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Financial Sector (Collection of Data) (reporting standard) determination No. 86 of 2023
Items 5-11: Insurance service expensesItems 5-11: Insurance service expenses
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Items 5-11: Insurance service expenses
| Item 5 | Report incurred claims and other expenses.Report this item in accordance with AASB 17.103 (b) (i) Disclosure. |
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| Item 6 | Report insurance acquisition cash flows amortisation.Report this item in accordance with AASB 17.103 (b) (ii) Disclosure. |
| Item 7 | Report changes that relate to future service: losses on onerous contracts and reversals of those losses.Report this item in accordance with AASB 17.103 (b) (iv) Disclosure. |
| Item 8 | Report changes that relate to past service: changes to liabilities for incurred claims.Report this item in accordance with AASB 17.103 (b) (iii) Disclosure. |
| Item 9 | Report impairment of assets for insurance acquisition cash flows.Report this item in accordance with AASB 17 Appendix A, AASB 17.105A and AASB 17.105B Disclosure.Based on the insurer’s interpretation of AASB 17.105A, this item may not apply. |
| Item 10 | Report reversal of impairment of assets for insurance acquisition cash flowsReport this item in accordance with AASB 17 Appendix A, AASB 17.105A and AASB 17.105B Disclosure.Based on the insurer’s interpretation of AASB 17.105A, this item may not apply. |
| Item 11 | Item 11, insurance service expenses, is a derived item and is calculated as the sum of items 5 to 10 inclusive. |