Document ID: chunk:federal_register_of_legislation:F2023L00612:body:0:p7
Version: federal_register_of_legislation:F2023L00612
Segment Type: other
Provision Reference: 
Character Range: 16722–19596

statutory fund eliminations in negative values.
Column 5   Report the total amounts for overseas business statutory fund eliminations in negative values.
Column 6   Column 6 'Total business' is a derived column and is calculated as the sum of columns 4 and 5.
Column 7   Column 7 'Australian business after statutory fund eliminations' is a derived column and is calculated as the sum of columns 1 and 4.
Column 8   Column 8 'Overseas business after statutory fund eliminations' is a derived column and is calculated as the sum of columns 2 and 5.
Column 9   Column 9 'Total business (after statutory fund eliminations)' is a derived column and is calculated as the sum of columns 7 and 8.
Column 10  Report the amounts as applicable for the general fund in positive values.
Column 11  Report the amounts as applicable for general fund eliminations in negative values.
Column 12  Column 12 is a derived column and is calculated as the sum of columns 9, 10 and 11. Total entity is equal to the sum of Total business (after statutory fund eliminations), General fund, and General fund eliminations'

Columns for Statutory fund reporting:
Column 1   Report the amounts for Australian business for the individual statutory fund.
Column 2   Report the amounts for overseas business for the individual statutory fund.
Column 3   Column 3 is a derived column and is calculated as the sum of columns 1 and 2.

 1.               Insurance revenue
Item 1    Item 1 total insurance revenue is a derived item calculated as the sum of items 1.1 to 1.4 inclusive.

          Report this item in accordance with AASB 101.82 (a) (ii) Disclosure, AASB 17.80 (a) and AASB 17.83.
Item 1.1  Report insurance revenue from life insurance direct business.

Item 1.2  Report insurance revenue from life investment direct business.

Item 1.3  Report insurance revenue from inwards reinsurance.

Item 1.4  Report insurance revenue from non-life insurance business.

2.                  Insurance service expense
Item 2      Item 2 total insurance service expense is a derived item calculated as the sum of items 2.1 to 2.4. inclusive.

            Report this item in accordance with AASB 101.82 (ab) Disclosure, AASB 17.80 (a) and AASB 17.84.

Item 2.1    Item 2.1 insurance service expense from life insurance direct business is a derived item and is calculated as the sum of items 2.1.1 to 2.1.6 inclusive.

Item 2.1.1  Report incurred claims from life insurance direct business.

Item 2.1.2  Report other insurance service expenses from life insurance direct business.

            Report insurance acquisition cash flows that have been recognised as expenses when incurred under AASB 17.59(a) at this item.

Item 2.1.3  Report amortisation of insurance acquisition cash flows from life insurance direct business.

Item 2.1.4  Report losses and reversal of losses on onerous contracts from