Document ID: chunk:federal_register_of_legislation:F2023L00607:reg:8:p2
Version: federal_register_of_legislation:F2023L00607
Segment Type: reg
Provision Reference: reg 8 (pt 2/2)
Character Range: 49647–51046

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 10.

Table 7: OCL Insurance Risk Charge - Australian Business by region – 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 8: OCL Insurance Risk Charge - by region - GPS 340 basis

Reporting basis

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

Units of measurement

Report values in whole Australian dollars.
Report all percentages as percentage points to two decimal places.
   Name                                                               Valid values                Description