Financial Sector (Collection of Data) (reporting standard) determination No. 83 of 2006 - Reporting Standard GRS 310.2 (2007) Claims Expense and Reinsurance Recoveries
Reinsurance recoveries received - cashflReinsurance recoveries received - cashflow basis (as a proxy the basis required by AASB 107 ‘Cash Flow Statements’ can be used)
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Reinsurance recoveries received - cashflow basis (as a proxy the basis required by AASB 107 ‘Cash Flow Statements’ can be used)
Report the amount of reinsurance recoveries received over the reporting period (on a year-to-date basis) in aggregate for direct business and inwards reinsurance business (i.e. disclosure in relation to individual class of business is not required). Do not include reinsurance recoveries recognised on an accrual basis, as that is recognised in columns titled “Reinsurance recoveries revenue relating to current and prior years” and “Reinsurance recoveries relating to future years”.
This relates to all reinsurance recoveries received on a cashflow basis in the current financial year, regardless of the financial year in which the reinsurance recovery may have been recognised as revenue (i.e. a prior financial year).