial year means the financial year (within the meaning in the Corporations Act 2001) of the insurer;\n\nforeign insurer means a foreign general insurer within the meaning of the Insurance Act;\n\nNote: A reference to a ‘branch’ or ‘branch operation’ is a reference to the Australian operations of a foreign insurer.\n\ngeneral instruction guide refers to the general instruction guide set out in Attachment A of GRS 001;\n\nInsurance Act means the Insurance Act 1973;\n\ninsurer means a general insurer within the meaning of section 11 of the Insurance Act;\n\nNote: In this Reporting Standard, a reference to an ‘authorised insurer’, ‘authorised insurance entity’ or ‘licensed insurer’ is a reference to an insurer, and a reference to an ‘authorised reinsurance entity’ is a reference to an insurer whose business consists only of undertaking liability by way of reinsurance.\n\nnon-APRA-authorised reinsurer means any reinsurer that is not an APRA-authorised reinsurer;\n\nPrincipal Executive Officer means the principal executive officer of the insurer, by whatever name called, and whether or not he or she is a member of the governing board of the insurer; and\n\nreporting period means a period mentioned in subparagraph 6(a) or 6(b) or, if applicable, paragraph 7.\n\n    18. Unless the contrary intention appears, a reference to an Act, Prudential Standard, Reporting Standard, Australian Accounting or Auditing Standard is a reference to the instrument as in force from time to time.","sortOrder":0},{"sectionNumber":"Statement of profit or loss and other co","sectionType":"part","heading":"Statement of profit or loss and other comprehensive income","content":"![Commonwealth Coat of Arms of Australia](image.001.png)\n\n# Reporting Standard GRS 310.0\n\n# Statement of profit or loss and other comprehensive income\n\n## Objective of this Reporting Standard\n\nThis Reporting Standard sets out the requirements for the provision of information to APRA in relation to a general insurer’s profit or loss and other comprehensive income.\n\nIt includes associated specific instructions and must be read in conjunction with Reporting Standard GRS 001 Reporting Requirements (GRS 001), including the general instruction guide.\n\n### Authority\n\n    This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.\n\n### 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 the capital standards.\n\n### Application and commencement\n\n    3. This Reporting Standard applies to all general insurers authorised under the Insurance Act 1973 (insurers). This Reporting Standard applies for reporting periods ending on or after 1 July 2023.\n\n### Information required\n\n    4. An insurer must provide APRA with the information required by this Reporting Standard for each reporting period.\n\n### Method of submission\n\n    5. The information required by this Reporting Standard must be given to APRA:\n    (a) in electronic format using an electronic method available on APRA’s website; or\n    (b) by a method notified by APRA prior to submission.\n\n### Reporting periods and due dates\n\n    6. Subject to paragraph 7, an insurer must provide the information required by this Reporting Standard:\n\n(a) in respect of each quarter based on the financial year of the insurer; and\n\n(b) in respect of each financial year of the insurer.\n\n    Note: The annual information required from an insurer by paragraphs 4, 5 and 6(b), together with certain annual information required by other reporting standards, will form part of the insurer’s yearly statutory accounts within the meaning of section 3 of the Insurance Act. This means that the information must be audited in accordance with paragraph 49J(1)(a) of the Insurance Act. Under subsection 49J(3), the principal auditor of the insurer must give the insurer a certificate relating to the yearly statutory accounts, and that certificate must contain statements of the auditor’s opinions on the matters required by the prudential standards to be dealt with in the certificate.\n    7. If, having regard to the particular circumstances of an insurer, APRA considers it necessary or desirable to obtain information more or less frequently than as provided by subparagraph 6(a) or 6(b), APRA may, by notice in writing, change the reporting periods, or specify reporting periods, for the particular insurer.\n    8. The information required by this Reporting Standard in respect of an insurer must be provided to APRA:\n\n(a) in the case of quarterly information, within 20 business days after the end of the reporting period to which the information relates;\n\n(b) in the case of annual information, within three months after the end of the reporting period to which the information relates; or\n\n(c) in the case of information provided in accordance with paragraph 7, within the time specified by notice in writing.\n\nNote: Paragraph 49L(1)(a) of the Insurance Act provides that the auditor’s certificate required under subsection 49J(3) of that Act must be lodged with APRA in accordance with the prudential standards. The prudential standards provide that the certificate must be submitted to APRA together with the yearly statutory accounts. Accordingly, the auditor’s certificate relating to the annual information referred to in subparagraph 6(b) must be provided to APRA by the time specified in GRS 001 (unless an extension of time is granted under GRS 001).\n\n    9. APRA may, in writing, grant an insurer an extension of a due date in paragraph 8, 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, an insurer is nonetheless required to submit the information required no later than the due date.\n\n### Quality control\n\n    10. The information provided by an insurer under this Reporting Standard must be the product of systems, processes and controls that have been reviewed and tested by the Appointed Auditor of the insurer. This will require the Appointed Auditor to review and test the insurer’s systems, processes and controls designed to enable the insurer to report 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 Appointed 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 GPS 310 Audit and Related Matters.\n\n    11. All information provided by an insurer under this Reporting Standard must be subject to systems, processes and controls developed by the insurer for the internal review and authorisation of that information. It is the responsibility of the Board and senior management of the insurer to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.\n\n### Authorisation\n\n    12. When an officer, or agent, of an insurer 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    13. If the information required by this Reporting Standard is provided by an agent who submits the information on the insurer’s behalf, the insurer must:\n\n(a) obtain from the agent a copy of the completed information provided to APRA; and\n\n(b) retain the completed copy.\n\n    14. An officer, or agent, of an insurer who submits the information under this Reporting Standard for, or on behalf of, the insurer must be authorised by either:\n\n(a) the Principal Executive Officer of the insurer; or\n\n(b) the Chief Financial Officer of the insurer.\n\n### Variations\n\n    15. APRA may, by written notice to the insurer, vary the reporting requirements of this Reporting Standard in relation to that insurer.\n\n### Transition\n\n    16. An insurer must report under the old reporting standard in respect of a transitional reporting period. For these purposes:\n\nold reporting standard means the reporting standard revoked in the determination making this Reporting Standard; and\n\ntransitional reporting period means a reporting period under the old reporting standard:\n\n    (a) which ended before 1 July 2023; and\n    (b) in relation to which the insurer 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 an insurer 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 insurer is still required to provide any overdue reporting documents in accordance with the old reporting standard.\n\n### Interpretation\n\n    17. In this Reporting Standard:\n\n(a) unless the contrary intention appears, words and expressions have the meanings given to them in Prudential Standard GPS 001 Definitions (GPS 001); and\n\n    (b) the following definitions are applicable:\n\nAppointed Auditor means an auditor appointed under paragraph 39(1)(a) of the Insurance Act;\n\nAPRA-authorised reinsurer means an insurer carrying on reinsurance business. For the purposes of this definition, a Lloyd’s underwriter as defined under the Insurance Act is an APRA-authorised reinsurer if it carries on reinsurance business. The Australian Reinsurance Pool Corporation is also an APRA-authorised reinsurer for the purposes of this definition;\n\ncapital standards means the prudential standards which relate to capital adequacy as defined in GPS 001;\n\nChief Financial Officer means the chief financial officer of the insurer, by whatever name called;\n\nfinancial year means the financial year (within the meaning in the Corporations Act 2001) of the insurer;\n\nforeign insurer means a foreign general insurer within the meaning of the Insurance Act;\n\nNote: A reference to a ‘branch’ or ‘branch operation’ is a reference to the Australian operations of a foreign insurer.\n\ngeneral instruction guide refers to the general instruction guide set out in Attachment A of GRS 001;\n\nInsurance Act means the Insurance Act 1973;\n\ninsurer means a general insurer within the meaning of section 11 of the Insurance Act;\n\nNote: In this Reporting Standard, a reference to an ‘authorised insurer’, ‘authorised insurance entity’ or ‘licensed insurer’ is a reference to an insurer, and a reference to an ‘authorised reinsurance entity’ is a reference to an insurer whose business consists only of undertaking liability by way of reinsurance.\n\nnon-APRA-authorised reinsurer means any reinsurer that is not an APRA-authorised reinsurer;\n\nPrincipal Executive Officer means the principal executive officer of the insurer, by whatever name called, and whether or not he or she is a member of the governing board of the insurer; and\n\nreporting period means a period mentioned in subparagraph 6(a) or 6(b) or, if applicable, paragraph 7.\n\n    18. Unless the contrary intention appears, a reference to an Act, Prudential Standard, Reporting Standard, Australian Accounting or Auditing Standard is a reference to the instrument as in force from time to time.","sortOrder":1},{"sectionNumber":"Objective of this Reporting Standard","sectionType":"part","heading":"Objective of this Reporting Standard","content":"## Objective of this Reporting Standard\n\nThis Reporting Standard sets out the requirements for the provision of information to APRA in relation to a general insurer’s profit or loss and other comprehensive income.\n\nIt includes associated specific instructions and must be read in conjunction with Reporting Standard GRS 001 Reporting Requirements (GRS 001), including the general instruction guide.","sortOrder":2},{"sectionNumber":"Authority","sectionType":"division","heading":"Authority","content":"### Authority\n\n    This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.","sortOrder":3},{"sectionNumber":"Purpose","sectionType":"division","heading":"Purpose","content":"### 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 the capital standards.","sortOrder":4},{"sectionNumber":"Application and commencement","sectionType":"division","heading":"Application and commencement","content":"### Application and commencement\n\n    3. This Reporting Standard applies to all general insurers authorised under the Insurance Act 1973 (insurers). This Reporting Standard applies for reporting periods ending on or after 1 July 2023.","sortOrder":5},{"sectionNumber":"Information required","sectionType":"division","heading":"Information required","content":"### Information required\n\n    4. An insurer must provide APRA with the information required by this Reporting Standard for each reporting period.","sortOrder":6},{"sectionNumber":"Method of submission","sectionType":"division","heading":"Method of submission","content":"### Method of submission\n\n    5. The information required by this Reporting Standard must be given to APRA:\n    (a) in electronic format using an electronic method available on APRA’s website; or\n    (b) by a method notified by APRA prior to submission.","sortOrder":7},{"sectionNumber":"Reporting periods and due dates","sectionType":"division","heading":"Reporting periods and due dates","content":"### Reporting periods and due dates\n\n    6. Subject to paragraph 7, an insurer must provide the information required by this Reporting Standard:\n\n(a) in respect of each quarter based on the financial year of the insurer; and\n\n(b) in respect of each financial year of the insurer.\n\n    Note: The annual information required from an insurer by paragraphs 4, 5 and 6(b), together with certain annual information required by other reporting standards, will form part of the insurer’s yearly statutory accounts within the meaning of section 3 of the Insurance Act. This means that the information must be audited in accordance with paragraph 49J(1)(a) of the Insurance Act. Under subsection 49J(3), the principal auditor of the insurer must give the insurer a certificate relating to the yearly statutory accounts, and that certificate must contain statements of the auditor’s opinions on the matters required by the prudential standards to be dealt with in the certificate.\n    7. If, having regard to the particular circumstances of an insurer, APRA considers it necessary or desirable to obtain information more or less frequently than as provided by subparagraph 6(a) or 6(b), APRA may, by notice in writing, change the reporting periods, or specify reporting periods, for the particular insurer.\n    8. The information required by this Reporting Standard in respect of an insurer must be provided to APRA:\n\n(a) in the case of quarterly information, within 20 business days after the end of the reporting period to which the information relates;\n\n(b) in the case of annual information, within three months after the end of the reporting period to which the information relates; or\n\n(c) in the case of information provided in accordance with paragraph 7, within the time specified by notice in writing.\n\nNote: Paragraph 49L(1)(a) of the Insurance Act provides that the auditor’s certificate required under subsection 49J(3) of that Act must be lodged with APRA in accordance with the prudential standards. The prudential standards provide that the certificate must be submitted to APRA together with the yearly statutory accounts. Accordingly, the auditor’s certificate relating to the annual information referred to in subparagraph 6(b) must be provided to APRA by the time specified in GRS 001 (unless an extension of time is granted under GRS 001).\n\n    9. APRA may, in writing, grant an insurer an extension of a due date in paragraph 8, 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, an insurer is nonetheless required to submit the information required no later than the due date.","sortOrder":8},{"sectionNumber":"Quality control","sectionType":"division","heading":"Quality control","content":"### Quality control\n\n    10. The information provided by an insurer under this Reporting Standard must be the product of systems, processes and controls that have been reviewed and tested by the Appointed Auditor of the insurer. This will require the Appointed Auditor to review and test the insurer’s systems, processes and controls designed to enable the insurer to report 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 Appointed 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 GPS 310 Audit and Related Matters.\n\n    11. All information provided by an insurer under this Reporting Standard must be subject to systems, processes and controls developed by the insurer for the internal review and authorisation of that information. It is the responsibility of the Board and senior management of the insurer to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.","sortOrder":9},{"sectionNumber":"Authorisation","sectionType":"division","heading":"Authorisation","content":"### Authorisation\n\n    12. When an officer, or agent, of an insurer 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    13. If the information required by this Reporting Standard is provided by an agent who submits the information on the insurer’s behalf, the insurer must:\n\n(a) obtain from the agent a copy of the completed information provided to APRA; and\n\n(b) retain the completed copy.