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Financial Sector (Collection of Data) (reporting standard) determination No. 68 of 2023
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| Reinsurance recoverables on outstanding and paid claims | This is the value of the central estimate of reinsurance recoverables in relation to reinsurance contracts for both paid and outstanding claims. This item does not include amounts under reinsurance contracts that do not meet the reinsurance documentation test or governing law requirements under Prudential Standard GPS 230 Reinsurance Management (GPS 230).This is calculated as the sum of:reinsurance recoverables on outstanding and paid claims: from APRA-authorised reinsurers;reinsurance recoverables on outstanding and paid claims: from non-APRA authorised reinsurers except for amounts outstanding on and from the second balance date;reinsurance recoverables on outstanding and paid claims: from non-APRA authorised reinsurers that are amounts outstanding on and from the second balance date; andreinsurance recoverables on outstanding and paid claims: from non-APRA-authorised reinsurers that are overdue for more than 6 months. |
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| Reinsurance recoverables on outstanding and paid claims: from APRA-authorised reinsurers | This is the value of reinsurance recoverables for both paid and outstanding claims against the reporting Level 2 insurance group from APRA-authorised reinsurers. This item does not include amounts under reinsurance contracts that do not meet the reinsurance documentation test or governing law requirements under GPS 230.This must be reduced by the amount that is likely to become uncollectable in the future. |
| Reinsurance recoverables on outstanding and paid claims: from non-APRA-authorised reinsurers except for amounts outstanding on and from the second balance date | This is the value of reinsurance recoverables for both paid and outstanding claims against the reporting Level 2 insurance group from non-APRA-authorised reinsurers except for amounts outstanding on and from the second balance date after the financial year in which the event occurred. This item does not include amounts under reinsurance contracts that do not meet the reinsurance documentation test or governing law requirements under GPS 230.This must be reduced by the amount that is likely to become uncollectable in the future. |
| Reinsurance recoverables on outstanding and paid claims: from non-APRA-authorised reinsurers that are amounts outstanding on and from the second balance date | This is the value of reinsurance recoverables for both paid and outstanding claims against the reporting Level 2 insurance group from non-APRA-authorised reinsurers that are amounts outstanding on and from the second balance date after the financial year in which the event occurred. This item does not include amounts under reinsurance contracts that do not meet the reinsurance documentation test or governing law requirements under GPS 230.This must be reduced by the amount that is likely to become uncollectable in the future.This is calculated as the sum of:reinsurance recoverables on outstanding and paid claims: from non-APRA-authorised reinsurers that are amounts outstanding on and from the second balance date - supported by security arrangements in Australia; andreinsurance recoverables on outstanding and paid claims: from non-APRA-authorised reinsurers that are amounts outstanding on and from the second balance date – not supported by security arrangements in Australia. |