Document ID: chunk:federal_register_of_legislation:F2023L00641:body:0:p24
Version: federal_register_of_legislation:F2023L00641
Segment Type: other
Provision Reference: 
Character Range: 86560–89649

derived item and is calculated as the sum of:
                * item 1.2; and
                * item 4.2 multiplied by 1.2
           divided by:
                * item 4.1.
           This ratio is expressed as a percentage.
 Item 4.8  Prescribed capital amount coverage (net assets) is a derived item and is calculated as the sum of:
                * item 1.2;
                * item 2; and
                * item 4.2 multiplied by 1.2
           divided by:
                * item 4.1.
           This ratio is expressed as a percentage.

Table 2: Adjusted Net Assets In Australia

Reporting basis

Report information related to the determination of an insurer's adjusted net assets inside Australia. This should be completed for all insurers. For a Category C insurer, this is as per the requirements of GPS 110.

Units of measurement

Report the values in this table in whole Australian dollars (no decimal place).

Column 1   Report the value for each of the items listed below.

    1. Adjusted net assets in Australia determined from the following:

 Item 1.1      Report the assets in Australia.

 Item 1.2      Report the liabilities in Australia.

 Item 1.3      Net surplus / (deficit) relating to insurance liabilities inside Australia is a derived item and is calculated as the sum of:
                    * item 1.3.1; and
                    * item 1.3.2; and
                    * item 1.3.3;
               less:
                    * item 1.3.4.
 Item 1.3.1    Report the OCL surplus / (deficit) amount inside Australia.

 Item 1.3.2    Report the PL surplus / (deficit) amount inside Australia.

 Item 1.3.3    Report the cost of reinsurance for future business not yet written amount inside Australia.

 Item 1.3.4    Report the tax effect of net OCL and PL surplus / (deficit) amount inside Australia.
               Report any surpluses as a positive figure and any deficits as a negative figure. Do not deduct the tax effect if a deferred tax asset has been recognised in relation to the net surplus / (deficit).
 Item 1.4      Regulatory adjustments to adjusted net assets for accounts receivables inside Australia is a derived item and is calculated as the sum of:
                    * items 1.4.1 to 1.4.4 inclusive
               less:
                    * item 1.4.5.
 Item 1.4.1    Report the premiums receivable inside Australia amount.
               This item is to be reported as a positive number and is a deduction to liabilities in Australia net of surplus / (deficit) relating to insurance liabilities.
 Item 1.4.1.1  Report the premiums receivable expected to be received in 6 months or less inside Australia amount.

 Item 1.4.1.2  Report the premiums receivable expected to be received in more than 6 months inside Australia amount.

 Item 1.4.1.3  Report the premiums receivable on unclosed business inside Australia amount.

 Item 1.4.2    Report the amounts receivable on reinsurance contracts held inside Australia amount.
               This item is to be reported as a positive number and is a deduction to liabilities in Australia net