Document ID: chunk:federal_register_of_legislation:F2023L00641:body:0:p13
Version: federal_register_of_legislation:F2023L00641
Segment Type: other
Provision Reference: 
Character Range: 42119–46723

and commissions.

                                                                                         Other accounts receivable on insurance contracts issued is netted against insurance contract liabilities or added to insurance contract assets under AASB 17.

                                                                                         This must exclude any amount already allowed in insurance liabilities determined under GPS 340 to avoid double counting.

Other Common Equity Tier 1 Capital adjustments                                           This is the value of deductions from Common Equity Tier 1 Capital that the reporting insurer must make as required under any prudential standards other than GPS 112.

Other gains and losses in accumulated comprehensive income and other disclosed reserves  This is the value of any other gains and losses in accumulated comprehensive income and other disclosed reserves that may be specified in writing by APRA as per GPS 112.

Other intangible assets                                                                  This is the value of intangible assets, other than goodwill, as per GPS 112, net of adjustments to profit or loss reflecting changes arising from any impairment and amortisation. The amounts reported must be net of any associated deferred tax liability that would be extinguished if the assets involved become impaired or derecognised under Australian Accounting Standards.

                                                                                         This item also includes the intangible assets attributable to certain categories of subsidiaries, associates and joint ventures of the reporting insurer as per GPS 112.

Other retained earnings movements                                                        For a non-category C insurer, this consists of all other retained earnings movements not specifically categorised as:

                                                                                             * profit (loss) after income tax attributable to members of the company;
                                                                                             * adjustments to retained earnings due to changes in accounting policies / standards;
                                                                                             * amounts transferred to / from reserve; or
                                                                                             * dividends declared or paid.

                                                                                         For a category C insurer, this consists of all other retained profit movements not specifically categorised as:

                                                                                             * profit (loss) after income tax attributable to members of the company;
                                                                                             * adjustments to retained earnings due to changes in accounting policies / standards;
                                                                                             * amounts transferred to / from reserves;
                                                                                             * aggregate of amounts transferred from parent entity;
                                                                                             * aggregate of amounts transferred to parent entity; or
                                                                                             * head office transfers declared or paid.

P

Paid-up ordinary shares                                                This represents paid-up ordinary shares issued by the reporting insurer that meet the criteria for classification as ordinary shares for regulatory purposes in accordance with GPS 112.

PL surplus / (deficit)                                                 For remaining coverage, this is the insurance and reinsurance contract liabilities after deducting insurance and reinsurance contract assets determined under Australian Accounting Standards in surplus (positive figure) or deficit (negative figure) to the net premiums liabilities determined under GPS 340.

Premiums receivable                                                    This is the value of unpaid premiums in relation to direct insurance business and inwards reinsurance business. Unpaid premiums include premiums that are due to be received, unpaid premiums available for collection, and premiums not yet available