Financial Sector (Collection of Data) (reporting standard) determination No. 110 of 2023
Reporting Standard HRS 320.0 Liability Roll Forwards
Financial Sector (Collection of Data) Act 2001
I, Michael Murphy, delegate of APRA, under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001 (the Act) and subsection 33(3) of the Acts Interpretation Act 1901, determine Reporting Standard HRS 320.0 Liability Roll Forwards, in the form set out in the Schedule, which applies to the financial sector entities to the extent provided in paragraph 3 of the reporting standard.
Under section 15 of the Act, I declare that the reporting standard shall begin to apply to those financial sector entities on the day it is registered on the Federal Register of Legislation.
This instrument commences upon registration on the Federal Register of Legislation.
Dated: 2 June 2023
Michael Murphy
General Manager - Chief Data Officer (Acting)
Technology and Data Division
Interpretation
In this Determination:
APRA means the Australian Prudential Regulation Authority.
Federal Register of Legislation means the register established under section 15A of the Legislation Act 2003.
financial sector entity has the meaning given by section 5 of the Act.
Schedule
Reporting Standard HRS 320.0 Liability Roll Forwards comprises the document commencing on the following page.
Reporting Standard HRS 320.0
Objective of this Reporting Standard
This Reporting Standard sets out requirements for the provision of information to APRA relating to a private health insurer’s reconciliations of insurance contract liabilities required by AASB 17 Insurance Contracts. It includes associated specific instructions.
Authority
1. This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.
Purpose
2. The information reported to APRA under this Reporting Standard is used by APRA for the purpose of prudential supervision including assessing compliance with capital standards.
Application and commencement
3. This Reporting Standard applies to all private health insurers. This Reporting Standard applies for reporting periods ending on or after 1 July 2023.
Information required
4. A private health insurer must provide APRA with the information required by this Reporting Standard for each reporting period.
Method of submission
5. The information required by this Reporting Standard must be given to APRA:
(a) in electronic format using an electronic method available on APRA’s website; or
(b) by a method notified by APRA prior to submission.
Reporting periods and due dates
6. Subject to paragraph 7, a private health insurer must provide the information required by this Reporting Standard:
(a) in respect of the first half-year ending 31 December; and
(b) in respect of each financial year ending 30 June.
7. If, having regard to the particular circumstances of a private health insurer, APRA considers it necessary or desirable to obtain information more or less frequently than as provided by subparagraph 6(a) or 6(b), APRA may, by notice in writing, change the reporting periods, or specify reporting periods, for the particular private health insurer.
8. The information required by this Reporting Standard must be provided to APRA:
(a) in the case of half-yearly information, within 20 business days after the end of the reporting period to which the information relates;
(b) in the case of annual information, by 30 September each year; or
(c) in the case of information provided in accordance with paragraph 7, within the time specified by notice in writing.
9. APRA may, in writing, grant a private health insurer an extension of a due date, in which case the new due date will be the date on the notice of extension.
Quality control
10. All information provided by a private health insurer under this Reporting Standard must be subject to systems, processes and controls developed by the private health insurer for the internal review and authorisation of that information. It is the responsibility of the Board and senior management of the private health insurer to ensure that an appropriate set of policies and procedures for the authorisation of information submitted to APRA is in place.
Annual audit requirements
11. The information submitted for the purposes of paragraph 8(b) is to be subject to external audit to ensure consistency with the private health insurer’s statutory financial accounts and faithful application of the capital standards.
12. Audit certification and opinion must be provided to APRA by 30 September each year.
13. If a private health insurer received a qualified auditor’s report for a private health insurer for the year previous to the year for which the report is provided, the report for the year for which the report is provided must state whether the auditor has examined the issues identified and is satisfied that the private health insurer has taken the appropriate steps to rectify the matters raised in the previous report.
14. The auditor’s report must:
(a) state details of the program adopted to carry out the audit; and
(b) include the name of, and be signed by, the auditor who takes responsibility for the accuracy of the report.
Authorisation
15. A person who submits the information required under this Reporting Standard must be suitably authorised by an officer of the private health insurer.
Variations
16. APRA may, in writing, vary the reporting requirements of this Reporting Standard in relation to a private health insurer.
