Document ID: chunk:federal_register_of_legislation:F2023L00572:front:0:p8
Version: federal_register_of_legislation:F2023L00572
Segment Type: other
Provision Reference: 
Character Range: 22561–26840

governing law requirements under GPS 230.
                                                                                                                                                                                                                     This must be reduced by the amount that is likely to become uncollectable in the future.
Reinsurance recoverables on outstanding and paid claims: from non-APRA-authorised reinsurers that are amounts outstanding on and from the second balance date                                                        This is the value of reinsurance recoverables for both paid and outstanding claims against the reporting insurer from non-APRA-authorised reinsurers that are amounts outstanding on and from the second balance date after the financial year in which the event occurred. This item does not include amounts under reinsurance contracts that do not meet the reinsurance documentation test or governing law requirements under GPS 230.
                                                                                                                                                                                                                     This must be reduced by the amount that is likely to become uncollectable in the future.
                                                                                                                                                                                                                     This is calculated as the sum of:
                                                                                                                                                                                                                         * reinsurance recoverables on outstanding and paid claims: from non-APRA-authorised reinsurers that are amounts outstanding on and from the second balance date - supported by security arrangements in Australia; and
                                                                                                                                                                                                                         * reinsurance recoverables on outstanding and paid claims: from non-APRA-authorised reinsurers that are amounts outstanding on and from the second balance date – not supported by security arrangements in Australia.
Reinsurance recoverables on outstanding and paid claims: from non-APRA-authorised reinsurers that are amounts outstanding on and from the second balance date - supported by security arrangements in Australia      This is the value of reinsurance recoverables on outstanding and paid claims: from non-APRA-authorised reinsurers that are amounts outstanding on and from the second balance date, where there is collateral, a guarantee or a letter of credit supporting the reinsurance recoverables. This item does not include amounts under reinsurance contracts that do not meet the reinsurance documentation test or governing law requirements under GPS 230.
Reinsurance recoverables on outstanding and paid claims: from non-APRA-authorised reinsurers that are amounts outstanding on and from the second balance date – not supported by security arrangements in Australia  This is the value of reinsurance recoverables on outstanding and paid claims: from non-APRA-authorised reinsurers that are amounts outstanding on and from the second balance date, where there is no collateral, guarantee or letter of credit supporting the reinsurance recoverables. This item does not include amounts under reinsurance contracts that do not meet the reinsurance documentation test or governing law requirements under GPS 230.
Reinsurance recoverables on outstanding and paid claims: from non-APRA-authorised reinsurers that are overdue for more than 6 months                                                                                 This is the value of reinsurance recoverables for both paid and outstanding claims against the reporting insurer from non-APRA-authorised reinsurers that are receivables overdue for more than six months since a request for payment was made to the reinsurer and where there is no formal dispute between the insurer and reinsurer in relation to the receivables.