Document ID: chunk:federal_register_of_legislation:F2023L00624:reg:6
Version: federal_register_of_legislation:F2023L00624
Segment Type: reg
Provision Reference: reg 6
Character Range: 38385–41101

6  Assets Backing Non-participating Benefits With Entitlement To Discretionary Additions              Whole dollars            Report assets backing non-participating benefits with entitlement to discretionary additions amount.

Table 2: All Reinsurance Exposures And Related Risk Mitigants

Reporting basis

This table applies to life companies including friendly societies.  This table applies to non-investment linked statutory, shareholder, non-investmend linked benefit and management funds.

This table applies to reinsurance exposures and related risk mitigant assets (e.g. eligible collateral items and exposures to guarantors that are recognised in place of an underlying reinsurance exposure). Life companies must report the underlying reinsurance exposure and each risk mitigant asset item on a separate line. For example, eligible collateral items of cash (a deposit at a particular bank) and Commonwealth government securities that are held against a reinsurance asset in a collateral trust would be reported on two lines. The underlying reinsurance asset would be reported on a third line.

As per paragraph 23 of LPS 117, where the fund has a significant cumulative exposure through different classes of assets (across both reinsurance and non-reinsurance assets) to a single counterparty or related counterparties, the limit for that counterparty in respect of any particular asset class must be reduced by the lesser of the actual exposure or the exposure limit to that same counterparty in respect of all asset classes with lower limits in Attachment A of LPS 117.

Report all information as at the reporting date.

Reporting threshold

This table is to be completed both on a quarterly and an annual basis for each exposure to a reinsurance counterparty or group of reinsurance counterparties regardless of size.

This table is to be completed both on a quarterly and an annual basis for each eligible collateral item that is being recognised in place of an underlying reinsurance asset where the fair value of the eligible collateral item, after adjusting for derivatives, is greater than one per cent of the fund's VAF for non-reinsurance assets.

This table is to be completed both on a quarterly and an annual basis for each exposure to a guarantor or issuer of a letter of credit that is being recognised in place of an underlying reinsurance asset regardless of the size of the guarantee exposure.

Units of measurement

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

    Name                                                                                                      Valid values                                                  Description