Interpretation
17. In this Reporting Standard:
(a) unless the contrary intention appears, words and expressions have the meanings given to them in Prudential Standard HPS 001 Definitions (HPS 001); and
(b) the following definitions are applicable:
AASB references relate to the Australian Accounting Standards made by the Australian Accounting Standards Board;
APRA means the Australian Prudential Regulation Authority established under the Australian Prudential Regulation Authority Act 1998;
capital standards means the prudential standards which relate to capital adequacy as defined in HPS 001;
officer has the same meaning as in the Private Health Insurance (Prudential Supervision) Act 2015;
private health insurer has the same meaning as in the Private Health Insurance (Prudential Supervision) Act 2015; and
reporting period means a period mentioned in paragraph 6 or, if applicable, paragraph 7.
18. Unless the contrary intention appears, a reference to an Act, Prudential Standard, Reporting Standard, Australian Accounting or Auditing Standard is a reference to the instrument as in force from time to time.
Reporting Standard HRS 320.0
Liability Roll Forwards
General instructions
These instructions assist completion of the Reporting Standard HRS 320.0 Liability Roll Forwards, which collects information relating to reconciliations of insurance contract liabilities required by AASB 17 Insurance Contracts (AASB 17). These instructions also apply to roll forwards of assets for insurance acquisition cash flows and reinsurance contracts held.
Tables described in this reporting standard list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.
General accounting basis
Unless otherwise specifically stated, reporting insurers are to report in accordance with the relevant Australian Accounting Standards.
References to Australian Accounting Standards
Each item reported under this Reporting Standard aligns with the Accounting Standards made by the Australian Accounting Standards Board (AASB). The applicable AASB references are specified with each item. AASB reference provides a written description of the accounting meaning of an IFRS Taxonomy element.
IFRS taxonomy element reference
Each IFRS taxonomy element contains at least one cross-reference to an AASB Standard (that incorporates IFRS 17 Standards as issued and amended by the International Accounting Standards Board) and has a reference type that can be used to identify the source of that element. The IFRS Taxonomy uses the following element reference types:
(a) disclosure—an element of this type depicts a presentation or disclosure requirement of an IFRS/AASB Standard;
(b) example—an element of this type represents an example provided in an IFRS/AASB Standard or its accompanying materials; and
(a) common practice—an element of this type reflects common reporting practice within IFRS/AASB financial statements. They are not specifically mentioned in IFRS/AASB Standards or their accompanying materials, but are consistent with IFRS/AASB Standards. They have been found to be frequently disclosed across a range of companies and accounting jurisdictions.
Definitions
Terms highlighted in bold italics indicate that the definition is provided in this Reporting Standard.
Specific instructions
Reporting basis
Information in this Reporting Standard is to be completed by private health insurers for each reporting period on a private health insurer basis.
Units of measurement
Report values in this Reporting Standard in whole Australian dollars (AUD).
Convert amounts denominated in foreign currency to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates.
Direct business is any insurance business written / insurance contracts issued by the reporting insurer.
Inwards reinsurance is any reinsurance business written / reinsurance contracts issued by the reporting insurer.
Liability Roll Forward 1 – Reconciliation of the liability for remaining coverage and the liability for incurred claims
Report the items in the table based on AASB 17.100 requirements to provide reconciliation from the opening to the closing balances of the liabilities for remaining coverage (LRC) and liabilities for incurred claims (LIC). Report the reconciliation from the opening to the closing balance of assets for insurance acquisition cash flows based on the insurer’s interpretation of AASB 17.105A and AASB 17.105B requirements.
