Financial Sector (Collection of Data) (reporting standard) determination No. 6 of 2011 - GRS 210.1_G (2011) - Premiums Liabilities - Insurance Risk Charge (Level 2 Insurance Group)
Part DTotal premiums liabilities
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Turn the raw legal text into a practical explanation grounded in Financial Sector (Collection of Data) (reporting standard) determination No. 6 of 2011 - GRS 210.1_G (2011) - Premiums Liabilities - Insurance Risk Charge (Level 2 Insurance Group).
Part D: Total premiums liabilities
The total value of net premiums liabilities and the associated insurance risk capital charge for the Level 2 insurance group are calculated to be reported in this section of the form. This will comprise of the premiums liabilities and the respective insurance risk capital charges reported in Part A and Part B of this form, and any group adjustments that exist.
Total premiums liabilities and insurance risk charge
The total premiums liabilities, group PL insurance risk charge, additional policies risk charge and total premiums liabilities risk charge for the Level 2 insurance group will comprise of the following categories:
- Australian direct business;
- Australian reinsurance business;
- International direct business;
- International reinsurance business; plus
- Group adjustments.
Group adjustments
Adjustments not recognised in tables 1-8 are to be reported under group adjustments. Group adjustments (that result in a reduction in premium liabilities) are to be reported as negative values.
Gross premium liabilities
Except for the Group adjustments row, do not enter values for each category as these are automatically calculated by the form.
Net premium liabilities
Except for the Group adjustments row, do not enter values for each category as these are automatically calculated by the form.
Adjusted net premium liabilities
Except for the Group adjustments row, do not enter values for each category as these are automatically calculated by the form.
Group PL insurance risk charge
Except for the Group adjustments row, do not enter a value for each category as these are automatically calculated by the form.
Additional policies risk charge
Do not enter a value for each category as these are automatically calculated by the form.
Total premiums liabilities risk charge
Do not enter a value for each category as these are automatically calculated by the form.
Total
Do not enter a value as this is automatically calculated by the form. It will represent the sum of ‘Group PL insurance risk charge’ attributed to:
- Australian direct business;
- Australian reinsurance business;
- International direct business;
- International reinsurance business; and
- Group adjustments.
The total premiums liabilities insurance risk charge will be included in the calculation of the minimum capital requirement for the Level 2 insurance group.