\n\n    14. An officer, or agent, of an insurer who submits the information under this Reporting Standard for, or on behalf of, the insurer must be authorised by either:\n\n(a) the Principal Executive Officer of the insurer; or\n\n(b) the Chief Financial Officer of the insurer.","sortOrder":10},{"sectionNumber":"Variations","sectionType":"division","heading":"Variations","content":"### Variations\n\n    15. APRA may, by written notice to the insurer, vary the reporting requirements of this Reporting Standard in relation to that insurer.","sortOrder":11},{"sectionNumber":"Transition","sectionType":"division","heading":"Transition","content":"### Transition\n\n    16. An insurer must report under the old reporting standard in respect of a transitional reporting period. For these purposes:\n\nold reporting standard means the reporting standard revoked in the determination making this Reporting Standard; and\n\ntransitional reporting period means a reporting period under the old reporting standard:\n\n    (a) which ended before 1 July 2023; and\n    (b) in relation to which the insurer 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 an insurer 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 insurer is still required to provide any overdue reporting documents in accordance with the old reporting standard.","sortOrder":12},{"sectionNumber":"Interpretation","sectionType":"division","heading":"Interpretation","content":"### Interpretation\n\n    17. In this Reporting Standard:\n\n(a) unless the contrary intention appears, words and expressions have the meanings given to them in Prudential Standard GPS 001 Definitions (GPS 001); and\n\n    (b) the following definitions are applicable:\n\nAppointed Auditor means an auditor appointed under paragraph 39(1)(a) of the Insurance Act;\n\nAPRA-authorised reinsurer means an insurer carrying on reinsurance business. For the purposes of this definition, a Lloyd’s underwriter as defined under the Insurance Act is an APRA-authorised reinsurer if it carries on reinsurance business. The Australian Reinsurance Pool Corporation is also an APRA-authorised reinsurer for the purposes of this definition;\n\ncapital standards means the prudential standards which relate to capital adequacy as defined in GPS 001;\n\nChief Financial Officer means the chief financial officer of the insurer, by whatever name called;\n\nfinancial year means the financial year (within the meaning in the Corporations Act 2001) of the insurer;\n\nforeign insurer means a foreign general insurer within the meaning of the Insurance Act;\n\nNote: A reference to a ‘branch’ or ‘branch operation’ is a reference to the Australian operations of a foreign insurer.\n\ngeneral instruction guide refers to the general instruction guide set out in Attachment A of GRS 001;\n\nInsurance Act means the Insurance Act 1973;\n\ninsurer means a general insurer within the meaning of section 11 of the Insurance Act;\n\nNote: In this Reporting Standard, a reference to an ‘authorised insurer’, ‘authorised insurance entity’ or ‘licensed insurer’ is a reference to an insurer, and a reference to an ‘authorised reinsurance entity’ is a reference to an insurer whose business consists only of undertaking liability by way of reinsurance.\n\nnon-APRA-authorised reinsurer means any reinsurer that is not an APRA-authorised reinsurer;\n\nPrincipal Executive Officer means the principal executive officer of the insurer, by whatever name called, and whether or not he or she is a member of the governing board of the insurer; and\n\nreporting period means a period mentioned in subparagraph 6(a) or 6(b) or, if applicable, paragraph 7.\n\n    18. Unless the contrary intention appears, a reference to an Act, Prudential Standard, Reporting Standard, Australian Accounting or Auditing Standard is a reference to the instrument as in force from time to time.","sortOrder":13},{"sectionNumber":"General instructions","sectionType":"part","heading":"General instructions","content":"## General instructions\n\nThese instructions assist completion of Reporting Standard GRS 310.0 Statement of profit or loss and other comprehensive income, which collects information relating to the licensed insurer’s profit or loss and other comprehensive income.","sortOrder":16},{"sectionNumber":"Reporting tables","sectionType":"division","heading":"Reporting tables","content":"### Reporting tables\n\nTables described in this reporting standard list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.","sortOrder":17},{"sectionNumber":"General accounting basis","sectionType":"division","heading":"General accounting basis","content":"# Reporting Standard GRS 310.0\n\n# Statement of profit or loss and other comprehensive income\n\n## General instructions\n\nThese instructions assist completion of Reporting Standard GRS 310.0 Statement of profit or loss and other comprehensive income, which collects information relating to the licensed insurer’s profit or loss and other comprehensive income.\n\n### Reporting tables\n\nTables described in this reporting standard list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.\n\n### General accounting basis\n\n### Unless otherwise specifically stated, reporting insurers are to report in accordance with the relevant Australian Accounting Standards.\n\n### 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### IFRS taxonomy element reference\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(a) disclosure—an element of this type depicts a presentation or disclosure requirement of an IFRS/AASB Standard;\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### Definitions\n\nTerms that are highlighted in bold italics are defined in these instructions.  \n\n## Specific instructions\n\n### Reporting basis\n\nInformation in this Reporting Standard is to be completed by general insurers for each reporting period on a Level 1 (licensed insurer) basis.\n\nPlease disclose non-distinct investment components in Reporting Standard GRS 320.0 Liability Roll Forwards at:\n\n-   Part A: Liability Roll Forward 1, item 12: Investment components and premium refunds, item 18: Claims and other expenses paid, including investment components; and\n-   Part B: Liability Roll Forward 1, item 9: Investment components and premium refunds\n\nas applicable (refer to AASB 17.103 (c) and AASB 17.105 (a) (iii)).\n\nDirect business is any insurance business written / insurance contracts issued by the reporting insurer.\n\nInwards reinsurance is any reinsurance business written / reinsurance contracts issued by the reporting insurer.\n\n### Units of measurement\n\nReport values in this Reporting Standard in whole Australian dollars (AUD) with no decimal place.\n\nConvert amounts denominated in foreign currency to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates.\n\nReport losses and expenses as negative values.\n\nColumns for Licensed insurer\n\n| Column 1 | Report the total amount. |\n| -------- | ------------------------ |\n\n1.  Insurance revenue\n\n| Item 1     | Item 1 total insurance revenue is a derived item and is calculated as the sum of item 1.1 and item 1.2.Report this item in accordance with AASB 101.82 (a) (ii) Disclosure, AASB 17.80 (a) and AASB 17.83. |\n| ---------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 1.1   | Item 1.1 insurance revenue direct business is a derived item and is calculated as the sum of items 1.1.1 to 1.1.3 inclusive.                                                                               |\n| Item 1.1.1 | Report insurance revenue from direct business for contracts that existed at the transition date to which the entity has applied the modified retrospective approach.                                       |\n| Item 1.1.2 | Report insurance revenue from direct business for contracts that existed at the transition date to which the entity has applied the fair value approach.                                                   |\n| Item 1.1.3 | Report insurance revenue from direct business for all other contracts.                                                                                                                                     |\n| Item 1.2   | Item 1.2 insurance revenue from inwards reinsurance business is a derived item and is calculated as the sum of items 1.2.1 to 1.2.3 inclusive.                                                             |\n| Item 1.2.1 | Report insurance revenue from inwards reinsurance business for contracts that existed at the transition date to which the entity has applied the modified retrospective approach.                          |\n| Item 1.2.2 | Report insurance revenue from inwards reinsurance business for contracts that existed at the transition date to which the entity has applied the fair value approach.                                      |\n| Item 1.2.3 | Report insurance revenue from inwards reinsurance business for all other contracts.                                                                                                                        |\n\n2. Insurance service expense\n\n| Item 2     | Item 2 total insurance service expense is a derived item calculated as the sum of items 2.1 and 2.2.Report this item in accordance with AASB 101.82 (ab) Disclosure, AASB 17.80 (a) and AASB 17.84.                                                                                    |\n| ---------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 2.1   | Item 2.1 insurance service expense from direct business is a derived item and is calculated as the sum of items 2.1.1 to 2.1.6 inclusive.                                                                                                                                              |\n| Item 2.1.1 | Report incurred claims from direct business.                                                                                                                                                                                                                                           |\n| Item 2.1.2 | Report other insurance service expenses from direct business.Report insurance acquisition cash flows that have been recognised as expenses when incurred under AASB 17.59 (a) at this item.                                                                                            |\n| Item 2.1.3 | Report amortisation of insurance acquisition cash flows from direct business.                                                                                                                                                                                                          |\n| Item 2.1.4 | Report losses and reversal of losses on onerous contracts from direct business.Report this item in accordance with AASB 17.47-52.                                                                                                                                                      |\n| Item 2.1.5 | Report changes that relate to past service: changes to liabilities for incurred claims from direct business.Report this item in accordance with AASB 17.103 (b) (iii) Disclosure.                                                                                                      |\n| Item 2.1.6 | Report impairment losses/reversals on assets for insurance acquisition cash flows from direct business.Report this item in accordance with AASB 17 Appendix A, AASB 17.28B, AASB 17.28E and AASB 17.28F. APRA has interpreted this item to form part of insurance service expense.     |\n| Item 2.2   | Item 2.2 insurance service expenses from inwards reinsurance is a derived item and is calculated as the sum of items 2.2.1 to 2.2.6 inclusive.                                                                                                                                         |\n| Item 2.2.1 | Report incurred claims from inwards reinsurance.                                                                                                                                                                                                                                       |\n| Item 2.2.2 | Report other insurance service expenses from inwards reinsurance.Report insurance acquisition cash flows that have been recognised as expenses when incurred under AASB 17.59 (a) at this item.                                                                                        |\n| Item 2.2.3 | Report amortisation of insurance acquisition cash flows from inwards reinsurance.                                                                                                                                                                                                      |\n| Item 2.2.4 | Report losses and reversal of losses on onerous contracts from inwards reinsurance.Report this item in accordance with AASB 17.47-52.                                                                                                                                                  |\n| Item 2.2.5 | Report changes that relate to past service: changes to liabilities for incurred claims from inwards reinsurance.Report this item in accordance with AASB 17.103 (b) (iii) Disclosure.                                                                                                  |\n| Item 2.2.6 | Report impairment losses/reversals on assets for insurance acquisition cash flows from inwards reinsurance.Report this item in accordance with AASB 17 Appendix A, AASB 17.28B, AASB 17.28E and AASB 17.28F. APRA has interpreted this item to form part of insurance service expense. |\n\n3. Insurance service result before reinsurance contracts held\n\n| Item 3 | Item 3, insurance service result before reinsurance contracts held, is a derived item and is calculated as the sum of item 1 and item 2.Report this item in accordance with AASB 17 Appendix A. |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n4. Allocation of reinsurance premiums\n\n| Item 4 | Report allocation of reinsurance premiums.It is requested that the entity present this item separately from amounts recoverable from reinsurers reported at item 5.Report this item in accordance with AASB 17.86. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n5. Amounts recoverable from reinsurers\n\n| Item 5 | Report amounts recoverable from reinsurers. Include at this item reversals of recoveries of losses from the reinsurance contracts determined in accordance with AASB 17.66B for reinsurance contracts held.Report this item in accordance with AASB 17.86.The amount reported at this item should reconcile to item 8. ‘Amounts recoverable from reinsurers’ reported in Reporting Standard GRS 320.0 Liability Roll Forwards Part B: Reinsurance contracts held (outwards reinsurance by cedant/retrocedent) Liability Roll Forward 1 – Reconciliation of the remaining coverage and incurred claims (GRS 320.0 Part B RF1). |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n6. Net expense from reinsurance contracts held\n\n| Item 6 | Item 6 is a derived item and is calculated as the sum of item 4 and item 5. This item can be a net income or net expense.Report this item in accordance with AASB 17 Appendix A, AASB 101.82 (ac), AASB 17.82 and AASB 17.86. |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n7. Insurance service result\n\n| Item 7 | Item 7, insurance service result, is a derived item and is calculated as the sum of item 3 and item 6.Report this item in accordance with AASB 17.80 (a). |\n| ------ | --------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n8. Interest revenue calculated using the effective interest method\n\n| Item 8 | Report interest revenue calculated using the effective interest method.Report this item in accordance with AASB 101.82 (a) (i) and AASB 9 Appendix A. |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n9. Other interest and similar income\n\n| Item 9 | Report other interest and similar income include income that is not reported at item 8 and items 10 to 16. |\n| ------ | ---------------------------------------------------------------------------------------------------------- |\n\n10. Net gains/losses on financial assets at fair value through profit or loss\n\n| Item 10 | Report net gains/losses on financial assets at fair value through profit or loss.Report this item in accordance with AASB 132.11 and AASB 7.20 (a) (i). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n11. Net gains/losses on derecognition of financial assets measured at fair value through other comprehensive income\n\n| Item 11 | Report net gains or losses on derecognition of financial assets measured at fair value through other comprehensive income.Report this item in accordance with AASB 132.11 and AASB 7.20 (a) (viii). |\n| ------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n12. Net gains/(losses) on derecognition of financial assets measured at amortised cost\n\n| Item 12 | Report net gains/(losses) on derecognition of financial assets measured at amortised cost.Report this item in accordance with AASB 132.11 and AASB 101.82 (aa). |\n| ------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n13. Impairment loss on financial assets\n\n| Item 13 | Report impairment loss on financial assets.Report this item in accordance with AASB 9 Appendix A, AASB 132.11 and AASB 101.82 (ba). |\n| ------- | ----------------------------------------------------------------------------------------------------------------------------------- |\n\n14. Net gains from fair value adjustments to investment properties\n\n| Item 14 | Report net gains from fair value adjustments to investment properties.Report this item in accordance with AASB 140.5 and AASB 140.76 (d). |\n| ------- | ----------------------------------------------------------------------------------------------------------------------------------------- |\n\n15. Net foreign exchange income / expense\n\n| Item 15 | Report net foreign exchange income or expense.Report this item in accordance with AASB 121.52 (a) Common practice. |\n| ------- | ------------------------------------------------------------------------------------------------------------------ |\n\n16. Total investment result\n\n| Item 16 | Item 16 total investment result is a derived item and is calculated as the sum of items 8 to 15 inclusive. |\n| ------- | ---------------------------------------------------------------------------------------------------------- |\n\n17. Insurance finance expenses for insurance contracts issued\n\n| Item 17 | Report insurance finance expenses for insurance contracts issued. This item can be a net income or net expense.Report this item in accordance with AASB 17.87 and AASB 17 Appendix A. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n18. Reinsurance finance income for reinsurance contracts held\n\n| Item 18 | Report reinsurance finance income for reinsurance contracts held. This item can be a net income or net expense.Report this item in accordance with AASB 17.82 and AASB 17 Appendix A.Report the “Effect of changes in non-performance risk of reinsurers\" as reported in GRS 320.0 Part B RF1 item 14 at this item. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n19. Net insurance financial result through profit or loss\n\n| Item 19 | Item 19 is a derived item and is calculated as the sum of item 17 and item 18. This item can be a net income or net expense. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------- |\n\n20. Asset management services revenue\n\n| Item 20 | Report asset management services revenue. This includes revenue from investment management services accounted for in accordance with AASB 15.Report this item in accordance with AASB 15.113 (a) Disclosure and AASB 15.114 Disclosure. |\n| ------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n21. Share of profit/loss of associates and joint ventures accounted for using the equity method\n\n| Item 21 | Report the share of profit or loss of associates and joint ventures accounted for using the equity method.Report this item in accordance with AASB 101.82 (c) and AASB 128.3. |\n| ------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n22. Profit/loss from non-current assets and disposal groups classified as held for sale and not qualifying as discontinued operations\n\n| Item 22 | Report the profit or loss from non-current assets and disposal groups classified as held for sale and not qualifying as discontinued operations. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n23. Impairment loss for goodwill\n\n| Item 23 | Report impairment loss for goodwill.Report this item in accordance with AASB 138.8, AASB 3 Appendix A and AASB 3.B67 (d). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------- |\n\n24. Other income\n\n| Item 24 | Report other income that is not reported elsewhere in the Reporting Standard; including income from contracts outside the scope of AASB 17 (including AASB 15 Revenue from Contracts with Customers) under this item. Revenue from investment management services is to be reported at item 21. |\n| ------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n25. Other finance costs\n\n| Item 25 | Report other finance costs.Report this item in accordance with AASB 101.82 (b) and includes the interest expense on lease liabilities (based on AASB 16.49 and AASB 16.53 (b)). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n26. Other expenses\n\n| Item 26 | Report other expenses. Additionally, include expenses from contracts outside the scope of AASB 17 under this item. |\n| ------- | ------------------------------------------------------------------------------------------------------------------ |\n\n27. Profit/loss from continuing operations before tax\n\n| Item 27 | Item 27 is a derived item and is calculated as the sum of items 7, 16, and items 19 to 26 inclusive.Report this item in accordance with AASB 101.81A (a) Disclosure. |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n28. Income tax expense from continuing operations\n\n| Item 28 | Report income tax expense from continuing operations.Report this item in accordance with AASB 101.82 (d) and AASB 112.77. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------- |\n\n29. Profit/loss for the year from continuing operations after income tax\n\n| Item 29 | Item 29 profit/loss for the year from continuing operations after income tax is a derived item and is calculated as the sum of item 27 and item 28.Report this item in accordance with AASB 101.81A. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n30. Profit/loss from discontinued operations after income tax\n\n| Item 30 | Report profit or loss from discontinued operations after income tax.Report this item in accordance with AASB 101.82 (ea). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------- |\n\n31. Profit (loss) after income tax attributable to members of the company\n\n| Item 31 | Item 31 profit (loss) after income tax attributable to members of the company is a derived item and is calculated as the sum of item 29 and item 30.Report this item in accordance with AASB 101.81B (a) (ii). |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n### Other comprehensive income\n\n#### Items that may be reclassified to profit or loss in subsequent periods\n\nReport this item in accordance with AASB 101.82A (a) (ii).\n\n32. Change in fair value of financial assets at fair value through other comprehensive income\n\n| Item 32 | Report change in fair value of financial assets at fair value through other comprehensive income.Report this item in accordance with AASB 13 Appendix A, AASB 132.11 and AASB 7.20 (a) (viii). |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n33. Amount reclassified to profit or loss\n\n| Item 33 | Report amount reclassified to profit or loss.Report this item in accordance with AASB 7.20 (a) (viii). |\n| ------- | ------------------------------------------------------------------------------------------------------ |\n\n34. Insurance finance expenses for insurance contracts issued\n\n| Item 34 | Report insurance finance expenses for insurance contracts issued. This item can be a net income or net expense.Report this item in accordance with AASB 17.90 and AASB 17 Appendix A. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n35. Reinsurance finance income for reinsurance contracts held\n\n| Item 35 | Report reinsurance finance income for reinsurance contracts held. This item can be a net income or net expense.Report this item in accordance with AASB 17.82, AASB 17.90 and AASB 17 Appendix A. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n36. Net insurance financial result through other comprehensive income\n\n| Item 36 | Item 36 is a derived item and is calculated as the sum of item 34 and item 35. This item can be a net income or net expense. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------- |\n\n37. Share of other comprehensive income of associates and joint ventures accounted for using the equity method\n\n| Item 37 | Report the share of other comprehensive income of associates and joint ventures accounted for using the equity method.Report this item in accordance with AASB 101.82A (b) (ii). |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n38. Income tax relating to items that will be reclassified\n\n| Item 38 | Report income tax relating to items that will be reclassified.Report this item in accordance with AASB 101.91. |\n| ------- | -------------------------------------------------------------------------------------------------------------- |\n\n#### Items that will not be reclassified to profit or loss\n\nReport this item in accordance with AASB 101.82A (a) (i).\n\n39. Revaluation of land and buildings\n\n| Item 39 | Report revaluation of land and buildings.Report this item in accordance with AASB 116.39. |\n| ------- | ----------------------------------------------------------------------------------------- |\n\n40. Share of other comprehensive income of associates and joint ventures accounted for using the equity method\n\n| Item 40 | Report share of other comprehensive income of associates and joint ventures accounted for using the equity method.Report this item in accordance with AASB 101.82A (b) (i) and AASB 128.3. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n41. Remeasurements of post-employment benefit obligations, before tax\n\n| Item 41 | Report remeasurements of post-employment benefit obligations, before tax.Report this item in accordance with AASB 119.120 (c). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------ |\n\n42. Income tax relating to items that will not be reclassified\n\n| Item 42 | Report income tax relating to items that will not be reclassified.Report this item in accordance with AASB 101.91. |\n| ------- | ------------------------------------------------------------------------------------------------------------------ |\n\n43. Total other comprehensive income\n\n| Item 43 | Item 43 total other comprehensive income is a derived item and is calculated as the sum of item 32, 33, and items 36 to 42 inclusive.Report this item in accordance with AASB 101.81A (b). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n44. Total comprehensive income\n\n| Item 44 | Item 44 total comprehensive income is a derived item and is calculated as the sum of item 31 and item 43.Report this item in accordance with AASB 101.81A (c). |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------- |","sortOrder":18},{"sectionNumber":"Unless otherwise specifically stated, re","sectionType":"division","heading":"Unless otherwise specifically stated, reporting insurers are to report in accordance with the relevant Australian Accounting Standards.","content":"# Reporting Standard GRS 310.0\n\n# Statement of profit or loss and other comprehensive income\n\n## General instructions\n\nThese instructions assist completion of Reporting Standard GRS 310.0 Statement of profit or loss and other comprehensive income, which collects information relating to the licensed insurer’s profit or loss and other comprehensive income.\n\n### Reporting tables\n\nTables described in this reporting standard list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.\n\n### General accounting basis\n\n### Unless otherwise specifically stated, reporting insurers are to report in accordance with the relevant Australian Accounting Standards.\n\n### 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### IFRS taxonomy element reference\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(a) disclosure—an element of this type depicts a presentation or disclosure requirement of an IFRS/AASB Standard;\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### Definitions\n\nTerms that are highlighted in bold italics are defined in these instructions.  \n\n## Specific instructions\n\n### Reporting basis\n\nInformation in this Reporting Standard is to be completed by general insurers for each reporting period on a Level 1 (licensed insurer) basis.\n\nPlease disclose non-distinct investment components in Reporting Standard GRS 320.0 Liability Roll Forwards at:\n\n-   Part A: Liability Roll Forward 1, item 12: Investment components and premium refunds, item 18: Claims and other expenses paid, including investment components; and\n-   Part B: Liability Roll Forward 1, item 9: Investment components and premium refunds\n\nas applicable (refer to AASB 17.103 (c) and AASB 17.105 (a) (iii)).\n\nDirect business is any insurance business written / insurance contracts issued by the reporting insurer.\n\nInwards reinsurance is any reinsurance business written / reinsurance contracts issued by the reporting insurer.\n\n### Units of measurement\n\nReport values in this Reporting Standard in whole Australian dollars (AUD) with no decimal place.\n\nConvert amounts denominated in foreign currency to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates.\n\nReport losses and expenses as negative values.\n\nColumns for Licensed insurer\n\n| Column 1 | Report the total amount. |\n| -------- | ------------------------ |\n\n1.  Insurance revenue\n\n| Item 1     | Item 1 total insurance revenue is a derived item and is calculated as the sum of item 1.1 and item 1.2.Report this item in accordance with AASB 101.82 (a) (ii) Disclosure, AASB 17.80 (a) and AASB 17.83. |\n| ---------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 1.1   | Item 1.1 insurance revenue direct business is a derived item and is calculated as the sum of items 1.1.1 to 1.1.3 inclusive.                                                                               |\n| Item 1.1.1 | Report insurance revenue from direct business for contracts that existed at the transition date to which the entity has applied the modified retrospective approach.                                       |\n| Item 1.1.2 | Report insurance revenue from direct business for contracts that existed at the transition date to which the entity has applied the fair value approach.                                                   |\n| Item 1.1.3 | Report insurance revenue from direct business for all other contracts.                                                                                                                                     |\n| Item 1.2   | Item 1.2 insurance revenue from inwards reinsurance business is a derived item and is calculated as the sum of items 1.2.1 to 1.2.3 inclusive.                                                             |\n| Item 1.2.1 | Report insurance revenue from inwards reinsurance business for contracts that existed at the transition date to which the entity has applied the modified retrospective approach.                          |\n| Item 1.2.2 | Report insurance revenue from inwards reinsurance business for contracts that existed at the transition date to which the entity has applied the fair value approach.                                      |\n| Item 1.2.3 | Report insurance revenue from inwards reinsurance business for all other contracts.                                                                                                                        |\n\n2. Insurance service expense\n\n| Item 2     | Item 2 total insurance service expense is a derived item calculated as the sum of items 2.1 and 2.2.Report this item in accordance with AASB 101.82 (ab) Disclosure, AASB 17.80 (a) and AASB 17.84.                                                                                    |\n| ---------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 2.1   | Item 2.1 insurance service expense from direct business is a derived item and is calculated as the sum of items 2.1.1 to 2.1.6 inclusive.                                                                                                                                              |\n| Item 2.1.1 | Report incurred claims from direct business.                                                                                                                                                                                                                                           |\n| Item 2.1.2 | Report other insurance service expenses from direct business.Report insurance acquisition cash flows that have been recognised as expenses when incurred under AASB 17.59 (a) at this item.                                                                                            |\n| Item 2.1.3 | Report amortisation of insurance acquisition cash flows from direct business.                                                                                                                                                                                                          |\n| Item 2.1.4 | Report losses and reversal of losses on onerous contracts from direct business.Report this item in accordance with AASB 17.47-52.                                                                                                                                                      |\n| Item 2.1.5 | Report changes that relate to past service: changes to liabilities for incurred claims from direct business.Report this item in accordance with AASB 17.103 (b) (iii) Disclosure.                                                                                                      |\n| Item 2.1.6 | Report impairment losses/reversals on assets for insurance acquisition cash flows from direct business.Report this item in accordance with AASB 17 Appendix A, AASB 17.28B, AASB 17.28E and AASB 17.28F. APRA has interpreted this item to form part of insurance service expense.     |\n| Item 2.2   | Item 2.2 insurance service expenses from inwards reinsurance is a derived item and is calculated as the sum of items 2.2.1 to 2.2.6 inclusive.                                                                                                                                         |\n| Item 2.2.1 | Report incurred claims from inwards reinsurance.                                                                                                                                                                                                                                       |\n| Item 2.2.2 | Report other insurance service expenses from inwards reinsurance.Report insurance acquisition cash flows that have been recognised as expenses when incurred under AASB 17.59 (a) at this item.                                                                                        |\n| Item 2.2.3 | Report amortisation of insurance acquisition cash flows from inwards reinsurance.                                                                                                                                                                                                      |\n| Item 2.2.4 | Report losses and reversal of losses on onerous contracts from inwards reinsurance.Report this item in accordance with AASB 17.47-52.                                                                                                                                                  |\n| Item 2.2.5 | Report changes that relate to past service: changes to liabilities for incurred claims from inwards reinsurance.Report this item in accordance with AASB 17.103 (b) (iii) Disclosure.                                                                                                  |\n| Item 2.2.6 | Report impairment losses/reversals on assets for insurance acquisition cash flows from inwards reinsurance.Report this item in accordance with AASB 17 Appendix A, AASB 17.28B, AASB 17.28E and AASB 17.28F. APRA has interpreted this item to form part of insurance service expense. |\n\n3. Insurance service result before reinsurance contracts held\n\n| Item 3 | Item 3, insurance service result before reinsurance contracts held, is a derived item and is calculated as the sum of item 1 and item 2.Report this item in accordance with AASB 17 Appendix A. |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n4. Allocation of reinsurance premiums\n\n| Item 4 | Report allocation of reinsurance premiums.It is requested that the entity present this item separately from amounts recoverable from reinsurers reported at item 5.Report this item in accordance with AASB 17.86. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n5. Amounts recoverable from reinsurers\n\n| Item 5 | Report amounts recoverable from reinsurers. Include at this item reversals of recoveries of losses from the reinsurance contracts determined in accordance with AASB 17.66B for reinsurance contracts held.Report this item in accordance with AASB 17.86.The amount reported at this item should reconcile to item 8. ‘Amounts recoverable from reinsurers’ reported in Reporting Standard GRS 320.0 Liability Roll Forwards Part B: Reinsurance contracts held (outwards reinsurance by cedant/retrocedent) Liability Roll Forward 1 – Reconciliation of the remaining coverage and incurred claims (GRS 320.0 Part B RF1). |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n6. Net expense from reinsurance contracts held\n\n| Item 6 | Item 6 is a derived item and is calculated as the sum of item 4 and item 5. This item can be a net income or net expense.Report this item in accordance with AASB 17 Appendix A, AASB 101.82 (ac), AASB 17.82 and AASB 17.86. |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n7. Insurance service result\n\n| Item 7 | Item 7, insurance service result, is a derived item and is calculated as the sum of item 3 and item 6.Report this item in accordance with AASB 17.80 (a). |\n| ------ | --------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n8. Interest revenue calculated using the effective interest method\n\n| Item 8 | Report interest revenue calculated using the effective interest method.Report this item in accordance with AASB 101.82 (a) (i) and AASB 9 Appendix A. |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n9. Other interest and similar income\n\n| Item 9 | Report other interest and similar income include income that is not reported at item 8 and items 10 to 16. |\n| ------ | ---------------------------------------------------------------------------------------------------------- |\n\n10. Net gains/losses on financial assets at fair value through profit or loss\n\n| Item 10 | Report net gains/losses on financial assets at fair value through profit or loss.Report this item in accordance with AASB 132.11 and AASB 7.20 (a) (i). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n11. Net gains/losses on derecognition of financial assets measured at fair value through other comprehensive income\n\n| Item 11 | Report net gains or losses on derecognition of financial assets measured at fair value through other comprehensive income.Report this item in accordance with AASB 132.11 and AASB 7.20 (a) (viii). |\n| ------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n12. Net gains/(losses) on derecognition of financial assets measured at amortised cost\n\n| Item 12 | Report net gains/(losses) on derecognition of financial assets measured at amortised cost.Report this item in accordance with AASB 132.11 and AASB 101.82 (aa). |\n| ------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n13. Impairment loss on financial assets\n\n| Item 13 | Report impairment loss on financial assets.Report this item in accordance with AASB 9 Appendix A, AASB 132.11 and AASB 101.82 (ba). |\n| ------- | ----------------------------------------------------------------------------------------------------------------------------------- |\n\n14. Net gains from fair value adjustments to investment properties\n\n| Item 14 | Report net gains from fair value adjustments to investment properties.Report this item in accordance with AASB 140.5 and AASB 140.76 (d). |\n| ------- | ----------------------------------------------------------------------------------------------------------------------------------------- |\n\n15. Net foreign exchange income / expense\n\n| Item 15 | Report net foreign exchange income or expense.Report this item in accordance with AASB 121.52 (a) Common practice. |\n| ------- | ------------------------------------------------------------------------------------------------------------------ |\n\n16. Total investment result\n\n| Item 16 | Item 16 total investment result is a derived item and is calculated as the sum of items 8 to 15 inclusive. |\n| ------- | ---------------------------------------------------------------------------------------------------------- |\n\n17. Insurance finance expenses for insurance contracts issued\n\n| Item 17 | Report insurance finance expenses for insurance contracts issued. This item can be a net income or net expense.Report this item in accordance with AASB 17.87 and AASB 17 Appendix A. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n18. Reinsurance finance income for reinsurance contracts held\n\n| Item 18 | Report reinsurance finance income for reinsurance contracts held. This item can be a net income or net expense.Report this item in accordance with AASB 17.82 and AASB 17 Appendix A.Report the “Effect of changes in non-performance risk of reinsurers\" as reported in GRS 320.0 Part B RF1 item 14 at this item. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n19. Net insurance financial result through profit or loss\n\n| Item 19 | Item 19 is a derived item and is calculated as the sum of item 17 and item 18. This item can be a net income or net expense. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------- |\n\n20. Asset management services revenue\n\n| Item 20 | Report asset management services revenue. This includes revenue from investment management services accounted for in accordance with AASB 15.Report this item in accordance with AASB 15.113 (a) Disclosure and AASB 15.114 Disclosure. |\n| ------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n21. Share of profit/loss of associates and joint ventures accounted for using the equity method\n\n| Item 21 | Report the share of profit or loss of associates and joint ventures accounted for using the equity method.Report this item in accordance with AASB 101.82 (c) and AASB 128.3. |\n| ------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n22. Profit/loss from non-current assets and disposal groups classified as held for sale and not qualifying as discontinued operations\n\n| Item 22 | Report the profit or loss from non-current assets and disposal groups classified as held for sale and not qualifying as discontinued operations. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n23. Impairment loss for goodwill\n\n| Item 23 | Report impairment loss for goodwill.Report this item in accordance with AASB 138.8, AASB 3 Appendix A and AASB 3.B67 (d). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------- |\n\n24. Other income\n\n| Item 24 | Report other income that is not reported elsewhere in the Reporting Standard; including income from contracts outside the scope of AASB 17 (including AASB 15 Revenue from Contracts with Customers) under this item. Revenue from investment management services is to be reported at item 21. |\n| ------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n25. Other finance costs\n\n| Item 25 | Report other finance costs.Report this item in accordance with AASB 101.82 (b) and includes the interest expense on lease liabilities (based on AASB 16.49 and AASB 16.53 (b)). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n26. Other expenses\n\n| Item 26 | Report other expenses. Additionally, include expenses from contracts outside the scope of AASB 17 under this item. |\n| ------- | ------------------------------------------------------------------------------------------------------------------ |\n\n27. Profit/loss from continuing operations before tax\n\n| Item 27 | Item 27 is a derived item and is calculated as the sum of items 7, 16, and items 19 to 26 inclusive.Report this item in accordance with AASB 101.81A (a) Disclosure. |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n28. Income tax expense from continuing operations\n\n| Item 28 | Report income tax expense from continuing operations.Report this item in accordance with AASB 101.82 (d) and AASB 112.77. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------- |\n\n29. Profit/loss for the year from continuing operations after income tax\n\n| Item 29 | Item 29 profit/loss for the year from continuing operations after income tax is a derived item and is calculated as the sum of item 27 and item 28.Report this item in accordance with AASB 101.81A. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n30. Profit/loss from discontinued operations after income tax\n\n| Item 30 | Report profit or loss from discontinued operations after income tax.Report this item in accordance with AASB 101.82 (ea). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------- |\n\n31. Profit (loss) after income tax attributable to members of the company\n\n| Item 31 | Item 31 profit (loss) after income tax attributable to members of the company is a derived item and is calculated as the sum of item 29 and item 30.Report this item in accordance with AASB 101.81B (a) (ii). |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n### Other comprehensive income\n\n#### Items that may be reclassified to profit or loss in subsequent periods\n\nReport this item in accordance with AASB 101.82A (a) (ii).\n\n32. Change in fair value of financial assets at fair value through other comprehensive income\n\n| Item 32 | Report change in fair value of financial assets at fair value through other comprehensive income.Report this item in accordance with AASB 13 Appendix A, AASB 132.11 and AASB 7.20 (a) (viii). |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n33. Amount reclassified to profit or loss\n\n| Item 33 | Report amount reclassified to profit or loss.Report this item in accordance with AASB 7.20 (a) (viii). |\n| ------- | ------------------------------------------------------------------------------------------------------ |\n\n34. Insurance finance expenses for insurance contracts issued\n\n| Item 34 | Report insurance finance expenses for insurance contracts issued. This item can be a net income or net expense.Report this item in accordance with AASB 17.90 and AASB 17 Appendix A. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n35. Reinsurance finance income for reinsurance contracts held\n\n| Item 35 | Report reinsurance finance income for reinsurance contracts held. This item can be a net income or net expense.Report this item in accordance with AASB 17.82, AASB 17.90 and AASB 17 Appendix A. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n36. Net insurance financial result through other comprehensive income\n\n| Item 36 | Item 36 is a derived item and is calculated as the sum of item 34 and item 35. This item can be a net income or net expense. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------- |\n\n37. Share of other comprehensive income of associates and joint ventures accounted for using the equity method\n\n| Item 37 | Report the share of other comprehensive income of associates and joint ventures accounted for using the equity method.Report this item in accordance with AASB 101.82A (b) (ii). |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n38. Income tax relating to items that will be reclassified\n\n| Item 38 | Report income tax relating to items that will be reclassified.Report this item in accordance with AASB 101.91. |\n| ------- | -------------------------------------------------------------------------------------------------------------- |\n\n#### Items that will not be reclassified to profit or loss\n\nReport this item in accordance with AASB 101.82A (a) (i).\n\n39. Revaluation of land and buildings\n\n| Item 39 | Report revaluation of land and buildings.Report this item in accordance with AASB 116.39. |\n| ------- | ----------------------------------------------------------------------------------------- |\n\n40. Share of other comprehensive income of associates and joint ventures accounted for using the equity method\n\n| Item 40 | Report share of other comprehensive income of associates and joint ventures accounted for using the equity method.Report this item in accordance with AASB 101.82A (b) (i) and AASB 128.3. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n41. Remeasurements of post-employment benefit obligations, before tax\n\n| Item 41 | Report remeasurements of post-employment benefit obligations, before tax.Report this item in accordance with AASB 119.120 (c). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------ |\n\n42. Income tax relating to items that will not be reclassified\n\n| Item 42 | Report income tax relating to items that will not be reclassified.Report this item in accordance with AASB 101.91. |\n| ------- | ------------------------------------------------------------------------------------------------------------------ |\n\n43. Total other comprehensive income\n\n| Item 43 | Item 43 total other comprehensive income is a derived item and is calculated as the sum of item 32, 33, and items 36 to 42 inclusive.Report this item in accordance with AASB 101.81A (b). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n44. Total comprehensive income\n\n| Item 44 | Item 44 total comprehensive income is a derived item and is calculated as the sum of item 31 and item 43.Report this item in accordance with AASB 101.81A (c). |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------- |","sortOrder":19},{"sectionNumber":"References to Australian Accounting Stan","sectionType":"division","heading":"References to Australian Accounting Standards","content":"### 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.","sortOrder":20},{"sectionNumber":"IFRS taxonomy element reference","sectionType":"division","heading":"IFRS taxonomy element reference","content":"### IFRS taxonomy element reference\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(a) disclosure—an element of this type depicts a presentation or disclosure requirement of an IFRS/AASB Standard;\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.","sortOrder":21},{"sectionNumber":"Definitions","sectionType":"division","heading":"Definitions","content":"### Definitions\n\nTerms that are highlighted in bold italics are defined in these instructions.","sortOrder":22},{"sectionNumber":"Specific instructions","sectionType":"part","heading":"Specific instructions","content":"# Reporting Standard GRS 310.0\n\n# Statement of profit or loss and other comprehensive income\n\n## General instructions\n\nThese instructions assist completion of Reporting Standard GRS 310.0 Statement of profit or loss and other comprehensive income, which collects information relating to the licensed insurer’s profit or loss and other comprehensive income.\n\n### Reporting tables\n\nTables described in this reporting standard list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.\n\n### General accounting basis\n\n### Unless otherwise specifically stated, reporting insurers are to report in accordance with the relevant Australian Accounting Standards.\n\n### 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### IFRS taxonomy element reference\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(a) disclosure—an element of this type depicts a presentation or disclosure requirement of an IFRS/AASB Standard;\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### Definitions\n\nTerms that are highlighted in bold italics are defined in these instructions.  \n\n## Specific instructions\n\n### Reporting basis\n\nInformation in this Reporting Standard is to be completed by general insurers for each reporting period on a Level 1 (licensed insurer) basis.\n\nPlease disclose non-distinct investment components in Reporting Standard GRS 320.0 Liability Roll Forwards at:\n\n-   Part A: Liability Roll Forward 1, item 12: Investment components and premium refunds, item 18: Claims and other expenses paid, including investment components; and\n-   Part B: Liability Roll Forward 1, item 9: Investment components and premium refunds\n\nas applicable (refer to AASB 17.103 (c) and AASB 17.105 (a) (iii)).\n\nDirect business is any insurance business written / insurance contracts issued by the reporting insurer.\n\nInwards reinsurance is any reinsurance business written / reinsurance contracts issued by the reporting insurer.\n\n### Units of measurement\n\nReport values in this Reporting Standard in whole Australian dollars (AUD) with no decimal place.\n\nConvert amounts denominated in foreign currency to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates.\n\nReport losses and expenses as negative values.\n\nColumns for Licensed insurer\n\n| Column 1 | Report the total amount. |\n| -------- | ------------------------ |\n\n1.  