Report zero values for line items if they are not applicable.
| Column 1 | Report liabilities for remaining coverage excluding loss component for the current reporting period. Where a group of contracts meets the requirements under AASB 17.20, report these contracts in this column. Report this item in accordance with AASB 17 Appendix A and AASB 17.100 (a) Disclosure. |
| Column 2 | Report the loss component of liabilities for remaining coverage for the current reporting period. Report this item in accordance with AASB 17 Appendix A and AASB 17.100 (b) Disclosure. |
| Column 3 | Report liabilities for incurred claims from contracts not measured under the Premium Allocation Approach (PAA) for the current reporting period. Report this item in accordance with AASB 17 Appendix A and AASB 17.100 (c) Disclosure. |
| Column 4 | For liabilities for incurred claims from contracts measured under the PAA, report estimates of the present value of the future cash flows for the current reporting period. Report this item in accordance with AASB 17 Appendix A and AASB 17.100 (c) (i) Disclosure. |
| Column 5 | For liabilities for incurred claims from contracts measured under PAA, report the risk adjustment for non-financial risk for the current reporting period. Report this item in accordance with AASB 17 Appendix A and AASB 17.100 (c) (ii) Disclosure. |
| Column 6 | Report assets for insurance acquisition cash flows recognised applying AASB 17 paragraph 28B for the current reporting period. Report this item in accordance with AASB 17 Appendix A Defined terms, AASB 17.105A Disclosure and AASB 17.105B Disclosure. Based on the insurer’s interpretation of AASB 17.105A, this item may not apply. |
| Column 7 | Column 7, total current reporting period, is a derived column and is calculated as the sum of columns 1 to 6. |
Item 1: Opening insurance contract liabilities
| Item 1 | Report opening insurance contract liabilities. Report this item in accordance with AASB 17 Appendix A and AASB 17.99 (b) Disclosure. |
Item 2: Opening insurance contract assets
| Item 2 | Report opening insurance contract assets. Report this item in accordance with AASB 17 Appendix A and AASB 17.99 (b) Disclosure. |
Item 3: Net balance as at beginning of reporting period
| Item 3 | Item 3, net balance as at beginning of reporting period, is a derived item and is calculated as the sum of item 1 and item 2. |
Changes in the statement of profit or loss and other comprehensive income (OCI)
Item 4: Insurance revenue
| Item 4 | Report insurance revenue. Report this item in accordance with AASB 17.103 (a) Disclosure. |
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. |
| 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 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 11 | Item 11, total insurance service expenses, is a derived item and is calculated as the sum of items 5 to 10 inclusive. |
Item 12: Investment components and premium refunds
| Item 12 | Report investment components and premium refunds. Report this item in accordance with AASB 17 Appendix A and AASB 17.103 (c) Disclosure. Premium refunds may also be netted against the premiums received as disclosed under AASB 17.105 (a) (i). |
Item 13: Insurance service result
| Item 13 | Item 13, insurance service result, is a derived item and is calculated as the sum of item 4, item 11 and item 12. |
Item 14: Finance expenses from insurance contracts issued
| Item 14 | Report finance expenses from insurance contracts issued. Report this item in accordance with AASB 17 Appendix A and AASB 17.105 (c) Disclosure. |
Item 15: Effect of movements in exchange rates
| Item 15 | Report effect of movements in exchange rates. Report this item in accordance with AASB 17.105 (d) Disclosure. |
Item 16: Total amounts recognised in the statement of profit or loss and OCI
| Item 16 | Item 16, total amounts recognised in the statement of profit or loss and OCI, is a derived item and is calculated as the sum of items 13 to 15 inclusive. |
Cash flows
Report items 17-20 based on AASB 17.98 and 17.105 (a) requirements.
