Document ID: chunk:federal_register_of_legislation:F2023L00717:body:0:p26
Version: federal_register_of_legislation:F2023L00717
Segment Type: other
Provision Reference: 
Character Range: 110849–113694

during the reporting period.
Item L15.5   Report other movements relating to loans on policies.

             This is any other movements relating to policy loans (includes non-forfeiture loans). This includes any interests accrued on policy loans.

Table 2: Accounting Standard Led Method

Reporting basis

This table applies to life insurers, which have participating business. Data must be submitted at the level of each statutory fund. Insurers are to report data relating to participating business only.

This table collects data underlying participating business and applies to life insurers that select the accounting standard led method in accordance with LPS 340, and relates to how Life Act reporting components would be completed from AASB 17 results.

This table is based on the definition of AASB 17 roll-forward reporting components, and links the AASB 17 reporting components to the Life Act reporting components such that Life Act policy liability is the net amount after deducting PRP from the AASB 17 liabilities.

This table collects data items net of reinsurance for the AASB 17 reporting components (unless otherwise stated). Insurers are to report the data items by offsetting reinsurance components against gross components.

This table collects data items gross of tax (unless otherwise stated). Tax must be reported separately under the relevant tax data items.

This table is not completed for statutory funds whose policy liabilities are valued using the VSA led method.

Unless otherwise stated, report all information as at the reporting date.

Units of measurement

Report the dollar values in this table in whole Australian dollars.

Insurers must report data items as positive numbers if the data items result in a higher balance for the component in question. For example, premiums received results in a higher balance of AASB 17 liabilities so this must be reported as a positive number.

Similarly, insurers must report data items as negative numbers if the data items result in a lower balance for the component in question. For example, CSM and RA releases result in lower balances of CSM and RA so they must be reported as negative numbers.

Columns 1 to 6    Report the value for each of the items listed below which relates to EFCF (non-PRP portion) by APRA class of business and by investment account benefits and other benefits.

Columns 7 to 12   Report the value for each of the items listed below which relates to EFCF (PRP portion) by APRA class of business and by investment account benefits and other benefits.

                  EFCF (PRP portion) must be determined within EFCF (and be monitored and reported) separately under the accounting standard led method.

Columns 13 to 18  Report the value for each of the items listed below which relates to RA by APRA class of business