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Financial Sector (Collection of Data) (reporting standard) determination No. 71 of 2023
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Turn the raw legal text into a practical explanation grounded in Financial Sector (Collection of Data) (reporting standard) determination No. 71 of 2023.
Use the drop-down selection to report whether actuarial services were used to complete this table. If actuarial services were used input 'Yes' otherwise input 'No'.
| Name | Valid values | Description | |
|---|---|---|---|
| 1 | Class Of Business | Direct classes of business:HouseholdersCommercial MotorDomestic MotorOther Direct - Category ATravelFire and ISRMarineAviationConsumer CreditOther AccidentOther Direct - Category BMortgageCTPPublic and Product LiabilityProfessional IndemnityEmployers LiabilityCyberDirectors and OfficersOther Direct - Category CReinsurance classes of business:Proportional - Category AProportional - Category BProportional - Category CNon-proportional - Category ANon-proportional - Category BNon-proportional - Category C | Report the class of business. |
| 2 | Gross PL - Central Estimate (Excluding CHE And PAE) | Whole dollars | Report the gross PL - central estimate (excluding CHE and PAE). |
| 3 | Expected Future Reinsurance Costs For Current And Future Reinsurance Arrangements Needed To Cover PL | Whole dollars | Report the expected future reinsurance costs for current and future reinsurance arrangements needed to cover PL. |
| 4 | Commissions | Whole dollars | Report the commissions included in the PL. |
| 5 | Reinsurance Commissions | Whole dollars | Report the reinsurance commissions included in the PL.Reinsurance commissions is to be reported as a positive number if they act to reduce the gross PL. |
| 6 | Claims Handling Expenses | Whole dollars | Report the claims handling expenses. |
| 7 | Policy Administration Expenses | Whole dollars | Report the policy administration expenses. |
| 8 | Gross PL – diversified risk margin | Whole dollars | Report the gross PL – diversified risk margin. |
| 9 | Net PL - Non-Reinsurance Recoveries (Central Estimate) | Whole dollars | Report the net PL - non-reinsurance recoveries (central estimate).Non-reinsurance recoveries should be reported as a positive number if they act to reduce the gross PL. |
| 10 | Net PL - Expected Reinsurance Recoveries (Central Estimate) | Whole dollars | Report the net PL - expected reinsurance recoveries (central estimate).Expected reinsurance recoveries should be reported as a positive number if they act to reduce the gross PL. |
| 11 | Net PL - Stand-Alone Risk Margin | Whole dollars | Report the net PL - stand-alone risk margin. |
| 12 | Net PL - Diversified Risk Margin | Whole dollars | Report the net PL - diversified risk margin. |
| 13 | Net Written Premium For Material Business That Incepts In The Next Reporting Period | Whole dollars | Report the net written premium for material business that incepts in the next reporting period. |