Financial Sector (Collection of Data) (reporting standard) determination No. 86 of 2006 - Reporting Standard GRS 400.0 (2007) Statement of Risk by Country
2. Reinsurance expense - Direct & Inward2. Reinsurance expense - Direct & Inwards reinsurance
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2. Reinsurance expense - Direct & Inwards reinsurance
This is the reinsurance expense as required by the APRA forms (refer to instructions GRF 310.1 Premium Revenue and Reinsurance Expense). It is to be reported in respect of total direct business and inwards reinsurance business.
Reinsurance expense is not to be reported in accordance with AASB 1023 ‘General Insurance Contracts’ (i.e. it is not to be amortised in accordance with the pattern of reinsurance service received).