Document ID: chunk:federal_register_of_legislation:F2023L00641:body:0:p7
Version: federal_register_of_legislation:F2023L00641
Segment Type: other
Provision Reference: 
Character Range: 18650–22538

to retained earnings during the reporting period. This item refers only to funds that are capital contributions from the parent entity and are not required to be repaid.

Aggregate of amounts transferred to parent entity                                          Report the amount of dividends or funds transferred to the parent entity during the reporting period.

Amounts payable on reinsurance contracts held                                              This is the value of amounts payable on reinsurance contracts held. This includes reinsurance premiums that are due to be paid, all unpaid instalment reinsurance premiums, reinsurer's portion of recoveries and salvage, and commissions due to reinsurers. This also includes deposits withheld from reinsurers.

                                                                                           For reinsurance contracts held, if there is a legal right of set-off within the underlying reinsurance contracts, report the amount after set-off against other amounts receivable from the reinsurer under that reinsurance contract. If the amount is a net receivable position from the reinsurer, report the amount under amounts receivable on reinsurance contracts held. If there is not a legal right of set-off, report the amount payable without set-off. Also refer to the definition of amounts receivable on reinsurance contracts held.

                                                                                           Amounts payable on reinsurance contracts held is netted against reinsurance contract assets or added to reinsurance contract liabilities under Australian Accounting Standards Board 17 Insurance Contracts (AASB 17).

                                                                                           This must exclude any amount already allowed in insurance liabilities determined under Prudential Standard GPS 340 Insurance Liability Valuation (GPS 340) to avoid double counting.

Amounts receivable on reinsurance contracts held                                           This is the value of amounts receivable on reinsurance contracts held. This includes reinsurance recoverables on paid claims.

                                                                                           For reinsurance contracts held, if there is a legal right of set-off within the underlying reinsurance contracts, report the amount after set-off against other amounts payable to the reinsurer under that reinsurance contract. If the amount is a net payable position to the reinsurer, report the amount under amounts payable on reinsurance contracts held. If there is not a legal right of set-off, report the receivable amount without set-off. Also refer to the definition of amounts payable on reinsurance contracts held.

                                                                                           Amounts receivable on reinsurance contracts held is netted against reinsurance contract liabilities or added to reinsurance contract assets under AASB 17.

                                                                                           This must exclude any amount already allowed insurance liabilities determined under GPS 340 to avoid double counting.

Amounts transferred to / from reserves                                                     This is the value, for the relevant period, of funds that have been transferred to (from) retained earnings from (to) reserves.

Assets in Australia                                                                        This represents the reporting insurer's assets which are to be treated as assets in Australia under the Insurance Act reported under Reporting Standard GRS 300.0 Statement of Financial Position (GRS 300.0).

Assets under a fixed or floating charge                                                    This is the value