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Financial Sector (Collection of Data) (reporting standard) determination No. 71 of 2023
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| Expected future reinsurance costs for current and future reinsurance arrangements needed to cover PL | This is the value of expected future cost of any reinsurance arrangements required to fully cover the exposure period for premiums liabilities. This may include an additional cost for existing reinsurance contracts where the expense is yet to be recognised under Australian Accounting Standards as well as an additional reinsurance purchase cost for any part of the premiums liabilities not covered by current reinsurance arrangements calculated in accordance with GPS 340.For avoidance of doubt, the reported figure is to be gross of any recoveries, and should not include any CHE, policy administration expenses (PAE) or risk margin. |
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