Document ID: chunk:federal_register_of_legislation:F2023L00725:front:0:p6
Version: federal_register_of_legislation:F2023L00725
Segment Type: other
Provision Reference: 
Character Range: 13739–16807

For a subsidiary, the domicile is where the counterparty is legally incorporated. For a branch, the domicile is where the counterparty (branch) is located. Where relevant, the counterparty domicile must be reported as stated on the country code list.

Counterparty group name  The name of the group to which the counterparty to the reinsurance exposure belongs. Where relevant, the counterparty group name must be reported as stated on the reinsurer identifier list.

Country code             This means the two-letter country code as assigned by the ISO 3166 Maintenance Agency to a country defined under the International Organization for Standardization's International Standard ISO 3166. The ISO 3166 Maintenance agency maintains a free online database of country codes, available at  https://www.iso.org/iso-3166-country-codes.html.

G
Group domicile  The domicile where the group owning the counterparty is legally incorporated. Where relevant, the group domicile must be reported as stated on the country code list.

I
Insurance Concentration Risk Charge (ICRC)  This is the risk charge determined under Prudential Standard GPS 116 Capital Adequacy: Insurance Concentration Risk Charge.

Insurance Risk Charge                       This is the risk charge determined under Prudential Standard GPS 115 Capital Adequacy: Insurance Risk Charge.

N
Name of counterparty (reinsurer)  The legal name of the counterparty to the reinsurance exposure.

O
OCL surplus / deficit    This is the net liabilities for incurred claims determined under Australian Accounting Standard AASB 17 Insurance Contracts (AASB 17) in surplus or deficit to the net outstanding claims liabilities determined under Prudential Standard GPS 340 Insurance Liability Valuation (GPS 340).

Operational Risk Charge  This is the risk charge determined under Prudential Standard GPS 118 Capital Adequacy: Operational Risk Charge.

P
PL surplus / deficit  This is the net liabilities for remaining coverage determined under AASB 17 in surplus or deficit to the net premiums liabilities determined under GPS 340.

R
Reinsurer identifier       The unique identifier for the counterparty reported in name of counterparty (reinsurer). Where relevant, the reinsurer identifier must be reported as stated on the reinsurer identifier list.

Reinsurer identifier list  This is a list of reinsurers which includes the name of the counterparty, counterparty domicile, counterparty group name and group domicile. The list is located on APRA's website.

T
Total impact on Asset Concentration Risk Charge                Report the change in the Asset Concentration Risk Charge (ACRC) due to the failure of the reinsurer reported in name of counterparty (reinsurer). A Level 2 insurance group must consider whether any existing ACRC due to the reinsurer reported in name of counterparty (reinsurer) is decreased due to its failure. A Level 2 insurance group must also consider whether there is a change in the ACRC (either an increase in an existing ACRC or a new ACRC) due to a decrease in capital