Items 17-20: Cash flows
| Item 17 | Report premiums received. Report this item in accordance with AASB 17.105 (a) (i) Disclosure. |
| Item 18 | Report claims and other expenses paid, including investment components. Report this item in accordance with AASB 17 Appendix A and AASB 17.105 (a) (iii) Disclosure. |
| Item 19 | Report insurance acquisition cash flows. Report this item in accordance with AASB 17 Appendix A, AASB 17.105 (a) (ii) Disclosure and AASB 17.105A Disclosure. |
| Item 20 | Item 20, total cash flows, is a derived item and is calculated as the sum of items 17 to 19 inclusive. |
Items 21-24: Other movements in the net balance
| Item 21 | Report allocation from assets for insurance acquisition cash flows to groups of insurance contracts. Report this item in accordance with AASB 17 Appendix A and AASB 17.105A Disclosure. Based on the insurer’s interpretation of AASB 17.105A, this item may not apply. |
| Item 22 | Report other movements in the net balance that are related to acquisitions/disposals/portfolio transfers. Report this item in accordance with AASB 17.105 (d) Disclosure. |
| Item 23 | Report other movements in the net balance not reported at items 21 and 22. Report this item in accordance with AASB 17.105 (d) Disclosure. |
| Item 24 | Item 24, other movements in the net balance, is a derived item and is calculated as the sum of items 21 to 23 inclusive. |
Item 25: Net balance as at end of reporting period
| Item 25 | Item 25, net balance as at end of reporting period, is a derived item and is calculated as the sum of item 3, item 16, item 20 and item 24. |
Item 26: Closing insurance contract liabilities
| Item 26 | Report closing insurance contract liabilities. Report this item in accordance with AASB 17 Appendix A and AASB 17.99 (b) Disclosure. |
Item 27: Closing insurance contract assets
| Item 27 | Report closing insurance contract assets. Report this item in accordance with AASB 17 Appendix A and AASB 17.99 (b) Disclosure. |
Item 28: Net balance as at end of reporting period
| Item 28 | Item 28, net balance as at end of reporting period, is a derived item and is calculated as the sum of item 26 and item 27. |
Liability Roll Forward 2 – Reconciliation of the measurement components of insurance contract balances
For contracts not measured under the PAA, report the items in the table based on AASB 17.101 requirements.
Report zero values for line items if they are not applicable.
| Column 1 | Report estimates of the present value of the future cash flows for the current reporting period. Report this item in accordance with AASB 17.101 (a) Disclosure. |
| Column 2 | Report the risk adjustment for non-financial risk for the current reporting period. Report this item in accordance with AASB 17 Appendix A and AASB 17.101 (b) Disclosure. |
| Column 3 | Report the contractual service margin (CSM) for the current reporting period. Report this item in accordance with AASB 17 Appendix A and AASB 17.101 (c) Disclosure. |
| Column 4 | Column 4, total current reporting period, is a derived column and is calculated as the sum of columns 1-3. |
Item 1: Opening insurance contract liabilities
| Item 1 | Report opening insurance contract liabilities. Report this item in accordance with AASB 17 Appendix A and AASB 17.99 (b) Disclosure. |
Item 2: Opening insurance contract assets
| Item 2 | Report opening insurance contract assets. Report this item in accordance with AASB 17 Appendix A and AASB 17.99 (b) Disclosure. |
Item 3: Net balance as at beginning of reporting period
| Item 3 | Item 3, net balance as at beginning of reporting period, is a derived item and is calculated as the sum of item 1 and item 2. |
Changes in the statement of profit or loss and OCI
Items 4-7: Changes that relate to current services
| Item 4 | Report CSM recognised for services provided. Report this item in accordance with AASB 17 Appendix A and AASB 17.104 (b) (i) Disclosure. |
| Item 5 | Report change in risk adjustment for non-financial risk for risk expired. Report this item in accordance with AASB 17 Appendix A and AASB 17.104 (b) (ii) Disclosure. |
| Item 6 | Report experience adjustments. Report this item in accordance with AASB 17 Appendix A and AASB 17.104 (b) (iii) Disclosure. |
| Item 7 | Item 7, total changes that relate to current services, is a derived item and is calculated as the sum of items 4 to 6 inclusive. |
Items 8-11: Changes that relate to future services
| Item 8 | Report changes in estimates that adjust the CSM. Report this item in accordance with AASB 17 Appendix A and AASB 17.104 (a) (i) Disclosure. |
| Item 9 | Report changes in estimates that do not adjust the CSM, i.e. losses on groups of onerous contracts and reversals of such losses. Report this item in accordance with AASB 17 Appendix A and AASB 17.104 (a) (ii) Disclosure. |
| Item 10 | Report contracts initially recognised in the period. Report this item in accordance with AASB 17.104 (a) (iii) Disclosure. |
| Item 11 | Item 11, total changes that relate to future services, is a derived item and is calculated as the sum of items 8 to 10 inclusive. |
Item 12: Changes that relate to past services - Changes to liabilities for incurred claims
| Item 12 | Report changes that relate to past services - changes to liabilities for incurred claims. Report this item in accordance with AASB 17.104 (c) Disclosure. |
Item 13: Insurance service result
| Item 13 | Item 13, insurance service result, is a derived item and is calculated as the sum of item 7, item 11 and item 12. |
Item 14: Finance expenses or income from insurance contracts issued
| Item 14 | Report finance expenses or income from insurance contracts issued. Report this item in accordance with AASB 17 Appendix A and AASB 17.105 (c) Disclosure. |
Item 15: Effect of movements in exchange rates
| Item 15 | Report effect of movements in exchange rates. Report this item in accordance with AASB 17.105 (d) Disclosure. |
Item 16: Total amounts recognised in the statement of profit or loss and OCI
| Item 16 | Item 16, total amounts recognised in the statement of profit or loss and OCI, is a derived item and is calculated as the sum of items 13 to 15 inclusive. |
Cash flows
Report items 17-20 based on AASB 17.98 and 17.105 (a) requirements.
