Division R - Financial Sector (Collection of Data) (reporting standard) determination No. 96 of 2023 - R

Reinsurance business	This refers to the reinsurance business written by the reporting insurer in accordance with the reinsurance classes of business in GPS 001 and GPS 115. For reinsurance business, the classes of business are to be aggregated by the Category and Reinsurance Type as per Table 2 of Attachment A in GPS 115.
Reinsurance recoveries incurred	This is the value of reinsurance recoveries incurred during the reporting period. This must be consistent with the value used to calculate net claims incurred.Insurers may use approximate methods and may take into account materiality (i.e. whether it would result in a materially different outcome from applying the outlined definition) to report this item.
Reinsurance recoveries received	Report the amount of reinsurance recoveries received over the reporting period.This relates to all reinsurance recoveries received on a cash flow basis in the reporting period, regardless of the reporting period in which the reinsurance recoveries may have been incurred.

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