Other Accounting And Financial Disclosures The transfer of funds between local and international entities. Equity International Dealings Foreign Fund Transfers Amount Report, where indirect holdings of cash exposures to a counterparty exist, the details of the direct holding through which these indirect holdings are held. This information should detail the name(s) of the counterparties through which indirect holdings of the reporting party are held. An exposure to a counterparty, or a group of related counterparties, is the aggregate of all claims, commitments and contingent liabilities arising from on- and off-balance sheet transactions with the counterparty or group of related counterparties. Financial Risk Exposures Cash Indirect Holdings Details Text Report the net market value, or fair value, of exposures to directly held derivative financial instruments. Derivatives are generally defined as those instruments/contracts, where the value is based on other products, and/or on prices associated with financial products. Derivative contracts involve: - Future delivery, receipt or exchange of financial items such as cash or another derivative instrument; or - Future exchange of real assets for financial items where the contract may be tradeable and has a market value. The contracts can either be binding on both parties (e.g. as with a currency swap) or subject to the exercise by one party of a right contained within the contract (as with options). An exposure represents a claim or commitment of an entity, recorded both on and off the balance sheet and which can be the following in nature: (a) Credit exposures (i.e. such as a money market placement with a Bank or holding of a corporation's debt securities); (b) Asset exposures that are not in the nature of a credit exposure (e.g. a direct property investment); and (c) Exposures in the nature of a liability or obligation to a single party or group of related parties. An off-balance sheet exposure refers to an item that is not recognised in the statement of financial position, such as contingent assets and liabilities. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Exposures Derivative Financial Instruments Directly Held Net Market Value Amount Report, where indirect holdings of equity security exposures to a counterparty exist, the details of the direct holding through which these indirect holdings are held. This information should detail the name(s) of the counterparties through which indirect holdings of the reporting party are held. An exposure to a counterparty, or a group of related counterparties, is the aggregate of all claims, commitments and contingent liabilities arising from on- and off-balance sheet transactions with the counterparty or group of related counterparties. Financial Risk Exposures Equity Securities Indirect Holdings Details Text Report, where indirect holdings of Indexed Interest Bearing Security exposures to a counterparty exist, the details of the direct holding through which these indirect holdings are held. This information should detail the name(s) of the counterparties through which indirect holdings of the reporting party are held. An exposure to a counterparty, or a group of related counterparties, is the aggregate of all claims, commitments and contingent liabilities arising from on- and off-balance sheet transactions with the counterparty or group of related counterparties. Financial Risk Exposures Indexed Interest Bearing Securities Indirect Holdings Details Text Report, where indirect holdings of investment property exposures to a counterparty exist, the details of the direct holding through which these indirect holdings are held. This information should detail the name(s) of the counterparties through which indirect holdings of the reporting party are held. An exposure to a counterparty, or a group of related counterparties, is the aggregate of all claims, commitments and contingent liabilities arising from on- and off-balance sheet transactions with the counterparty or group of related counterparties. Financial Risk Exposures Investment Property Indirect Holdings Details Text Report the net market value, or fair value, of exposures classified as investments. Investments represent assets or liabilities acquired or incurred principally for profit-taking purposes, and which have not been classified as trading. An exposure represents a claim or commitment of an entity, recorded both on and off the balance sheet and which can be the following in nature: (a) Credit exposures (i.e. such as a money market placement with a Bank or holding of a corporation's debt securities); (b) Asset exposures that are not in the nature of a credit exposure (e.g. a direct property investment); and (c) Exposures in the nature of a liability or obligation to a single party or group of related parties. An off-balance sheet exposure refers to an item that is not recognised in the statement of financial position, such as contingent assets and liabilities. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Exposures Investments Net Market Value Amount Report, where indirect holdings of loan exposures to a counterparty exist, the details of the direct holding through which these indirect holdings are held. This information should detail the name(s) of the counterparties through which indirect holdings of the reporting party are held. An exposure to a counterparty, or a group of related counterparties, is the aggregate of all claims, commitments and contingent liabilities arising from on- and off-balance sheet transactions with the counterparty or group of related counterparties. Financial Risk Exposures Loans Indirect Holdings Details Text Report the net market value, or fair value, of exposures. An exposure represents a claim or commitment of an entity, recorded both on and off the balance sheet and which can be the following in nature: (a) Credit exposures (i.e. such as a money market placement with a Bank or holding of a corporation's debt securities); (b) Asset exposures that are not in the nature of a credit exposure (e.g. a direct property investment); and (c) Exposures in the nature of a liability or obligation to a single party or group of related parties. An off-balance sheet exposure refers to an item that is not recognised in the statement of financial position, such as contingent assets and liabilities. Net market value or fair value, as defined by the Australian Accounting Standards is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Exposures Net Market Value Amount Report, where indirect holdings of Non-Indexed Interest Bearing Security exposures to a counterparty exist, the details of the direct holding through which these indirect holdings are held. This information should detail the name(s) of the counterparties through which indirect holdings of the reporting party are held. An exposure to a counterparty, or a group of related counterparties, is the aggregate of all claims, commitments and contingent liabilities arising from on- and off-balance sheet transactions with the counterparty or group of related counterparties. Financial Risk Exposures Non Indexed Interest Bearing Securities Indirect Holdings Details Text Report, where indirect holdings of Other Investment Asset exposures to a counterparty exist, the details of the direct holding through which these indirect holdings are held. This information should detail the name(s) of the counterparties through which indirect holdings of the reporting party are held. Other Investment Assets represent those which are required to be reported on APRA form LRF_220_0. An exposure to a counterparty, or a group of related counterparties, is the aggregate of all claims, commitments and contingent liabilities arising from on- and off-balance sheet transactions with the counterparty or group of related counterparties. Financial Risk Exposures Other Investment Assets Indirect Holdings Details LRF 220 0 Text Report, where indirect holdings of other Non-Investment Asset exposures to a counterparty exist, the details of the direct holding through which these indirect holdings are held. This information should detail the name(s) of the counterparties through which indirect holdings of the reporting party are held. Other Non-Investment Assets represent those which are required to be reported on APRA form LRF_220_0. An exposure to a counterparty, or a group of related counterparties, is the aggregate of all claims, commitments and contingent liabilities arising from on- and off-balance sheet transactions with the counterparty or group of related counterparties. Financial Risk Exposures Other Non Investment Assets Indirect Holdings Details LRF 220 0 Text Report the description of other exposures, as required to be reported on APRA forms SRF_120_0, SRF_220_0 and SRF_320_0. This description includes other reported exposures that are not categorised as any of the following: - Securities Under Agreement to Resell; - Receivables; - Investments; - Member Benefits Payable; - Borrowings; - Derivative Instruments; or - Payables and Creditors. An exposure represents a claim or commitment of an entity, recorded both on and off the balance sheet and which can be of the following in nature: (a) Credit exposures (i.e. such as a money market placement with a Bank or holding of a corporation's debt securities); (b) Asset exposures that are not in the nature of a credit exposure (e.g. a direct property investment); and (c) Exposures in the nature of a liability or obligation to a single party or group of related parties. An off-balance sheet exposure refers to an item that is not recognised in the statement of financial position, such as contingent assets and liabilities. Financial Risk Exposures Other SRF 120 0 SRF 220 0 SRF 320 0 Description Report, where indirect holdings of receivable exposures to a counterparty exist, the details of the direct holding through which these indirect holdings are held. This information should detail the name(s) of the counterparties through which indirect holdings of the reporting party are held. An exposure to a counterparty, or a group of related counterparties, is the aggregate of all claims, commitments and contingent liabilities arising from on- and off-balance sheet transactions with the counterparty or group of related counterparties. Financial Risk Exposures Receivables Indirect Holdings Details Text Report the value of admissible assets with non-standard resilience factors adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the capital adequacy standards. The value of admissible assets with non-standard resilience factors is the net market value, or fair value, of assets where the actuary has considered that non-standard resilience factors are appropriate. This should only be used in rare cases. It is intended to cover situations where assets are disaggregated into (1) an identifiable sub-asset and (2) a residual that does not fit into any of the asset sectors specified by Life Insurance Prudential Standards for resilience purposes, or where a non-standard resilience risk has been modelled in accordance with Life Insurance Prudential Standards. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Capital Adequacy Adjusted Admissible Assets Non Standard Resillience Factors Amount Report the value of admissible cash assets with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the capital adequacy standards. Admissible cash assets is the value of Cash and Liquid Assets as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Adjusted Admissible Cash Amount Report the Credit Risk Default Adjustment in relation to the admissible value of tax assets with a resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the capital adequacy standards. The admissible value of tax assets is the value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are those tax assets dependent on the ongoing conduct of business, for example tax losses that require future taxable income in order to be realised. Financial Risk Capital Adequacy Adjusted Admissible DTA Amount Report the value of admissible equity investment securities with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the capital adequacy standards. Admissible equity investment securities is the value of all equity investment securities consistent with the classification and measurement basis used for Investment Securities in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Adjusted Admissible Equities Amount Report the value of admissible indexed debt securities with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the capital adequacy standards. Indexed securities pay an income stream that is dependent upon an external factor. Admissible debt securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Adjusted Admissible Indexed IBS Amount Report the value of admissible Investment Property with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the capital adequacy standards. Admissible Investment Property is the net market value of the entity's holdings of property investments as determined in accordance with the relevant accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. This includes investments in property by way of units in property trusts or other indirect investment methods as well as investments in real property (land and buildings). The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Adjusted Admissible Investment Property Amount Report the value of admissible loan assets with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the capital adequacy standards. Admissible loan assets is the value of total Loans and Advances as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Adjusted Admissible Loans Amount Report the value of admissible non indexed debt securities with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the capital adequacy standards. Non-indexed securities pay an income stream that is not dependent upon any external factor. Admissible debt securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Adjusted Admissible Non Indexed IBS Amount Report the value of admissible other investment assets with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the capital adequacy standards. Admissible other investment assets is the value of the total assets acquired with the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Adjusted Admissible Other Investment Assets Amount Report the value of admissible other non-investment assets with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the capital adequacy standards. Admissible other non-investment assets is the value of the total assets acquired without the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Adjusted Admissible Other Non Investment Assets Amount Report the value of admissible Gross Policy Liabilities ceded under reinsurance with a resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the capital adequacy standards. The admissible value is the net market value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Capital Adequacy Adjusted Admissible Policy Liability Reinsurance Amount Report the value of admissible receivables with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the capital adequacy standards. Admissible receivables is the value of Total Receivables as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Adjusted Admissible Receivables Amount Report the value of total admissible assets with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the capital adequacy standards. Total admissible assets is the value of total assets as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Adjusted Admissible Total Amount Report the value of admissible assets with non-standard resilience factors at the adjusted yield, as per the capital adequacy standard. The Adjusted Yield is determined in accordance with the capital adequacy standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. The value of admissible assets with non-standard resilience factors is the net market value, or fair value, of assets where the actuary has considered that non-standard resilience factors are appropriate. This should only be used in rare cases. It is intended to cover situations where assets are disaggregated into (1) an identifiable sub-asset and (2) a residual that does not fit into any of the asset sectors specified by Life Insurance Prudential Standards for resilience purposes, or where a non-standard resilience risk has been modelled in accordance with Life Insurance Prudential Standards. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Capital Adequacy Adjusted Yield Assets Non Standard Resillience Factors Amount Report the value of admissible cash assets with resilience requirement at the adjusted yield, as per the capital adequacy standard. The Adjusted Yield is determined in accordance with the capital adequacy standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible cash assets is the value of Cash and Liquid Assets as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Adjusted Yield Cash Amount Report the admissible value of tax assets with a resilience requirement at the adjusted yield, as per the capital adequacy standard. The Adjusted Yield is determined in accordance with the capital adequacy standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. The admissible value of tax assets is the value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are those tax assets dependent on the ongoing conduct of business, for example tax losses that require future taxable income in order to be realised. Financial Risk Capital Adequacy Adjusted Yield DTA Amount Report the value of admissible equity investment securities with resilience requirement at the adjusted yield, as per the capital adequacy standard. The Adjusted Yield is determined in accordance with the capital adequacy standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible equity investment securities is the value of all equity investment securities consistent with the classification and measurement basis used for Investment Securities in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Adjusted Yield Equities Amount Report the value of admissible indexed debt securities with resilience requirement at the adjusted yield, as per the capital adequacy standard. Indexed securities pay an income stream that is dependent upon an external factor. The Adjusted Yield is determined in accordance with the capital adequacy standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible debt securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Adjusted Yield Indexed IBS Amount Report the value of admissible Investment Property with resilience requirement at the adjusted yield, as per the capital adequacy standard. The Adjusted Yield is determined in accordance with the capital adequacy standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible Investment Property is the net market value of the entity's holdings of property investments as determined in accordance with the relevant accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. This includes investments in property by way of units in property trusts or other indirect investment methods as well as investments in real property (land and buildings). The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Adjusted Yield Investment Property Amount Report the value of admissible loan assets with resilience requirement at the adjusted yield, as per the capital adequacy standard. The Adjusted Yield is determined in accordance with the capital adequacy standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible loan assets is the value of total Loans and Advances as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Adjusted Yield Loans Amount Report the value of admissible non indexed debt securities with resilience requirement at the adjusted yield, as per the capital adequacy standard. Non-indexed securities pay an income stream that is not dependent upon any external factor. The Adjusted Yield is determined in accordance with the capital adequacy standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible debt securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Adjusted Yield Non Indexed IBS Amount Report the value of admissible other investment assets with resilience requirement at the adjusted yield, as per the capital adequacy standard. The Adjusted Yield is determined in accordance with the capital adequacy standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible other investment assets is the value of the total assets acquired with the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Adjusted Yield Other Investment Assets Amount Report the value of admissible other non-investment assets with resilience requirement at the adjusted yield, as per the capital adequacy standard. The Adjusted Yield is determined in accordance with the capital adequacy standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible other non-investment assets is the value of the total assets acquired without the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Adjusted Yield Other Non Investment Assets Amount Report the admissible value of Gross Policy Liabilities ceded under reinsurance with a resilience requirement at the adjusted yield, as per the capital adequacy standard. The Adjusted Yield is determined in accordance with the capital adequacy standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. The admissible value is the net market value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Capital Adequacy Adjusted Yield Policy Liability Reinsurance Amount Report the value of admissible receivables with resilience requirement at the adjusted yield, as per the capital adequacy standard. The Adjusted Yield is determined in accordance with the capital adequacy standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible receivables is the value of Total Receivables as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Adjusted Yield Receivables Amount Report the value of total admissible assets with resilience requirement at the adjusted yield, as per the capital adequacy standard. The Adjusted Yield is determined in accordance with the capital adequacy standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Total admissible assets is the value of total assets as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Adjusted Yield Total Amount Report the value of admissible assets for which there is no resilience reserve requirement, as per the capital adequacy standard. Mismatching of asset and liability exposures necessitates the provision of a reserve for adverse movements in the investment markets to the extent they will not be matched by a corresponding movement in the liabilities. Where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them, the Resilience Reserve in respect of those liabilities can be zero. It is not necessary to hold resilience reserves for that part of an asset which is inadmissible nor the free assets (in excess of the Capital Adequacy or capital adequacy Requirement) of the fund. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Admissible Assets No Resilience Requirement Amount Report the admissible value of Cash and Liquid Assets with a resilience requirement, as per the capital adequacy standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value of Cash and Liquid Assets is the value of Cash and Liquid Assets as determined in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Admissible Assets Resilience Requirement Cash Amount Report the admissible value of tax assets with a resilience requirement, as per the capital adequacy standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value of tax assets is the value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are those tax assets dependent on the ongoing conduct of business, for example tax losses that require future taxable income in order to be realised. Financial Risk Capital Adequacy Admissible Assets Resilience Requirement Deferred Tax Amount Report the admissible value of equity investment securities with a resilience requirement, as per the capital adequacy standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value of equity investment securities is the net market value of all equity investment securities consistent with the classification and measurement basis used for Investment Securities in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Capital Adequacy Admissible Assets Resilience Requirement Equities Amount Report the admissible value of indexed interest bearing securities with a resilience requirement, as per the capital adequacy standard. Indexed securities pay an income stream that is dependent upon an external factor. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value of interest bearing securities is the net market value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Capital Adequacy Admissible Assets Resilience Requirement Indexed IBS Amount Report the admissible value of other investment assets with a resilience requirement, as per the capital adequacy standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value of other investment assets is the net market value of total assets acquired with the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Capital Adequacy Admissible Assets Resilience Requirement Investment Other Amount Report the admissible value of loans with a resilience requirement, as per the capital adequacy standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value of loans is the net market value of Loans and Advances receivable as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Capital Adequacy Admissible Assets Resilience Requirement Loans Amount Report the admissible value of non indexed interest bearing securities with a resilience requirement, as per the capital adequacy standard. Non-indexed securities pay an income stream that is not dependent upon any external factor. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value of interest bearing securities is the net market value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Capital Adequacy Admissible Assets Resilience Requirement Non Indexed IBS Amount Report the admissible value of other non investment assets with a resilience requirement, as per the capital adequacy standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value of other non investment assets is the net market value of the total assets acquired without the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Capital Adequacy Admissible Assets Resilience Requirement Non Investment Other Amount Report the admissible value of assets where the actuary has considered that non-standard resilience factors are appropriate, as per the capital adequacy standard. This should only be used in rare cases. It is intended to cover situations where assets are disaggregated into (1) an identifiable sub-asset and (2) a residual that does not fit into any of the asset sectors specified by Life Insurance Prudential Standards for resilience purposes, or where a non-standard resilience risk has been modelled in accordance with Life Insurance Prudential Standards. The admissible value is the net market value of all assets where the actuary has considered that non-standard resilience factors are appropriate, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Capital Adequacy Admissible Assets Resilience Requirement Non Standard Resillience Factors Amount Report the admissible value of Gross Policy Liabilities ceded under reinsurance with a resilience requirement, as per the capital adequacy standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value is the net market value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Capital Adequacy Admissible Assets Resilience Requirement Policy Liability Reinsurance Amount Report the admissible value of property investments with a resilience requirement, as per the capital adequacy standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value of property investments is the net market value of the entity's holdings of property investments as determined in accordance with the relevant accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. This includes investments in property by way of units in property trusts or other indirect investment methods as well as investments in real property (land and buildings). The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Capital Adequacy Admissible Assets Resilience Requirement Property Amount Report the admissible value of receivables with a resilience requirement, as per the capital adequacy standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value of receivables is the net market value of receivables as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Capital Adequacy Admissible Assets Resilience Requirement Receivables Amount Report the admissible value of total assets with a resilience requirement, as per the capital adequacy standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value of total assets is the net market value of total assets as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Capital Adequacy Admissible Assets Resilience Requirement Total Amount Report the value of total assets determined in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Admissible Assets Total Amount This is a balancing item within the list in which it is being used. Balance of Resilience Reserve (RRB) is expected to be calculated as: RRB = RR - RRCR Where: RR = Resilience Reserve = L' x [A / A"] - L; RRCR = (L' / A") x (DELTA ACRY + DELTA ACRD) A = Assets prior to prescribed change; L = Liabilities prior to prescribed change. L' = Liabilities adjusted for the prescribed yield change in the discount rate used in their valuation, in accordance with the capital adequacy standard. A" = Adjusted value of admissible assets (see below); DELTA ACRY = Credit Risk Yield Adjustment - an addition to the resilience reserves (see below) made in accordance with the capital adequacy standards; and DELTA ACRD = Credit Risk Default Adjustment - an addition to the resilience reserves (see below) calculated using the prescribed Credit Risk Default factors as set out in the capital adequacy standards. Adjusted value of admissible assets is the value of total admissible assets with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the capital adequacy standards. Total admissible assets is the value of total assets as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy capital requirement standards. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. Financial Risk Capital Adequacy Balancing Item Amount Report the "Basic" capital adequacy amount, calculated as the total of: 1) Liabilities prior to prescribed change 2) Inadmissible Assets; and 3) Capital Adequacy Resilience Reserve, including any adjustment recognising the potential release of resilience reserves from other statutory funds in accordance with the capital adequacy standard. where: Liabilities prior to prescribed change are the total liabilities as determined in accordance with the capital adequacy prudential standard, prior to any prescribed changes to assumptions in that standard used to calculate them. Inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. The Capital Adequacy Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. Financial Risk Capital Adequacy Basic Amount Report the value of borrowings, plus overdrafts determined under stress test scenarios in accordance with the Capital Adequacy prudential standards. This method differs from the Australian Accounting Standards. Borrowings are amounts of money on loan from financial institutions or other creditors with the promise or understanding that it will be repaid. Financial Risk Capital Adequacy Borrowings Amount Report the effective borrowings, adjusted for the prescribed yield change in the discount rate used in their valuation, in accordance with the capital adequacy prudential standards. The valuation of effective borrowings includes overdrafts and is determined under stress test scenarios in accordance with the capital adequacy prudential standards. This method differs from the Australian Accounting Standards. Borrowings are amounts of money on loan from financial institutions or other creditors with the promise or understanding that it will be repaid. Financial Risk Capital Adequacy Borrowings Adjusted Amount Report the capital adequacy coverage ratio, calculated as Eligible Capital divided by Required Capital. Eligible Capital is: the Net Assets of the reporting party as determined in accordance with accounting standards, adjusted for: 1) Policy Owner Retained Profits as determined in accordance with accounting standards; 2) Eligible Amount of Approved Subordinated Debt as determined in accordance with the approval letter received from the relevant regulatory authority; 3) Net market value, or fair value, of borrowings classified as seed capital (see below); and 4) MTV Adjustment. Where: 3) Seed capital is the preliminary contribution of funding toward the financing of a new business. Commonly this is in the form of a loan, usually provided by a related entity. Borrowings are amounts of money on loan from financial institutions or other creditors with the promise or understanding that it will be repaid. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. 4) The MTV Adjustment is the value of the Net Policy Liabilities (net of reinsurance) less the Minimum Termination Value (MTV) net of reinsurance excluding the amount of any investment linked risk margin. Net Policy Liabilities are valued in accordance with prudential standards LPS 1.04, Valuation of Policy Liabilities, offset by the value of policy liabilities ceded under reinsurance. This amount includes liabilities for deferred fee revenue and deferred acquisition costs. For participating benefits, it includes bonuses in respect of the relevant period. This method of disclosure differs from the Australian Accounting Standards. The investment linked (IL) risk margin reflects the additional risks that may be borne by the reporting party in conducting investment-linked business. The minimum termination value (MTV) is determined by the prudential standards as the amount that a life insurer is obliged to pay to policyholders if they decided to voluntarily terminate their policies at the relevant date. The obligation might be contractual, statutory or a result of past practice. Calculated as the greater of: a) the lowest Termination Value that the reporting party is obliged to pay; and b) the amount calculated in accordance with the Surrender Value Standard. Required Capital is: the amount of required capital determined in accordance with the capital adequacy standard, being the difference between the net capital adequacy requirement and the adjusted liabilities. The net capital adequacy requirement is the Total Capital Adequacy Requirement less Gross Policy Liabilities ceded under reinsurance. Total Capital Adequacy Requirement is the amount required under the capital adequacy standard to ensure, as far as practicable, that, at any time, the financial position of each business unit of a reporting party is such that the reporting party will be able, out of the assets of the unit, to meet all policy and other liabilities referable to the unit at that time as they become due. Gross Policy Liabilities ceded under reinsurance are determined in accordance with the accounting standards. The adjusted liabilities are the total of the Minimum Termination Value (net of reinsurance and excluding the Investment Linked [IL] risk margin) and "Other Liabilities" (the total liabilities as determined in accordance with the relevant accounting standards other than Policy Liabilities, Approved Eligible Subordinated Debt and Seed Capital). Financial Risk Capital Adequacy Coverage Ratio Percent Report the value of the Credit Risk Default Adjustment in relation to admissible assets with non-standard resilience factors, as per the capital adequacy standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible assets with non-standard resilience factors are those assets where the actuary has considered that non-standard resilience factors are appropriate. This should only be used in rare cases. It is intended to cover situations where assets are disaggregated into (1) an identifiable sub-asset and (2) a residual that does not fit into any of the asset sectors specified by Life Insurance Prudential Standards for resilience purposes, or where a non-standard resilience risk has been modelled in accordance with Life Insurance Prudential Standards. Financial Risk Capital Adequacy Credit Risk Default Adjustment Assets Non Standard Resillience Factors Amount Report the value of the Credit Risk Default Adjustment in relation to admissible cash assets with resilience requirement, as per the capital adequacy standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible cash assets is the value of Cash and Liquid Assets as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Credit Risk Default Adjustment Cash Amount Report the value of the Credit Risk Default Adjustment in relation to the admissible value of tax assets with a resilience requirement, as per the capital adequacy standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. The admissible value of tax assets is the value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are those tax assets dependent on the ongoing conduct of business, for example tax losses that require future taxable income in order to be realised. Financial Risk Capital Adequacy Credit Risk Default Adjustment DTA Amount Report the value of the Credit Risk Default Adjustment in relation to admissible equity investment securities with resilience requirement, as per the capital adequacy standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible equity investment securities is the value of all equity investment securities consistent with the classification and measurement basis used for Investment Securities in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Credit Risk Default Adjustment Equities Amount Report the value of the Credit Risk Default Adjustment in relation to admissible indexed debt securities with resilience requirement, as per the capital adequacy standard. Indexed securities pay an income stream that is dependent upon an external factor. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible debt securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Credit Risk Default Adjustment Indexed IBS Amount Report the value of the Credit Risk Default Adjustment in relation to admissible Investment Property with resilience requirement, as per the capital adequacy standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible Investment Property is the net market value of the entity's holdings of property investments as determined in accordance with the relevant accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. This includes investments in property by way of units in property trusts or other indirect investment methods as well as investments in real property (land and buildings). The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Credit Risk Default Adjustment Investment Property Amount Report the value of the Credit Risk Default Adjustment in relation to admissible loan assets with resilience requirement, as per the capital adequacy standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible loan assets is the value of total Loans and Advances as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Credit Risk Default Adjustment Loans Amount Report the value of the Credit Risk Default Adjustment in relation to admissible non indexed debt securities with resilience requirement, as per the capital adequacy standard. Non-indexed securities pay an income stream that is not dependent upon any external factor. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible debt securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Credit Risk Default Adjustment Non Indexed IBS Amount Report the value of the Credit Risk Default Adjustment in relation to admissible other investment assets with resilience requirement, as per the capital adequacy standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible other investment assets is the value of the total assets acquired with the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Credit Risk Default Adjustment Other Investment Assets Amount Report the value of the Credit Risk Default Adjustment in relation to admissible other non-investment assets with resilience requirement, as per the capital adequacy standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible other non-investment assets is the value of the total assets acquired without the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value.. Financial Risk Capital Adequacy Credit Risk Default Adjustment Other Non Investment Assets Amount Report the value of the Credit Risk Default Adjustment in relation to the admissible value of Gross Policy Liabilities ceded under reinsurance with a resilience requirement, as per the capital adequacy standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. The admissible value is the net market value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Capital Adequacy Credit Risk Default Adjustment Policy Liability Reinsurance Amount Report the value of the Credit Risk Default Adjustment in relation to admissible receivables with resilience requirement, as per the capital adequacy standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible receivables is the value of Total Receivables as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Credit Risk Default Adjustment Receivables Amount Report the value of the Credit Risk Default Adjustment in relation to total admissible assets with resilience requirement, as per the capital adequacy standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Total admissible assets is the value of total assets as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Credit Risk Default Adjustment Total Amount Report the value of the Credit Risk Yield Adjustment in relation to admissible cash assets with resilience requirement, as per the capital adequacy standard. The Credit Risk Yield Adjustment is an addition to the resilience reserves made in accordance with the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible cash assets is the value of Cash and Liquid Assets as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Credit Risk Yield Adjustment Cash Amount Report the value of the Credit Risk Yield Adjustment in relation to admissible indexed interest bearing securities with resilience requirement, as per the capital adequacy standard. Indexed securities pay an income stream that is dependent upon an external factor. The Credit Risk Yield Adjustment is an addition to the resilience reserves made in accordance with the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible interest bearing securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Credit Risk Yield Adjustment Indexed IBS Amount Report the value of the Credit Risk Yield Adjustment in relation to admissible loan assets with resilience requirement, as per the capital adequacy standard. The Credit Risk Yield Adjustment is an addition to the resilience reserves made in accordance with the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible loan assets is the value of total Loans and Advances as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Credit Risk Yield Adjustment Loans Amount Report the value of the Credit Risk Yield Adjustment in relation to admissible non indexed interest bearing securities with resilience requirement, as per the capital adequacy standard. Non-indexed securities pay an income stream that is not dependent upon any external factor. The Credit Risk Yield Adjustment is an addition to the resilience reserves made in accordance with the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible interest bearing securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Credit Risk Yield Adjustment Non Indexed IBS Amount Report the value of the Credit Risk Yield Adjustment in relation to admissible assets with non-standard resilience factors, as per the capital adequacy standard. The Credit Risk Yield Adjustment is an addition to the resilience reserves made in accordance with the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible assets with non-standard resilience factors are those assets where the actuary has considered that non-standard resilience factors are appropriate. This should only be used in rare cases. It is intended to cover situations where assets are disaggregated into (1) an identifiable sub-asset and (2) a residual that does not fit into any of the asset sectors specified by Life Insurance Prudential Standards for resilience purposes, or where a non-standard resilience risk has been modelled in accordance with Life Insurance Prudential Standards. Financial Risk Capital Adequacy Credit Risk Yield Adjustment Non Standard Resilience Factors Amount Report the value of the Credit Risk Yield Adjustment in relation to total admissible assets with resilience requirement, as per the capital adequacy standard. The Credit Risk Yield Adjustment is an addition to the resilience reserves made in accordance with the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Total admissible assets is the value of total assets as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Credit Risk Yield Adjustment Total Amount Report the Current Termination Value of insurance policies as at the relevant date, gross of reinsurance, as calculated by the capital adequacy standard. The Current Termination Value of a policy is either: a) the amount that would be paid on the basis used in practice from time to time in the event of voluntary termination; or b) where no amount would be paid, the discounted present value of the unexpired risks, future payments and/or contractual premium refunds. Financial Risk Capital Adequacy Current Termination Value Gross Amount Report the Current Termination Value (CTV) of insurance policies as at the relevant date, as calculated by the relevant standard, net of reinsurance. The Current Termination Value of a policy is either: a) the amount that would be paid on the basis used in practice from time to time in the event of voluntary termination; or b) where no amount would be paid, the discounted present value of the unexpired risks, future payments and/or contractual premium refunds. Financial Risk Capital Adequacy Current Termination Value Net Amount Report the Current Termination Value (CTV) of insurance policies as at the relevant date, as calculated by the relevant standard, ceded under reinsurance. The Current Termination Value of a policy is either: a) the amount that would be paid on the basis used in practice from time to time in the event of voluntary termination; or b) where no amount would be paid, the discounted present value of the unexpired risks, future payments and/or contractual premium refunds. Financial Risk Capital Adequacy Current Termination Value Reinsurance Amount Report the amount by which the Current Termination Value of insurance policies as at the relevant date have been adjusted to reflect effective risk mitigation activities. Risk mitigation difference is the difference in the value of risk mitigation arrangements as per the capital adequacy standard (reinsurance and other similar risk mitigating arrangements and contracts, that while not legally reinsurance, have similar effects) and the value as reflected in the financial statements. The Current Termination Value of a policy is either: a) the amount that would be paid on the basis used in practice from time to time in the event of voluntary termination; or b) where no amount would be paid, the discounted present value of the unexpired risks, future payments and/or contractual premium refunds. Financial Risk Capital Adequacy Effective Risk Mitigation Difference Current Termination Value Gross Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible assets with non-standard resilience factors, as per the capital adequacy standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible assets with non-standard resilience factors are those assets where the actuary has considered that non-standard resilience factors are appropriate. This should only be used in rare cases. It is intended to cover situations where assets are disaggregated into (1) an identifiable sub-asset and (2) a residual that does not fit into any of the asset sectors specified by Life Insurance Prudential Standards for resilience purposes, or where a non-standard resilience risk has been modelled in accordance with Life Insurance Prudential Standards. Financial Risk Capital Adequacy FX Adjustment Assets Non Standard Resillience Factors Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible cash assets with resilience requirement, as per the capital adequacy standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible cash assets is the value of Cash and Liquid Assets as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy FX Adjustment Cash Amount Report the value of the Adverse Exchange Movement Adjustment in relation to the admissible value of tax assets with a resilience requirement, as per the capital adequacy standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. The admissible value of tax assets is the value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are those tax assets dependent on the ongoing conduct of business, for example tax losses that require future taxable income in order to be realised. Financial Risk Capital Adequacy FX Adjustment DTA Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible equity investment securities with resilience requirement, as per the capital adequacy standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible equity investment securities is the value of all equity investment securities consistent with the classification and measurement basis used for Investment Securities in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy FX Adjustment Equities Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible indexed debt securities with resilience requirement, as per the capital adequacy standard. Indexed securities pay an income stream that is dependent upon an external factor. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible debt securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy FX Adjustment Indexed IBS Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible Investment Property with resilience requirement, as per the capital adequacy standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible Investment Property is the net market value of the entity's holdings of property investments as determined in accordance with the relevant accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. This includes investments in property by way of units in property trusts or other indirect investment methods as well as investments in real property (land and buildings). The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy FX Adjustment Investment Property Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible loan assets with resilience requirement, as per the capital adequacy standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible loan assets is the value of total Loans and Advances as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy FX Adjustment Loans Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible non indexed debt securities with resilience requirement, as per the capital adequacy standard. Non-indexed securities pay an income stream that is not dependent upon any external factor. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible debt securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy FX Adjustment Non Indexed IBS Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible other investment assets with resilience requirement, as per the capital adequacy standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible other investment assets is the value of the total assets acquired with the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy FX Adjustment Other Investment Assets Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible other non-investment assets with resilience requirement, as per the capital adequacy standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible other non-investment assets is the value of the total assets acquired without the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy FX Adjustment Other Non Investment Assets Amount Report the value of the Adverse Exchange Movement Adjustment in relation to the admissible value of Gross Policy Liabilities ceded under reinsurance with a resilience requirement, as per the capital adequacy standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. The admissible value is the net market value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Capital Adequacy FX Adjustment Policy Liability Reinsurance Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible receivables with resilience requirement, as per the capital adequacy standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible receivables is the value of Total Receivables as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy FX Adjustment Receivables Amount Report the value of the Adverse Exchange Movement Adjustment in relation to total admissible assets with resilience requirement, as per the capital adequacy standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Total admissible assets is the value of total assets as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy FX Adjustment Total Amount Report the greater of the capital adequacy requirement as determined in accordance with the capital adequacy standard and the "Basic" capital adequacy amount. The capital adequacy requirement is the amount required under the capital adequacy standard to ensure, as far as practicable, that, at any time, the financial position of each capital adequacy unit of a reporting party is such that the reporting party will be able, out of the assets of the unit, to meet all policy and other liabilities referable to the unit at that time as they become due. The "Basic" capital adequacy amount is calculated as the total of: 1) Liabilities prior to prescribed change 2) Inadmissible Assets; and 3) Capital Adequacy Resilience Reserve including any adjustment recognising the potential release of resilience reserves from other statutory funds in accordance with the relevant capital requirements standard. where: Liabilities prior to prescribed change are the total liabilities as determined in accordance with the capital adequacy prudential standard, prior to any prescribed changes to assumptions in that standard used to calculate them. Inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. The Capital Adequacy Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. Financial Risk Capital Adequacy Greater Basic Solvency Requirement Amount Report the Capital Adequacy Liabilities (as determined in accordance with the assumptions of the Capital Adequacy standard), calculated as: a) the aggregate of the greater of the Policy Liability value or the Current Termination Value (CTV) of each related product group (RPG), gross of reinsurance; adjusted for b) the effective amount of risk mitigation difference to be included as an offset or addition to the value of the greater of policy liability and current termination value. The Current Termination Value of a policy is either: a) the amount that would be paid on the basis used in practice from time to time in the event of voluntary termination; or b) where no amount would be paid, the discounted present value of the unexpired risks, future payments and/or contractual premium refunds. Risk mitigation difference is the difference in the value of risk mitigation arrangements as per prudential standards and the value as reflected in the financial statements. Financial Risk Capital Adequacy Greater Policy Liability CTV Adjusted Amount Report the aggregate of the greater of the Policy Liability value (calculated using assumptions as per the Capital Adequacy standard) or the Current Termination Value (CTV) of each related product group (RPG), gross of reinsurance. The Current Termination Value of a policy is either: a) the amount that would be paid on the basis used in practice from time to time in the event of voluntary termination; or b) where no amount would be paid, the discounted present value of the unexpired risks, future payments and/or contractual premium refunds. Financial Risk Capital Adequacy Greater Policy Liability CTV Gross Amount Report the aggregate of the greater of the Policy Liability value (calculated using assumptions as per the Capital Adequacy standard) or the Current Termination Value (CTV) of each related product group (RPG), net of reinsurance. The Current Termination Value of a policy is either: a) the amount that would be paid on the basis used in practice from time to time in the event of voluntary termination; or b) where no amount would be paid, the discounted present value of the unexpired risks, future payments and/or contractual premium refunds. Financial Risk Capital Adequacy Greater Policy Liability CTV Net Amount Report the aggregate of the greater of the Policy Liability value (calculated using assumptions as per the Capital Adequacy standard) or the Current Termination Value (CTV) of each related product group (RPG), ceded under reinsurance. The Current Termination Value of a policy is either: a) the amount that would be paid on the basis used in practice from time to time in the event of voluntary termination; or b) where no amount would be paid, the discounted present value of the unexpired risks, future payments and/or contractual premium refunds. Financial Risk Capital Adequacy Greater Policy Liability CTV Reinsurance Amount Report the value of any intangible assets held that are related to the business of the reporting party itself and are not independently realisable, for example deferred acquisition costs assets, in accordance with the assumptions required under the capital adequacy standard. Financial Risk Capital Adequacy Inadmissible Assets Intangibles Value Amount Report the net difference between the value disclosed in the financial statements and the net realisable market value of all assets and financial liabilities (other than policy liabilities) of the reporting entity, in accordance with the assumptions required under the capital adequacy standard. Financial Risk Capital Adequacy Inadmissible Assets NMV Alignment Amount Report the inadmissible portion of the value of reinsurance assets, as determined in accordance with the capital adequacy standard, i.e. those with Associated and Subsidiary Financial Services Entities, and/or concentrated in a single reinsurer. In applying the asset concentration limits of the Standard: a) All exposures to a reinsurer or reinsurance group are to be considered a single counterparty exposure (within the practical context of the application of the limits concerned); and b) Where arrangements with a reinsurer involve both liability and asset components, these may be taken as a single net exposure to the extent they are subject to a legally enforceable right of offset. Financial Risk Capital Adequacy Inadmissible Assets reinsurance Value Amount Report the amount of the asset that is inadmissible for capital adequacy purposes. These are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Assets used in the conduct of business is determined as the amount by which the stated value of the asset in the financial statements exceeds the value the asset would have in a run-off or transfer situation. Concentrated