Item 17: Premiums received
| Item 17 | Report premiums received for insurance contracts issued. Report this item in accordance with AASB 17 Appendix A and AASB 17.105 (a) (i) Disclosure. |
Item 18: Claims and other expenses paid
| Item 18 | Report claims and other expenses paid. Report this item in accordance with AASB 17.105 (a) (iii) Disclosure. |
Item 19: Insurance acquisition cash flows paid
| Item 19 | Report insurance acquisition cash flows paid. Report this item in accordance with AASB 17 Appendix A and AASB 17.105 (a) (ii) Disclosure. |
Item 20: Total cash flows
| Item 20 | Item 20, total cash flows, is a derived item and is calculated as the sum of items 17 to 19 inclusive. |
Items 21-24: Other movements in the net balance
| Item 21 | Report allocation from assets for insurance acquisition cash flows to groups of insurance contracts. Report this item in accordance with AASB 17 Appendix A and AASB 17.105A Disclosure. Based on the insurer’s interpretation of AASB 17.105A, this item may not apply. |
| Item 22 | Report other movements in the net balance that are related to acquisitions/disposals/portfolio transfers. Report this item in accordance with AASB 17.105 (d) Disclosure. |
| Item 23 | Report other movements in the net balance not reported at items 21 and 22. Report this item in accordance with AASB 17.105 (d) Disclosure. |
| Item 24 | Item 24, other movements in the net balance, is a derived item and is calculated as the sum of items 21 to 23 inclusive. |
Item 25: Net balance as at end of reporting period
| Item 25 | Item 25, net balance as at end of reporting period, is a derived item and is calculated as the sum of item 3, item 16, item 20 and item 24. |
Items 26-28: Closing balances
| Item 26 | Report closing insurance contract liabilities. Report this item in accordance with AASB 17 Appendix A and AASB 17.99 (b) Disclosure. |
| Item 27 | Report closing insurance contract assets. Report this item in accordance with AASB 17 Appendix A and AASB 17.99 (b) Disclosure. |
| Item 28 | Item 28, net balance as at end of reporting period, is a derived item and is calculated as the sum of item 26 and item 27. |
Part B: Reinsurance contracts held (outwards reinsurance by cedant/retrocedent)
Liability Roll Forward 1 – Reconciliation of the asset for remaining coverage and the asset for incurred claims
Report the items in the table based on AASB 17.98, AASB 17.100, AASB 17.105A and AASB 17.105B requirements to provide separate reconciliations for insurance contracts issued and reinsurance contracts held.
Report zero values for line items if they are not applicable.