Insurance revenue\n\n| Item 1     | Item 1 total insurance revenue is a derived item and is calculated as the sum of item 1.1 and item 1.2.Report this item in accordance with AASB 101.82 (a) (ii) Disclosure, AASB 17.80 (a) and AASB 17.83. |\n| ---------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 1.1   | Item 1.1 insurance revenue direct business is a derived item and is calculated as the sum of items 1.1.1 to 1.1.3 inclusive.                                                                               |\n| Item 1.1.1 | Report insurance revenue from direct business for contracts that existed at the transition date to which the entity has applied the modified retrospective approach.                                       |\n| Item 1.1.2 | Report insurance revenue from direct business for contracts that existed at the transition date to which the entity has applied the fair value approach.                                                   |\n| Item 1.1.3 | Report insurance revenue from direct business for all other contracts.                                                                                                                                     |\n| Item 1.2   | Item 1.2 insurance revenue from inwards reinsurance business is a derived item and is calculated as the sum of items 1.2.1 to 1.2.3 inclusive.                                                             |\n| Item 1.2.1 | Report insurance revenue from inwards reinsurance business for contracts that existed at the transition date to which the entity has applied the modified retrospective approach.                          |\n| Item 1.2.2 | Report insurance revenue from inwards reinsurance business for contracts that existed at the transition date to which the entity has applied the fair value approach.                                      |\n| Item 1.2.3 | Report insurance revenue from inwards reinsurance business for all other contracts.                                                                                                                        |\n\n2. Insurance service expense\n\n| Item 2     | Item 2 total insurance service expense is a derived item calculated as the sum of items 2.1 and 2.2.Report this item in accordance with AASB 101.82 (ab) Disclosure, AASB 17.80 (a) and AASB 17.84.                                                                                    |\n| ---------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 2.1   | Item 2.1 insurance service expense from direct business is a derived item and is calculated as the sum of items 2.1.1 to 2.1.6 inclusive.                                                                                                                                              |\n| Item 2.1.1 | Report incurred claims from direct business.                                                                                                                                                                                                                                           |\n| Item 2.1.2 | Report other insurance service expenses from direct business.Report insurance acquisition cash flows that have been recognised as expenses when incurred under AASB 17.59 (a) at this item.                                                                                            |\n| Item 2.1.3 | Report amortisation of insurance acquisition cash flows from direct business.                                                                                                                                                                                                          |\n| Item 2.1.4 | Report losses and reversal of losses on onerous contracts from direct business.Report this item in accordance with AASB 17.47-52.                                                                                                                                                      |\n| Item 2.1.5 | Report changes that relate to past service: changes to liabilities for incurred claims from direct business.Report this item in accordance with AASB 17.103 (b) (iii) Disclosure.                                                                                                      |\n| Item 2.1.6 | Report impairment losses/reversals on assets for insurance acquisition cash flows from direct business.Report this item in accordance with AASB 17 Appendix A, AASB 17.28B, AASB 17.28E and AASB 17.28F. APRA has interpreted this item to form part of insurance service expense.     |\n| Item 2.2   | Item 2.2 insurance service expenses from inwards reinsurance is a derived item and is calculated as the sum of items 2.2.1 to 2.2.6 inclusive.                                                                                                                                         |\n| Item 2.2.1 | Report incurred claims from inwards reinsurance.                                                                                                                                                                                                                                       |\n| Item 2.2.2 | Report other insurance service expenses from inwards reinsurance.Report insurance acquisition cash flows that have been recognised as expenses when incurred under AASB 17.59 (a) at this item.                                                                                        |\n| Item 2.2.3 | Report amortisation of insurance acquisition cash flows from inwards reinsurance.                                                                                                                                                                                                      |\n| Item 2.2.4 | Report losses and reversal of losses on onerous contracts from inwards reinsurance.Report this item in accordance with AASB 17.47-52.                                                                                                                                                  |\n| Item 2.2.5 | Report changes that relate to past service: changes to liabilities for incurred claims from inwards reinsurance.Report this item in accordance with AASB 17.103 (b) (iii) Disclosure.                                                                                                  |\n| Item 2.2.6 | Report impairment losses/reversals on assets for insurance acquisition cash flows from inwards reinsurance.Report this item in accordance with AASB 17 Appendix A, AASB 17.28B, AASB 17.28E and AASB 17.28F. APRA has interpreted this item to form part of insurance service expense. |\n\n3. Insurance service result before reinsurance contracts held\n\n| Item 3 | Item 3, insurance service result before reinsurance contracts held, is a derived item and is calculated as the sum of item 1 and item 2.Report this item in accordance with AASB 17 Appendix A. |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n4. Allocation of reinsurance premiums\n\n| Item 4 | Report allocation of reinsurance premiums.It is requested that the entity present this item separately from amounts recoverable from reinsurers reported at item 5.Report this item in accordance with AASB 17.86. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n5. Amounts recoverable from reinsurers\n\n| Item 5 | Report amounts recoverable from reinsurers. Include at this item reversals of recoveries of losses from the reinsurance contracts determined in accordance with AASB 17.66B for reinsurance contracts held.Report this item in accordance with AASB 17.86.The amount reported at this item should reconcile to item 8. ‘Amounts recoverable from reinsurers’ reported in Reporting Standard GRS 320.0 Liability Roll Forwards Part B: Reinsurance contracts held (outwards reinsurance by cedant/retrocedent) Liability Roll Forward 1 – Reconciliation of the remaining coverage and incurred claims (GRS 320.0 Part B RF1). |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n6. Net expense from reinsurance contracts held\n\n| Item 6 | Item 6 is a derived item and is calculated as the sum of item 4 and item 5. This item can be a net income or net expense.Report this item in accordance with AASB 17 Appendix A, AASB 101.82 (ac), AASB 17.82 and AASB 17.86. |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n7. Insurance service result\n\n| Item 7 | Item 7, insurance service result, is a derived item and is calculated as the sum of item 3 and item 6.Report this item in accordance with AASB 17.80 (a). |\n| ------ | --------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n8. Interest revenue calculated using the effective interest method\n\n| Item 8 | Report interest revenue calculated using the effective interest method.Report this item in accordance with AASB 101.82 (a) (i) and AASB 9 Appendix A. |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n9. Other interest and similar income\n\n| Item 9 | Report other interest and similar income include income that is not reported at item 8 and items 10 to 16. |\n| ------ | ---------------------------------------------------------------------------------------------------------- |\n\n10. Net gains/losses on financial assets at fair value through profit or loss\n\n| Item 10 | Report net gains/losses on financial assets at fair value through profit or loss.Report this item in accordance with AASB 132.11 and AASB 7.20 (a) (i). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n11. Net gains/losses on derecognition of financial assets measured at fair value through other comprehensive income\n\n| Item 11 | Report net gains or losses on derecognition of financial assets measured at fair value through other comprehensive income.Report this item in accordance with AASB 132.11 and AASB 7.20 (a) (viii). |\n| ------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n12. Net gains/(losses) on derecognition of financial assets measured at amortised cost\n\n| Item 12 | Report net gains/(losses) on derecognition of financial assets measured at amortised cost.Report this item in accordance with AASB 132.11 and AASB 101.82 (aa). |\n| ------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n13. Impairment loss on financial assets\n\n| Item 13 | Report impairment loss on financial assets.Report this item in accordance with AASB 9 Appendix A, AASB 132.11 and AASB 101.82 (ba). |\n| ------- | ----------------------------------------------------------------------------------------------------------------------------------- |\n\n14. Net gains from fair value adjustments to investment properties\n\n| Item 14 | Report net gains from fair value adjustments to investment properties.Report this item in accordance with AASB 140.5 and AASB 140.76 (d). |\n| ------- | ----------------------------------------------------------------------------------------------------------------------------------------- |\n\n15. Net foreign exchange income / expense\n\n| Item 15 | Report net foreign exchange income or expense.Report this item in accordance with AASB 121.52 (a) Common practice. |\n| ------- | ------------------------------------------------------------------------------------------------------------------ |\n\n16. Total investment result\n\n| Item 16 | Item 16 total investment result is a derived item and is calculated as the sum of items 8 to 15 inclusive. |\n| ------- | ---------------------------------------------------------------------------------------------------------- |\n\n17. Insurance finance expenses for insurance contracts issued\n\n| Item 17 | Report insurance finance expenses for insurance contracts issued. This item can be a net income or net expense.Report this item in accordance with AASB 17.87 and AASB 17 Appendix A. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n18. Reinsurance finance income for reinsurance contracts held\n\n| Item 18 | Report reinsurance finance income for reinsurance contracts held. This item can be a net income or net expense.Report this item in accordance with AASB 17.82 and AASB 17 Appendix A.Report the “Effect of changes in non-performance risk of reinsurers\" as reported in GRS 320.0 Part B RF1 item 14 at this item. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n19. Net insurance financial result through profit or loss\n\n| Item 19 | Item 19 is a derived item and is calculated as the sum of item 17 and item 18. This item can be a net income or net expense. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------- |\n\n20. Asset management services revenue\n\n| Item 20 | Report asset management services revenue. This includes revenue from investment management services accounted for in accordance with AASB 15.Report this item in accordance with AASB 15.113 (a) Disclosure and AASB 15.114 Disclosure. |\n| ------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n21. Share of profit/loss of associates and joint ventures accounted for using the equity method\n\n| Item 21 | Report the share of profit or loss of associates and joint ventures accounted for using the equity method.Report this item in accordance with AASB 101.82 (c) and AASB 128.3. |\n| ------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n22. Profit/loss from non-current assets and disposal groups classified as held for sale and not qualifying as discontinued operations\n\n| Item 22 | Report the profit or loss from non-current assets and disposal groups classified as held for sale and not qualifying as discontinued operations. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n23. Impairment loss for goodwill\n\n| Item 23 | Report impairment loss for goodwill.Report this item in accordance with AASB 138.8, AASB 3 Appendix A and AASB 3.B67 (d). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------- |\n\n24. Other income\n\n| Item 24 | Report other income that is not reported elsewhere in the Reporting Standard; including income from contracts outside the scope of AASB 17 (including AASB 15 Revenue from Contracts with Customers) under this item. Revenue from investment management services is to be reported at item 21. |\n| ------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n25. Other finance costs\n\n| Item 25 | Report other finance costs.Report this item in accordance with AASB 101.82 (b) and includes the interest expense on lease liabilities (based on AASB 16.49 and AASB 16.53 (b)). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n26. Other expenses\n\n| Item 26 | Report other expenses. Additionally, include expenses from contracts outside the scope of AASB 17 under this item. |\n| ------- | ------------------------------------------------------------------------------------------------------------------ |\n\n27. Profit/loss from continuing operations before tax\n\n| Item 27 | Item 27 is a derived item and is calculated as the sum of items 7, 16, and items 19 to 26 inclusive.Report this item in accordance with AASB 101.81A (a) Disclosure. |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n28. Income tax expense from continuing operations\n\n| Item 28 | Report income tax expense from continuing operations.Report this item in accordance with AASB 101.82 (d) and AASB 112.77. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------- |\n\n29. Profit/loss for the year from continuing operations after income tax\n\n| Item 29 | Item 29 profit/loss for the year from continuing operations after income tax is a derived item and is calculated as the sum of item 27 and item 28.Report this item in accordance with AASB 101.81A. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n30. Profit/loss from discontinued operations after income tax\n\n| Item 30 | Report profit or loss from discontinued operations after income tax.Report this item in accordance with AASB 101.82 (ea). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------- |\n\n31. Profit (loss) after income tax attributable to members of the company\n\n| Item 31 | Item 31 profit (loss) after income tax attributable to members of the company is a derived item and is calculated as the sum of item 29 and item 30.Report this item in accordance with AASB 101.81B (a) (ii). |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n### Other comprehensive income\n\n#### Items that may be reclassified to profit or loss in subsequent periods\n\nReport this item in accordance with AASB 101.82A (a) (ii).\n\n32. Change in fair value of financial assets at fair value through other comprehensive income\n\n| Item 32 | Report change in fair value of financial assets at fair value through other comprehensive income.Report this item in accordance with AASB 13 Appendix A, AASB 132.11 and AASB 7.20 (a) (viii). |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n33. Amount reclassified to profit or loss\n\n| Item 33 | Report amount reclassified to profit or loss.Report this item in accordance with AASB 7.20 (a) (viii). |\n| ------- | ------------------------------------------------------------------------------------------------------ |\n\n34. Insurance finance expenses for insurance contracts issued\n\n| Item 34 | Report insurance finance expenses for insurance contracts issued. This item can be a net income or net expense.Report this item in accordance with AASB 17.90 and AASB 17 Appendix A. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n35. Reinsurance finance income for reinsurance contracts held\n\n| Item 35 | Report reinsurance finance income for reinsurance contracts held. This item can be a net income or net expense.Report this item in accordance with AASB 17.82, AASB 17.90 and AASB 17 Appendix A. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n36. Net insurance financial result through other comprehensive income\n\n| Item 36 | Item 36 is a derived item and is calculated as the sum of item 34 and item 35. This item can be a net income or net expense. