Document ID: chunk:federal_register_of_legislation:F2023L00015:reg:21:p101
Version: federal_register_of_legislation:F2023L00015
Segment Type: reg
Provision Reference: reg 21 (pt 101/101)
Character Range: 311095–312022

PBE IFRS 19) because the relevant entities are Australian.
[26] For a consolidated group that is not an insurer, the captive insurer would typically organise the group's insurance coverage. For a consolidated group that is an insurer, the captive insurer would typically organise the group's reinsurance coverage.
[27] A captive insurer seems most likely to be classified as a PFC, although it's possible there may be captives that are classified as a public non-financial corporation (PNFC).
[28] Private sector captive insurers in Australia and New Zealand must prepare stand-alone financial statements because they are registered insurance companies – accordingly, similar debates about the form of reporting generally do not arise.
[29] This could be all the entity's activities or only a portion of its activities.
[30] Although there would be no current coverage, a past coverage period may be determinable in some cases.