Document ID: chunk:federal_register_of_legislation:F2023L00707:body:0:p6
Version: federal_register_of_legislation:F2023L00707
Segment Type: other
Provision Reference: 
Character Range: 14161–17045

changes that relate to future service: losses on onerous contracts and reversals of those losses.

         Report this item in accordance with AASB 17.103 (b) (iv) Disclosure.
Item 8   Report changes that relate to past service: changes to liabilities for incurred claims.

         Report this item in accordance with AASB 17.103 (b) (iii) Disclosure.
Item 9   Report impairment of assets for insurance acquisition cash flows.

         Report this item in accordance with AASB 17 Appendix A, AASB 17.105A and AASB 17.105B Disclosure.

         Based on the insurer's interpretation of AASB 17.105A, this item may not apply.
Item 10  Report reversal of impairment of assets for insurance acquisition cash flows

         Report this item in accordance with AASB 17 Appendix A, AASB 17.105A and AASB 17.105B Disclosure.

         Based on the insurer's interpretation of AASB 17.105A, this item may not apply.
Item 11  Item 11, total insurance service expenses, is a derived item and is calculated as the sum of items 5 to 10 inclusive.

Item 12: Investment components and premium refunds

Item 12  Report investment components and premium refunds.

         Report this item in accordance with AASB 17 Appendix A and AASB 17.103 (c) Disclosure.

         Premium refunds may also be netted against the premiums received as disclosed under AASB 17.105 (a) (i).

Item 13: Insurance service result

Item 13  Item 13, insurance service result, is a derived item and is calculated as the sum of item 4, item 11 and item 12.

Item 14: Finance expenses from insurance contracts issued

Item 14  Report finance expenses from insurance contracts issued.

         Report this item in accordance with AASB 17 Appendix A and AASB 17.105 (c) Disclosure.

Item 15: Effect of movements in exchange rates

Item 15  Report effect of movements in exchange rates.

         Report this item in accordance with AASB 17.105 (d) Disclosure.

Item 16: Total amounts recognised in the statement of profit or loss and OCI

Item 16  Item 16, total amounts recognised in the statement of profit or loss and OCI, is a derived item and is calculated as the sum of items 13 to 15 inclusive.

Cash flows

Report items 17-20 based on AASB 17.98 and 17.105 (a) requirements.

Items 17-20: Cash flows

Item 17  Report premiums received.

         Report this item in accordance with AASB 17.105 (a) (i) Disclosure.
Item 18  Report claims and other expenses paid, including investment components.

         Report this item in accordance with AASB 17 Appendix A and AASB 17.105 (a) (iii) Disclosure.
Item 19  Report insurance acquisition cash flows.

         Report this item in accordance with AASB 17 Appendix A, AASB 17.105 (a) (ii) Disclosure and AASB 17.105A Disclosure.
Item 20  Item 20, total cash flows, is a derived item and is calculated as the sum of items 17 to 19 inclusive.

Items