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------- |\n\n37. Share of other comprehensive income of associates and joint ventures accounted for using the equity method\n\n| Item 37 | Report the share of other comprehensive income of associates and joint ventures accounted for using the equity method.Report this item in accordance with AASB 101.82A (b) (ii). |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n38. Income tax relating to items that will be reclassified\n\n| Item 38 | Report income tax relating to items that will be reclassified.Report this item in accordance with AASB 101.91. |\n| ------- | -------------------------------------------------------------------------------------------------------------- |\n\n#### Items that will not be reclassified to profit or loss\n\nReport this item in accordance with AASB 101.82A (a) (i).\n\n39. Revaluation of land and buildings\n\n| Item 39 | Report revaluation of land and buildings.Report this item in accordance with AASB 116.39. |\n| ------- | ----------------------------------------------------------------------------------------- |\n\n40. Share of other comprehensive income of associates and joint ventures accounted for using the equity method\n\n| Item 40 | Report share of other comprehensive income of associates and joint ventures accounted for using the equity method.Report this item in accordance with AASB 101.82A (b) (i) and AASB 128.3. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n41. Remeasurements of post-employment benefit obligations, before tax\n\n| Item 41 | Report remeasurements of post-employment benefit obligations, before tax.Report this item in accordance with AASB 119.120 (c). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------ |\n\n42. Income tax relating to items that will not be reclassified\n\n| Item 42 | Report income tax relating to items that will not be reclassified.Report this item in accordance with AASB 101.91. |\n| ------- | ------------------------------------------------------------------------------------------------------------------ |\n\n43. Total other comprehensive income\n\n| Item 43 | Item 43 total other comprehensive income is a derived item and is calculated as the sum of item 32, 33, and items 36 to 42 inclusive.Report this item in accordance with AASB 101.81A (b). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n44. Total comprehensive income\n\n| Item 44 | Item 44 total comprehensive income is a derived item and is calculated as the sum of item 31 and item 43.Report this item in accordance with AASB 101.81A (c). |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------- |","sortOrder":23},{"sectionNumber":"Reporting basis","sectionType":"division","heading":"Reporting basis","content":"### Reporting basis\n\nInformation in this Reporting Standard is to be completed by general insurers for each reporting period on a Level 1 (licensed insurer) basis.\n\nPlease disclose non-distinct investment components in Reporting Standard GRS 320.0 Liability Roll Forwards at:\n\n-   Part A: Liability Roll Forward 1, item 12: Investment components and premium refunds, item 18: Claims and other expenses paid, including investment components; and\n-   Part B: Liability Roll Forward 1, item 9: Investment components and premium refunds\n\nas applicable (refer to AASB 17.103 (c) and AASB 17.105 (a) (iii)).\n\nDirect business is any insurance business written / insurance contracts issued by the reporting insurer.\n\nInwards reinsurance is any reinsurance business written / reinsurance contracts issued by the reporting insurer.","sortOrder":24},{"sectionNumber":"Units of measurement","sectionType":"division","heading":"Units of measurement","content":"### Units of measurement\n\nReport values in this Reporting Standard in whole Australian dollars (AUD) with no decimal place.\n\nConvert amounts denominated in foreign currency to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates.\n\nReport losses and expenses as negative values.\n\nColumns for Licensed insurer\n\n| Column 1 | Report the total amount. |\n| -------- | ------------------------ |\n\n1.  Insurance revenue\n\n| Item 1     | Item 1 total insurance revenue is a derived item and is calculated as the sum of item 1.1 and item 1.2.Report this item in accordance with AASB 101.82 (a) (ii) Disclosure, AASB 17.80 (a) and AASB 17.83. |\n| ---------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 1.1   | Item 1.1 insurance revenue direct business is a derived item and is calculated as the sum of items 1.1.1 to 1.1.3 inclusive.                                                                               |\n| Item 1.1.1 | Report insurance revenue from direct business for contracts that existed at the transition date to which the entity has applied the modified retrospective approach.                                       |\n| Item 1.1.2 | Report insurance revenue from direct business for contracts that existed at the transition date to which the entity has applied the fair value approach.                                                   |\n| Item 1.1.3 | Report insurance revenue from direct business for all other contracts.                                                                                                                                     |\n| Item 1.2   | Item 1.2 insurance revenue from inwards reinsurance business is a derived item and is calculated as the sum of items 1.2.1 to 1.2.3 inclusive.                                                             |\n| Item 1.2.1 | Report insurance revenue from inwards reinsurance business for contracts that existed at the transition date to which the entity has applied the modified retrospective approach.                          |\n| Item 1.2.2 | Report insurance revenue from inwards reinsurance business for contracts that existed at the transition date to which the entity has applied the fair value approach.                                      |\n| Item 1.2.3 | Report insurance revenue from inwards reinsurance business for all other contracts.                                                                                                                        |\n\n2. Insurance service expense\n\n| Item 2     | Item 2 total insurance service expense is a derived item calculated as the sum of items 2.1 and 2.2.Report this item in accordance with AASB 101.82 (ab) Disclosure, AASB 17.80 (a) and AASB 17.84.                                                                                    |\n| ---------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 2.1   | Item 2.1 insurance service expense from direct business is a derived item and is calculated as the sum of items 2.1.1 to 2.1.6 inclusive.                                                                                                                                              |\n| Item 2.1.1 | Report incurred claims from direct business.                                                                                                                                                                                                                                           |\n| Item 2.1.2 | Report other insurance service expenses from direct business.Report insurance acquisition cash flows that have been recognised as expenses when incurred under AASB 17.59 (a) at this item.                                                                                            |\n| Item 2.1.3 | Report amortisation of insurance acquisition cash flows from direct business.                                                                                                                                                                                                          |\n| Item 2.1.4 | Report losses and reversal of losses on onerous contracts from direct business.Report this item in accordance with AASB 17.47-52.                                                                                                                                                      |\n| Item 2.1.5 | Report changes that relate to past service: changes to liabilities for incurred claims from direct business.Report this item in accordance with AASB 17.103 (b) (iii) Disclosure.                                                                                                      |\n| Item 2.1.6 | Report impairment losses/reversals on assets for insurance acquisition cash flows from direct business.Report this item in accordance with AASB 17 Appendix A, AASB 17.28B, AASB 17.28E and AASB 17.28F. APRA has interpreted this item to form part of insurance service expense.     |\n| Item 2.2   | Item 2.2 insurance service expenses from inwards reinsurance is a derived item and is calculated as the sum of items 2.2.1 to 2.2.6 inclusive.                                                                                                                                         |\n| Item 2.2.1 | Report incurred claims from inwards reinsurance.                                                                                                                                                                                                                                       |\n| Item 2.2.2 | Report other insurance service expenses from inwards reinsurance.Report insurance acquisition cash flows that have been recognised as expenses when incurred under AASB 17.59 (a) at this item.                                                                                        |\n| Item 2.2.3 | Report amortisation of insurance acquisition cash flows from inwards reinsurance.                                                                                                                                                                                                      |\n| Item 2.2.4 | Report losses and reversal of losses on onerous contracts from inwards reinsurance.Report this item in accordance with AASB 17.47-52.                                                                                                                                                  |\n| Item 2.2.5 | Report changes that relate to past service: changes to liabilities for incurred claims from inwards reinsurance.Report this item in accordance with AASB 17.103 (b) (iii) Disclosure.                                                                                                  |\n| Item 2.2.6 | Report impairment losses/reversals on assets for insurance acquisition cash flows from inwards reinsurance.Report this item in accordance with AASB 17 Appendix A, AASB 17.28B, AASB 17.28E and AASB 17.28F. APRA has interpreted this item to form part of insurance service expense. |\n\n3. Insurance service result before reinsurance contracts held\n\n| Item 3 | Item 3, insurance service result before reinsurance contracts held, is a derived item and is calculated as the sum of item 1 and item 2.Report this item in accordance with AASB 17 Appendix A. |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n4. Allocation of reinsurance premiums\n\n| Item 4 | Report allocation of reinsurance premiums.It is requested that the entity present this item separately from amounts recoverable from reinsurers reported at item 5.Report this item in accordance with AASB 17.86. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n5. Amounts recoverable from reinsurers\n\n| Item 5 | Report amounts recoverable from reinsurers. Include at this item reversals of recoveries of losses from the reinsurance contracts determined in accordance with AASB 17.66B for reinsurance contracts held.Report this item in accordance with AASB 17.86.The amount reported at this item should reconcile to item 8. ‘Amounts recoverable from reinsurers’ reported in Reporting Standard GRS 320.0 Liability Roll Forwards Part B: Reinsurance contracts held (outwards reinsurance by cedant/retrocedent) Liability Roll Forward 1 – Reconciliation of the remaining coverage and incurred claims (GRS 320.0 Part B RF1). |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n6. Net expense from reinsurance contracts held\n\n| Item 6 | Item 6 is a derived item and is calculated as the sum of item 4 and item 5. This item can be a net income or net expense.Report this item in accordance with AASB 17 Appendix A, AASB 101.82 (ac), AASB 17.82 and AASB 17.86. |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n7. Insurance service result\n\n| Item 7 | Item 7, insurance service result, is a derived item and is calculated as the sum of item 3 and item 6.Report this item in accordance with AASB 17.80 (a). |\n| ------ | --------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n8. Interest revenue calculated using the effective interest method\n\n| Item 8 | Report interest revenue calculated using the effective interest method.Report this item in accordance with AASB 101.82 (a) (i) and AASB 9 Appendix A. |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n9. Other interest and similar income\n\n| Item 9 | Report other interest and similar income include income that is not reported at item 8 and items 10 to 16. |\n| ------ | ---------------------------------------------------------------------------------------------------------- |\n\n10. Net gains/losses on financial assets at fair value through profit or loss\n\n| Item 10 | Report net gains/losses on financial assets at fair value through profit or loss.Report this item in accordance with AASB 132.11 and AASB 7.20 (a) (i). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n11. Net gains/losses on derecognition of financial assets measured at fair value through other comprehensive income\n\n| Item 11 | Report net gains or losses on derecognition of financial assets measured at fair value through other comprehensive income.Report this item in accordance with AASB 132.11 and AASB 7.20 (a) (viii). |\n| ------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n12. Net gains/(losses) on derecognition of financial assets measured at amortised cost\n\n| Item 12 | Report net gains/(losses) on derecognition of financial assets measured at amortised cost.Report this item in accordance with AASB 132.11 and AASB 101.82 (aa). |\n| ------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n13. Impairment loss on financial assets\n\n| Item 13 | Report impairment loss on financial assets.Report this item in accordance with AASB 9 Appendix A, AASB 132.11 and AASB 101.82 (ba). |\n| ------- | ----------------------------------------------------------------------------------------------------------------------------------- |\n\n14. Net gains from fair value adjustments to investment properties\n\n| Item 14 | Report net gains from fair value adjustments to investment properties.Report this item in accordance with AASB 140.5 and AASB 140.76 (d). |\n| ------- | ----------------------------------------------------------------------------------------------------------------------------------------- |\n\n15. Net foreign exchange income / expense\n\n| Item 15 | Report net foreign exchange income or expense.Report this item in accordance with AASB 121.52 (a) Common practice. |\n| ------- | ------------------------------------------------------------------------------------------------------------------ |\n\n16. Total investment result\n\n| Item 16 | Item 16 total investment result is a derived item and is calculated as the sum of items 8 to 15 inclusive. |\n| ------- | ---------------------------------------------------------------------------------------------------------- |\n\n17. Insurance finance expenses for insurance contracts issued\n\n| Item 17 | Report insurance finance expenses for insurance contracts issued. This item can be a net income or net expense.Report this item in accordance with AASB 17.87 and AASB 17 Appendix A. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n18. Reinsurance finance income for reinsurance contracts held\n\n| Item 18 | Report reinsurance finance income for reinsurance contracts held. This item can be a net income or net expense.Report this item in accordance with AASB 17.82 and AASB 17 Appendix A.Report the “Effect of changes in non-performance risk of reinsurers\" as reported in GRS 320.0 Part B RF1 item 14 at this item. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n19. Net insurance financial result through profit or loss\n\n| Item 19 | Item 19 is a derived item and is calculated as the sum of item 17 and item 18. This item can be a net income or net expense. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------- |\n\n20. Asset management services revenue\n\n| Item 20 | Report asset management services revenue. This includes revenue from investment management services accounted for in accordance with AASB 15.Report this item in accordance with AASB 15.113 (a) Disclosure and AASB 15.114 Disclosure. |\n| ------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n21. Share of profit/loss of associates and joint ventures accounted for using the equity method\n\n| Item 21 | Report the share of profit or loss of associates and joint ventures accounted for using the equity method.Report this item in accordance with AASB 101.82 (c) and AASB 128.3. |\n| ------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n22. Profit/loss from non-current assets and disposal groups classified as held for sale and not qualifying as discontinued operations\n\n| Item 22 | Report the profit or loss from non-current assets and disposal groups classified as held for sale and not qualifying as discontinued operations. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n23. Impairment loss for goodwill\n\n| Item 23 | Report impairment loss for goodwill.Report this item in accordance with AASB 138.8, AASB 3 Appendix A and AASB 3.B67 (d). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------- |\n\n24. Other income\n\n| Item 24 | Report other income that is not reported elsewhere in the Reporting Standard; including income from contracts outside the scope of AASB 17 (including AASB 15 Revenue from Contracts with Customers) under this item. Revenue from investment management services is to be reported at item 21. |\n| ------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n25. Other finance costs\n\n| Item 25 | Report other finance costs.Report this item in accordance with AASB 101.82 (b) and includes the interest expense on lease liabilities (based on AASB 16.49 and AASB 16.53 (b)). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n26. Other expenses\n\n| Item 26 | Report other expenses. Additionally, include expenses from contracts outside the scope of AASB 17 under this item. |\n| ------- | ------------------------------------------------------------------------------------------------------------------ |\n\n27. Profit/loss from continuing operations before tax\n\n| Item 27 | Item 27 is a derived item and is calculated as the sum of items 7, 16, and items 19 to 26 inclusive.Report this item in accordance with AASB 101.81A (a) Disclosure. |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n28. Income tax expense from continuing operations\n\n| Item 28 | Report income tax expense from continuing operations.Report this item in accordance with AASB 101.82 (d) and AASB 112.77. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------- |\n\n29. Profit/loss for the year from continuing operations after income tax\n\n| Item 29 | Item 29 profit/loss for the year from continuing operations after income tax is a derived item and is calculated as the sum of item 27 and item 28.Report this item in accordance with AASB 101.81A. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n30. Profit/loss from discontinued operations after income tax\n\n| Item 30 | Report profit or loss from discontinued operations after income tax.Report this item in accordance with AASB 101.82 (ea). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------- |\n\n31. Profit (loss) after income tax attributable to members of the company\n\n| Item 31 | Item 31 profit (loss) after income tax attributable to members of the company is a derived item and is calculated as the sum of item 29 and item 30.Report this item in accordance with AASB 101.81B (a) (ii). |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |","sortOrder":25},{"sectionNumber":"Other comprehensive income","sectionType":"division","heading":"Other comprehensive income","content":"# Reporting Standard GRS 310.0\n\n# Statement of profit or loss and other comprehensive income\n\n## General instructions\n\nThese instructions assist completion of Reporting Standard GRS 310.0 Statement of profit or loss and other comprehensive income, which collects information relating to the licensed insurer’s profit or loss and other comprehensive income.\n\n### Reporting tables\n\nTables described in this reporting standard list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.\n\n### General accounting basis\n\n### Unless otherwise specifically stated, reporting insurers are to report in accordance with the relevant Australian Accounting Standards.\n\n### 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### IFRS taxonomy element reference\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(a) disclosure—an element of this type depicts a presentation or disclosure requirement of an IFRS/AASB Standard;\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### Definitions\n\nTerms that are highlighted in bold italics are defined in these instructions.  \n\n## Specific instructions\n\n### Reporting basis\n\nInformation in this Reporting Standard is to be completed by general insurers for each reporting period on a Level 1 (licensed insurer) basis.\n\nPlease disclose non-distinct investment components in Reporting Standard GRS 320.0 Liability Roll Forwards at:\n\n-   Part A: Liability Roll Forward 1, item 12: Investment components and premium refunds, item 18: Claims and other expenses paid, including investment components; and\n-   Part B: Liability Roll Forward 1, item 9: Investment components and premium refunds\n\nas applicable (refer to AASB 17.103 (c) and AASB 17.105 (a) (iii)).\n\nDirect business is any insurance business written / insurance contracts issued by the reporting insurer.\n\nInwards reinsurance is any reinsurance business written / reinsurance contracts issued by the reporting insurer.\n\n### Units of measurement\n\nReport values in this Reporting Standard in whole Australian dollars (AUD) with no decimal place.\n\nConvert amounts denominated in foreign currency to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates.\n\nReport losses and expenses as negative values.\n\nColumns for Licensed insurer\n\n| Column 1 | Report the total amount. |\n| -------- | ------------------------ |\n\n1.  Insurance revenue\n\n| Item 1     | Item 1 total insurance revenue is a derived item and is calculated as the sum of item 1.1 and item 1.2.Report this item in accordance with AASB 101.82 (a) (ii) Disclosure, AASB 17.80 (a) and AASB 17.83. |\n| ---------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 1.1   | Item 1.1 insurance revenue direct business is a derived item and is calculated as the sum of items 1.1.1 to 1.1.3 inclusive.                                                                               |\n| Item 1.1.1 | Report insurance revenue from direct business for contracts that existed at the transition date to which the entity has applied the modified retrospective approach.                                       |\n| Item 1.1.2 | Report insurance revenue from direct business for contracts that existed at the transition date to which the entity has applied the fair value approach.                                                   |\n| Item 1.1.3 | Report insurance revenue from direct business for all other contracts.                                                                                                                                     |\n| Item 1.2   | Item 1.2 insurance revenue from inwards reinsurance business is a derived item and is calculated as the sum of items 1.2.1 to 1.2.3 inclusive.                                                             |\n| Item 1.2.1 | Report insurance revenue from inwards reinsurance business for contracts that existed at the transition date to which the entity has applied the modified retrospective approach.                          |\n| Item 1.2.2 | Report insurance revenue from inwards reinsurance business for contracts that existed at the transition date to which the entity has applied the fair value approach.                                      |\n| Item 1.2.3 | Report insurance revenue from inwards reinsurance business for all other contracts.                                                                                                                        |\n\n2. Insurance service expense\n\n| Item 2     | Item 2 total insurance service expense is a derived item calculated as the sum of items 2.1 and 2.2.Report this item in accordance with AASB 101.82 (ab) Disclosure, AASB 17.80 (a) and AASB 17.84.                                                                                    |\n| ---------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 2.1   | Item 2.1 insurance service expense from direct business is a derived item and is calculated as the sum of items 2.1.1 to 2.1.6 inclusive.                                                                                                                                              |\n| Item 2.1.1 | Report incurred claims from direct business.                                                                                                                                                                                                                                           |\n| Item 2.1.2 | Report other insurance service expenses from direct business.Report insurance acquisition cash flows that have been recognised as expenses when incurred under AASB 17.59 (a) at this item.                                                                                            |\n| Item 2.1.3 | Report amortisation of insurance acquisition cash flows from direct business.                                                                                                                                                                                                          |\n| Item 2.1.4 | Report losses and reversal of losses on onerous contracts from direct business.Report this item in accordance with AASB 17.47-52.                                                                                                                                                      |\n| Item 2.1.5 | Report changes that relate to past service: changes to liabilities for incurred claims from direct business.Report this item in accordance with AASB 17.103 (b) (iii) Disclosure.                                                                                                      |\n| Item 2.1.6 | Report impairment losses/reversals on assets for insurance acquisition cash flows from direct business.Report this item in accordance with AASB 17 Appendix A, AASB 17.28B, AASB 17.28E and AASB 17.28F. APRA has interpreted this item to form part of insurance service expense.     |\n| Item 2.2   | Item 2.2 insurance service expenses from inwards reinsurance is a derived item and is calculated as the sum of items 2.2.1 to 2.2.6 inclusive.                                                                                                                                         |\n| Item 2.2.1 | Report incurred claims from inwards reinsurance.                                                                                                                                                                                                                                       |\n| Item 2.2.2 | Report other insurance service expenses from inwards reinsurance.Report insurance acquisition cash flows that have been recognised as expenses when incurred under AASB 17.59 (a) at this item.                                                                                        |\n| Item 2.2.3 | Report amortisation of insurance acquisition cash flows from inwards reinsurance.                                                                                                                                                                                                      |\n| Item 2.2.4 | Report losses and reversal of losses on onerous contracts from inwards reinsurance.Report this item in accordance with AASB 17.47-52.                                                                                                                                                  |\n| Item 2.2.5 | Report changes that relate to past service: changes to liabilities for incurred claims from inwards reinsurance.Report this item in accordance with AASB 17.103 (b) (iii) Disclosure.                                                                                                  |\n| Item 2.2.6 | Report impairment losses/reversals on assets for insurance acquisition cash flows from inwards reinsurance.Report this item in accordance with AASB 17 Appendix A, AASB 17.28B, AASB 17.28E and AASB 17.28F. APRA has interpreted this item to form part of insurance service expense. |\n\n3. Insurance service result before reinsurance contracts held\n\n| Item 3 | Item 3, insurance service result before reinsurance contracts held, is a derived item and is calculated as the sum of item 1 and item 2.Report this item in accordance with AASB 17 Appendix A. |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n4. Allocation of reinsurance premiums\n\n| Item 4 | Report allocation of reinsurance premiums.It is requested that the entity present this item separately from amounts recoverable from reinsurers reported at item 5.Report this item in accordance with AASB 17.86. |\n| ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n5. Amounts recoverable from reinsurers\n\n| Item 5 | Report amounts recoverable from reinsurers. Include at this item reversals of recoveries of losses from the reinsurance contracts determined in accordance with AASB 17.66B for reinsurance contracts held.Report this item in accordance with AASB 17.86.The amount reported at this item should reconcile to item 8. ‘Amounts recoverable from reinsurers’ reported in Reporting Standard GRS 320.0 Liability Roll Forwards Part B: Reinsurance contracts held (outwards reinsurance by cedant/retrocedent) Liability Roll Forward 1 – Reconciliation of the remaining coverage and incurred claims (GRS 320.0 Part B RF1). |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n6. Net expense from reinsurance contracts held\n\n| Item 6 | Item 6 is a derived item and is calculated as the sum of item 4 and item 5. This item can be a net income or net expense.Report this item in accordance with AASB 17 Appendix A, AASB 101.82 (ac), AASB 17.82 and AASB 17.86. |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n7. Insurance service result\n\n| Item 7 | Item 7, insurance service result, is a derived item and is calculated as the sum of item 3 and item 6.Report this item in accordance with AASB 17.80 (a). |\n| ------ | --------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n8. Interest revenue calculated using the effective interest method\n\n| Item 8 | Report interest revenue calculated using the effective interest method.Report this item in accordance with AASB 101.82 (a) (i) and AASB 9 Appendix A. |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n9. Other interest and similar income\n\n| Item 9 | Report other interest and similar income include income that is not reported at item 8 and items 10 to 16. |\n| ------ | ---------------------------------------------------------------------------------------------------------- |\n\n10. Net gains/losses on financial assets at fair value through profit or loss\n\n| Item 10 | Report net gains/losses on financial assets at fair value through profit or loss.Report this item in accordance with AASB 132.11 and AASB 7.20 (a) (i). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n11. Net gains/losses on derecognition of financial assets measured at fair value through other comprehensive income\n\n| Item 11 | Report net gains or losses on derecognition of financial assets measured at fair value through other comprehensive income.Report this item in accordance with AASB 132.11 and AASB 7.20 (a) (viii). |\n| ------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n12. Net gains/(losses) on derecognition of financial assets measured at amortised cost\n\n| Item 12 | Report net gains/(losses) on derecognition of financial assets measured at amortised cost.Report this item in accordance with AASB 132.11 and AASB 101.82 (aa). |\n| ------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n13. Impairment loss on financial assets\n\n| Item 13 | Report impairment loss on financial assets.Report this item in accordance with AASB 9 Appendix A, AASB 132.11 and AASB 101.82 (ba). |\n| ------- | ----------------------------------------------------------------------------------------------------------------------------------- |\n\n14. Net gains from fair value adjustments to investment properties\n\n| Item 14 | Report net gains from fair value adjustments to investment properties.Report this item in accordance with AASB 140.5 and AASB 140.76 (d). |\n| ------- | ----------------------------------------------------------------------------------------------------------------------------------------- |\n\n15. Net foreign exchange income / expense\n\n| Item 15 | Report net foreign exchange income or expense.Report this item in accordance with AASB 121.52 (a) Common practice. |\n| ------- | ------------------------------------------------------------------------------------------------------------------ |\n\n16. Total investment result\n\n| Item 16 | Item 16 total investment result is a derived item and is calculated as the sum of items 8 to 15 inclusive. |\n| ------- | ---------------------------------------------------------------------------------------------------------- |\n\n17. Insurance finance expenses for insurance contracts issued\n\n| Item 17 | Report insurance finance expenses for insurance contracts issued. This item can be a net income or net expense.Report this item in accordance with AASB 17.87 and AASB 17 Appendix A. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n18. Reinsurance finance income for reinsurance contracts held\n\n| Item 18 | Report reinsurance finance income for reinsurance contracts held. This item can be a net income or net expense.Report this item in accordance with AASB 17.82 and AASB 17 Appendix A.Report the “Effect of changes in non-performance risk of reinsurers\" as reported in GRS 320.0 Part B RF1 item 14 at this item. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n19. Net insurance financial result through profit or loss\n\n| Item 19 | Item 19 is a derived item and is calculated as the sum of item 17 and item 18. This item can be a net income or net expense. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------- |\n\n20. Asset management services revenue\n\n| Item 20 | Report asset management services revenue. This includes revenue from investment management services accounted for in accordance with AASB 15.Report this item in accordance with AASB 15.113 (a) Disclosure and AASB 15.114 Disclosure. |\n| ------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n21. Share of profit/loss of associates and joint ventures accounted for using the equity method\n\n| Item 21 | Report the share of profit or loss of associates and joint ventures accounted for using the equity method.Report this item in accordance with AASB 101.82 (c) and AASB 128.3. |\n| ------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n22. Profit/loss from non-current assets and disposal groups classified as held for sale and not qualifying as discontinued operations\n\n| Item 22 | Report the profit or loss from non-current assets and disposal groups classified as held for sale and not qualifying as discontinued operations. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n23. Impairment loss for goodwill\n\n| Item 23 | Report impairment loss for goodwill.Report this item in accordance with AASB 138.8, AASB 3 Appendix A and AASB 3.B67 (d). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------- |\n\n24. Other income\n\n| Item 24 | Report other income that is not reported elsewhere in the Reporting Standard; including income from contracts outside the scope of AASB 17 (including AASB 15 Revenue from Contracts with Customers) under this item. Revenue from investment management services is to be reported at item 21. |\n| ------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n25. Other finance costs\n\n| Item 25 | Report other finance costs.Report this item in accordance with AASB 101.82 (b) and includes the interest expense on lease liabilities (based on AASB 16.49 and AASB 16.53 (b)). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n26. Other expenses\n\n| Item 26 | Report other expenses. Additionally, include expenses from contracts outside the scope of AASB 17 under this item. |\n| ------- | ------------------------------------------------------------------------------------------------------------------ |\n\n27. Profit/loss from continuing operations before tax\n\n| Item 27 | Item 27 is a derived item and is calculated as the sum of items 7, 16, and items 19 to 26 inclusive.Report this item in accordance with AASB 101.81A (a) Disclosure. |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n28. Income tax expense from continuing operations\n\n| Item 28 | Report income tax expense from continuing operations.Report this item in accordance with AASB 101.82 (d) and AASB 112.77. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------- |\n\n29. Profit/loss for the year from continuing operations after income tax\n\n| Item 29 | Item 29 profit/loss for the year from continuing operations after income tax is a derived item and is calculated as the sum of item 27 and item 28.Report this item in accordance with AASB 101.81A. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n30. Profit/loss from discontinued operations after income tax\n\n| Item 30 | Report profit or loss from discontinued operations after income tax.Report this item in accordance with AASB 101.82 (ea). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------- |\n\n31. Profit (loss) after income tax attributable to members of the company\n\n| Item 31 | Item 31 profit (loss) after income tax attributable to members of the company is a derived item and is calculated as the sum of item 29 and item 30.Report this item in accordance with AASB 101.81B (a) (ii). |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n### Other comprehensive income\n\n#### Items that may be reclassified to profit or loss in subsequent periods\n\nReport this item in accordance with AASB 101.82A (a) (ii).\n\n32. Change in fair value of financial assets at fair value through other comprehensive income\n\n| Item 32 | Report change in fair value of financial assets at fair value through other comprehensive income.Report this item in accordance with AASB 13 Appendix A, AASB 132.11 and AASB 7.20 (a) (viii). |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n33. Amount reclassified to profit or loss\n\n| Item 33 | Report amount reclassified to profit or loss.Report this item in accordance with AASB 7.20 (a) (viii). |\n| ------- | ------------------------------------------------------------------------------------------------------ |\n\n34. Insurance finance expenses for insurance contracts issued\n\n| Item 34 | Report insurance finance expenses for insurance contracts issued. This item can be a net income or net expense.Report this item in accordance with AASB 17.90 and AASB 17 Appendix A. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n35. Reinsurance finance income for reinsurance contracts held\n\n| Item 35 | Report reinsurance finance income for reinsurance contracts held. This item can be a net income or net expense.Report this item in accordance with AASB 17.82, AASB 17.90 and AASB 17 Appendix A. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n36. Net insurance financial result through other comprehensive income\n\n| Item 36 | Item 36 is a derived item and is calculated as the sum of item 34 and item 35. This item can be a net income or net expense. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------- |\n\n37. Share of other comprehensive income of associates and joint ventures accounted for using the equity method\n\n| Item 37 | Report the share of other comprehensive income of associates and joint ventures accounted for using the equity method.Report this item in accordance with AASB 101.82A (b) (ii). |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n38. Income tax relating to items that will be reclassified\n\n| Item 38 | Report income tax relating to items that will be reclassified.Report this item in accordance with AASB 101.91. |\n| ------- | -------------------------------------------------------------------------------------------------------------- |\n\n#### Items that will not be reclassified to profit or loss\n\nReport this item in accordance with AASB 101.82A (a) (i).\n\n39. Revaluation of land and buildings\n\n| Item 39 | Report revaluation of land and buildings.Report this item in accordance with AASB 116.39. |\n| ------- | ----------------------------------------------------------------------------------------- |\n\n40. Share of other comprehensive income of associates and joint ventures accounted for using the equity method\n\n| Item 40 | Report share of other comprehensive income of associates and joint ventures accounted for using the equity method.Report this item in accordance with AASB 101.82A (b) (i) and AASB 128.3. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n41. Remeasurements of post-employment benefit obligations, before tax\n\n| Item 41 | Report remeasurements of post-employment benefit obligations, before tax.Report this item in accordance with AASB 119.120 (c). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------ |\n\n42. Income tax relating to items that will not be reclassified\n\n| Item 42 | Report income tax relating to items that will not be reclassified.Report this item in accordance with AASB 101.91. |\n| ------- | ------------------------------------------------------------------------------------------------------------------ |\n\n43. Total other comprehensive income\n\n| Item 43 | Item 43 total other comprehensive income is a derived item and is calculated as the sum of item 32, 33, and items 36 to 42 inclusive.Report this item in accordance with AASB 101.81A (b). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n44. Total comprehensive income\n\n| Item 44 | Item 44 total comprehensive income is a derived item and is calculated as the sum of item 31 and item 43.Report this item in accordance with AASB 101.81A (c). |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------- |","sortOrder":26},{"sectionNumber":"Items that may be reclassified to profit","sectionType":"subdivision","heading":"Items that may be reclassified to profit or loss in subsequent periods","content":"#### Items that may be reclassified to profit or loss in subsequent periods\n\nReport this item in accordance with AASB 101.82A (a) (ii).\n\n32. Change in fair value of financial assets at fair value through other comprehensive income\n\n| Item 32 | Report change in fair value of financial assets at fair value through other comprehensive income.Report this item in accordance with AASB 13 Appendix A, AASB 132.11 and AASB 7.20 (a) (viii). |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n33. Amount reclassified to profit or loss\n\n| Item 33 | Report amount reclassified to profit or loss.Report this item in accordance with AASB 7.20 (a) (viii). |\n| ------- | ------------------------------------------------------------------------------------------------------ |\n\n34. Insurance finance expenses for insurance contracts issued\n\n| Item 34 | Report insurance finance expenses for insurance contracts issued. This item can be a net income or net expense.Report this item in accordance with AASB 17.90 and AASB 17 Appendix A. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n35. Reinsurance finance income for reinsurance contracts held\n\n| Item 35 | Report reinsurance finance income for reinsurance contracts held. This item can be a net income or net expense.Report this item in accordance with AASB 17.82, AASB 17.90 and AASB 17 Appendix A. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n36. Net insurance financial result through other comprehensive income\n\n| Item 36 | Item 36 is a derived item and is calculated as the sum of item 34 and item 35. This item can be a net income or net expense. |\n| ------- | ---------------------------------------------------------------------------------------------------------------------------- |\n\n37. Share of other comprehensive income of associates and joint ventures accounted for using the equity method\n\n| Item 37 | Report the share of other comprehensive income of associates and joint ventures accounted for using the equity method.Report this item in accordance with AASB 101.82A (b) (ii). |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n38. Income tax relating to items that will be reclassified\n\n| Item 38 | Report income tax relating to items that will be reclassified.Report this item in accordance with AASB 101.91. |\n| ------- | -------------------------------------------------------------------------------------------------------------- |","sortOrder":27},{"sectionNumber":"Items that will not be reclassified to p","sectionType":"subdivision","heading":"Items that will not be reclassified to profit or loss","content":"#### Items that will not be reclassified to profit or loss\n\nReport this item in accordance with AASB 101.82A (a) (i).\n\n39. Revaluation of land and buildings\n\n| Item 39 | Report revaluation of land and buildings.Report this item in accordance with AASB 116.39. |\n| ------- | ----------------------------------------------------------------------------------------- |\n\n40. Share of other comprehensive income of associates and joint ventures accounted for using the equity method\n\n| Item 40 | Report share of other comprehensive income of associates and joint ventures accounted for using the equity method.Report this item in accordance with AASB 101.82A (b) (i) and AASB 128.3. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n41. Remeasurements of post-employment benefit obligations, before tax\n\n| Item 41 | Report remeasurements of post-employment benefit obligations, before tax.Report this item in accordance with AASB 119.120 (c). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------ |\n\n42. Income tax relating to items that will not be reclassified\n\n| Item 42 | Report income tax relating to items that will not be reclassified.Report this item in accordance with AASB 101.91. |\n| ------- | ------------------------------------------------------------------------------------------------------------------ |\n\n43. Total other comprehensive income\n\n| Item 43 | Item 43 total other comprehensive income is a derived item and is calculated as the sum of item 32, 33, and items 36 to 42 inclusive.Report this item in accordance with AASB 101.81A (b). |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n\n44. Total comprehensive income\n\n| Item 44 | Item 44 total comprehensive income is a derived item and is calculated as the sum of item 31 and item 43.Report this item in accordance with AASB 101.81A (c). |\n| ------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------- |","sortOrder":28}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"flash_summary":{"complexity_score":7,"scope_assessment":{"changed":false,"description":"The Standard applies to all general insurers authorised under the Insurance Act and takes effect for reporting periods ending on or after 1 July 2023 (para 3). It provides transition rules to report under the revoked (old) standard for specified transitional periods (para 16). The text does not state any expansion or narrowing of the class of entities required to report beyond that application (paras 3, 16)."},"complexity_factors":["Granular item-level reporting: 44 primary items with multiple sub-items and derived fields (Reporting tables; Items 1–44).","Extensive cross-references to external standards: multiple AASB provisions, AASB 17, AASB 101, AASB 9, AASB 7, AASB 121, etc. (General accounting basis; individual item notes).","Audit and quality-control requirements: mandatory Appointed Auditor review, limited assurance engagement and auditor certification for annual data (paras 10, Note after para 6).","Reconciliation and linkage to other reporting standards: explicit reconciliation to GRS 320.0 Liability Roll Forwards for certain items (Item 5; Specific instructions).","Multiple reporting rhythms and discretion: quarterly and annual submissions, plus APRA power to vary periods, frequency or content for individual insurers (paras 6–8, 7, 15).","Authorisation and submission controls: digital certificate signing, authorised submitters (PEO or CFO), agent copy retention obligations (paras 12–14).","Format and measurement constraints: electronic submission mandate, whole AUD reporting, foreign‑currency conversion rules, negative-value convention (paras 5; Units of measurement)."],"plain_english_summary":"This Reporting Standard (GRS 310.0) requires all APRA‑authorised general insurers to submit quarterly and annual profit or loss and other comprehensive income data in a prescribed electronic format for reporting periods ending on or after 1 July 2023 (paras 3, 6, 5). It maps each reported line to Australian Accounting Standards and IFRS taxonomy elements.  \n\nInsurers must prepare auditor‑reviewed data, maintain auditor‑tested systems and internal authorisation controls, digitally sign submissions and retain agent copies. APRA can change frequency, content or due dates and may grant extensions (paras 10–15, 7, 9)."},"kimi_summary":{"_metrics":{"completionTokens":727},"content_quality":"ok","complexity_score":8,"scope_assessment":{"changed":false,"description":"This reporting standard maintains its original scope as a prudential data collection instrument for general insurers' profit and loss reporting. The 2023 version updates the standard to align with AASB 17 (the new insurance accounting standard effective from 1 July 2023) but does not expand beyond its core purpose of collecting financial performance data for APRA supervision."},"complexity_factors":["44 detailed reporting items with hierarchical numbering (1.1.1, 1.1.2, 1.1.3, etc.)","Extensive cross-references to multiple AASB standards (AASB 101, AASB 17, AASB 9, AASB 7, AASB 121, AASB 128, AASB 138, AASB 3, AASB 112, AASB 119, AASB 116, AASB 140, AASB 15, AASB 16)","Derived items requiring calculations (sums of multiple sub-items)","Multiple defined terms referencing external prudential standards (GPS 001, GRS 001, GRS 320.0)","Conditional reporting based on transition approaches (modified retrospective vs fair value)","Reconciliation requirements with other reporting standards (GRS 320.0)","Dual reporting framework (profit/loss AND other comprehensive income)","Specific formatting requirements (whole AUD, no decimals, negative values for losses)","Quality control and audit requirements with limited assurance engagement standards","Digital signature and authorisation requirements with delegation chains"],"plain_english_summary":"This reporting standard requires all general insurers (including foreign branches) to submit a prescribed electronic template of 44 profit-and-loss and other comprehensive income items to APRA, quarterly (within 20 business days) and annually (within 3 months), signed digitally and subject to Appointed Auditor review of systems.  \n\nIt supports APRA’s supervision of insurer solvency and produces audited statutory-account figures, aligns with AASB 17, and ensures consistent, comparable industry reporting."}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-82-of-2023","history":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-82-of-2023/history","analysis":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-82-of-2023/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-82-of-2023/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-82-of-2023/important-cases","documents":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-82-of-2023/documents"}}