1.3Policyholders Funds

1.3 Policyholders Funds

Policyholders funds is also referred to as ‘technical reserves/funds’. Use of the term does not imply ownership of these funds by policyholders, like under life insurance. The term is used particularly in establishing the investment management mandates to reflect the different cashflow/risk and return requirements from that of shareholders funds. Disclose the aggregate balance of direct property investments that are designated by the insurer as representing policyholders funds (where this is done by the insurer).

1.4 Shareholders funds

Where the insurer has established the investment management mandates along these terms to reflect the different cashflow/risk and return requirements of shareholders funds from policyholders funds/technical reserves, disclose the aggregate balance of direct property investments designated as representing shareholders funds (where this is done by the insurer).

2. Total direct property investments classified into the following:

2.1 Investments denominated in a currency other than the Australian currency

Disclose the aggregate balance of property investments that are denominated in a currency other than the Australian currency.

2.2 Investment/holdings of direct property purchased from:

2.2.1. Parent entity

Of the total direct property investments of the insurer that is reported in this form, disclose direct holdings of property purchased from the parent entity of the licensed insurer.

2.2.1.1. Controlled entities/Controlled entities of the parent entity

For branches, the line item “Controlled entities/Controlled entities of the parent entity” is to be interpreted as amounts in relation to “Controlled entities of the parent entity”, and for licensed insurance entities amounts are in relation to “Controlled entities” of the reporting insurer.

Of the total direct property investments of the insurer that is reported in this form, disclose direct holdings of property purchased from controlled entities of the reporting insurer.

2.2.2. Associates/Joint Ventures

Of the total direct property investments of the insurer that is reported in this form, disclose direct holdings of property purchased from Associates or Joint Ventures of the reporting insurer. Associates and Joint Ventures are defined in accordance with AASB 131 ‘Interests in Joint Ventures’ and AASB 128 ‘Investments in Associates’.

2.2.3. Other related parties

Of the total direct property investments of the insurer that is reported in this form, disclose direct holdings of property purchased from any other related party of the reporting insurer, that are not specifically reported in other categories of related parties listed. Refer to the definition of related parties as defined in the general section of this instruction guide.