Specific instructionsSpecific instructions

Specific instructions

GRF 210.1A_G is comprised of the following.

• Part A: Premiums Liabilities – GPS 310 basis;
• Part B: Premiums Liabilities – AASB Basis;
• Part C: Additional policies risk charge; and
• Part D: Total Premiums Liabilities.

The aggregate value of premiums liabilities for the Level 2 insurance group will be reported in ‘Part D: Total Premiums Liabilities’

Actuarial services

If actuarial services were used to complete this form input ‘Yes’, otherwise input ‘No’.

Basis of preparation

Select, from the drop down list, the basis by which premiums liabilities are reported in this form. The options provided are:

• GPS 310 basis;
• AASB Basis; or
• Combination of GPS 310 and AASB basis.

Classes of insurance business (1)

Level 2 insurance groups are required to report financial data on both Australian business[8] and international business[9].

Diversification will be the primary adjustment made on a group basis that affects the insurance risk capital charge and should be recognised in the risk margin for each class of business. The totals at the end of the form, in Part D, may take into account other group adjustments.

Australian business

For Part A (Premiums Liabilities – GPS 310 basis), Australian business is to be reported by class in:

table 1: Direct business; and

table 3: Reinsurance business.

A Level 2 insurance group may apply to APRA for a reporting adjustment under paragraph 3(b) of GRS 210.1_G to report Australian business as a single region. If the reporting adjustment is in place, the Level 2 insurance group must not complete this form, and instead complete GRF 210.1B_G.

Where a Level 2 insurance group reports premiums liabilities using equivalent accounting entries under Part B (Premiums Liabilities – AASB basis), which requires APRA approval, Australian business is to be reported by class in;

table 5: Direct business; and

table 7: Reinsurance business

International business (1)

As outlined in the Introduction, for international regions, class of business data is not reported in this form. Level 2 insurance groups, however, will be required to map their international business to the Australian classes of business as defined in GPS 001 in order to assign an insurance risk capital charge and provide a reporting supplement to APRA.