Subdivision P - Financial Sector (Collection of Data) (reporting standard) determination No. 115 of 2023 - P

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Premiums receivable(Items subject to Asset Risk Charge type)	This is the amount related to insurance premiums due but not yet received which has been recognised within insurance and reinsurance contract liabilities and assets reported on the balance sheet under AASB 17.Premiums should be gross of reinsurance and commissions, before profit share rebates, and inclusive of stamp duty, policy fees, loadings and discounts. This definition is consistent with the definition of premium defined in Reporting Standard LRS 750 Claims and Disputes (LRS 750.0). Life companies may use approximate methods to report this item if premiums which meet the outlined definition are not readily available (corresponding adjustments also need to be made in other accounts receivable or other accounts payable).Life companies must exclude any amount already allowed in adjusted policy liabilities to avoid double counting.This amount must be consistent with premiums receivable reported in LRS 112.0 as a component of liability adjustment (gross of tax effect).This item must not be reported as a component of other asset and liability items including adjusted policy liability related items reported in this Reporting Standard.
Property stress(Stress scenario type)	This is the impact on a fund's capital base of changes in property and infrastructure asset values and is calculated in accordance with LPS 114.

Premiums receivable(Items subject to Asset Risk Charge type)

This is the amount related to insurance premiums due but not yet received which has been recognised within insurance and reinsurance contract liabilities and assets reported on the balance sheet under AASB 17.Premiums should be gross of reinsurance and commissions, before profit share rebates, and inclusive of stamp duty, policy fees, loadings and discounts. This definition is consistent with the definition of premium defined in Reporting Standard LRS 750 Claims and Disputes (LRS 750.0). Life companies may use approximate methods to report this item if premiums which meet the outlined definition are not readily available (corresponding adjustments also need to be made in other accounts receivable or other accounts payable).Life companies must exclude any amount already allowed in adjusted policy liabilities to avoid double counting.This amount must be consistent with premiums receivable reported in LRS 112.0 as a component of liability adjustment (gross of tax effect).This item must not be reported as a component of other asset and liability items including adjusted policy liability related items reported in this Reporting Standard.

Property stress(Stress scenario type)

This is the impact on a fund's capital base of changes in property and infrastructure asset values and is calculated in accordance with LPS 114.

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