| Column 1 | Report assets for remaining coverage excluding loss-recovery component for the current reporting period. Report this item in accordance with AASB 17.100 (a) Disclosure. |
| Column 2 | Report the loss-recovery component of assets for remaining coverage for the current reporting period. Report this item in accordance with AASB 17.66B and AASB 17.100 (b) Disclosure. |
| Column 3 | For contracts not measured under the Premium Allocation Approach (PAA), report assets for incurred claims for the current reporting period. Report this item in accordance with AASB 17.100 (c) Disclosure. |
| Column 4 | For contracts measured under PAA, report estimates of the present value of the future cash flows of assets for incurred claims for the current reporting period. Report this item in accordance with AASB 17.100 (c) (i) Disclosure. |
| Column 5 | For contracts measured under PAA, report the risk adjustment for non-financial risk of assets for incurred claims for the current reporting period. Report this item in accordance with AASB 17 Appendix A and AASB 17.100 (c) (ii) Disclosure. |
| Column 6 | Report assets for insurance acquisition cash flows recognised applying AASB 17 paragraph 28B for the current reporting period. Report this item in accordance with AASB 17 Appendix A Defined terms, AASB 17.105A Disclosure and AASB 17.105B Disclosure. Based on the insurer’s interpretation of AASB 17.105A, this item may not apply. |
| Column 7 | Column 7, total current reporting period, is a derived column and is calculated as the sum of columns 1 to 6. |
Item 1: Opening reinsurance contract assets
| Item 1 | Report opening reinsurance contract assets. Report this item in accordance with AASB 17 Appendix A and AASB 17.99 (b) Disclosure. |
Item 2: Opening reinsurance contract liabilities
| Item 2 | Report opening reinsurance contract liabilities. Report this item in accordance with AASB 17 Appendix A and AASB 17.99 (b) Disclosure. |
Item 3: Net balance as at beginning of reporting period
| Item 3 | Item 3, net balance as at beginning of reporting period, is a derived item and is calculated as the sum of item 1 and item 2. |
Net income (expenses) from reinsurance contracts held
Item 4: Reinsurance expenses: Allocation of premiums paid to the reinsurer
| Item 4 | Report reinsurance expenses: allocation of premiums paid to the reinsurer. It is requested that the entity present this item separately from amounts recoverable from reinsurers reported at items 5 to 7 inclusive. Report this item in accordance with AASB 17.86 and AASB 17.103 (a) Disclosure. |
Item 5: Recoveries of incurred claims and other insurance service expenses
| Item 5 | Report recoveries of incurred claims and other insurance service expenses. Report this item in accordance with AASB 17.103 (b) (i) Disclosure and AASB 17.103 (b) (ii) Disclosure. Report recoveries of amortisation of insurance acquisition cash flows if applicable. |
Item 6: Recoveries and reversals of recoveries of losses on onerous underlying contracts
| Item 6 | Report recoveries and reversals of recoveries of losses on onerous underlying contracts Report this item in accordance with AASB 17.103 (b) (iv) Disclosure. |
Item 7: Changes that relate to past service: Changes to assets for incurred claims
| Item 7 | Report changes that relate to past service: Changes to assets for incurred claims. Report this item in accordance with AASB 17.103 (b) (iii) Disclosure. |
Item 8: Amounts recoverable from reinsurers
| Item 8 | Item 8, amounts recoverable from reinsurers, is a derived item and is calculated as the sum of items 5 to 7 inclusive. Report this item in accordance with AASB 17.86 Disclosure and AASB 17.103 (b) Disclosure. |
Item 9: Investment components and premium refunds
| Item 9 | Report investment components and premium refunds. Report this item in accordance with AASB 17 Appendix A and AASB 17.103 (c) Disclosure. Premium refunds may also be netted against the premiums received as disclosed under AASB 17.105 (a) (i). |
Item 10: Cost of retroactive cover on reinsurance contracts held
| Item 10 | Report cost of retroactive cover on reinsurance contracts held. Report this item in accordance with AASB 17 Appendix A and AASB 17.65A Disclosure. Insurers can either report the cost of retroactive cover on reinsurance contracts held at this item, or include it as part of Item 4 Reinsurance expenses: Allocation of premiums paid to the reinsurer. |
Item 11: Impairment of assets for insurance acquisition cash flows
Item 11 | Report impairment of assets for insurance acquisition cash flows 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 12: Reversal of impairment of assets for insurance acquisition cash flows
Item 12 | Report reversal of 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 13: Net income (expenses) from reinsurance contracts held
| Item 13 | Item 13, net income (expenses) from reinsurance contracts held, is a derived item and is calculated as the sum of item 4, and items 8 to 12 inclusive. |
Item 14: Effect of changes in non-performance risk of reinsurers
| Item 14 | Report effect of changes in non-performance risk of reinsurers. Report this item in accordance with AASB 17.105 (b) Disclosure. |
Item 15: Finance income from reinsurance contracts held
| Item 15 | Report finance income from reinsurance contracts held. Report this item in accordance with AASB 17 Appendix A and AASB 17.105 (c) Disclosure. |
Item 16: Effect of movements in exchange rates
| Item 16 | Report effect of movements in exchange rates. Report this item in accordance with AASB 17.105 (d) Disclosure. |
Item 17: Total amounts recognised in the statement of profit or loss and OCI
| Item 17 | Item 17, total amounts recognised in the statement of profit or loss and OCI, is a derived item and is calculated as the sum of items 13 to 16 inclusive. |
Cash flows
Report items 18-21 based on AASB 17.98 and 17.105 (a) requirements.
