Document ID: chunk:federal_register_of_legislation:F2023L00715:body:0:p13
Version: federal_register_of_legislation:F2023L00715
Segment Type: other
Provision Reference: 
Character Range: 32435–35385

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 cost of retroactive cover on reinsurance contracts held in 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 derived 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