Document ID: chunk:federal_register_of_legislation:F2023L00702:front:0:p10
Version: federal_register_of_legislation:F2023L00702
Segment Type: other
Provision Reference: 
Character Range: 29590–33599

in accordance with LPS 112 and net life contract liabilities after adjusting for accounts receivable and accounts payable. This item includes any tax effects.

                                                   Net life contract liabilities is the sum of the insurance, reinsurance and investment contract liabilities (net of insurance and reinsurance assets) disclosed in the statutory accounts.
Life company fund                                  This means the type of life company fund. Possible types are:

                                                       * statutory fund;
                                                       * shareholder fund;
                                                       * benefit fund; and
                                                       * management fund.
Listed equities                                    This is the value of equity interests in companies listed on the ASX or overseas exchange, after allowance for look-through (if applicable).

(Items subject to Asset Risk Charge type)          This also includes equities held within Australia and overseas, which are not treated differently for the purpose of determining Asset Risk Charge.
Loans                                              This is the value of loans. Loans include financial leases and mortgages, and are typically non-negotiable on the secondary market.

(Items subject to Asset Risk Charge type)

N
Non-indexed interest-bearing securities    This is the amount of all interest-bearing securities held that are not indexed.

(Items subject to Asset Risk Charge type)

O
Off-balance sheet exposures                                         This is the value of off-balance sheet exposures that are subject to the Asset Risk Charge. This is calculated as the sum of:

                                                                        * total off-balance sheet assets; and
                                                                        * total off-balance sheet liabilities.
Other accounts payable                                              This is the amount related to other amounts due but not yet paid which has been recognised within insurance and reinsurance contract liabilities and assets reported on the balance sheet under AASB 17. This may include (but is not limited to) rebates, fees and commissions.

                                                                    Life companies must exclude any amount already allowed in adjusted policy liabilities to avoid double counting.

                                                                    This amount must be consistent with other accounts payable reported in LRS 112.0 as a component of liability adjustment (gross of tax effect).

                                                                    This item must not be reported as a component of other asset and liability items including adjusted policy liability related items reported in this Reporting Standard.
Other accounts receivable                                           This is the amount related to other amounts due but not yet received which has been recognised within insurance and reinsurance contract liabilities and assets reported on the balance sheet under AASB 17.  This may include (but is not limited to) rebates, fees and commissions.

                                                                    Life companies must exclude any amount already allowed in adjusted policy liabilities to avoid double counting.

                                                                    This amount must be consistent with other accounts receivable reported in LRS 112.0 as a component of liability adjustment (gross of tax effect).

                                                                    This item must not be reported as a component of other asset and liability items including adjusted policy liability related items reported in this Reporting Standard.
Other investment assets (exclude