Item 18: Premiums paid
| Item 18 | Report premiums paid. Report this item in accordance with AASB 17.105 (a) (i) Disclosure. |
Item 19: Amounts received
| Item 19 | Report amounts received. Report this item in accordance with AASB 17.105 (a) (iii) Disclosure. |
| Item 20 | Report insurance acquisition cash flows in accordance with AASB 17 Appendix A, AASB 17.105 (a) (ii) Disclosure and AASB 17.105A Disclosure. |
Item 21: Total cash flows
| Item 21 | Item 21, total cash flows, is a derived item and is calculated as the sum of items 18 to 20 inclusive. |
Items 22-25: Other movements in the net balance
| Item 22 | Report allocation from assets for insurance acquisition cash flows to groups of reinsurance contracts held. Report this item in accordance with AASB 17 Appendix A and AASB 17.105A Disclosure. |
| Item 23 | Report other movements in the net balance that are related to acquisitions, disposals, or portfolio transfers. Report this item in accordance with AASB 17.105 (d) Disclosure. |
| Item 24 | Report other movements in the net balance not reported at items 22 and 23. Report this item in accordance with AASB 17.105 (d) Disclosure. |
| Item 25 | Item 25, other movements in the net balance, is a derived item and is calculated as the sum of items 22 to 24 inclusive. |
Item 26: Net balance as at end of reporting period
| Item 26 | Item 26, net balance as at end of reporting period, is a derived item and is calculated as the sum of item 3, item 17, item 21 and item 25. |
Item 27: Closing reinsurance contract assets
| Item 27 | Report closing reinsurance contract assets. Report this item in accordance with AASB 17 Appendix A and AASB 17.99 (b) Disclosure. |
Item 28: Closing reinsurance contract liabilities
| Item 28 | Report closing reinsurance contract liabilities. Report this item in accordance with AASB 17 Appendix A and AASB 17.99 (b) Disclosure. |
Item 29: Net balance as at end of reporting period
| Item 29 | Item 29, net balance as at end of reporting period, is a derived item and is calculated as the sum of item 27 and item 28. |
Liability Roll Forward 2 – Reconciliation of the measurement components of reinsurance contract balances
For contracts not measured under the PAA, report the items in the table based on AASB 17.98 and AASB 17.101 requirements to provide separate reconciliations for insurance contracts issued and reinsurance contracts held.
Report zero values for line items if they are not applicable.
