IntroductionIntroduction

Introduction

The purpose of this form is to provide information on premiums and reinsurance expenses by class of business, which supports the summarised underwriting result disclosed in GRF 310.0 Statement of Financial Performance. This instruction guide is designed to assist in the completion of the Statement of Premiums and of Reinsurance Expense and provides general directions for preparation and lodgment and explanatory notes for specific items

The form reports the following:

1. data by class of business (direct business and Reinsurance);

2. total premium revenue split between:

• insurance business written (directly by the insurer and by inward reinsurance);

• business received or written indirectly through underwriting pools or joint ventures; and

• portfolio transfers to the accepting insurer;

3. premiums received (cashflow basis); and

4. outward reinsurance premiums as reinsurance expense.