Document ID: chunk:federal_register_of_legislation:F2023L00635:body:0:p5
Version: federal_register_of_legislation:F2023L00635
Segment Type: other
Provision Reference: 
Character Range: 11301–14093

Inwards reinsurance is any reinsurance business written / reinsurance contracts issued by the reporting insurer.

Each item reported under this Reporting Standard aligns with AASB Standards. The applicable AASB references are specified with each item.

Columns for private health insurers
 Column 1   Report the amount for the HBF by HIB.

            This column does not apply to items 8 – 44 inclusive.
Column 2    Report the amount for the HBF by HRB.

            This column does not apply to items 8 – 44 inclusive.
Column 3    Items 1 to 7 inclusive:

            Column 3 is a derived column for Items 1 to 7 inclusive, and is calculated as the sum of column 1 and column 2.

            Items 8 to 44 inclusive:

            Report the amount for the HBF for items 8 to 44 inclusive (excluding the derived items).
Column 4    Report the amount for the general fund (GF).

            Report nil amounts if the private health insurer (PHI) does not have a GF.
Column 5    Column 5, PHI, is a derived column and is calculated as the sum of column 3 and column 4.

 1.               Insurance revenue
Item 1      Item 1, total insurance revenue, is a derived item and is calculated as the sum of item 1.1 and item 1.2.

            Report this item in accordance with AASB 101.82 (a) (ii) Disclosure, AASB 17.80 (a) and AASB 17.83.
Item 1.1    Item 1.1, insurance revenue from direct business, is a derived item and is calculated as the sum of items 1.1.1 to 1.1.3 inclusive.
Item 1.1.1  Column 1, Column 2 and Column 4:

            Report insurance revenue from direct business for contracts that existed at the transition date to which the entity has applied the modified retrospective approach.

            Column 3:

            Item 1.1.1 is a derived item and is calculated as the sum of column 1 and column 2.
Item 1.1.2  Column 1, Column 2 and Column 4:

            Report insurance revenue from direct business for contracts that existed at the transition date to which the entity has applied the fair value approach.

            Column 3:

            Item 1.1.2 is a derived item and is calculated as the sum of column 1 and column 2.
Item 1.1.3  Column 1, Column 2 and Column 4:

            Report insurance revenue from direct business for all other contracts.

            Column 3:

            Item 1.1.3 is a derived item and is calculated as the sum of column 1 and column 2.
Item 1.2    Item 1.2 insurance revenue from inwards reinsurance business is a derived item and is calculated as the sum of items 1.2.1 to 1.2.3 inclusive.
Item 1.2.1  Column 1, Column 2 and Column 4:

            Report insurance revenue from inwards reinsurance business for contracts that existed at the transition date to which the entity has applied the modified