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Financial Sector (Collection of Data) (reporting standard) determination No. 120 of 2023
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Turn the raw legal text into a practical explanation grounded in Financial Sector (Collection of Data) (reporting standard) determination No. 120 of 2023.
Reporting basis
This section relates to:
life insurers only;
non-participating benefits with entitlement to discretionary additions and participating benefits; and
all business.
Report this table for each statutory fund.
Report unstressed values before the effect of insurance risk stresses as at the reporting date.
Report this table on an annual basis only.
Units of measurement
Report the dollar values in this table in whole Australian dollars.
| Name | Valid values | Description | |
|---|---|---|---|
| 1 | Life Company Fund Name | Free text | Report the name of life company fund. |
| 2 | APRA Product Group | L1 - ConventionalL2 - Annuity with longevity riskL3_1 - Individual lump sum risk - stepped premiumL6 - Individual disability income insurance - stepped premiumL7_1 - Individual lump sum risk - otherL10 - Individual disability income insurance - otherL11_1 - Group lump sum riskL14 - Group disability income insuranceL15 - Investment linkedL16 - Investment policy with discretionary additionsL17 - Other investment policyL18 - Annuity without longevity riskL19 - Other | Report APRA product group. |
| 3 | Insurance Benefit Type | Non-participating benefits with entitlement to discretionary additionsParticipating benefits | Report insurance benefit type. |
| 4 | Policy Owners Retained Profits (PRP) | Whole dollars | Report policy owners’ retained profits (PRP) amount.This item only applies when insurance benefit is:Participating benefits. |
| 5 | Termination Value | Whole dollars | Report termination value amount. |
| 6 | Investment Fluctuation Reserve (IFR) | Whole dollars | Report Investment Fluctuation Reserve (IFR) amount.This item only applies when insurance benefit is:Non-participating benefits with entitlement to discretionary additions |