| Column 1 | Report estimates of the present value of the future cash flows for the current reporting period. Report this item in accordance with AASB 17.101 (a) Disclosure. |
| Column 2 | Report the risk adjustment for non-financial risk for the current reporting period. Report this item in accordance with AASB 17 Appendix A and AASB 17.101 (b) Disclosure. |
| Column 3 | Report the contractual service margin (CSM) for the current reporting period. Report this item in accordance with AASB 17 Appendix A and AASB 17.101 (c) Disclosure. |
| Column 4 | Column 4, total current reporting period, is a derived column and is calculated as the sum of columns 1-3. |
| Item 1 | Report opening reinsurance contract assets. Report this item in accordance with AASB 17 Appendix A and AASB 17.99 (b) Disclosure. |
| Item 2 | Report opening reinsurance contract liabilities. Report this item in accordance with AASB 17 Appendix A and AASB 17.99 (b) Disclosure. |
| Item 3 | Item 3, net balance as at beginning of reporting period, is a derived item and is calculated as the sum of item 1 and item 2. |
| Item 4 | Report CSM recognised for services received. Report this item in accordance with AASB 17 Appendix A and AASB 17.104 (b) (i) Disclosure. |
| Item 5 | Report change in risk adjustment for non-financial risk for risk expired. Report this item in accordance with AASB 17 Appendix A and AASB 17.104 (b) (ii) Disclosure. |
| Item 6 | Report experience adjustments. Report this item in accordance with AASB 17 Appendix A and AASB 17.104 (b) (iii) Disclosure. |
| Item 7 | Item 7, total changes that relate to current services, is a derived item and is calculated as the sum of items 4 to 6 inclusive. |
| Item 8 | Report contracts initially recognised in the period. Report this item in accordance with AASB 17.104 (a) (iii) Disclosure. |
| Item 9 | Report changes in recoveries of losses on onerous underlying contracts that adjust the CSM. Report this item in accordance with AASB 17 Appendix A, AASB 17.105 (d) and AASB 17.66 (ba)–(bb) Disclosure. |
| Item 10 | Report changes in estimates that adjust the CSM. Report this item in accordance with AASB 17 Appendix A and AASB 17.104 (a) (i) Disclosure. |
| Item 11 | Report changes in estimates that relate to losses and reversals of losses on onerous underlying contracts that do not adjust the CSM. Report this item in accordance with AASB 17.104 (a) (ii). |
| Item 12 | Item 12, changes that relate to future services, is a derived item and is calculated as the sum of items 8 to 11 inclusive. |
Item 13: Changes that relate to past services - changes to assets for incurred claims
| Item 13 | Report changes that relate to past services – changes to assets for incurred claims. Report this item in accordance with AASB 17.104 (c) Disclosure. |
| Item 14 | Item 14, net income (expenses) from reinsurance contracts held, is derived and is calculated as the sum of item 7, item 12 and item 13. |
| Item 15 | Report effect of changes in non-performance risk of reinsurers. Report this item in accordance with AASB 17.105 (b) Disclosure. |
Item 16: Finance income (expenses) from reinsurance contracts held
| Item 16 | Report finance income (expenses) from reinsurance contracts held. Report this item in accordance with AASB 17 Appendix A and AASB 17.105 (c) Disclosure. |
| Item 17 | Report the effect of movements in exchange rates. Report this item in accordance with AASB 17.105 (d) Disclosure. |
| Item 18 | Item 18, total amounts recognised in the statement of profit or loss and OCI, is a derived item and is calculated as the sum of items 14 to 17 inclusive. |
Cash flows
Item 19: Premiums paid
| Item 19 | Report premiums paid. Report this item in accordance with AASB 17.105 (a) (i) Disclosure. |
| Item 20 | Report amounts received. Report this item in accordance with AASB 17.105 (a) (iii) Disclosure. |
| Item 21 | Item 21, total cash flows, is a derived item and is calculated as the sum of item 19 and item 20. |
Items 22-24: Other movements in the net balance
| Item 22 | Report other movements in the net balance that are related to acquisitions, disposals, or portfolio transfers. Report this item in accordance with AASB 17.105 (d) Disclosure. |
| Item 23 | Report other movements in the net balance not reported at item 22. Report this item in accordance with AASB 17.105 (d) Disclosure. |
| Item 24 | Item 24, other movements in the net balance, is a derived item and is calculated as the sum of item 22 and item 23. |
Item 25: Net balance as at end of reporting period
| Item 25 | Item 25, net balance as at end of reporting period, is a derived item and is calculated as the sum of item 3, item 18, item 21 and item 24. |
Item 26: Closing reinsurance contract assets
| Item 26 | Report closing reinsurance contract assets. Report this item in accordance with AASB 17 Appendix A and AASB 17.99 (b) Disclosure. |
Item 27: Closing reinsurance contract liabilities
| Item 27 | Report closing reinsurance contract liabilities. Report this item in accordance with AASB 17 Appendix A and AASB 17.99 (b) Disclosure. |
Item 28: Net balance as at end of reporting period
| Item 28 | Item 28, net balance as at end of reporting period, is a derived item and is calculated as the sum of item 26 and item 27. |