Document ID: chunk:federal_register_of_legislation:F2023L00607:front:0:p11
Version: federal_register_of_legislation:F2023L00607
Segment Type: other
Provision Reference: 
Character Range: 29735–31805

records of the group for Australian and international business respectively (subject to meeting the GPS 340 requirements).
For international regions, class of business data is not reported in these tables. Level 2 insurance groups, however, will be required to map their international business to the Australian classes of business as defined in GPS 001 in order to assign an insurance risk capital charge and provide a reporting supplement to APRA. Diversification adjustments on international business should be recognised in the risk margin for each geographical region.
Where there is reinsurance between regions, regions are to be reported on a separate basis. That is, the region directly assuming the risks must report as direct business. The region receiving reinsurance must treat this as direct business as well. Where reinsurance occurs between entities in one region, the reinsurance transaction is to be eliminated on consolidation within the reported region. Consolidation adjustments for intra group reinsurance transactions between entities in different regions should be reported in Table 6.

Table 1: OCL Insurance Risk Charge - Australian Business by Class of Business – data preparation
Column 1   Report the value for each of the items listed below.

 Item 1  Report whether actuarial services used to complete this return.
         If actuarial services were used input 'Yes' otherwise input 'No'.
 Item 2  Report the basis of preparation by which OCL have been reported and complete the relevant tables below.

Table 2: OCL Insurance Risk Charge - Australian Business by Class of Business - GPS 340 basis

Reporting basis

Report the components of the GPS 340 OCL for Australian business on a GPS 340 basis (as opposed to deriving the GPS 340 OCL based on accounting records (AASB basis)) by class of business for direct business and reinsurance business.

Units of measurement

Report values in whole Australian dollars.
   Name                                                               Valid values                          Description