Document ID: chunk:federal_register_of_legislation:F2023L00614:body:0:p4
Version: federal_register_of_legislation:F2023L00614
Segment Type: other
Provision Reference: 
Character Range: 8189–11323

insurer.

Variations

15.         APRA may, by written notice to the insurer, vary the reporting requirements of this Reporting Standard in relation to that insurer.

Interpretation

16.         In this Reporting Standard:

    (a)          unless the contrary intention appears, words and expressions have the meanings given to them in Prudential Standard GPS 001 Definitions (GPS 001); and

    (b)          the following definitions are applicable:

    Appointed Auditor means an auditor appointed under paragraph 39(1)(a) of the Insurance Act;

    APRA-authorised reinsurer means an insurer carrying on reinsurance business.  For the purposes of this definition, a Lloyd's underwriter as defined under the Insurance Act is an APRA-authorised reinsurer if it carries on reinsurance business. The Australian Reinsurance Pool Corporation is also an APRA-authorised reinsurer for the purposes of this definition;

    capital standards means the prudential standards which relate to capital adequacy as defined in GPS 001;

    Chief Financial Officer means the chief financial officer of the insurer, by whatever name called;

    financial year means the financial year (within the meaning in the Corporations Act 2001) of the insurer;

    foreign insurer means a foreign general insurer within the meaning of the Insurance Act;

    Note: A reference to a 'branch' or 'branch operation' is a reference to the Australian operations of a foreign insurer.

    general instruction guide refers to the general instruction guide set out in Attachment A of GRS 001;

    Insurance Act means the Insurance Act 1973;

    insurer means a general insurer within the meaning of section 11 of the Insurance Act;

    Note: In this Reporting Standard, a reference to an 'authorised insurer', 'authorised insurance entity' or 'licensed insurer' is a reference to an insurer, and a reference to an 'authorised reinsurance entity' is a reference to an insurer whose business consists only of undertaking liability by way of reinsurance.

    non-APRA-authorised reinsurer means any reinsurer that is not an APRA-authorised reinsurer;

    Principal Executive Officer means the principal executive officer of the insurer, by whatever name called, and whether or not he or she is a member of the governing board of the insurer; and

    reporting period means a period mentioned in subparagraph 6(a) or 6(b) or, if applicable, paragraph 7.

17.         Unless the contrary intention appears, a reference to an Act, Prudential Standard, Reporting Standard, Australian Accounting or Auditing Standard is a reference to the instrument as in force from time to time.

Reporting Standard GRS 311.0

Statement of Profit or Loss and Other Comprehensive Income by Product Group

General instructions

These instructions assist completion of Reporting Standard GRS 311.0 Statement of Profit or Loss and Other Comprehensive Income by Product Group. This Reporting Standard collects income statement data by APRA product groups (classes of business).

Reporting tables

Tables described in this reporting standard list each of the