asset exposures are the amounts by the which the value of any single asset (aggregating, where necessary, individual assets that are exposed to common risks, such as strata titles in the same property) or single credit exposure (with a particular obligor or related party) exceeds the limits as per prudential standards, or in the opinion of the Actuary creates too little diversification, is too illiquid or has too great an exposure to obligors of low credit standing. Financial Risk Capital Adequacy Inadmissible Assets Total Amount Report the total value of all assets wholly or partly subject to the inadmissibility requirements of the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Inadmissible Assets Total Value Amount Report the Capital Adequacy Liabilities, adjusted for the prescribed yield change in the discount rate used in their valuation, in accordance with the capital adequacy standard. The Capital Adequacy Liabilities are calculated as the greater of the Policy Liability value (as determined in accordance with the assumptions of the Capital Adequacy standard) or the Current Termination Value (CTV). This value is: a) the aggregate of the greater of the Policy Liability value or the Current Termination Value (CTV) of each related product group (RPG), gross of reinsurance; adjusted for b) the effective amount of risk mitigation difference to be included as an offset or addition to the value of the greater of policy liability and current termination value. The Current Termination Value of a policy is either: a) the amount that would be paid on the basis used in practice from time to time in the event of voluntary termination; or b) where no amount would be paid, the discounted present value of the unexpired risks, future payments and/or contractual premium refunds. Risk mitigation difference is the difference in the value of risk mitigation arrangements as per prudential standards and the value as reflected in the financial statements. Financial Risk Capital Adequacy Liabilities Basic Adjusted Amount This is the balancing item in the list in which it is being used. Report the total liabilities as determined in accordance with the capital adequacy prudential standard, other than: 1) tax liabilities (current and deferred); 2) effective borrowings; and 3) Capital Adequacy Liabilities, calculated as the greater of the Policy Liability value (as determined in accordance with the assumptions of the Capital Adequacy standard) or the Current Termination Value (CTV). This value is: a) the aggregate of the greater of the Policy Liability value or the Current Termination Value (CTV) of each related product group (RPG), gross of reinsurance; adjusted for b) the effective amount of risk mitigation difference to be included as an offset or addition to the value of the greater of policy liability and current termination value. Financial Risk Capital Adequacy Liabilities Other Amount This is the balancing item in the list in which it is being used. Report the total liabilities, adjusted for the prescribed yield change in the discount rate used in their valuation, as determined in accordance with the capital adequacy prudential standard, other than: 1) tax liabilities (current and deferred); 2) effective borrowings; and 3) Capital Adequacy Liabilities, calculated as the greater of the Policy Liability value (as determined in accordance with the assumptions of the Capital Adequacy standard) or the Current Termination Value (CTV). This value is: a) the aggregate of the greater of the Policy Liability value or the Current Termination Value (CTV) of each related product group (RPG), gross of reinsurance; adjusted for b) the effective amount of risk mitigation difference to be included as an offset or addition to the value of the greater of policy liability and current termination value. Financial Risk Capital Adequacy Liabilities Other Adjusted Amount Report the total tax liabilities (current and deferred), adjusted for the prescribed yield change in the discount rate used in their valuation, in accordance with the capital adequacy standard. Financial Risk Capital Adequacy Liabilities Tax Adjusted Amount Report the total liabilities as determined in accordance with the capital adequacy prudential standard. Financial Risk Capital Adequacy Liabilities Total Amount Report the total liabilities, adjusted for the prescribed yield change in the discount rate used in their valuation, in accordance with the capital adequacy standard. Financial Risk Capital Adequacy Liabilities Total Adjusted Amount Report the total liabilities as determined in accordance with the relevant accounting standards other than the capital adequacy liability as determined in accordance with prudential standards. Financial Risk Capital Adequacy Liabilities Total Excluding Policy Liabilities Amount Report the total liabilities as determined in accordance with the relevant accounting standards other than Capital Adequacy Liability, Approved Eligible Subordinated Debt and Seed Capital. Eligible approved subordinated debt, is determined in accordance with the approval letter received from the relevant regulatory authority. Seed capital is the preliminary contribution of funding toward the financing of a new business. Commonly this is in the form of a loan, usually provided by a related entity. Financial Risk Capital Adequacy Liabilities Total Excluding Policy Liabilities Subordinated Debt Seed Capital Amount Report the Capital Adequacy Margin applied to best estimate assumptions as a percentage per annum in relation to the allowance for annuitant mortality improvements for annuitants aged greater than or equal to the current average life expectancy, as per the capital adequacy standard. The margin must be applied so as to produce a more conservative estimate of the liability than best estimate. Annuitant refers to a person who pays a single premium, and in return, receives regular payments for the remainder of the annuitants life, or for a defined term. An annuity may be payable to more than one person e.g. it may provide for reversionary payments, at a reduced rate, to the surviving souse of the original annuitant. Financial Risk Capital Adequacy Margin Allowance For Annuitant Mortality Improvement Per Annum Greater Than Or Equal To Life Expectancy Percent Report the Capital Adequacy Margin applied to best estimate assumptions as a percentage per annum in relation to the allowance for annuitant mortality improvements for annuitants aged lower than the current average life expectancy, as per the capital adequacy standard. The margin must be applied so as to produce a more conservative estimate of the liability than best estimate. Annuitant refers to a person who pays a single premium, and in return, receives regular payments for the remainder of the annuitants life, or for a defined term. An annuity may be payable to more than one person e.g. it may provide for reversionary payments, at a reduced rate, to the surviving souse of the original annuitant. Financial Risk Capital Adequacy Margin Allowance For Annuitant Mortality Improvement Per Annum Less Than Life Expectancy Percent Report the Capital Adequacy Margin applied to the base best estimate assumptions for Annuitants, as per the capital adequacy standard. The margin must be applied so as to produce a more conservative estimate of the liability than best estimate. Annuitant refers to a person who pays a single premium, and in return, receives regular payments for the remainder of the annuitants life, or for a defined term. An annuity may be payable to more than one person e.g. it may provide for reversionary payments, at a reduced rate, to the surviving souse of the original annuitant. Financial Risk Capital Adequacy Margin Annuitants Base Percent Report the Capital Adequacy Margin applied to the best estimate assumptions of disability income (active lives), as per the capital adequacy standard. The margin must be applied so as to produce a more conservative estimate of the liability than best estimate. Financial Risk Capital Adequacy Margin Disability Income Active Lives Percent Report the Capital Adequacy Margin applied to the best estimate assumptions of disabled lives (claims in payment), as per the capital adequacy standard. The margin must be applied so as to produce a more conservative estimate of the liability than best estimate. Financial Risk Capital Adequacy Margin Disabled Lives Claims In Payment Percent Report the Capital Adequacy Margin applied to the best estimate assumptions for Insured Lives, as per the capital adequacy standard. The margin must be applied so as to produce a more conservative estimate of the liability than best estimate. Financial Risk Capital Adequacy Margin Insured Lives Percent Report the Capital Adequacy Margin applied to the best estimate assumptions of investment-linked risks as per the capital adequacy standard. The margin must be applied so as to produce a more conservative estimate of the liability than best estimate. Financial Risk Capital Adequacy Margin Investment Linked Risks Percent Report the Capital Adequacy Margin applied to the best estimate assumptions of options, as per the capital adequacy standard. The margin must be applied so as to produce a more conservative estimate of the liability than best estimate. Financial Risk Capital Adequacy Margin Options Percent Report the Capital Adequacy Margin applied to the best estimate assumptions of other insured events, as per the capital adequacy standard. The margin must be applied so as to produce a more conservative estimate of the liability than best estimate. Financial Risk Capital Adequacy Margin Other Insured Events Percent Report the Capital Adequacy Margin applied to the best estimate assumptions for Servicing Expenses, as per the capital adequacy standard. The margin must be applied so as to produce a more conservative estimate of the liability than best estimate. Servicing expenses are all expenses that relate to the cost of administering policies subsequent to the sale and recording of policies and administering the general operations of the life company (maintenance expenses) and managing the investment portfolio (investment management expenses). Financial Risk Capital Adequacy Margin Servicing Expenses Percent Report the Capital Adequacy Margin applied to the best estimate assumptions of Take-up Rate on Education Bond Business, as per the capital adequacy standard. The margin must be applied so as to produce a more conservative estimate of the liability than best estimate. Financial Risk Capital Adequacy Margin Take Up Rate On Education Bond Business Percent Report the Capital Adequacy Margin applied to the best estimate assumptions of total and permanent disability, as per the capital adequacy standard. The margin must be applied so as to produce a more conservative estimate of the liability than best estimate. Financial Risk Capital Adequacy Margin Total Permanent Disability Percent Report the Capital Adequacy Margin applied to the best estimate assumptions of trauma, as per the capital adequacy standard. The margin must be applied so as to produce a more conservative estimate of the liability than best estimate. Financial Risk Capital Adequacy Margin Trauma Percent Report the Capital Adequacy Margin applied to the best estimate assumptions of voluntary discontinuance, as per the capital adequacy standard. The margin must be applied so as to produce a more conservative estimate of the liability than best estimate. Financial Risk Capital Adequacy Margin Voluntary Discontinuance Percent Report the value of New Business Reserve determined as: a) the additional amount required to ensure that the capital adequacy Requirement of the statutory fund will continue to be met over the next three years, allowing for capital and profits emerging over that period from the existing business of the fund; less b) the New Business Capital; less c) the Offset Statutory Capital. New business capital is the aggregate of: a) existing, binding arrangements for the external raising of capital specific to the financing of new business within the statutory fund; and b) capital (existing or emerging) in any other statutory fund, to the extent it is (or would be) available to be transferred to the shareholders' fund at that time. Offset Statutory Capital is the amount of Statutory Capital which is appropriately utilised in meeting the new business reserve requirements of the statutory fund. Financial Risk Capital Adequacy New Business Reserve Amount Report the value of the additional amount required to ensure that the Solvency Requirement of the statutory fund will continue to be met over the next three years, allowing for capital and profits emerging over that period from the existing business of the fund; less New Business Capital. New business capital is the aggregate of: a) existing, binding arrangements for the external raising of capital specific to the financing of new business within the statutory fund; and b) capital (existing or emerging) in any other statutory fund, to the extent it is (or would be) available to be transferred to the shareholders' fund at that time. Financial Risk Capital Adequacy New Business Reserve Before Statutory Capital Reduction Amount Report the Offset Statutory Capital which is the amount of Statutory Capital appropriately utilised in meeting the new business reserve requirements of the statutory fund. Financial Risk Capital Adequacy New Business Reserve Offset Statutory Capital Amount Report the aggregated value of the capital adequacy liability for all related product groups, as calculated by the capital adequacy standard, gross of reinsurance. These are the guaranteed liabilities under life insurance policies on the basis of assumptions which are more conservative (anticipate a more adverse experience) than best estimate and solvency assumptions. Financial Risk Capital Adequacy Policy Liability Gross Aggregate Amount Report the aggregated value of the policy liability for all related product groups, as calculated by the capital adequacy standard, net of reinsurance. These are the guaranteed liabilities under life insurance policies on the basis of assumptions which are more conservative (anticipate a more adverse experience) than best estimate assumptions. Financial Risk Capital Adequacy Policy Liability Net Aggregate Amount Report the aggregated value of the Policy Liability for all related product groups, as calculated by the capital adequacy standard, ceded under reinsurance. These are the guaranteed liabilities under life insurance policies on the basis of assumptions which are more conservative (anticipate a more adverse experience) than best estimate and solvency assumptions. Financial Risk Capital Adequacy Policy Liability Reinsurance Aggregate Amount Report the value of the Prescribed Yield Adjustment in relation to admissible assets with non-standard resilience factors, as per the capital adequacy standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible assets with non-standard resilience factors are those assets where the actuary has considered that non-standard resilience factors are appropriate. This should only be used in rare cases. It is intended to cover situations where assets are disaggregated into (1) an identifiable sub-asset and (2) a residual that does not fit into any of the asset sectors specified by Life Insurance Prudential Standards for resilience purposes, or where a non-standard resilience risk has been modelled in accordance with Life Insurance Prudential Standards. Financial Risk Capital Adequacy Prescribed Yield Adjustment Assets Non Standard Resillience Factors Amount Report the value of the Prescribed Yield Adjustment in relation to admissible cash assets with resilience requirement, as per the capital adequacy standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible cash assets is the value of Cash and Liquid Assets as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Prescribed Yield Adjustment Cash Amount Report the value of the Prescribed Yield Adjustment in relation to the admissible value of tax assets with a resilience requirement, as per the capital adequacy standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. The admissible value of tax assets is the value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are those tax assets dependent on the ongoing conduct of business, for example tax losses that require future taxable income in order to be realised. Financial Risk Capital Adequacy Prescribed Yield Adjustment Deferred Tax Assets Amount Report the value of the Prescribed Yield Adjustment in relation to admissible equity investment securities with resilience requirement, as per the capital adequacy standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible equity investment securities is the value of all equity investment securities consistent with the classification and measurement basis used for Investment Securities in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Prescribed Yield Adjustment Equities Amount Report the value of the Prescribed Yield Adjustment in relation to admissible indexed debt securities with resilience requirement, as per the capital adequacy standard. Indexed securities pay an income stream that is dependent upon an external factor. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible debt securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Prescribed Yield Adjustment Indexed IBS Amount Report the value of the Prescribed Yield Adjustment in relation to admissible Investment Property with resilience requirement, as per the capital adequacy standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible Investment Property is the net market value of the entity's holdings of property investments as determined in accordance with the relevant accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. This includes investments in property by way of units in property trusts or other indirect investment methods as well as investments in real property (land and buildings). The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Prescribed Yield Adjustment Investment Property Amount Report the value of the Prescribed Yield Adjustment in relation to admissible loan assets with resilience requirement, as per the capital adequacy standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible loan assets is the value of total Loans and Advances as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Prescribed Yield Adjustment Loans Amount Report the value of the Prescribed Yield Adjustment in relation to admissible non indexed debt securities with resilience requirement, as per the capital adequacy standard. Non-indexed securities pay an income stream that is not dependent upon any external factor. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible debt securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Prescribed Yield Adjustment Non Indexed IBS Amount Report the value of the Prescribed Yield Adjustment in relation to admissible other investment assets with resilience requirement, as per the capital adequacy standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible other investment assets is the value of the total assets acquired with the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Prescribed Yield Adjustment Other Investment Assets Amount Report the value of the Prescribed Yield Adjustment in relation to admissible other non-investment assets with resilience requirement, as per the capital adequacy standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible other non-investment assets is the value of the total assets acquired without the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Prescribed Yield Adjustment Other Non Investment Assets Amount Report the value of the Prescribed Yield Adjustment in relation to the admissible value of Gross Policy Liabilities ceded under reinsurance with a resilience requirement, as per the capital adequacy standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. The admissible value is the net market value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Capital Adequacy Prescribed Yield Adjustment Policy Liability Reinsurance Amount Report the value of the Prescribed Yield Adjustment in relation to admissible receivables with resilience requirement, as per the capital adequacy standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Admissible receivables is the value of Total Receivables as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Prescribed Yield Adjustment Receivables Amount Report the value of the Prescribed Yield Adjustment in relation to total admissible assets with resilience requirement, as per the capital adequacy standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the capital adequacy standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund, in an ongoing business context. Total admissible assets is the value of total assets as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Capital Adequacy Prescribed Yield Adjustment Total Amount Report the amount of required capital determined in accordance with the capital adequacy standard, being the difference between the net capital adequacy requirement and the adjusted liabilities. The net capital adequacy requirement is the Total Capital Adequacy Requirement less Gross Policy Liabilities ceded under reinsurance. Total capital adequacy Requirement is the amount required under the capital adequacy standard to ensure, as far as practicable, that, at any time, the financial position of each business unit of a reporting party is such that the reporting party will be able, out of the assets of the unit, to meet all policy and other liabilities referable to the unit at that time as they become due. Gross Policy Liabilities ceded under reinsurance are determined in accordance with the accounting standards. The adjusted liabilities are the total of the Minimum Termination Value (net of reinsurance and excluding the Investment Linked [IL] risk margin) and "Other Liabilities" (see below). The minimum termination value (MTV) is determined by the prudential standards as the amount that a life insurer is obliged to pay to policyholders if they decided to voluntarily terminate their policies at the relevant date. The obligation might be contractual, statutory or a result of past practice. Calculated as the greater of: a) the lowest Termination Value that the reporting party is obliged to pay; and b) the amount calculated in accordance with the Surrender Value Standard. The investment linked (IL) risk margin reflects the additional risks that may be borne by the reporting party in conducting investment-linked business. Other Liabilities are the total liabilities as determined in accordance with the relevant accounting standards other than Policy Liabilities, Approved Eligible Subordinated Debt and Seed Capital. Eligible approved subordinated debt, is determined in accordance with the approval letter received from the relevant regulatory authority. Seed capital is the preliminary contribution of funding toward the financing of a new business. Commonly this is in the form of a loan, usually provided by a related entity. Financial Risk Capital Adequacy Required Capital Amount Report the ratio of the capital adequacy reserve to the sum of the termination value (as per the capital adequacy standard) and other liabilities. The Capital Adequacy Reserve Ratio should be calculated as: SR / Absolute(MTV + OL) where: SR = the amount reserved, including the amount of any investment linked risk margin (see below), in accordance with the capital adequacy standard MTV = the minimum termination value (net of reinsurance) excluding the amount of any investment linked risk margin (see below) OL = Other Liabilities - the total liabilities as determined in accordance with the relevant accounting standards other than Policy Liabilities, Borrowings, Approved Eligible Subordinated Debt and Seed Capital. The minimum termination value (MTV) is determined by the prudential standards as the amount that a life insurer is obliged to pay to policyholders if they decided to voluntarily terminate their policies at the relevant date. The obligation might be contractual, statutory or a result of past practice. Calculated as the greater of: a) the lowest Termination Value that the reporting party is obliged to pay; and b) the amount calculated in accordance with the Surrender Value Standard. The investment linked (IL) risk margin reflects the additional risks that may be borne by the reporting party in conducting investment-linked business. Financial Risk Capital Adequacy Reserve Ratio Percent Report the value of any reserves established by the Actuary in relation to additional risks or costs that are not otherwise reflected in the prescribed requirements of the capital adequacy standard, including any transitional adjustment required. Financial Risk Capital Adequacy Resilience Additional Risks Amount Report the value of the adjustment to the capital adequacy resilience reserve recognising the potential release of resilience reserves from other statutory funds in accordance with the capital adequacy standard. The Capital Adequacy Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Financial Risk Capital Adequacy Resilience Adjustment Amount Report the Credit Risk component of Capital Adequacy Resilience Reserve (RRCR), to be calculated as: RRCR = (L' / A") x (DELTA ACRY + DELTA ACRD) Where: L' = Liabilities adjusted for the prescribed yield change in the discount rate used in their valuation, in accordance with the capital adequacy standard. A" = Adjusted value of admissible assets (see below); DELTA ACRY = the value of the Credit Risk Yield Adjustment - an addition to the resilience reserves (see below) made in accordance with the capital adequacy standards; and DELTA ACRD = the value of the Credit Risk Default Adjustment - an addition to the resilience reserves (see below) calculated using the prescribed Credit Risk Default factors as set out in the capital adequacy standards. Adjusted value of admissible assets is the value of total admissible assets with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the capital adequacy standards. Total admissible assets is the value of total assets as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. The Capital Adequacy Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund in an ongoing business context. Financial Risk Capital Adequacy Resilience Credit Risk Component Amount Report the total Capital Adequacy Resilience Reserve (RR) for this reporting party including any adjustment recognising the potential release of resilience reserves from all statutory funds combined under the worst possible scenario in accordance with the capital adequacy standard. Total Resilience Reserve (RR) is calculated as: RR = L' x [A / A"] - L; Where: A = Admissible Assets with a resilience requirement (see below) prior to prescribed change; L = Liabilities prior to prescribed change are the total liabilities as determined in accordance with the capital adequacy prudential standard, prior to any prescribed changes to assumptions in that standard used to calculate them. L' = Liabilities adjusted for the prescribed yield change in the discount rate used in their valuation, in accordance with the capital adequacy standard. A" = Adjusted value of admissible assets (see below); Adjusted value of admissible assets is the value of total admissible assets with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the capital adequacy standards. Total admissible assets is the value of total assets as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. The Capital Adequacy Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. Financial Risk Capital Adequacy Resilience Net Amount Report the total Capital Adequacy Resilience Reserve (RR) for this reporting party, to be calculated as: RR = Sum over all subcategories (L' x [A / A'] - L) Where: A = Admissible Assets with a resilience requirement (see below) prior to prescribed change; L = Liabilities prior to prescribed change are the total liabilities as determined in accordance with the capital adequacy prudential standard, prior to any prescribed changes to assumptions in that standard used to calculate them. L' = Liabilities adjusted for the prescribed yield change in the discount rate used in their valuation, in accordance with the capital adequacy standard. A" = Adjusted value of admissible assets (see below); Adjusted value of admissible assets is the value of total admissible assets with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the capital adequacy standards. Total admissible assets is the value of total assets as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) defined benefit superannuation fund surpluses; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the capital adequacy tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the capital adequacy tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. The Capital Adequacy Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the capital adequacy standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. Financial Risk Capital Adequacy Resilience Total Amount Report the surplus or deficit calculated as the difference between: a) The total assets as determined in accordance with the accounting standards; and b) The total capital requirement as determined in accordance with the capital adequacy standard, being the amount required under the capital adequacy standard to ensure, as far as practicable, that, at any time, the financial position of each relevant unit of a reporting party is such that the reporting party will be able, out of the assets of the unit, to meet all policy and other liabilities referable to the unit at that time as they become due, in an ongoing business context. Financial Risk Capital Adequacy Surplus Or Deficit Amount Report the amount required under the capital adequacy standard to ensure, as far as practicable, that, at any time, the financial position of each relevant unit of a reporting party is such that the reporting party will be able, out of the assets of the unit, to meet all policy and other liabilities referable to the unit at that time as they become due, in an ongoing business context. Financial Risk Capital Adequacy Total Amount Report the value of any reserves established by the Actuary in relation to additional risks or costs that are not otherwise reflected in the prescribed requirements of the management capital standard, including any transitional adjustment required. Financial Risk Management Capital Additional Risks Amount Report the admissible value of assets in the General Fund where the actuary has considered that non-standard resilience factors are appropriate, adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the management capital prudential standard. This should only be used in rare cases. It is intended to cover situations where assets are disaggregated into (1) an identifiable sub-asset and (2) a residual that does not fit into any of the asset sectors specified by Life Insurance Prudential Standards for resilience purposes, or where a non-standard resilience risk has been modelled in accordance with Life Insurance Prudential Standards. The admissible value is the net market value of all assets where the actuary has considered that non-standard resilience factors are appropriate, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Adjusted Admissible Assets Non Standard Resilience Factors Amount Report the admissible value of Cash and Liquid Assets in the General Fund with a resilience requirement, adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the management capital prudential standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of Cash and Liquid Assets is the value of Cash and Liquid Assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Adjusted Admissible Cash Amount Report the admissible value of Tax Assets in the General Fund with a resilience requirement, adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the management capital prudential standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of tax assets is the value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Adjusted Admissible DTA Amount Report the admissible value of Equity assets in the General Fund with a resilience requirement, adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the management capital prudential standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of equity investment securities is the net market value of all equity investment securities consistent with the classification and measurement basis used for Investment Securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Adjusted Admissible Equities Amount Report the admissible value of indexed interest bearing securities in the General Fund with a resilience requirement, adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the management capital prudential standard. Indexed securities pay an income stream that is dependent upon an external factor. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of interest bearing securities is the net market value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Adjusted Admissible Indexed IBS Amount Report the admissible value of Investment Property in the General Fund with a resilience requirement, adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the management capital prudential standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of property investments is the net market value of the entity's General Fund holdings of property investments as determined in accordance with the relevant accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. This includes investments in property by way of units in property trusts or other indirect investment methods as well as investments in real property (land and buildings). The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Adjusted Admissible Investment Property Amount Report the admissible value of Loans in the General Fund with a resilience requirement, adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the management capital prudential standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of Loans is as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Adjusted Admissible Loans Amount Report the admissible value of non indexed interest bearing securities in the General Fund with a resilience requirement, adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the management capital prudential standard. Non-indexed securities pay an income stream that is not dependent upon any external factor. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of interest bearing securities is the net market value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Adjusted Admissible Non Indexed IBS Amount Report the admissible value of other investment assets in the General Fund with a resilience requirement, adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the management capital prudential standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of other investment assets is the net market value of total assets acquired with the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Adjusted Admissible Other Investment Assets Amount Report the admissible value of other non investment assets in the General Fund with a resilience requirement, adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the management capital prudential standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of other non investment assets is the net market value of the total assets acquired without the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Adjusted Admissible Other Non Investment Assets Amount Report the admissible value of receivables in the General Fund with a resilience requirement, adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the management capital prudential standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of receivables is the net market value of receivables as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Adjusted Admissible Receivables Amount Report the admissible value of total assets in the General Fund with a resilience requirement, adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the management capital prudential standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of total assets is as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Adjusted Admissible Total Amount Report the admissible value of assets in the General Fund where the actuary has considered that non-standard resilience factors are appropriate at the adjusted yield, as per the management capital prudential standard. The Adjusted Yield is determined in accordance with the management capital prudential standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. This should only be used in rare cases. It is intended to cover situations where assets are disaggregated into (1) an identifiable sub-asset and (2) a residual that does not fit into any of the asset sectors specified by Life Insurance Prudential Standards for resilience purposes, or where a non-standard resilience risk has been modelled in accordance with Life Insurance Prudential Standards. The admissible value is the net market value of all assets where the actuary has considered that non-standard resilience factors are appropriate, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Adjusted Yield Assets Non Standard Resilience Factors Amount Report the admissible value of Cash and Liquid Assets in the General Fund with a resilience requirement at the adjusted yield, as per the management capital prudential standard. The Adjusted Yield is determined in accordance with the management capital prudential standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of Cash and Liquid Assets is the value of Cash and Liquid Assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Adjusted Yield Cash Amount Report the admissible value of Tax Assets in the General Fund with a resilience requirement at the adjusted yield, as per the management capital prudential standard. The Adjusted Yield is determined in accordance with the management capital prudential standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of tax assets is the value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Adjusted Yield DTA Amount Report the admissible value of Equity assets in the General Fund with a resilience requirement at the adjusted yield, as per the management capital prudential standard. The Adjusted Yield is determined in accordance with the management capital prudential standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of equity investment securities is the net market value of all equity investment securities consistent with the classification and measurement basis used for Investment Securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Adjusted Yield Equities Amount Report the admissible value of indexed interest bearing securities in the General Fund with a resilience requirement at the adjusted yield, as per the management capital prudential standard. The Adjusted Yield is determined in accordance with the management capital prudential standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. Indexed securities pay an income stream that is dependent upon an external factor. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of interest bearing securities is the net market value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Adjusted Yield Indexed IBS Amount Report the admissible value of Investment Property in the General Fund with a resilience requirement at the adjusted yield, as per the management capital prudential standard. The Adjusted Yield is determined in accordance with the management capital prudential standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of property investments is the net market value of the entity's General Fund holdings of property investments as determined in accordance with the relevant accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. This includes investments in property by way of units in property trusts or other indirect investment methods as well as investments in real property (land and buildings). The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Adjusted Yield Investment Property Amount Report the admissible value of Loans in the General Fund with a resilience requirement at the adjusted yield, as per the management capital prudential standard. The Adjusted Yield is determined in accordance with the management capital prudential standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of Loans is as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Adjusted Yield Loans Amount Report the admissible value of non indexed interest bearing securities in the General Fund with a resilience requirement at the adjusted yield, as per the management capital prudential standard. The Adjusted Yield is determined in accordance with the management capital prudential standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. Non-indexed securities pay an income stream that is not dependent upon any external factor. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of interest bearing securities is the net market value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Adjusted Yield Non Indexed IBS Amount Report the admissible value of other investment assets in the General Fund with a resilience requirement at the adjusted yield, as per the management capital prudential standard. The Adjusted Yield is determined in accordance with the management capital prudential standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of other investment assets is the net market value of total assets acquired with the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Adjusted Yield Other Investment Assets Amount Report the admissible value of other non investment assets in the General Fund with a resilience requirement at the adjusted yield, as per the management capital prudential standard. The Adjusted Yield is determined in accordance with the management capital prudential standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of other non investment assets is the net market value of the total assets acquired without the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Adjusted Yield Other Non Investment Assets Amount Report the admissible value of receivables in the General Fund with a resilience requirement at the adjusted yield, as per the management capital prudential standard. The Adjusted Yield is determined in accordance with the management capital prudential standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of receivables is the net market value of receivables as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Adjusted Yield Receivables Amount Report the admissible value of total assets in the General Fund with a resilience requirement at the adjusted yield, as per the management capital prudential standard. The Adjusted Yield is determined in accordance with the management capital prudential standard and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of total assets is as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Adjusted Yield Total Amount Report the value of admissible assets in the General Fund for which there is no resilience reserve requirement, as per the management capital prudential standard. Mismatching of asset and liability exposures necessitates the provision of a reserve for adverse movements in the investment markets to the extent they will not be matched by a corresponding movement in the liabilities. Where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them, the Resilience Reserve in respect of those liabilities can be zero. It is not necessary to hold resilience reserves for that part of an asset which is inadmissible nor the free assets (in excess of the solvency or capital adequacy Requirement) of the fund. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Admissible Assets No Resilience Requirement Amount Report the admissible value of Cash and Liquid Assets in the General Fund with a resilience requirement, as per the management capital prudential standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of Cash and Liquid Assets is the value of Cash and Liquid Assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Admissible Assets Resilience Requirement Cash Amount Report the admissible value of Tax Assets in the General Fund with a resilience requirement, as per the management capital prudential standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of tax assets is the value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Admissible Assets Resilience Requirement Deferred Tax Amount Report the admissible value of Equity assets in the General Fund with a resilience requirement, as per the management capital prudential standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of equity investment securities is the net market value of all equity investment securities consistent with the classification and measurement basis used for Investment Securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Admissible Assets Resilience Requirement Equities Amount Report the admissible value of indexed interest bearing securities in the General Fund with a resilience requirement, as per the management capital prudential standard. Indexed securities pay an income stream that is dependent upon an external factor. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of interest bearing securities is the net market value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Admissible Assets Resilience Requirement Indexed IBS Amount Report the admissible value of other investment assets in the General Fund with a resilience requirement, as per the management capital prudential standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of other investment assets is the net market value of total assets acquired with the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Admissible Assets Resilience Requirement Investment Other Amount Report the admissible value of Loans in the General Fund with a resilience requirement, as per the management capital prudential standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of Loans is as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Admissible Assets Resilience Requirement Loans Amount Report the admissible value of non indexed interest bearing securities in the General Fund with a resilience requirement, as per the management capital prudential standard. Non-indexed securities pay an income stream that is not dependent upon any external factor. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of interest bearing securities is the net market value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Admissible Assets Resilience Requirement Non Indexed IBS Amount Report the admissible value of other non investment assets in the General Fund with a resilience requirement, as per the management capital prudential standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of other non investment assets is the net market value of the total assets acquired without the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Admissible Assets Resilience Requirement Non Investment Other Amount Report the admissible value of assets in the General Fund where the actuary has considered that non-standard resilience factors are appropriate, as per the management capital prudential standard. This should only be used in rare cases. It is intended to cover situations where assets are disaggregated into (1) an identifiable sub-asset and (2) a residual that does not fit into any of the asset sectors specified by Life Insurance Prudential Standards for resilience purposes, or where a non-standard resilience risk has been modelled in accordance with Life Insurance Prudential Standards. The admissible value is the net market value of all assets where the actuary has considered that non-standard resilience factors are appropriate, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Admissible Assets Resilience Requirement Non Standard Resillience Factors Amount Report the admissible value of Investment Property in the General Fund with a resilience requirement, as per the management capital prudential standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of property investments is the net market value of the entity's General Fund holdings of property investments as determined in accordance with the relevant accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. This includes investments in property by way of units in property trusts or other indirect investment methods as well as investments in real property (land and buildings). The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Admissible Assets Resilience Requirement Property Amount Report the admissible value of receivables in the General Fund with a resilience requirement, as per the management capital prudential standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of receivables is the net market value of receivables as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Admissible Assets Resilience Requirement Receivables Amount Report the admissible value of total assets in the General Fund with a resilience requirement, as per the management capital prudential standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, including the assessed liability risks in accordance with the management capital prudential standard. The admissible value of total assets is as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Admissible Assets Resilience Requirement Total Amount Report the value of total assets in the General Fund determined in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the capital adequacy standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Admissible Assets Total Amount Report the value as disclosed in the regulatory financial statements of those assets where either their net tangible asset value or their fair value is less than the value disclosed in the regulatory financial statements. This value does not include the value of those assets otherwise treated as inadmissible assets. Financial Risk Management Capital Assets Disclosed Above Fair Value NTA Amount This is a balancing item within the list in which it is being used. Balance of Resilience Reserve (RRB) is expected to be calculated as: RRB = RR - RRCR Where: RR = Resilience Reserve = L' x [A / A"] - L; RRCR = (L' / A") x (DELTA ACRY + DELTA ACRD) A = Assets prior to prescribed change; L = Liabilities prior to prescribed change. L' = Liabilities adjusted for the prescribed yield change in the discount rate used in their valuation, in accordance with the management capital prudential standard. A" = Adjusted value of admissible assets (see below); DELTA ACRY = Credit Risk Yield Adjustment - an addition to the resilience reserves (see below) made in accordance with the management capital prudential standards; and DELTA ACRD = Credit Risk Default Adjustment - an addition to the resilience reserves (see below) calculated using the prescribed Credit Risk Default factors as set out in the management capital prudential standards. Adjusted value of admissible assets is the value of total admissible assets with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the management capital prudential standards. Total admissible assets is the value of total assets as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the management capital prudential standards. The inadmissible assets are: 1) assets, the value of which is dependent on the ongoing conduct of business; 2) the amount by which holdings in associated financial services entities (as defined in the prudential standards) exceeds their net tangible assets; and 3) concentrated or illiquid asset exposures. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. Financial Risk Management Capital Balancing Item Amount Report the inadmissible amount, not otherwise disclosed on APRA form LRF120.0, as calculated by A-B: Where: A = the asset values as disclosed in the regulatory financial statements, where this exceeds the net tangible asset value or the fair value of those assets; and B = the net tangible asset value or the fair value of those assets Financial Risk Management Capital Balancing Item Inadmissible Assets Amount This is the value of the liability component less the value of effective borrowings and tax liabilities. The Liability Component is determined as the realistic value of liabilities of the General Fund plus, in the case of a friendly society, the reserve in respect of servicing expenses and investment-linked business. Financial Risk Management Capital Balancing Item Liability Component Amount Report the adjusted value of the liability component less the value of effective borrowings and tax liabilities. The Liability Component is determined as the realistic value of liabilities of the General Fund plus, in the case of a friendly society, the reserve in respect of servicing expenses and investment-linked business. The adjustment is for the prescribed yield change in the discount rate used in their valuation, in accordance with the solvency standard. Financial Risk Management Capital Balancing Item Liability Component Adjusted Amount Report the value of the Credit Risk Default Adjustment in relation to the admissible value of assets in the General Fund where the actuary has considered that non-standard resilience factors are appropriate, as per the management capital prudential standard. This should only be used in rare cases. It is intended to cover situations where assets are disaggregated into (1) an identifiable sub-asset and (2) a residual that does not fit into any of the asset sectors specified by Life Insurance Prudential Standards for resilience purposes, or where a non-standard resilience risk has been modelled in accordance with Life Insurance Prudential Standards. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value is the net market value of all assets where the actuary has considered that non-standard resilience factors are appropriate, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Credit Risk Default Adjustment Assets Non Standard Resillience Factors Amount Report the value of the Credit Risk Default Adjustment in relation to admissible Cash and Liquid Assets in the General Fund with a resilience requirement, as per the management capital prudential standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of Cash and Liquid Assets is the value of Cash and Liquid Assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Credit Risk Default Adjustment Cash Amount Report the value of the Credit Risk Default Adjustment in relation to admissible Deferred Tax Assets in the General Fund with a resilience requirement, as per the management capital prudential standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of tax assets is the value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Credit Risk Default Adjustment DTA Amount Report the value of the Credit Risk Default Adjustment in relation to admissible equity investment securities in the General Fund with a resilience requirement, as per the management capital prudential standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of equity investment securities is the net market value of all equity investment securities consistent with the classification and measurement basis used for Investment Securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Credit Risk Default Adjustment Equities Amount Report the value of the Credit Risk Default Adjustment in relation to the admissible value of indexed interest bearing securities in the General Fund with a resilience requirement, as per the management capital prudential standard. Indexed securities pay an income stream that is dependent upon an external factor. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of interest bearing securities is the net market value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Credit Risk Default Adjustment Indexed IBS Amount Report the value of the Credit Risk Default Adjustment in relation to admissible property investments in the General Fund with a resilience requirement, as per the management capital prudential standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of property investments is the net market value of the entity's General Fund holdings of property investments as determined in accordance with the relevant accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. This includes investments in property by way of units in property trusts or other indirect investment methods as well as investments in real property (land and buildings). The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Credit Risk Default Adjustment Investment Property Amount Report the value of the Credit Risk Default Adjustment in relation to the admissible value of Loans in the General Fund with a resilience requirement, as per the management capital prudential standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of Loans is as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Credit Risk Default Adjustment Loans Amount Report the value of the Credit Risk Default Adjustment in relation to the admissible value of non indexed interest bearing securities in the General Fund with a resilience requirement, as per the management capital prudential standard. Non-indexed securities pay an income stream that is not dependent upon any external factor. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of interest bearing securities is the net market value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Credit Risk Default Adjustment Non Indexed IBS Amount Report the value of the Credit Risk Default Adjustment in relation to the admissible value of other investment assets in the General Fund with a resilience requirement, as per the management capital prudential standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of other investment assets is the net market value of total assets acquired with the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Credit Risk Default Adjustment Other Investment Assets Amount Report the value of the Credit Risk Default Adjustment in relation to the admissible value of other non investment assets in the General Fund with a resilience requirement, as per the management capital prudential standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of other non investment assets is the net market value of the total assets acquired without the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Credit Risk Default Adjustment Other Non Investment Assets Amount Report the value of the Credit Risk Default Adjustment in relation to the admissible value of receivables in the General Fund with a resilience requirement, as per the management capital prudential standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of receivables is the net market value of receivables as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Credit Risk Default Adjustment Receivables Amount Report the value of the Credit Risk Default Adjustment in relation to the admissible value of total assets in the General Fund with a resilience requirement, as per the management capital prudential standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context.. The admissible value of total assets is as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Credit Risk Default Adjustment Total Amount Report the value of the Credit Risk Yield Adjustment in relation to admissible Cash and Liquid Assets in the General Fund with a resilience requirement, as per the management capital prudential standard. The Credit Risk Yield Adjustment is an addition to the resilience reserves made in accordance with the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of Cash and Liquid Assets is the value of Cash and Liquid Assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Credit Risk Yield Adjustment Cash Amount Report the value of the Credit Risk Yield Adjustment in relation to the admissible value of indexed interest bearing securities in the General Fund with a resilience requirement, as per the management capital prudential standard. Indexed securities pay an income stream that is dependent upon an external factor. The Credit Risk Yield Adjustment is an addition to the resilience reserves made in accordance with the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of interest bearing securities is the net market value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Credit Risk Yield Adjustment Indexed IBS Amount Report the value of the Credit Risk Yield Adjustment in relation to the admissible value of Loans in the General Fund with a resilience requirement, as per the management capital prudential standard. The Credit Risk Yield Adjustment is an addition to the resilience reserves made in accordance with the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of Loans is as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Credit Risk Yield Adjustment Loans Amount Report the value of the Credit Risk Yield Adjustment in relation to the admissible value of non indexed interest bearing securities in the General Fund with a resilience requirement, as per the management capital prudential standard. Non-indexed securities pay an income stream that is not dependent upon any external factor. The Credit Risk Yield Adjustment is an addition to the resilience reserves made in accordance with the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of interest bearing securities is the net market value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Credit Risk Yield Adjustment Non Indexed IBS Amount Report the value of the Credit Risk Yield Adjustment in relation to the admissible value of assets in the General Fund where the actuary has considered that non-standard resilience factors are appropriate, as per the management capital prudential standard. This should only be used in rare cases. It is intended to cover situations where assets are disaggregated into (1) an identifiable sub-asset and (2) a residual that does not fit into any of the asset sectors specified by Life Insurance Prudential Standards for resilience purposes, or where a non-standard resilience risk has been modelled in accordance with Life Insurance Prudential Standards. The Credit Risk Yield Adjustment is an addition to the resilience reserves made in accordance with the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value is the net market value of all assets where the actuary has considered that non-standard resilience factors are appropriate, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Credit Risk Yield Adjustment Non Standard Resilience Factors Amount Report the value of the Credit Risk Yield Adjustment in relation to the admissible value of total assets in the General Fund with a resilience requirement, as per the management capital prudential standard. The Credit Risk Yield Adjustment is an addition to the resilience reserves made in accordance with the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context.. The admissible value of total assets is as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Credit Risk Yield Adjustment Total Amount Report the value of the expense reserve as determined in accordance with the management capital standard. This reflects capital requirements arising from expense risks in a closed fund scenario. Financial Risk Management Capital Expense Reserve Amount Report the adjusted value of the expense reserve as determined in accordance with the management capital standard. This reflects capital requirements arising from expense risks in a closed fund scenario. The adjustment is for the prescribed yield change in the discount rate used in their valuation, in accordance with the solvency standard. Financial Risk Management Capital Expense Reserve Adjusted Amount Report the tax multiple `M' multiplied by the value of run-off expenses as determined in accordance with the management capital standard. The effect is to reduce the amount required to be reserved to reflect the after tax effect of the expenses on the reporting party. The tax multiple `M' is the net of tax multiple. This is based on a gross multiple of 1 adjusted for the tax deductibility of expenses, only to the extent that a tax deduction would reasonably be expected to be realised on ceasing new business. Run-off expenses, for this purpose, is to be determined by reference to the total actual expenses of the General Fund (other than interest expenses on debt that is associated with the holding of assets in the General Fund) for the 12 months prior to the valuation: a) in the case of expenses related to life insurance business, the run-off expenses is total actual acquisition expenses less the variable expenses included in that amount; and b) otherwise, the run-off expenses is total actual expenses less the variable expenses included in that amount. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Expense Reserve Net Of Tax Amount Report the amount of Statutory Capital which has been utilised in meeting the expense reserve requirement of all statutory funds in accordance with the solvency prudential standard and in meeting Financial Risk Management Capital Expense Reserve Offset Statutory Capital Amount Report the value of the Adverse Exchange Movement Adjustment in relation to the admissible value of assets in the General Fund where the actuary has considered that non-standard resilience factors are appropriate, as per the management capital prudential standard. This should only be used in rare cases. It is intended to cover situations where assets are disaggregated into (1) an identifiable sub-asset and (2) a residual that does not fit into any of the asset sectors specified by Life Insurance Prudential Standards for resilience purposes, or where a non-standard resilience risk has been modelled in accordance with Life Insurance Prudential Standards. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value is the net market value of all assets where the actuary has considered that non-standard resilience factors are appropriate, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital FX Adjustment Assets Non Standard Resillience Factors Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible Cash and Liquid Assets in the General Fund with a resilience requirement, as per the management capital prudential standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of Cash and Liquid Assets is the value of Cash and Liquid Assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital FX Adjustment Cash Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible Deferred Tax Assets in the General Fund with a resilience requirement, as per the management capital prudential standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the management capital prudential standard. . The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of tax assets is the value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital FX Adjustment DTA Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible equity investment securities in the General Fund with a resilience requirement, as per the management capital prudential standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of equity investment securities is the net market value of all equity investment securities consistent with the classification and measurement basis used for Investment Securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital FX Adjustment Equities Amount Report the value of the Adverse Exchange Movement Adjustment in relation to the admissible value of indexed interest bearing securities in the General Fund with a resilience requirement, as per the management capital prudential standard. Indexed securities pay an income stream that is dependent upon an external factor. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of interest bearing securities is the net market value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital FX Adjustment Indexed IBS Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible property investments in the General Fund with a resilience requirement, as per the management capital prudential standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of property investments is the net market value of the entity's General Fund holdings of property investments as determined in accordance with the relevant accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. This includes investments in property by way of units in property trusts or other indirect investment methods as well as investments in real property (land and buildings). The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital FX Adjustment Investment Property Amount Report the value of the Adverse Exchange Movement Adjustment in relation to the admissible value of Loans in the General Fund with a resilience requirement, as per the management capital prudential standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of Loans is as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital FX Adjustment Loans Amount Report the value of the Adverse Exchange Movement Adjustment in relation to the admissible value of non indexed interest bearing securities in the General Fund with a resilience requirement, as per the management capital prudential standard. Non-indexed securities pay an income stream that is not dependent upon any external factor. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of interest bearing securities is the net market value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital FX Adjustment Non Indexed IBS Amount Report the value of the Adverse Exchange Movement Adjustment in relation to the admissible value of other investment assets in the General Fund with a resilience requirement, as per the management capital prudential standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of other investment assets is the net market value of total assets acquired with the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital FX Adjustment Other Investment Assets Amount Report the value of the Adverse Exchange Movement Adjustment in relation to the admissible value of other non investment assets in the General Fund with a resilience requirement, as per the management capital prudential standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of other non investment assets is the net market value of the total assets acquired without the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital FX Adjustment Other Non Investment Assets Amount Report the value of the Adverse Exchange Movement Adjustment in relation to the admissible value of receivables in the General Fund with a resilience requirement, as per the management capital prudential standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of receivables is the net market value of receivables as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital FX Adjustment Receivables Amount Report the value of the Adverse Exchange Movement Adjustment in relation to the admissible value of total assets in the General Fund with a resilience requirement, as per the management capital prudential standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context.. The admissible value of total assets is as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital FX Adjustment Total Amount Report the value of the inadmissible portion (as determined in accordance with the management capital prudential standard) of the assets subject to the risk that, in the context of the reporting party being closed to new business, the value of the asset differs from the value disclosed in the regulatory financial statements. Financial Risk Management Capital Inadmissible Assets Going Concern Value Amount Report the value of any intangible assets held that are related to the business of the reporting party itself and are not independently realisable, for example deferred acquisition costs assets, in accordance with the assumptions required under the management capital prudential standard. Financial Risk Management Capital Inadmissible Assets Intangibles Value Amount Report the net difference between the value disclosed in the financial statements and the net realisable market value of all assets and financial liabilities (other than policy liabilities) of the reporting entity, in accordance with the assumptions required under the management capital prudential standard. Financial Risk Management Capital Inadmissible Assets NMV Alignment Amount Report the amount by which the value of the reporting party's holdings in Associated and Subsidiary Financial Services Entities exceed their net tangible assets, in accordance with the assumptions required under the management capital prudential standard. Financial Risk Management Capital Inadmissible Assets Related Parties Value Amount Report the amount of the asset that is inadmissible for management capital purposes. These are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. Assets used in the conduct of business is determined as the amount by which the stated value of the asset in the financial statements exceeds the value the asset would have in a run-off or transfer situation. Financial Risk Management Capital Inadmissible Assets Total Amount Report the total value of all assets wholly or partly subject to the inadmissibility requirements of the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. Assets used in the conduct of business is determined as the amount by which the stated value of the asset in the financial statements exceeds the value the asset would have in a run-off or transfer situation. Financial Risk Management Capital Inadmissible Assets Total Net Market Value Amount Report the value of the investment linked business reserve determined in accordance with the management capital standard. This is determined as 0.25% of the greater of the Policy Liability value in respect of investment linked business (as determined in accordance with the assumptions of the solvency standard) or the Minimum Termination Value (MTV) of investment linked business. MTV is the amount that the reporting party is obliged to pay to policyholders if they decided to voluntarily terminate their policies at the relevant date. The obligation might be contractual, statutory or a result of past practice. Calculated as the greater of: a) the lowest Termination Value that the reporting party is obliged to pay; and b) the amount calculated in accordance with the Surrender Value Standard. Financial Risk Management Capital Investment Linked Business Amount Report the realistic value of the liabilities of the general fund of the reporting party. The realistic value of the liabilities is the value of the liabilities increased, in the case of life insurance related activities, to reflect assumptions which are more conservative (anticipate a more adverse experience) than best estimate assumptions. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Liabilities Realistic Amount Report the total liabilities as determined in accordance with the management capital prudential standard. Financial Risk Management Capital Liabilities Total Amount Report the adjusted total liabilities as determined in accordance with the management capital prudential standard. The adjustment is for the prescribed yield change in the discount rate used in their valuation, in accordance with the solvency standard. Financial Risk Management Capital Liabilities Total Adjusted Amount Report the liability component as determined in accordance with management capital standard. The Liability Component is determined as the realistic value of liabilities of the General Fund plus, in the case of a friendly society, the reserve in respect of servicing expenses and investment-linked business. The realistic value of the liabilities is the value of the liabilities increased, in the case of life insurance related activities, to reflect assumptions which are more conservative (anticipate a more adverse experience) than best estimate assumptions. Report the value of the servicing expense reserve determined in accordance with the management capital standard. This relates to a deficiency between expected management fees to be received from the benefit funds and expected servicing expenses. The investment linked business reserve is determined as 0.25% of the greater of the Policy Liability value in respect of investment linked business (as determined in accordance with the assumptions of the solvency standard) or the Minimum Termination Value (MTV) of investment linked business. MTV is the amount that the reporting party is obliged to pay to policyholders if they decided to voluntarily terminate their policies at the relevant date. The obligation might be contractual, statutory or a result of past practice. Calculated as the greater of: a) the lowest Termination Value that the reporting party is obliged to pay; and b) the amount calculated in accordance with the Surrender Value Standard. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Liability Component Amount Report the amount of Statutory Capital which has been utilised in meeting the new business reserve requirements of all statutory funds in accordance with the capital adequacy prudential standard. Financial Risk Management Capital New Business Reserve Offset Statutory Capital Amount Report the prescribed minimum capital requirement as per Prudential Standard PS3 Financial Risk Management Capital Prescribed Minimum Capital Amount Report the value of the Prescribed Yield Adjustment in relation to the admissible value of assets in the General Fund where the actuary has considered that non-standard resilience factors are appropriate, as per the management capital prudential standard. This should only be used in rare cases. It is intended to cover situations where assets are disaggregated into (1) an identifiable sub-asset and (2) a residual that does not fit into any of the asset sectors specified by Life Insurance Prudential Standards for resilience purposes, or where a non-standard resilience risk has been modelled in accordance with Life Insurance Prudential Standards. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value is the net market value of all assets where the actuary has considered that non-standard resilience factors are appropriate, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Prescribed Yield Adjustment Assets Non Standard Resillience Factors Amount Report the value of the Prescribed Yield Adjustment in relation to admissible Cash and Liquid Assets in the General Fund with a resilience requirement, as per the management capital prudential standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of Cash and Liquid Assets is the value of Cash and Liquid Assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Prescribed Yield Adjustment Cash Amount Report the value of the Prescribed Yield Adjustment in relation to admissible Deferred Tax Assets in the General Fund with a resilience requirement, as per the management capital prudential standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of tax assets is the value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Prescribed Yield Adjustment Deferred Tax Assets Amount Report the value of the Prescribed Yield Adjustment in relation to admissible equity investment securities in the General Fund with a resilience requirement, as per the management capital prudential standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of equity investment securities is the net market value of all equity investment securities consistent with the classification and measurement basis used for Investment Securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Prescribed Yield Adjustment Equities Amount Report the value of the Prescribed Yield Adjustment in relation to the admissible value of indexed interest bearing securities in the General Fund with a resilience requirement, as per the management capital prudential standard. Indexed securities pay an income stream that is dependent upon an external factor. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of interest bearing securities is the net market value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Prescribed Yield Adjustment Indexed IBS Amount Report the value of the Prescribed Yield Adjustment in relation to admissible property investments in the General Fund with a resilience requirement, as per the management capital prudential standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of property investments is the net market value of the entity's General Fund holdings of property investments as determined in accordance with the relevant accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. This includes investments in property by way of units in property trusts or other indirect investment methods as well as investments in real property (land and buildings). The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Prescribed Yield Adjustment Investment Property Amount Report the value of the Prescribed Yield Adjustment in relation to the admissible value of Loans in the General Fund with a resilience requirement, as per the management capital prudential standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of Loans is as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Prescribed Yield Adjustment Loans Amount Report the value of the Prescribed Yield Adjustment in relation to the admissible value of non indexed interest bearing securities in the General Fund with a resilience requirement, as per the management capital prudential standard. Non-indexed securities pay an income stream that is not dependent upon any external factor. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of interest bearing securities is the net market value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Prescribed Yield Adjustment Non Indexed IBS Amount Report the value of the Prescribed Yield Adjustment in relation to the admissible value of other investment assets in the General Fund with a resilience requirement, as per the management capital prudential standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of other investment assets is the net market value of total assets acquired with the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Prescribed Yield Adjustment Other Investment Assets Amount Report the value of the Prescribed Yield Adjustment in relation to the admissible value of other non investment assets in the General Fund with a resilience requirement, as per the management capital prudential standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of other non investment assets is the net market value of the total assets acquired without the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Prescribed Yield Adjustment Other Non Investment Assets Amount Report the value of the Prescribed Yield Adjustment in relation to the admissible value of receivables in the General Fund with a resilience requirement, as per the management capital prudential standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context. The admissible value of receivables is the net market value of receivables as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Prescribed Yield Adjustment Receivables Amount Report the value of the Prescribed Yield Adjustment in relation to the admissible value of total assets in the General Fund with a resilience requirement, as per the management capital prudential standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the management capital prudential standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital prudential standard), such that after the changes the admissible assets of the General Fund are able to meet the liabilities of the General Fund, in an ongoing business context.. The admissible value of total assets is as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the management capital prudential standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Management Capital Prescribed Yield Adjustment Total Amount Report the Prudential Capital requirement, being the greater of the Management Capital Reserve and the Prescribed Minimum Capital Amount as per Prudential Standards. The Management Capital Reserve is determined in accordance with the management capital prudential standard, as the total Management Capital Requirement less the Total Liabilities of the General Fund. The total Management Capital Requirement is the value of the minimum capital requirement determined in accordance with the management capital prudential standard and held outside the statutory funds to ensure that under a range of adverse operating circumstances the company would be expected to be in a position to meet its trading commitments and adequately service its policy owners. The total liabilities are the net market value, or fair value, of liabilities including deferred acquisition costs arising in respect of policies. This method of disclosure differs from the Australian Accounting Standards. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Prudential Capital Requirement Amount Report the prudential capital coverage, being the amount derived by dividing the General Fund net assets (determined according to accounting standards) by the Prudential Capital Requirement. The Prudential Capital Requirement is the greater of the Prescribed Minimum Capital Amount (as prescribed in prudential standard PS3 for this reporting party) and the Management Capital Reserve. The Management Capital Reserve is deteremined in accordance with the management capital prudential standard, as the total Management Capital Requirement less the Total Liabilities of the General Fund. The total Management Capital Requirement is the value of the minimum capital requirement determined in accordance with the management capital prudential standard and held outside the statutory funds to ensure that under a range of adverse operating circumstances the company would be expected to be in a position to meet its trading commitments and adequately service its policy owners. The total liabilities are the net market value, or fair value, of liabilities including deferred acquisition costs arising in respect of policies. This method of disclosure differs from the Australian Accounting Standards. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Prudential Coverage Percent Report the value of the minimum capital requirement determined in accordance with the management capital prudential standard and held outside the statutory funds to ensure that under a range of adverse operating circumstances the company would be expected to be in a position to meet its trading commitments and adequately service its policy owners. Financial Risk Management Capital Requirement Amount Report the Management Capital Reserve determined in accordance with the management capital prudential standard, as the total Management Capital Requirement less the Total Liabilities of the General Fund. The total Management Capital Requirement is the value of the minimum capital requirement determined in accordance with the management capital prudential standard and held outside the statutory funds to ensure that under a range of adverse operating circumstances the company would be expected to be in a position to meet its trading commitments and adequately service its policy owners. The total liabilities are the net market value, or fair value, of liabilities including deferred acquisition costs arising in respect of policies. This method of disclosure differs from the Australian Accounting Standards. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Reserve Amount Report the total new business reserve amount determined in accordance with the management capital prudential standard. This is: a) the additional amount required to ensure that the Solvency Requirement of the General Fund will continue to be met over the next three years, allowing for capital and profit emerging over that period from the existing business of the fund; less b) New business capital - the amount represented by existing, binding arrangements for the external raising of capital specific to the financing of new business within the General Fund; plus c) Offset Statutory Capital, which is the amount of Statutory Capital appropriately utilised in meeting the new business reserve requirements across all the statutory funds of the reporting entity. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Reserve New Business Amount Report the additional amount required to ensure that the Solvency Requirement of the General Fund will continue to be met over the next three years, allowing for capital and profit emerging over that period from the existing business of the fund, as determined in accordance with the management capital prudential standard. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Reserve New Business Before External Sources Amount Report the new business capital amount. New business capital is represented by existing, binding arrangements for the external raising of capital specific to the financing of new business within the General Fund. