Life Insurance (prudential standard) determination No. 11 of 2010 - Prudential Standard LPS 600 - Statutory Funds
Meaning of “IFRS[2] change in net assetsMeaning of “IFRS[2] change in net assets of a category of business”
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Meaning of “IFRS[2] change in net assets of a category of business”
- The “IFRS change in net assets of a category of business” means the difference between:
(a) the amount that would have been reported as Life Insurance Act Net Assets in respect of that category under Form K of Schedule 2 of Prudential Rules No 35 as at the end of the reporting period ending on or immediately after 31 December 2004 had the version of those Prudential Rules (and the relevant Actuarial Standards) that apply to reporting periods commencing on or after 1 January 2005 applied at that date; and
(b) the amount that was reported as Net Assets in respect of that category under Form K of Schedule 2 of Prudential Rules No 35 as at the end of the reporting period ending on or immediately after 31 December 2004 under the version of those Prudential Rules (and the relevant Actuarial Standards) that applied at that date.