Document ID: chunk:federal_register_of_legislation:F2023L00720:front:0:p5
Version: federal_register_of_legislation:F2023L00720
Segment Type: other
Provision Reference: 
Character Range: 11216–14459

GRS 460.1 are made available to APRA upon request from the general insurer's responsible supervisor.

Definitions
Terms highlighted in bold italics indicate that the definition is provided in these instructions.

A
APRA counterparty grade                 The counterparty grade of 1 to 7 in accordance with Prudential Standard GPS 001 Definitions (GPS 001).

Asset Concentration Risk Charge (ACRC)  This is the risk charge determined under Prudential Standard GPS 117 Capital Adequacy: Asset Concentration Risk Charge.

Asset Risk Charge                       This is the risk charge determined under Prudential Standard GPS 114 Capital Adequacy: Asset Risk Charge.

C

Capital coverage         This is the general insurer's capital base, determined under Prudential Standard GPS 112 Capital Adequacy: Measurement of Capital, divided by its prescribed capital amount, determined under Prudential Standard GPS 110 Capital Adequacy.

Counterparty domicile    For a subsidiary, the domicile is where the counterparty is legally incorporated. For a branch, the domicile is where the counterparty (branch) is located. Where relevant, the counterparty domicile must be reported as stated on the country code list.

Counterparty group name  The name of the group to which the counterparty to the reinsurance exposure belongs. Where relevant, the counterparty group name must be reported as stated on the reinsurer identifier list.

Country code             This means the two-letter country code as assigned by the ISO 3166 Maintenance Agency to a country defined under the International Organization for Standardization's International Standard ISO 3166. The ISO 3166 Maintenance agency maintains a free online database of country codes, available at  https://www.iso.org/iso-3166-country-codes.html.

G

Group domicile  The domicile where the group owning the counterparty is legally incorporated. Where relevant, the group domicile must be reported as stated on the country code list.

I
Insurance Concentration Risk Charge (ICRC)  This is the risk charge determined under Prudential Standard GPS 116 Capital Adequacy: Insurance Concentration Risk Charge.

Insurance Risk Charge                       This is the risk charge determined under Prudential Standard GPS 115 Capital Adequacy: Insurance Risk Charge.

N

Name of counterparty (reinsurer)  The legal name of the counterparty to the reinsurance exposure.

O

OCL surplus / deficit    This is the net liabilities for incurred claims determined under Australian Accounting Standard AASB 17 Insurance Contracts (AASB 17) in surplus or deficit to the net outstanding claims liabilities determined under Prudential Standard GPS 340 Insurance Liability Valuation (GPS 340).

Operational Risk Charge  This is the risk charge determined under Prudential Standard GPS 118 Capital Adequacy: Operational Risk Charge.

P

PL surplus / deficit  This is the net liabilities for remaining coverage determined under AASB 17 in surplus or deficit to the net premiums liabilities determined under GPS 340.

R

Reinsurer identifier       The unique identifier for the counterparty reported in name of counterparty (reinsurer). Where relevant, the reinsurer identifier must be reported