Document ID: chunk:federal_register_of_legislation:F2023L00707:body:0:p10
Version: federal_register_of_legislation:F2023L00707
Segment Type: other
Provision Reference: 
Character Range: 24445–27400

period

Item 25  Item 25, net balance as at end of reporting period, is a derived item and is calculated as the sum of item 3, item 16, item 20 and item 24.

Items 26-28: Closing balances

Item 26  Report closing insurance contract liabilities.

         Report this item in accordance with AASB 17 Appendix A and AASB 17.99 (b) Disclosure.
Item 27  Report closing insurance contract assets.

         Report this item in accordance with AASB 17 Appendix A and AASB 17.99 (b) Disclosure.
Item 28  Item 28, net balance as at end of reporting period, is a derived item and is calculated as the sum of item 26 and item 27.

Part B: Reinsurance contracts held (outwards reinsurance by cedant/retrocedent)

Liability Roll Forward 1 – Reconciliation of the asset for remaining coverage and the asset for incurred claims

Report the items in the table based on AASB 17.98, AASB 17.100, AASB 17.105A and AASB 17.105B requirements to provide separate reconciliations for insurance contracts issued and reinsurance contracts held.

Report zero values for line items if they are not applicable.
Column 1   Report assets for remaining coverage excluding loss-recovery component for the current reporting period.

           Report this item in accordance with AASB 17.100 (a) Disclosure.
Column 2   Report the loss-recovery component of assets for remaining coverage for the current reporting period.

           Report this item in accordance with AASB 17.66B and AASB  17.100 (b) Disclosure.
Column 3   For contracts not measured under the Premium Allocation Approach (PAA), report assets for incurred claims for the current reporting period.

           Report this item in accordance with AASB 17.100 (c) Disclosure.
Column 4   For contracts measured under PAA, report estimates of the present value of the future cash flows of assets for incurred claims for the current reporting period.

           Report this item in accordance with AASB 17.100 (c) (i) Disclosure.
Column 5   For contracts measured under PAA, report the risk adjustment for non-financial risk of assets for incurred claims for the current reporting period.

           Report this item in accordance with AASB 17 Appendix A and AASB 17.100 (c) (ii) Disclosure.
Column 6   Report assets for insurance acquisition cash flows recognised applying AASB 17 paragraph 28B for the current reporting period.

           Report this item in accordance with AASB 17 Appendix A Defined terms, AASB 17.105A Disclosure and AASB 17.105B Disclosure.

           Based on the insurer's interpretation of AASB 17.105A, this item may not apply.
Column 7   Column 7, total current reporting period, is a derived column and is calculated as the sum of columns 1 to 6.

Item 1: Opening reinsurance contract assets

Item 1  Report opening reinsurance contract assets.

        Report this item in accordance with AASB 17 Appendix A and AASB 17.99 (b) Disclosure.

Item 2: Opening reinsurance contract