Document ID: chunk:federal_register_of_legislation:F2023L00633:body:0:p5
Version: federal_register_of_legislation:F2023L00633
Segment Type: other
Provision Reference: 
Character Range: 11259–14600

'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.

    18.         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 110.0

Prescribed Capital Amount

General instructions

Reporting tables

Tables described in this reporting standard list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.

Category of insurer

The different categories of insurer are defined in GPS 001.

Definitions

Terms in bold italics are defined in this Definitions section of these instructions.

A
Adjustments to prescribed capital amount as approved by APRA  These are adjustments made to an insurer's prescribed capital amount if APRA is of the view that the Standard Method for calculating the prescribed capital amount does not produce an appropriate outcome in respect of a reporting insurer, or a reporting insurer has used inappropriate judgement or estimation in calculating the prescribed capital amount.

                                                              Approved adjustments are to be reported separately in the Reporting Standard GRS 111.0 Adjustments and Exclusions highlighting the description of the adjustment given, transitional status and amount of adjustment applied. An increase in the risk charge is to be reported as a positive amount.

Aggregation benefit                                           The aggregation benefit makes an explicit allowance for diversification between asset risk and the sum of insurance risk and insurance concentration risk in the calculation of the prescribed capital amount.

                                                              This must be determined in accordance with GPS 110.
Asset Concentration Risk Charge                               The Asset Concentration Risk Charge is the minimum amount of capital required to be held against asset concentration risks. The Asset Concentration Risk Charge relates to the risk resulting from investment concentrations in individual assets or large exposures to individual counterparties or groups of related counterparties resulting in adverse movements in the reporting insurer's capital base.

                                                              This must be determined in accordance with Prudential Standard GPS 117 Capital Adequacy: Asset Concentration Risk Charge.
Asset Risk Charge                                             The Asset Risk