Reporting basisReporting basis

Reporting basis

Information in this Reporting Standard is to be completed by life insurers including friendly societies (together referred to as life insurers or licensed insurers) for each reporting period on statutory fund (approved benefit fund for a friendly society), licensed insurer and statutory fund eliminations bases.

LRS 310.0 must be submitted for each statutory fund (approved benefit fund for a friendly society) separately for each reporting period.

LRS 310.0 must be submitted for the sum of individual statutory funds, the sum of statutory fund eliminations, the general fund, and if applicable the general fund eliminations for each reporting period. The term ‘general fund’ has been used to refer to the shareholders’ fund of a life company other than a friendly society or the management fund of a friendly society.

Please disclose non-distinct investment components in Reporting Standard LRS 320.0 Liability Roll Forwards at:

• Part A: Liability Roll Forward 1, item 12: ‘Investment components and premium refunds’, item 18: ‘Claims and other expenses paid, including investment components’; and
• Part B: Liability Roll Forward 1, item 9: ‘Investment components and premium refunds’

as applicable (refer to AASB 17.103 (c) and AASB 17.105 (a) (iii)).