Document ID: chunk:federal_register_of_legislation:F2023L00583:front:0:p5
Version: federal_register_of_legislation:F2023L00583
Segment Type: other
Provision Reference: 
Character Range: 11127–14737

is netted against reinsurance contract assets or added to reinsurance contract liabilities under AASB 17.

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

                                                  This amount must be consistent with amounts payable on reinsurance contracts held reported in Reporting Standard HRS 112.0 Determination of Capital Base (HRS 112.0).
Amounts receivable on reinsurance contracts held  This is the value of amounts receivable on reinsurance contracts held. This includes reinsurance recoverables on paid claims.

(Items subject to Asset Risk Charge type)         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 in insurance liabilities determined under HPS 340 to avoid double counting.

                                                  This amount must be consistent with amounts receivable on reinsurance contracts held reported in HRS 112.0.
Assets subject to credit spreads stress type      This is the category of assets subject to credit spreads stress. The options are:

                                                     * bonds and other non-securitised assets;
                                                     * structured and securitised assets; and
                                                     * re-securitised assets.

C

Cash and cash equivalents                  This is the value, as at the relevant date, of notes and coins; deposits withdrawable or redeemable within 24 hours; and securities purchased under agreements to resell.

(Items subject to Asset Risk Charge type)
Claims payable                             This is the value of claims payable, which reflects claims due but not paid.

(Items subject to Asset Risk Charge type)  For inwards reinsurance business, where there is a legal right of set-off within the underlying reinsurance contract, report under this item if the amount after set-off results in a net payable position to the cedant. If there is not a legal right of set-off, report the amount payable without set-off. Also refer to the definition of premiums receivable.

                                           Claims payable is netted against insurance contract assets or added to insurance contract liabilities under AASB 17.

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

                                           This amount must be consistent with claims payable reported in HRS 112.0.
Counterparty grade                         This is the classification applied to an investment or exposure as per the requirements