Document ID: chunk:federal_register_of_legislation:F2023L00604:reg:14:p8
Version: federal_register_of_legislation:F2023L00604
Segment Type: reg
Provision Reference: reg 14 (pt 8/12)
Character Range: 29761–33872

companies must report data items by insurance business where required. Insurance business can either be:

                                               * in-force business;
                                               * new business; and
                                               * all business consisting of in-force business and new business.

                                          They can further be broken down into the following:

                                               * in-force business – Unstressed RFBEL (gross of reinsurance);
                                               * in-force business – Unstressed RFBEL (net of reinsurance);
                                               * new business – Unstressed RFBEL (gross of reinsurance);
                                               * new business – Unstressed RFBEL (net of reinsurance);
                                               * all business – Unstressed RFBEL (gross of reinsurance);
                                               * all business – Unstressed RFBEL (net of reinsurance);
                                               * all business – Stressed RFBEL (gross of reinsurance); and
                                               * all business – Stressed RFBEL (net of reinsurance).

Insurance benefit                         This is the type of insurance benefit that a life policy can include. Life companies must report data items by insurance benefit where required. Insurance benefits can be:

                                               * non-participating benefits;
                                               * participating benefits;
                                               * friendly society benefits; or
                                               * all benefits consisting of non-participating benefits, participating benefits and friendly society benefits.

                                          Non-participating benefits can either be:

                                               * non-participating benefits without entitlement to discretionary additions; or
                                               * non-participating benefits with entitlement to discretionary addition.

L

Life company fund          This means the type of life company fund. Possible types are:

                                * statutory fund; and
                                * benefit fund.

Longevity pre-diversified  This is the change in RFBEL (net of reinsurance) or participating policy liability (net of reinsurance), whichever that is applicable as a result of applying the longevity stress prior to any allowance for diversification benefits between the insurance stresses.

M

Morbidity future pre-diversified  This is the change in RFBEL (net of reinsurance) or participating policy liability (net of reinsurance), whichever that is applicable as a result of applying the morbidity future stress prior to any allowance for diversification benefits between the insurance stresses.

Morbidity random pre-diversified  This is the change in RFBEL (net of reinsurance) or participating policy liability (net of reinsurance), whichever that is applicable as a result of applying the morbidity random stress prior to any allowance for diversification benefits between the insurance stresses.

Mortality future pre-diversified  This is the change in RFBEL (net of reinsurance) or participating policy liability (net of reinsurance), whichever that is applicable as a result of applying the mortality future stress prior to any allowance for diversification benefits between the insurance stresses.

Mortality random pre-diversified  This is the change in RFBEL (net of reinsurance) or participating policy liability (net of reinsurance), whichever that is applicable as a result of applying the mortality random stress prior to any allowance for diversification benefits between the insurance stresses.

N

New business          This is new business commenced during reporting period. New business is defined in LRS 750.0 Claims and Disputes. Life companies that