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Reserve New Business Capital Amount Report the Management Capital Reserve Ratio calculated as: MCR divided by TLGF where: TLGF = The Total Liabilities of the General Fund determined as the value of liabilities including allowance for acquisition costs arising in respect of policies. This method of disclosure differs from the Australian Accounting Standards.. MCR = the Management Capital Reserve determined in accordance with the management capital prudential standard, as the total Management Capital Requirement less the Total Liabilities of the General Fund (TLGF). The total Management Capital Requirement is the value of the minimum capital requirement determined in accordance with the management capital prudential standard and held outside the statutory funds to ensure that under a range of adverse operating circumstances the company would be expected to be in a position to meet its trading commitments and adequately service its policy owners. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Reserve Ratio Percent Report the Credit Risk component of Management Capital Resilience Reserve (RRCR), to be calculated as: RRCR = (L' / A') x (DELTA ACRY + DELTA ACRD) Where: L' = Liabilities adjusted for the prescribed yield change in the discount rate used in their valuation, in accordance with the management capital standard. A' = Adjusted value of admissible assets (see below); DELTA ACRY = Credit Risk Yield Adjustment - an addition to the resilience reserves (see below) made in accordance with the management capital standards; and DELTA ACRD = Credit Risk Default Adjustment - an addition to the resilience reserves (see below) calculated using the prescribed Credit Risk Default factors as set out in the management capital standards. Adjusted value of admissible assets is the value of total admissible assets with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the management capital standards. Total admissible assets is the value of total assets as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the management capital standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. The Management Capital Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital standard), such that after the changes the admissible assets of the general fund are able to meet the liabilities of the general fund in accordance with the management capital standard. General Fund refers to the management fund for a friendly society or the shareholders' fund for other life companies, and is distinct and separate from the statutory funds of the life company. Financial Risk Management Capital Resilience Credit Risk Component Amount Report the total Management Capital Resilience Reserve (RR) for this reporting party, to be calculated as: RR = L' x [A / A'] ' L; Where: A = Admissible Assets with a resilience requirement (see below) prior to prescribed change; L = Liabilities prior to prescribed change are the total liabilities as determined in accordance with the management capital prudential standard, prior to any prescribed changes to assumptions in that standard used to calculate them. L' = Liabilities adjusted for the prescribed yield change in the discount rate used in their valuation, in accordance with the management capital standard. A' = Adjusted value of admissible assets (see below); Adjusted value of admissible assets is the value of total admissible assets with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the management capital standards. Total admissible assets is the value of total assets as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the management capital standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the scenarios of adverse experience) intangible assets; d) other assets not measured at fair value in the regulatory financial statements; and e) the alignment necessary to ensure the remaining assets and the other liabilities are based on net market value. The Management Capital Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment ( as per the management capital standard), such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. Financial Risk Management Capital Resilience Total Amount Report the value of the servicing expense reserve determined in accordance with the management capital standard. This relates to a deficiency between expected management fees to be received from the benefit funds and expected servicing expenses. Financial Risk Management Capital Servicing Expenses Amount Report the amount required under the management capital standard to ensure, as far as practicable, that: (a) the financial position of the reporting party reflects an appropriate capital commitment, outside of its statutory/benefit funds, to its life insurance business; and (b) the reporting party will be able to meet its obligations in respect of any business it carries on that is not life insurance business as those obligations fall due. Financial Risk Management Capital Solvency Requirement Amount Report the net market value, or fair value, of assets where the actuary has considered that non-standard resilience factors are appropriate. This should only be used in rare cases. It is intended to cover situations where assets are disaggregated into (1) an identifiable sub-asset and (2) a residual that does not fit into any of the asset sectors specified by Life Insurance Prudential Standards for resilience purposes, or where a non-standard resilience risk has been modelled in accordance with Life Insurance Prudential Standards. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Market Assets With Non Standard Resilience Factors Amount Report the net market value, or fair value, of assets for which there is no resilience reserve requirement. Mismatching of asset and liability exposures necessitates the provision of a reserve for adverse movements in the investment markets to the extent they will not be matched by a corresponding movement in the liabilities. Where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them, the Resilience Reserve in respect of those liabilities can be zero. It is not necessary to hold resilience reserves for that part of an asset which is inadmissible nor the free assets (in excess of the Capital Adequacy or Solvency Requirement) of the fund. Inadmissible assets are those assets: 1) the value of which is dependent on the ongoing conduct of business; 2) holdings in associated financial entities; and 3) concentrated asset exposures. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Market Assets With No Resilience Reserve Requirement Amount Report the proportion (as a percentage) of the net total assets backing policy liabilities that are exposed to unhedged currency risks associated with foreign currencies. Financial Risk Market Unhedged Currency Risk Exposure Net Assets Backing Policy Liabilities Percent Report the value of admissible assets with non-standard resilience factors adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the solvency standards. Admissible assets with non-standard resilience factors is the net market value, or fair value, of assets where the actuary has considered that non-standard resilience factors are appropriate. This should only be used in rare cases. It is intended to cover situations where assets are disaggregated into (1) an identifiable sub-asset and (2) a residual that does not fit into any of the asset sectors specified by Life Insurance Prudential Standards for resilience purposes, or where a non-standard resilience risk has been modelled in accordance with Life Insurance Prudential Standards. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Solvency Adjusted Admissible Assets Non Standard Resilience Factors Amount Report the value of admissible cash assets with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the solvency standards. Admissible cash assets is the value of Cash and Liquid Assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Adjusted Admissible Cash Amount Report the value of the Credit Risk Default Adjustment in relation to the admissible value of tax assets with a resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the solvency standards. The admissible value of tax assets is the value as determined in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are those tax assets dependent on the ongoing conduct of business, for example tax losses that require future taxable income in order to be realised. Financial Risk Solvency Adjusted Admissible DTA Amount Report the value of admissible equity investment securities with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the solvency standards. Admissible equity investment securities is the value of all equity investment securities consistent with the classification and measurement basis used for Investment Securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Adjusted Admissible Equities Amount Report the value of admissible indexed debt securities with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the solvency standards. Indexed securities pay an income stream that is dependent upon an external factor. Admissible debt securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Adjusted Admissible Indexed IBS Amount Report the value of admissible Investment Property with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the solvency standards. Admissible Investment Property is the net market value of the entity's holdings of property investments as determined in accordance with the relevant accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. This includes investments in property by way of units in property trusts or other indirect investment methods as well as investments in real property (land and buildings). The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Adjusted Admissible Investment Property Amount Report the value of admissible loan assets with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the solvency standards. Admissible loan assets is the value of total Loans and Advances as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Adjusted Admissible Loans Amount Report the value of admissible non indexed debt securities with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the solvency standards. Non-indexed securities pay an income stream that is not dependent upon any external factor. Admissible debt securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Adjusted Admissible Non Indexed IBS Amount Report the value of admissible other investment assets with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the solvency standards. Admissible other investment assets is the value of the total assets acquired with the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Adjusted Admissible Other Investment Assets Amount Report the value of admissible other non-investment assets with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the solvency standards. Admissible other non-investment assets is the value of the total assets acquired without the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Adjusted Admissible Other Non Investment Assets Amount Report the value of admissible Gross Policy Liabilities ceded under reinsurance with a resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the solvency standards. The admissible value is the net market value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Solvency Adjusted Admissible Policy Liability Reinsurance Amount Report the value of admissible receivables with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the solvency standards. Admissible receivables is the value of Total Receivables as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Adjusted Admissible Receivables Amount Report the value of total admissible assets with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the solvency standards. Total admissible assets is the value of total assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Adjusted Admissible Total Amount Report the amount of eligible capital determined in accordance with the solvency standard. This is calculated as the Net Assets of the reporting party as determined in accordance with accounting standards, including accrued income, adjusted for: 1) Policy Owner Retained Profits as determined in accordance with accounting standards; 2) Eligible Amount of Approved Subordinated Debt as determined in accordance with the approval letter received from the relevant regulatory authority; 3) Net market value, or fair value, of borrowings classified as seed capital (see below); and 4) MTV Adjustment. Where: Adjustment 3) Seed capital is the preliminary contribution of funding toward the financing of a new business. Commonly this is in the form of a loan, usually provided by a related entity. Borrowings are amounts of money on loan from financial institutions or other creditors with the promise or understanding that it will be repaid regardless of how the business turns out, whereas Seed Capital is more like Subordinated Debt and doesn't have to be repaid in extreme adverse circumstances. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Adjustment 4) The MTV Adjustment is the value of the Net Policy Liabilities (net of reinsurance) less the Net Minimum Termination Value (MTV). Net Policy Liabilities are valued in accordance with prudential standards LPS 1.04, Valuation of Policy Liabilities, offset by the value of policy liabilities ceded under reinsurance. This amount includes liabilities for deferred fee revenue and deferred acquisition costs. For participating benefits, it includes bonuses in respect of the relevant period. This method of disclosure differs from the Australian Accounting Standards. Net Minimum Termination Value (MTV) is the minimum termination value (net of reinsurance) excluding the amount of any investment linked risk margin. The minimum termination value (MTV) is determined by the prudential standards as the amount that a life insurer is obliged to pay to policyholders if they decided to voluntarily terminate their policies at the relevant date. The obligation might be contractual, statutory or a result of past practice. Calculated as the greater of: a) the lowest Termination Value that the reporting party is obliged to pay; and b) the amount calculated in accordance with the Surrender Value Standard. The investment linked (IL) risk margin reflecst the additional risks that may be borne by the reporting party in conducting investment-linked business. Financial Risk Solvency Adjusted Assets Total Amount Report the amount of required capital determined in accordance with the solvency standard, being the difference between the net solvency requirement and the adjusted liabilities. The net solvency requirement is the Total Solvency Requirement less Gross Policy Liabilities ceded under reinsurance. Total Solvency Requirement is the amount required under the solvency standard to ensure, as far as practicable, that, at any time, the financial position of each business unit of a reporting party is such that the reporting party will be able, out of the assets of the unit, to meet all policy and other liabilities referable to the unit at that time as they become due. Gross Policy Liabilities ceded under reinsurance are determined in accordance with the accounting standards. The adjusted liabilities are the total of the Minimum Termination Value (net of reinsurance and excluding the Investment Linked [IL] risk margin) and "Other Liabilities" (see below). The minimum termination value (MTV) is determined by the prudential standards as the amount that a life insurer is obliged to pay to policyholders if they decided to voluntarily terminate their policies at the relevant date. The obligation might be contractual, statutory or a result of past practice. Calculated as the greater of: a) the lowest Termination Value that the reporting party is obliged to pay; and b) the amount calculated in accordance with the Surrender Value Standard. The investment linked (IL) risk margin reflects the additional risks that may be borne by the reporting party in conducting investment-linked business. Other Liabilities are the total liabilities as determined in accordance with the relevant accounting standards other than Policy Liabilities, Approved Eligible Subordinated Debt and Seed Capital. Eligible approved subordinated debt, is determined in accordance with the approval letter received from the relevant regulatory authority. Seed capital is the preliminary contribution of funding toward the financing of a new business. Commonly this is in the form of a loan, usually provided by a related entity. Financial Risk Solvency Adjusted Liabilities Total Amount Report the value of admissible assets with non-standard resilience factors at the adjusted yield. The Adjusted Yield is determined in accordance with the solvency capital requirement standards and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible assets with non-standard resilience factors is the net market value, or fair value, of assets where the actuary has considered that non-standard resilience factors are appropriate. This should only be used in rare cases. It is intended to cover situations where assets are disaggregated into (1) an identifiable sub-asset and (2) a residual that does not fit into any of the asset sectors specified by Life Insurance Prudential Standards for resilience purposes, or where a non-standard resilience risk has been modelled in accordance with Life Insurance Prudential Standards. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Solvency Adjusted Yield Assets Non Standard Resilience Factors Amount Report the value of admissible cash assets with resilience requirement at the adjusted yield. The Adjusted Yield is determined in accordance with the solvency capital requirement standards and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible cash assets is the value of Cash and Liquid Assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Adjusted Yield Cash Amount Report the admissible value of tax assets with a resilience requirement at the adjusted yield. The Adjusted Yield is determined in accordance with the solvency capital requirement standards and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. The admissible value of tax assets is the value as determined in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are those tax assets dependent on the ongoing conduct of business, for example tax losses that require future taxable income in order to be realised. Financial Risk Solvency Adjusted Yield DTA Amount Report the value of admissible equity investment securities with resilience requirement at the adjusted yield. The Adjusted Yield is determined in accordance with the solvency capital requirement standards and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible equity investment securities is the value of all equity investment securities consistent with the classification and measurement basis used for Investment Securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Adjusted Yield Equities Amount Report the value of admissible indexed debt securities with resilience requirement at the adjusted yield. Indexed debt securities pay an income stream that is dependent on an external factor. The Adjusted Yield is determined in accordance with the solvency capital requirement standards and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible debt securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Adjusted Yield Indexed IBS Amount Report the value of admissible Investment Property with resilience requirement at the adjusted yield. The Adjusted Yield is determined in accordance with the solvency capital requirement standards and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible Investment Property is the net market value of the entity's holdings of property investments as determined in accordance with the relevant accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. This includes investments in property by way of units in property trusts or other indirect investment methods as well as investments in real property (land and buildings). The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Adjusted Yield Investment Property Amount Report the value of admissible loan assets with resilience requirement at the adjusted yield. The Adjusted Yield is determined in accordance with the solvency capital requirement standards and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible loan assets is the value of total Loans and Advances as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Adjusted Yield Loans Amount Report the value of admissible non indexed debt securities with resilience requirement at the adjusted yield. Non-indexed securities pay an income stream that is not dependent upon any external factor. The Adjusted Yield is determined in accordance with the solvency capital requirement standards and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible debt securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Adjusted Yield Non Indexed IBS Amount Report the value of admissible other investment assets with resilience requirement at the adjusted yield. The Adjusted Yield is determined in accordance with the solvency capital requirement standards and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible other investment assets is the value of the total assets acquired with the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Adjusted Yield Other Investment Assets Amount Report the value of admissible other non-investment assets with resilience requirement at the adjusted yield. The Adjusted Yield is determined in accordance with the solvency capital requirement standards and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible other non-investment assets is the value of the total assets acquired without the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Adjusted Yield Other Non Investment Assets Amount Report the admissible value of Gross Policy Liabilities ceded under reinsurance with a resilience requirement at the adjusted yield. The Adjusted Yield is determined in accordance with the solvency capital requirement standards and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. The admissible value is the net market value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Solvency Adjusted Yield Policy Liability Reinsurance Amount Report the value of admissible receivables with resilience requirement at the adjusted yield. The Adjusted Yield is determined in accordance with the solvency capital requirement standards and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible receivables is the value of Total Receivables as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Adjusted Yield Receivables Amount Report the value of total admissible assets with resilience requirement at the adjusted yield. The Adjusted Yield is determined in accordance with the solvency capital requirement standards and is applied to the value of the admissible assets as part of the calculation of the Resilience Reserve. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Total admissible assets is the value of total assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Adjusted Yield Total Amount Report the value of admissible assets for which there is no resilience reserve requirement, as per the solvency standard. Mismatching of asset and liability exposures necessitates the provision of a reserve for adverse movements in the investment markets to the extent they will not be matched by a corresponding movement in the liabilities. Where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them, the Resilience Reserve in respect of those liabilities can be zero. It is not necessary to hold resilience reserves for that part of an asset which is inadmissible nor the free assets (in excess of the Capital Adequacy or Solvency Requirement) of the fund. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Admissible Assets No Resilience Requirement Amount Report the admissible value of Cash and Liquid Assets with a resilience requirement, as per the solvency standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value of Cash and Liquid Assets is the value of Cash and Liquid Assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Admissible Assets Resilience Requirement Cash Amount Report the admissible value of tax assets with a resilience requirement, as per the solvency standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value of tax assets is the value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are those tax assets dependent on the ongoing conduct of business, for example tax losses that require future taxable income in order to be realised. Financial Risk Solvency Admissible Assets Resilience Requirement Deferred Tax Amount Report the admissible value of equity investment securities with a resilience requirement, as per the solvency standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value of equity investment securities is the net market value of all equity investment securities consistent with the classification and measurement basis used for Investment Securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Solvency Admissible Assets Resilience Requirement Equities Amount Report the admissible value of indexed interest bearing securities with a resilience requirement, as per the solvency standard. Indexed debt securities pay an income stream that is dependent on an external factor. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value of interest bearing securities is the net market value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Solvency Admissible Assets Resilience Requirement Indexed IBS Amount Report the admissible value of other investment assets with a resilience requirement, as per the solvency standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value of other investment assets is the net market value of total assets acquired with the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Solvency Admissible Assets Resilience Requirement Investment Other Amount Report the admissible value of loans with a resilience requirement, as per the solvency standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value of loans is the net market value of Loans and Advances receivable as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Solvency Admissible Assets Resilience Requirement Loans Amount Report the admissible value of non indexed interest bearing securities with a resilience requirement, as per the solvency standard. Non-indexed securities pay an income stream that is not dependent upon any external factor. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value of interest bearing securities is the net market value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Solvency Admissible Assets Resilience Requirement Non Indexed IBS Amount Report the admissible value of other non investment assets with a resilience requirement, as per the solvency standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value of other non investment assets is the net market value of total assets acquired without the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Solvency Admissible Assets Resilience Requirement Non Investment Other Amount Report the admissible value of assets where the actuary has considered that non-standard resilience factors are appropriate, as per the solvency standard. This should only be used in rare cases. It is intended to cover situations where assets are disaggregated into (1) an identifiable sub-asset and (2) a residual that does not fit into any of the asset sectors specified by Life Insurance Prudential Standards for resilience purposes, or where a non-standard resilience risk has been modelled in accordance with Life Insurance Prudential Standards. The admissible value is the net market value of all assets where the actuary has considered that non-standard resilience factors are appropriate, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Solvency Admissible Assets Resilience Requirement Non Standard Resillience Factors Amount Report the admissible value of Gross Policy Liabilities ceded under reinsurance with a resilience requirement, as per the solvency standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value is the net market value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the solvency standards. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Solvency Admissible Assets Resilience Requirement Policy Liability Reinsurance Amount Report the admissible value of property investments with a resilience requirement, as per the solvency standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value of property investments is the net market value of the entity's holdings of property investments as determined in accordance with the relevant accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. This includes investments in property by way of units in property trusts or other indirect investment methods as well as investments in real property (land and buildings). The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Solvency Admissible Assets Resilience Requirement Property Amount Report the admissible value of receivables with a resilience requirement, as per the solvency standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value of receivables is the net market value of receivables as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Solvency Admissible Assets Resilience Requirement Receivables Amount Report the admissible value of total assets with a resilience requirement, as per the solvency standard. The resilience requirement is an additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. The admissible value of total assets is the net market value of total assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Solvency Admissible Assets Resilience Requirement Total Amount Report the value of total assets determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Admissible Assets Total Amount This is a balancing item within the list in which it is being used. Balance of Resilience Reserve (RRB) is expected to be calculated as: RRB = RR - RRCR Where: RR = Resilience Reserve = L' x [A / A"] - L; RRCR = (L' / A") x (ACRY + ACRD) A = Assets prior to prescribed change; L = Liabilities prior to prescribed change. L' = Liabilities adjusted for the prescribed yield change in the discount rate used in their valuation, in accordance with the solvency standard. A" = Adjusted value of admissible assets (see below); ACRY = value of the Credit Risk Yield Adjustment - an addition to the resilience reserves (see below) made in accordance with the solvency standards; and ACRD = value of the Credit Risk Default Adjustment - an addition to the resilience reserves (see below) calculated using the prescribed Credit Risk Default factors as set out in the solvency standards. Adjusted value of admissible assets is the value of total admissible assets with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the solvency standards. Total admissible assets is the value of total assets as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the solvency standards. The inadmissible assets are: 1) assets, the value of which is dependent on the ongoing conduct of business; 2) the amount by which holdings in associated financial services entities (as defined in the prudential standards) exceeds their net tangible assets; and 3) concentrated or illiquid asset exposures. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. Financial Risk Solvency Balancing Item Amount Report the basic capital requirements liabilities in accordance with the solvency standard. This is the total liabilities for capital requirements purposes excluding other liabilities and is calculated as the greater of: a) the Current Termination Value of insurance policies as at the relevant date, as calculated by the solvency standard, adjusted for the effective amount of risk mitigation difference to be included as an offset or addition to this value; and b) the greater of the Policy Liability value (as determined in accordance with the assumptions of the solvency standard) or the Minimum Termination Value (MTV) plus the value of the Expense Reserve. The Current Termination Value of a policy is either: a) the amount that would be paid on the basis used in practice from time to time in the event of voluntary termination; or b) where no amount would be paid, the discounted present value of the unexpired risks, future payments and/or contractual premium refunds. Risk mitigation difference is the difference in the value of risk mitigation arrangements as per prudential standards (reinsurance and other similar risk mitigating arrangements and contracts, that while not legally reinsurance, have similar effects) and the value as reflected in the financial statements. MTV is the amount that a life insurer is obliged to pay to policyholders if they decided to voluntarily terminate their policies at the relevant date. The obligation might be contractual, statutory or a result of past practice. Calculated as the greater of: a) the lowest Termination Value that the reporting party is obliged to pay; and b) the amount calculated in accordance with the Surrender Value Standard. The Expense Reserve is the component of the determination of the requirement under the solvency standard that reflects capital requirements arising from expense risks in a closed fund scenario. Financial Risk Solvency Basic Amount Report the value of borrowings, plus overdrafts determined under stress test scenarios in accordance with the Capital Adequacy prudential standards. This method differs from the Australian Accounting Standards. Borrowings are amounts of money on loan from financial institutions or other creditors with the promise or understanding that it will be repaid. Financial Risk Solvency Borrowings Amount Report the effective borrowings, adjusted for the prescribed yield change in the discount rate used in their valuation, in accordance with the Solvency prudential standards. The valuation of effective borrowings includes overdrafts and is determined under stress test scenarios in accordance with the Solvency prudential standards. This method differs from the Australian Accounting Standards. Borrowings are amounts of money on loan from financial institutions or other creditors with the promise or understanding that it will be repaid. Financial Risk Solvency Borrowings Adjusted Amount Report the solvency coverage ratio, calculated as Eligible Capital divided by Required Capital. Eligible Capital is: the Net Assets of the reporting party as determined in accordance with accounting standards, including accrued income, adjusted for: 1) Policy Owner Retained Profits as determined in accordance with accounting standards; 2) Eligible Amount of Approved Subordinated Debt as determined in accordance with the approval letter received from the relevant regulatory authority; 3) Net market value, or fair value, of borrowings classified as seed capital (see below); and 4) MTV Adjustment. Where: 3) Seed capital is the preliminary contribution of funding toward the financing of a new business. Commonly this is in the form of a loan, usually provided by a related entity. Borrowings are amounts of money on loan from financial institutions or other creditors with the promise or understanding that it will be repaid. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. 4) The MTV Adjustment is the value of the Net Policy Liabilities (net of reinsurance) less the Minimum Termination Value (MTV) net of reinsurance excluding the amount of any investment linked risk margin. Net Policy Liabilities are valued in accordance with prudential standards LPS 1.04, Valuation of Policy Liabilities, offset by the value of policy liabilities ceded under reinsurance. This amount includes liabilities for deferred fee revenue and deferred acquisition costs. For participating benefits, it includes bonuses in respect of the relevant period. This method of disclosure differs from the Australian Accounting Standards. The investment linked (IL) risk margin reflects the additional risks that may be borne by the reporting party in conducting investment-linked business. The minimum termination value (MTV) is determined by the prudential standards as the amount that a life insurer is obliged to pay to policyholders if they decided to voluntarily terminate their policies at the relevant date. The obligation might be contractual, statutory or a result of past practice. Calculated as the greater of: a) the lowest Termination Value that the reporting party is obliged to pay; and b) the amount calculated in accordance with the Surrender Value Standard. Required Capital is: the amount of required capital determined in accordance with the solvency standard, being the difference between the net solvency requirement and the adjusted liabilities. The net solvency requirement is the Total Solvency Requirement less Gross Policy Liabilities ceded under reinsurance. Total Solvency Requirement is the amount required under the solvency standard to ensure, as far as practicable, that, at any time, the financial position of each business unit of a reporting party is such that the reporting party will be able, out of the assets of the unit, to meet all policy and other liabilities referable to the unit at that time as they become due. Gross Policy Liabilities ceded under reinsurance are determined in accordance with the accounting standards. The adjusted liabilities are the total of the Minimum Termination Value (net of reinsurance and excluding the Investment Linked [IL] risk margin) and "Other Liabilities" (the total liabilities as determined in accordance with the relevant accounting standards other than Policy Liabilities, Approved Eligible Subordinated Debt and Seed Capital). Financial Risk Solvency Coverage Ratio Percent Report the Credit Risk Default Adjustment in relation to admissible assets with non-standard resilience factors. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible assets with non-standard resilience factors is the net market value, or fair value, of assets where the actuary has considered that non-standard resilience factors are appropriate. This should only be used in rare cases. It is intended to cover situations where assets are disaggregated into (1) an identifiable sub-asset and (2) a residual that does not fit into any of the asset sectors specified by Life Insurance Prudential Standards for resilience purposes, or where a non-standard resilience risk has been modelled in accordance with Life Insurance Prudential Standards. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Solvency Credit Risk Default Adjustment Assets Non Standard Resillience Factors Amount Report the Credit Risk Default Adjustment in relation to admissible cash assets with resilience requirement, as per the solvency standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible cash assets is the value of Cash and Liquid Assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Credit Risk Default Adjustment Cash Amount Report the Credit Risk Default Adjustment in relation to the admissible value of tax assets with resilience requirement, as per the solvency standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. The admissible value of tax assets is the value as determined in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are those tax assets dependent on the ongoing conduct of business, for example tax losses that require future taxable income in order to be realised. Financial Risk Solvency Credit Risk Default Adjustment DTA Amount Report the Credit Risk Default Adjustment in relation to admissible equity investment securities with resilience requirement, as per the solvency standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible equity investment securities is the value of all equity investment securities consistent with the classification and measurement basis used for Investment Securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Credit Risk Default Adjustment Equities Amount Report the Credit Risk Default Adjustment in relation to admissible indexed debt securities with resilience requirement, as per the solvency standard. Indexed securities pay an income stream that is dependent upon an external factor. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible debt securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Credit Risk Default Adjustment Indexed IBS Amount Report the Credit Risk Default Adjustment in relation to admissible Investment Property with resilience requirement, as per the solvency standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible Investment Property is the net market value of the entity's holdings of property investments as determined in accordance with the relevant accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. This includes investments in property by way of units in property trusts or other indirect investment methods as well as investments in real property (land and buildings). The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Credit Risk Default Adjustment Investment Property Amount Report the Credit Risk Default Adjustment in relation to admissible loan assets with resilience requirement, as per the solvency standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible loan assets is the value of total Loans and Advances as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Credit Risk Default Adjustment Loans Amount Report the Credit Risk Default Adjustment in relation to admissible non indexed debt securities with resilience requirement, as per the solvency standard. Non-indexed securities pay an income stream that is not dependent upon any external factor. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible debt securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Credit Risk Default Adjustment Non Indexed IBS Amount Report the Credit Risk Default Adjustment in relation to admissible other investment assets with resilience requirement, as per the solvency standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible other investment assets is the value of the total assets acquired with the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Credit Risk Default Adjustment Other Investment Assets Amount Report the Credit Risk Default Adjustment in relation to admissible other non-investment assets with resilience requirement, as per the solvency standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible other non-investment assets is the value of the total assets acquired without the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Credit Risk Default Adjustment Other Non Investment Assets Amount Report the Credit Risk Default Adjustment in relation to the admissible value of Gross Policy Liabilities ceded under reinsurance with resilience requirement, as per the solvency standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. The admissible value is the net market value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Solvency Credit Risk Default Adjustment Policy Liability Reinsurance Amount Report the Credit Risk Default Adjustment in relation to admissible receivables with resilience requirement, as per the solvency standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible receivables is the value of Total Receivables as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Credit Risk Default Adjustment Receivables Amount Report the value of the Credit Risk Default Adjustment in relation to total admissible assets with resilience requirement, as per the solvency standard. The Credit Risk Default Adjustment is an addition to the resilience reserves calculated using the prescribed Credit Risk Default factors as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Total admissible assets is the value of total assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Credit Risk Default Adjustment Total Amount Report the value of the Credit Risk Yield Adjustment in relation to admissible cash assets with resilience requirement, as per the solvency standard. The Credit Risk Yield Adjustment is an addition to the resilience reserves made in accordance with the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible cash assets is the value of Cash and Liquid Assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Credit Risk Yield Adjustment Cash Amount Report the value of the Credit Risk Yield Adjustment in relation to admissible indexed interest bearing securities with resilience requirement, as per the solvency standard. Indexed debt securities pay an income stream that is dependent on an external factor. The Credit Risk Yield Adjustment is an addition to the resilience reserves made in accordance with the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible interest bearing securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Credit Risk Yield Adjustment Indexed IBS Amount Report the value of the Credit Risk Yield Adjustment in relation to admissible loan assets with resilience requirement, as per the solvency standard. The Credit Risk Yield Adjustment is an addition to the resilience reserves made in accordance with the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible loan assets is the value of total Loans and Advances as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Credit Risk Yield Adjustment Loans Amount Report the value of the Credit Risk Yield Adjustment in relation to admissible non indexed interest bearing securities with resilience requirement, as per the solvency standard. Non-indexed securities pay an income stream that is not dependent upon any external factor. The Credit Risk Yield Adjustment is an addition to the resilience reserves made in accordance with the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible interest bearing securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Credit Risk Yield Adjustment Non Indexed IBS Amount Report the value of the Credit Risk Yield Adjustment in relation to admissible assets with non-standard resilience factors with resilience requirement, as per the solvency standard. The Credit Risk Yield Adjustment is an addition to the resilience reserves made in accordance with the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible assets with non-standard resilience factors is the net market value, or fair value, of assets where the actuary has considered that non-standard resilience factors are appropriate. This should only be used in rare cases. It is intended to cover situations where assets are disaggregated into (1) an identifiable sub-asset and (2) a residual that does not fit into any of the asset sectors specified by Life Insurance Prudential Standards for resilience purposes, or where a non-standard resilience risk has been modelled in accordance with Life Insurance Prudential Standards. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Solvency Credit Risk Yield Adjustment Non Standard Resilience Factors Amount Report the value of the Credit Risk Yield Adjustment in relation to total admissible assets with resilience requirement, as per the solvency standard. The Credit Risk Yield Adjustment is an addition to the resilience reserves made in accordance with the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Total admissible assets is the value of total assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Credit Risk Yield Adjustment Total Amount Report the Current Termination Value of insurance policies as at the relevant date, gross of reinsurance, as calculated by the solvency standard. The Current Termination Value of a policy is either: a) the amount that would be paid on the basis used in practice from time to time in the event of voluntary termination; or b) where no amount would be paid, the discounted present value of the unexpired risks, future payments and/or contractual premium refunds. Financial Risk Solvency Current Termination Value Gross Amount Report the Current Termination Value of insurance policies as at the relevant date, as calculated by the solvency standard, adjusted for the effective amount of risk mitigation difference to be included as an offset or addition to this value. Risk mitigation difference is the difference in the value of risk mitigation arrangements as per prudential standards and the value as reflected in the financial statements. The Current Termination Value of a policy is either: a) the amount that would be paid on the basis used in practice from time to time in the event of voluntary termination; or b) where no amount would be paid, the discounted present value of the unexpired risks, future payments and/or contractual premium refunds. Financial Risk Solvency Current Termination Value Net Amount Report the effective amount of risk mitigation difference to be included as an offset or addition to the Current Termination Value of insurance policies as at the relevant date. Risk mitigation difference is the difference in the value of risk mitigation arrangements as per the solvency standard (reinsurance and other similar risk mitigating arrangements and contracts, that while not legally reinsurance, have similar effects) and the value as reflected in the financial statements. The Current Termination Value of a policy is either: a) the amount that would be paid on the basis used in practice from time to time in the event of voluntary termination; or b) where no amount would be paid, the discounted present value of the unexpired risks, future payments and/or contractual premium refunds. Financial Risk Solvency Effective Risk Mitigation Difference Current Termination Value Gross Amount Report the effective amount to be included as an offset or addition to the value of the "greater of Policy Liability (as determined in accordance with the assumptions of the solvency standard) and Minimum Termination Value" resulting from effective risk mitigation activities. Risk mitigation difference is the difference in the value of risk mitigation arrangements as per prudential standards (reinsurance and other similar risk mitigating arrangements and contracts, that while not legally reinsurance, have similar effects) and the value as reflected in the financial statements. The greater of policy liability and minimum termination value is the aggregate of the greater of the Policy Liability value or the Minimum Termination Value (MTV) of each related product group (RPG), gross of reinsurance. MTV is the amount that a life insurer is obliged to pay to policyholders if they decided to voluntarily terminate their policies at the relevant date. The obligation might be contractual, statutory or a result of past practice. Calculated as the greater of: a) the lowest Termination Value that the reporting party is obliged to pay; and b) the amount calculated in accordance with the Surrender Value Standard. Financial Risk Solvency Effective Risk Mitigation Difference Of Greater Policy Liability MTV Net Aggregate Amount Report the value of the expense reserve. This is the component of the determination of the requirement under the solvency standard that reflects capital requirements arising from expense risks in a closed fund scenario. Financial Risk Solvency Expense Reserve Amount Report the tax multiple 'M' multiplied by the value of fixed acquisition expenses. The effect is to reduce the amount required to be reserved to reflect the after tax effect of the expenses on the reporting party. The tax multiple 'M' is the net of tax multiple. This is based on a gross multiple of 1 adjusted for the tax deductibility of expenses, only to the extent that a tax deduction would reasonably be expected to be realised on ceasing new business. Fixed acquisition expenses, for this purpose, are to be determined as the total actual Acquisition Expenses for the reporting party for the 12 months prior to the valuation date less the variable expenses included in that amount. Financial Risk Solvency Expense Reserve Fixed Acquisition Net Of Tax Amount Report the amount of Statutory Capital which is appropriately utilised in meeting the expense reserve requirements of the reporting party in accordance with the solvency standard. This is the value of Statutory Capital to the extent it has actually been utilised in offsetting components of the statutory fund capital requirements. The Offset Statutory Capital of a reporting party should reflect the aggregate of amounts of Statutory Capital so utilised in each statutory fund and in respect of both Expense Reserve and New Business Reserve components. The Offset Statutory Capital of a reporting party, by definition, may not exceed the Statutory Capital of that reporting party. Financial Risk Solvency Expense Reserve Offset Statutory Capital Amount Report the value calculated by adding the value of the expense reserve to the greater of the Solvency Liability or the Minimum Termination Value (MTV). The greater of the Solvency Liability value or the Minimum Termination Value (MTV) is calculated as: a) the aggregate of the greater of the Solvency Liability value or the Minimum Termination Value (MTV) of each related product group (RPG), gross of reinsurance; adjusted for b) the effective amount of risk mitigation difference to be included as an offset or addition to the value of the greater of Solvency Liability and Minimum Termination Value. Risk mitigation difference is the difference in the value of risk mitigation arrangements as per prudential standards and the value as reflected in the financial statements. The expense reserve is the component of the determination of the Solvency Requirement that reflects capital requirements arising from expense risks in a closed fund scenario. Financial Risk Solvency Expense Reserve Plus Greater Policy Liability MTV Adjusted Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible assets with non-standard resilience factors. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible assets with non-standard resilience factors is the net market value, or fair value, of assets where the actuary has considered that non-standard resilience factors are appropriate. This should only be used in rare cases. It is intended to cover situations where assets are disaggregated into (1) an identifiable sub-asset and (2) a residual that does not fit into any of the asset sectors specified by Life Insurance Prudential Standards for resilience purposes, or where a non-standard resilience risk has been modelled in accordance with Life Insurance Prudential Standards. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Solvency FX Adjustment Assets Non Standard Resilience Factors Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible cash assets with resilience requirement, as per the solvency standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible cash assets is the value of Cash and Liquid Assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency FX Adjustment Cash Amount Report the value of the Adverse Exchange Movement Adjustment in relation to the admissible value of tax assets with resilience requirement, as per the solvency standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. The admissible value of tax assets is the value as determined in accordance with the accounting standards, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are those tax assets dependent on the ongoing conduct of business, for example tax losses that require future taxable income in order to be realised. Financial Risk Solvency FX Adjustment DTA Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible equity investment securities with resilience requirement, as per the solvency standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible equity investment securities is the value of all equity investment securities consistent with the classification and measurement basis used for Investment Securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency FX Adjustment Equities Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible indexed debt securities with resilience requirement, as per the solvency standard. Indexed securities pay an income stream that is dependent upon an external factor. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible debt securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency FX Adjustment Indexed IBS Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible Investment Property with resilience requirement, as per the solvency standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible Investment Property is the net market value of the entity's holdings of property investments as determined in accordance with the relevant accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. This includes investments in property by way of units in property trusts or other indirect investment methods as well as investments in real property (land and buildings). The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency FX Adjustment Investment Property Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible loan assets with resilience requirement, as per the solvency standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible loan assets is the value of total Loans and Advances as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency FX Adjustment Loans Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible non indexed debt securities with resilience requirement, as per the solvency standard. Non-indexed securities pay an income stream that is not dependent upon any external factor. