Document ID: chunk:federal_register_of_legislation:F2023L00717:body:0:p28
Version: federal_register_of_legislation:F2023L00717
Segment Type: other
Provision Reference: 
Character Range: 116223–119519

investment account benefits, report withdrawal payments made on death or disability as claims paid.

            Report gross of reinsurance recoveries. Reinsurance recoveries is reported in A2.10.

            AASB 17 liabilities decrease if cash is paid. Note that a payable balance would be included in AASB 17 liabilities.
Item A2.3   Report surrender claims paid including interim and terminal bonus – impact on EFCF (non-PRP portion).

            This is surrender claims paid including interim and terminal bonus for participating business.

            For participating investment account benefits, report withdrawals on surrender as surrender claims paid.

            Amounts relating to loans on policies (includes non-forfeiture loans) are to be reported in A2.5, A2.6 and A2.7.

            AASB 17 liabilities decrease if cash is paid. Note that a payable balance would be included in AASB 17 liabilities.
Item A2.4   Report maturity claims paid including interim and terminal bonus – impact on EFCF (non-PRP portion).

            This is maturity claims paid including interim and terminal bonus for participating business.

            For participating investment account benefits, report withdrawals at maturity as maturity claims paid.

            AASB 17 liabilities decrease if cash is paid. Note that a payable balance would be included in AASB 17 liabilities.
Item A2.5   Report loans on policies issued – impact on EFCF (non-PRP portion).

            This is the amount of policy loans issued (includes non-forfeiture loans) during the reporting period.

            AASB 17 liabilities decrease if policyholders take out loans.
Item A2.6   Report loans on policies repaid – impact on EFCF (non-PRP portion).

            This is the amount of policy loans repaid by policyholders (includes repayments of non-forfeiture loans) during the reporting period.

            AASB 17 liabilities increase if policyholders repay their loans.
Item A2.7   Report other movements relating to loans on policies – impact on EFCF (non-PRP portion).

            This is any other movements relating to policy loans (includes non-forfeiture loans). This includes any interests accrued on policy loans.

            AASB 17 liabilities decrease if interests are accrued on policy loans.
Item A2.8   Report directly attributable expenses paid – impact on EFCF (non-PRP portion).

            This is directly attributable expenses (including commissions) paid relating to participating business. This excludes:

                * the expenses that are reflected in the discount rate for AASB 17 liabilities (reported in A3.2);
                * the expenses that relate to assets backing EFCF (PRP portion) (reported in A4.2); and
                * the expenses that are not directly attributable (reported in A4.3).
            Report gross of tax deduction on these expenses. The tax deduction is reported in A2.13.

            AASB 17 liabilities decrease if cash is paid. Note that a payable balance would be included in AASB 17 liabilities.
Item A2.9   Report reinsurance premiums paid - impact on EFCF (non-PRP portion).

            This is reinsurance premiums paid relating to reinsurance held in respect of participating business.

            Report gross of tax deduction