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Financial Sector (Collection of Data) (reporting standard) determination No. 107 of 2023
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| Operational Risk Charge (ORC) | This is a derived item and is calculated using the formula in accordance with HPS 118. |
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| ORC - Central estimate of insurance liabilities | This is the value of the central estimate component of insurance liabilities, determined in accordance with Prudential Standard HPS 340 Insurance Liability Valuation. |
| ORC - Accrued premium for the 12 months ending on the date 12 months prior to the reporting date | This is the total accrued premium, for the period of 12 months ending on the date that is 12 months prior to the reporting date.Accrued premium is defined in HPS 001.Accrued premium is to be reported gross of any reinsurance for the purpose of this Reporting Standard. |
| ORC - Accrued premium for the 12 months ending on the reporting date | This is the total accrued premium, for the period of 12 months ending on the reporting date.Accrued premium is defined in HPS 001.Accrued premium is to be reported gross of any reinsurance for the purpose of this Reporting Standard. |