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Financial Sector (Collection of Data) (reporting standard) determination No. 96 of 2023
CC
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C
| Class of business | This is the direct or reinsurance classes of business in accordance with Prudential Standard GPS 001 Definitions (GPS 001.In respect of the ‘Other’ class of business as per GPS 001 for direct business, the Appointed Actuary is required to determine the most appropriate category (i.e. category A, B or C) as per Table 1 of Attachment A in Prudential Standard GPS 115 Capital Adequacy: Insurance Risk Charge (GPS 115) that this business falls within. The choice must be based on the underlying risk characteristics of the business being written. The amounts reported in the Other direct - category A, Other direct - category B or Other direct - category C line items are to follow this basis.For reinsurance business, the classes of business in are to be aggregated by the category and reinsurance type as per Table 2 of Attachment A in GPS 115. |
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