Objective of this reporting standardObjective of this reporting standard

Objective of this reporting standard

This reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001 (the Collection of Data Act). It requires general insurers (insurers), including foreign general insurers operating in Australia through branch operations (foreign insurers), to report to APRA, generally on a quarterly and annual basis, information on their:

(a) premium revenue and reinsurance expense;

(b) claims expense and reinsurance recoveries;

(c) investment and operating income and expenses; and

(d) financial and operational performance.

This reporting standard outlines the overall requirements for the provision of this information to APRA. It should be read in conjunction with:

1. Form GRF 310.0 Statement of Financial Performance (Form GRF 310.0)

(a) for insurers the version designated for a ‘Licensed Insurer’; or

(b) for foreign insurers the version designated for ‘Branch Total Operations’;

and the instructions to the forms (which are attached and all form part of this reporting standard);

2. Form GRF 310.1 Premium Revenue and Reinsurance Expense (Form GRF 310.1) and the instructions to that form (which are attached and form part of this reporting standard)

3. Form GRF 310.2 Claims Expense and Reinsurance Recoveries (Form GRF 310.2) and the instructions to that form (which are attached and form part of this reporting standard)

4. Form GRF 310.3 Investment and Operating Income and Expense, Underwriting expenses and acquisition costs (Form GRF 310.3) and the instructions to that form (which are attached and form part of this reporting standard); and

5. any prudential standards referenced in the attached instructions.