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 an annual basis:

1. financial exposure by country or region;
2. movements in the provision for claims liabilities;
3. the diversification of underwriting business within each State and Territory of Australia;
4. claims expense by State and Territory of Australia;
5. information associated with the development of claims liabilities; and
6. information on controlled entities and joint venture operations/entities.

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

• Form GRF 400.0 Statement of Risk by Country (Form GRF 400.0) and the instructions to that form (which are attached and form part of this reporting standard);
• Form GRF 410.0 Movement in Outstanding Claims Provision (Form GRF 410.0) and the instructions to that form (which are attached and form part of this reporting standard);
• Form GRF 420.0 Premium Revenue by State and Territory of Australia (Form GRF 420.0) and the instructions to that form (which are attached and form part of this reporting standard);
• Form GRF 430.0 Claims Expense by State and Territory of Australia (Form GRF 430.0) and the instructions to that form (which are attached and form part of this reporting standard);
• Form GRF 440.0 Claims Development Tables (Form GRF 440.0) and the instructions to that form (which are attached and form part of this reporting standard); and
• Form GRF 450.0 Interest in Controlled Entities and Joint Ventures (Form GRF 450.0) and the instructions to that form (which are attached and form part of this reporting standard).