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible debt securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency FX Adjustment Non Indexed IBS Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible other investment assets with resilience requirement, as per the solvency standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible other investment assets is the value of the total assets acquired with the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency FX Adjustment Other Investment Assets Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible other non-investment assets with resilience requirement, as per the solvency standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible other non-investment assets is the value of the total assets acquired without the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency FX Adjustment Other Non Investment Assets Amount Report the value of the Adverse Exchange Movement Adjustment in relation to the admissible value of Gross Policy Liabilities ceded under reinsurance with resilience requirement, as per the solvency standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. The admissible value is the net market value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Solvency FX Adjustment Policy Liability Reinsurance Amount Report the value of the Adverse Exchange Movement Adjustment in relation to admissible receivables with resilience requirement, as per the solvency standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible receivables is the value of Total Receivables as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency FX Adjustment Receivables Amount Report the value of the Adverse Exchange Movement Adjustment in relation to total admissible assets with resilience requirement, as per the solvency standard. The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Total admissible assets is the value of total assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency FX Adjustment Total Amount Report the adjusted value of the greater of the Solvency Liability value (as determined in accordance with the assumptions of the solvency standard) or the Minimum Termination Value (MTV). This adjusted value is: a) the aggregate of the greater of the Solvency Liability value or the Minimum Termination Value (MTV) of each related product group (RPG), gross of reinsurance; adjusted for b) the effective amount of risk mitigation difference to be included as an offset or addition to the value of the greater of policy liability and minimum termination value. Risk mitigation difference is the difference in the value of risk mitigation arrangements as per prudential standards and the value as reflected in the financial statements. MTV is the amount that a life insurer is obliged to pay to policyholders if they decided to voluntarily terminate their policies at the relevant date. The obligation might be contractual, statutory or a result of past practice. Calculated as the greater of: a) the lowest Termination Value that the reporting party is obliged to pay; and b) the amount calculated in accordance with the Surrender Value Standard. Financial Risk Solvency Greater Policy Liability MTV Adjusted Amount Report the aggregate of the greater of the Solvency Liability value (calculated using assumptions as per the solvency standard) or the Minimum Termination Value (MTV) of each related product group (RPG), gross of reinsurance. Financial Risk Solvency Greater Policy Liability MTV Gross Aggregate Amount Report the aggregate of the greater of the Solvency Liability value (calculated using assumptions as per the solvency standard) or the Minimum Termination Value (MTV) of each related product group (RPG), net of reinsurance. MTV is the amount that a life insurer is obliged to pay to policyholders if they decided to voluntarily terminate their policies at the relevant date. The obligation might be contractual, statutory or a result of past practice. Calculated as the greater of: a) the lowest Termination Value that the reporting party is obliged to pay; and b) the amount calculated in accordance with the Surrender Value Standard. Financial Risk Solvency Greater Policy Liability MTV Net Aggregate Amount Report the aggregate of the greater of the Solvency Liability value (calculated using assumptions as per the solvency standard) or the Minimum Termination Value (MTV) of each related product group (RPG), ceded under reinsurance. MTV is the amount that a life insurer is obliged to pay to policyholders if they decided to voluntarily terminate their policies at the relevant date. The obligation might be contractual, statutory or a result of past practice. Calculated as the greater of: a) the lowest Termination Value that the reporting party is obliged to pay; and b) the amount calculated in accordance with the Surrender Value Standard. Financial Risk Solvency Greater Policy Liability MTV Reinsurance Aggregate Amount Report the inadmissible value of Cash and Liquid Assets as per the solvency standard. The inadmissible cash assets are: a) those cash holdings with too little diversification, or have too great an exposure to one obligor of low credit standing; and b) holdings in an associated or subsidiary entity which is a Financial Services entity. Financial Risk Solvency Inadmissible Assets Cash Amount Report the total value (determined in accordance with accounting standards) of all assets wholly or partly subject to the risk of the adverse impact of a concentration of funds in a particular asset, with a particular obligor or with related parties. Financial Risk Solvency Inadmissible Assets Concentration Total Value Amount Report the inadmissible value of equity investment securities as per the solvency standard. Equity investment securities are, as defined by the Australian Accounting Standards, contracts that evidence a residual interest in the assets of an entity after deducting all its liabilities, acquired with the intent to derive a gain either through an income stream or disposal. The inadmissible assets are: a) holdings in an associated or subsidiary entity which is a Financial Services entity; b) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; and c) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Inadmissible Assets Equities Amount Report the total value disclosed in the regulatory financial statements of all assets wholly or partly subject to the risk that their value would differ in the context of the reporting party being closed to new business. Financial Risk Solvency Inadmissible Assets Going Concern Total Value Amount Report the value of the inadmissible portion (as determined in accordance with the solvency standard) of the assets subject to the risk that, in the context of the reporting party being closed to new business, the value of the asset differs from the value disclosed in the regulatory financial statements. Financial Risk Solvency Inadmissible Assets Going Concern Value Amount Report the inadmissible value of indexed interest bearing securities as per the solvency standard. Indexed debt securities pay an income stream that is dependent on an external factor. Interest bearing securities are debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards. The inadmissible assets are: a) holdings in an associated or subsidiary entity which is a Financial Services entity; b) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; and c) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Inadmissible Assets Indexed IBS Amount Report the total value disclosed in the regulatory financial statements of all intangible assets held that are not independently realisable, for example deferred acquisition costs assets. Financial Risk Solvency Inadmissible Assets Intangibles Total Value Amount Report the value of any intangible assets held that are related to the business of the reporting party itself and are not independently realisable, for example deferred acquisition costs assets, in accordance with the assumptions required under the solvency standard. Financial Risk Solvency Inadmissible Assets Intangibles Value Amount Report the inadmissible value of other investment assets as per the solvency standard. Other investment assets represent those which are required to be reported on APRA form LRF_220_0. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Inadmissible Assets Investment Other LRF 220 0 Amount Report the inadmissible value of investment property, as per the solvency standard. Property investments are holdings of property acquired with the intent to derive a gain either through an income stream or disposal. This includes investments in property by way of units in property trusts or other indirect investment methods as well as investments in real property (land and buildings). The inadmissible investment property assets are: a) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; and b) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Inadmissible Assets Investment Property Amount Report the inadmissible value of loans as per the solvency standard. The inadmissible assets are: a) holdings in an associated or subsidiary entity which is a Financial Services entity; b) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; and c) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Inadmissible Assets Loans Amount Report the net difference between the value disclosed in the financial statements and the net realisable market value of all assets and financial liabilities (other than policy liabilities) of the reporting entity, in accordance with the assumptions required under the solvency standard. Financial Risk Solvency Inadmissible Assets NMV Alignment Amount Report the inadmissible value of non indexed interest bearing securities as per the solvency standard. Non-indexed securities pay an income stream that is not dependent upon any external factor. Interest bearing securities are debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards. The inadmissible assets are: a) holdings in an associated or subsidiary entity which is a Financial Services entity; b) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; and c) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Inadmissible Assets Non Indexed IBS Amount Report the inadmissible value of other non investment assets as per the solvency standard. Other non investment assets represent those which are required to be reported on APRA form LRF_220_0. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Inadmissible Assets Non Investment Other LRF 220 0 Amount Report the inadmissible value of receivables as per the solvency standard. The inadmissible assets are: a) holdings in an associated or subsidiary entity which is a Financial Services entity; b) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; and c) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Inadmissible Assets Receivables Amount Report the total value of reinsurance assets subject to inadmissibility rules in accordance with the solvency standard, i.e. those with Associated and Subsidiary Financial Services Entities, and/or concentrated in a single reinsurer. In applying the asset concentration limits of the Standard: a) All exposures to a reinsurer or reinsurance group are to be considered a single counterparty exposure (within the practical context of the application of the limits concerned); and b) Where arrangements with a reinsurer involve both liability and asset components, these may be taken as a single net exposure to the extent they are subject to a legally enforceable right of offset. Financial Risk Solvency Inadmissible Assets Reinsurance Total Value Amount Report the inadmissible portion of the value of reinsurance assets, as determined in accordance with the solvency standard, i.e. those with Associated and Subsidiary Financial Services Entities, and/or concentrated in a single reinsurer. In applying the asset concentration limits of the Standard: a) All exposures to a reinsurer or reinsurance group are to be considered a single counterparty exposure (within the practical context of the application of the limits concerned); and b) Where arrangements with a reinsurer involve both liability and asset components, these may be taken as a single net exposure to the extent they are subject to a legally enforceable right of offset. Financial Risk Solvency Inadmissible Assets Reinsurance Value Amount Report the total value disclosed in the regulatory financial statements of the reporting party's holdings in Associated and Subsidiary Financial Services Entities. Financial Risk Solvency Inadmissible Assets Related Parties Total Value Amount Report the amount of the asset that is inadmissible for solvency purposes. These are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Assets used in the conduct of business is determined as the amount by which the stated value of the asset in the financial statements exceeds the value the asset would have in a run-off or transfer situation. Concentrated asset exposures are the amounts by the which the value of any single asset (aggregating, where necessary, individual assets that are exposed to common risks, such as strata titles in the same property) or single credit exposure (with a particular obligor or related party) exceeds the limits as per prudential standards, or in the opinion of the Actuary creates too little diversification, is too illiquid or has too great an exposure to obligors of low credit standing. Financial Risk Solvency Inadmissible Assets Total Amount Report the total value of all assets wholly or partly subject to the inadmissibility requirements of the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Inadmissible Assets Total Value Amount Report the amount of investment linked (IL) risk margin included in the minimum termination value (MTV). This risk margin reflects the additional risks that may be borne by the reporting party in conducting investment-linked business. MTV is the amount that a life insurer is obliged to pay to policyholders if they decided to voluntarily terminate their policies at the relevant date. The obligation might be contractual, statutory or a result of past practice. Calculated as the greater of: a) the lowest Termination Value that the reporting party is obliged to pay; and b) the amount calculated in accordance with the Surrender Value Standard. Financial Risk Solvency Investment Linked Risk Margin Included In MTV Amount Report the "Basic Capital Requirements Liabilities" (see below), adjusted for the prescribed yield change in the discount rate used in their valuation, in accordance with the solvency standard. The "Basic Capital Requirements Liabilities" is the total liabilities for capital requirements purposes excluding other liabilities and is calculated as the greater of: a) the Current Termination Value of insurance policies as at the relevant date, as calculated by the solvency standard, adjusted for the effective amount of risk mitigation difference to be included as an offset or addition to this value; and b) the greater of the Policy Liability value (as determined in accordance with the assumptions of the solvency standard) or the Minimum Termination Value (MTV) plus the value of the Expense Reserve. The Current Termination Value of a policy is either: a) the amount that would be paid on the basis used in practice from time to time in the event of voluntary termination; or b) where no amount would be paid, the discounted present value of the unexpired risks, future payments and/or contractual premium refunds. Risk mitigation difference is the difference in the value of risk mitigation arrangements as per prudential standards (reinsurance and other similar risk mitigating arrangements and contracts, that while not legally reinsurance, have similar effects) and the value as reflected in the financial statements. MTV is the amount that a life insurer is obliged to pay to policyholders if they decided to voluntarily terminate their policies at the relevant date. The obligation might be contractual, statutory or a result of past practice. Calculated as the greater of: a) the lowest Termination Value that the reporting party is obliged to pay; and b) the amount calculated in accordance with the Surrender Value Standard. The Expense Reserve is the component of the determination of the requirement under the solvency standard that reflects capital requirements arising from expense risks in a closed fund scenario. Financial Risk Solvency Liabilities Basic Adjusted Amount This is the balancing item in the list in which it is being used. Report the value of total liabilities for solvency purposes excluding tax liabilities and effective borrowings. Therefore this item includes approved subordinated debt. Financial Risk Solvency Liabilities Other Amount This is the balancing item in the list in which it is being used. Report the value of total liabilities, adjusted for the prescribed yield change in the discount rate used in their valuation, for solvency purposes excluding tax liabilities and effective borrowings. Therefore this item includes approved subordinated debt and seed capital. Financial Risk Solvency Liabilities Other Adjusted Amount Report the total tax liabilities (current and deferred), adjusted for the prescribed yield change in the discount rate used in their valuation, in accordance with the solvency standard. Financial Risk Solvency Liabilities Tax Adjusted Amount Report the total liabilities as determined in accordance with the solvency prudential standard. Financial Risk Solvency Liabilities Total Amount Report the total liabilities, adjusted for the prescribed yield change in the discount rate used in their valuation, in accordance with the solvency standard. Financial Risk Solvency Liabilities Total Adjusted Amount Report the total liabilities as determined in accordance with the relevant accounting standards other than the solvency liability as determined in accordance with prudential standards. Financial Risk Solvency Liabilities Total Excluding Policy Liabilities Amount Report the total liabilities as determined in accordance with the relevant accounting standards other than Solvency Liability, Approved Eligible Subordinated Debt and Seed Capital. Eligible approved subordinated debt, is determined in accordance with the approval letter received from the relevant regulatory authority. Seed capital is the preliminary contribution of funding toward the financing of a new business. Commonly this is in the form of a loan, usually provided by a related entity. Financial Risk Solvency Liabilities Total Excluding Policy Liabilities Subordinated Debt Seed Capital Amount Report the minimum termination value (net of reinsurance) excluding the amount of any investment linked risk margin. The minimum termination value (MTV) is determined by the prudential standards as the amount that a life insurer is obliged to pay to policyholders if they decided to voluntarily terminate their policies at the relevant date. The obligation might be contractual, statutory or a result of past practice. Calculated as the greater of: a) the lowest Termination Value that the reporting party is obliged to pay; and b) the amount calculated in accordance with the Surrender Value Standard. The investment linked (IL) risk margin reflects the additional risks that may be borne by the reporting party in conducting investment-linked business. Financial Risk Solvency Minimum Termination Value Net Excluding IL Risk Margin Amount Report the value of the Net Policy Liabilities (net of reinsurance) less the Net Minimum Termination Value (MTV). Net Policy Liabilities are valued in accordance with prudential standards LPS 1.04, Valuation of Policy Liabilities, offset by the value of policy liabilities ceded under reinsurance. This amount includes liabilities for deferred fee revenue and deferred acquisition costs. For participating benefits, it includes bonuses in respect of the relevant period. This method of disclosure differs from the Australian Accounting Standards. Net Minimum Termination Value (MTV) is the minimum termination value (net of reinsurance) excluding the amount of any investment linked risk margin. The minimum termination value (MTV) is determined by the prudential standards as the amount that a life insurer is obliged to pay to policyholders if they decided to voluntarily terminate their policies at the relevant date. The obligation might be contractual, statutory or a result of past practice. Calculated as the greater of: a) the lowest Termination Value that the reporting party is obliged to pay; and b) the amount calculated in accordance with the Surrender Value Standard. The investment linked (IL) risk margin reflects the additional risks that may be borne by the reporting party in conducting investment-linked business. Financial Risk Solvency MTV Adjustment Amount Report the minimum termination value (MTV) as determined by the solvency standard, gross of reinsurance. MTV is the amount that a life insurer is obliged to pay to policyholders if they decided to voluntarily terminate their policies at the relevant date. The obligation might be contractual, statutory or a result of past practice. Calculated as the greater of: a) the lowest Termination Value that the reporting party is obliged to pay; and b) the amount calculated in accordance with the Surrender Value Standard. Financial Risk Solvency MTV Gross Aggregate Amount Report the Minimum Termination Value (MTV) as determined by the prudential standards, net of reinsurance. MTV is the amount that a life insurer is obliged to pay to policyholders if they decided to voluntarily terminate their policies at the relevant date. The obligation might be contractual, statutory or a result of past practice. Calculated as the greater of: a) the lowest Termination Value that the reporting party is obliged to pay; and b) the amount calculated in accordance with the Surrender Value Standard. Financial Risk Solvency MTV Net Aggregate Amount Report the Minimum Termination Value (MTV) as determined by the solvency standard, ceded under reinsurance. MTV is the amount that a life insurer is obliged to pay to policyholders if they decided to voluntarily terminate their policies at the relevant date. The obligation might be contractual, statutory or a result of past practice. Calculated as the greater of: a) the lowest Termination Value that the reporting party is obliged to pay; and b) the amount calculated in accordance with the Surrender Value Standard. Financial Risk Solvency MTV Reinsurance Aggregate Amount Report the aggregated value of the solvency liability for all related product groups, as calculated by the solvency standard, gross of reinsurance. These are the guaranteed liabilities under life insurance policies on the basis of assumptions which are more conservative (anticipate a more adverse experience) than best estimate assumptions. Financial Risk Solvency Policy Liability Gross Aggregate Amount Report the aggregated value of the policy liability for all related product groups, as calculated by the solvency standard, net of reinsurance. These are the guaranteed liabilities under life insurance policies on the basis of assumptions which are more conservative (anticipate a more adverse experience) than best estimate assumptions. Financial Risk Solvency Policy Liability Net Aggregate Amount Report the aggregated value of the Solvency Liability for all related product groups, as calculated by the solvency standard, ceded under reinsurance. These are the guaranteed liabilities under life insurance policies on the basis of assumptions which are more conservative (anticipate a more adverse experience) than best estimate assumptions. Financial Risk Solvency Policy Liability Reinsurance Aggregate Amount Report the value of the Prescribed Yield Adjustment in relation to admissible assets with non-standard resilience factors with resilience requirement, as per the solvency standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible assets with non-standard resilience factors is the net market value, or fair value, of assets where the actuary has considered that non-standard resilience factors are appropriate. This should only be used in rare cases. It is intended to cover situations where assets are disaggregated into (1) an identifiable sub-asset and (2) a residual that does not fit into any of the asset sectors specified by Life Insurance Prudential Standards for resilience purposes, or where a non-standard resilience risk has been modelled in accordance with Life Insurance Prudential Standards. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Solvency Prescribed Yield Adjustment Assets Non Standard Resillience Factors Amount Report the value of the Prescribed Yield Adjustment in relation to admissible cash assets with resilience requirement, as per the solvency standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible cash assets is the value of Cash and Liquid Assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Prescribed Yield Adjustment Cash Amount Report the value of the Prescribed Yield Adjustment in relation to the admissible value of tax assets with resilience requirement, as per the solvency standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. The admissible value of tax assets is the value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are those tax assets dependent on the ongoing conduct of business, for example tax losses that require future taxable income in order to be realised. Financial Risk Solvency Prescribed Yield Adjustment Deferred Tax Assets Amount Report the value of the Prescribed Yield Adjustment in relation to admissible equity investment securities with resilience requirement, as per the solvency standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible equity investment securities is the value of all equity investment securities consistent with the classification and measurement basis used for Investment Securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Prescribed Yield Adjustment Equities Amount Report the value of the Prescribed Yield Adjustment in relation to admissible indexed debt securities with resilience requirement, as per the solvency standard. Indexed debt securities pay an income stream that is dependent on an external factor. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible debt securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Prescribed Yield Adjustment Indexed IBS Amount Report the value of the Prescribed Yield Adjustment in relation to admissible Investment Property with resilience requirement, as per the solvency standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible Investment Property is the net market value of the entity's holdings of property investments as determined in accordance with the relevant accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. This includes investments in property by way of units in property trusts or other indirect investment methods as well as investments in real property (land and buildings). The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Prescribed Yield Adjustment Investment Property Amount Report the value of the Prescribed Yield Adjustment in relation to admissible loan assets with resilience requirement, as per the solvency standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible loan assets is the value of total Loans and Advances as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Prescribed Yield Adjustment Loans Amount Report the value of the Prescribed Yield Adjustment in relation to admissible non indexed debt securities with resilience requirement, as per the solvency standard. Non-indexed securities pay an income stream that is not dependent upon any external factor. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible debt securities is the value of all debt securities paying an income stream based upon an interest rate consistent with the classification and measurement basis used for investment securities in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Prescribed Yield Adjustment Non Indexed IBS Amount Report the value of the Prescribed Yield Adjustment in relation to admissible other investment assets with resilience requirement, as per the solvency standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible other investment assets is the value of the total assets acquired with the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Prescribed Yield Adjustment Other Investment Assets Amount Report the value of the Prescribed Yield Adjustment in relation to admissible other non-investment assets with resilience requirement, as per the solvency standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible other non-investment assets is the value of the total assets acquired without the intent to derive a gain either through an income stream or disposal, other than those categorised elsewhere, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Prescribed Yield Adjustment Other Non Investment Assets Amount Report the value of the Prescribed Yield Adjustment in relation to the admissible value of Gross Policy Liabilities ceded under reinsurance with resilience requirement, as per the solvency standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. The admissible value is the net market value as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. Financial Risk Solvency Prescribed Yield Adjustment Policy Liability Reinsurance Amount Report the value of the Prescribed Yield Adjustment in relation to admissible receivables with resilience requirement, as per the solvency standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Admissible receivables is the value of Total Receivables as determined in accordance with the accounting standards less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Prescribed Yield Adjustment Receivables Amount Report the value of the Prescribed Yield Adjustment in relation to total admissible assets with resilience requirement, as per the solvency standard. The Prescribed Yield Adjustment is an addition to the resilience reserves calculated using prescribed factors, after allowing for the beneficial implications for asset risks of diversification across asset sectors, as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Total admissible assets is the value of total assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. Financial Risk Solvency Prescribed Yield Adjustment Total Amount Report the ratio of the capital requirements reserve to the sum of the termination value (as per the solvency standard) and other liabilities. The Solvency Reserve Ratio should be calculated as: SR / Absolute(MTV + OL) where: SR = the amount reserved, including the amount of any investment linked risk margin (see below), in accordance with the relevant capital requirements standard MTV = the minimum termination value (net of reinsurance) excluding the amount of any investment linked risk margin (see below) OL = Other Liabilities - the total liabilities as determined in accordance with the relevant accounting standards, other than Policy Liabilities, Approved Eligible Subordinated Debt and Seed Capital. The minimum termination value (MTV) is determined by the prudential standards as the amount that a life insurer is obliged to pay to policyholders if they decided to voluntarily terminate their policies at the relevant date. The obligation might be contractual, statutory or a result of past practice. Calculated as the greater of: a) the lowest Termination Value that the reporting party is obliged to pay; and b) the amount calculated in accordance with the Surrender Value Standard. The investment linked (IL) risk margin reflects the additional risks that may be borne by the reporting party in conducting investment-linked business. Financial Risk Solvency Reserve Ratio Percent Report the value of any reserves established by the Actuary in relation to additional risks or costs that are not otherwise reflected in the prescribed requirements of the solvency standard, including any transitional adjustment required. Financial Risk Solvency Resilience Additional Risks Amount Report the value of the adjustment to resilience reserve recognising the potential release of resilience reserves from other statutory funds in accordance with the solvency standard. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Financial Risk Solvency Resilience Adjustment Amount Report the Credit Risk component of Resilience Reserve (RRCR), to be calculated as: RRCR = (L' / A") x (DELTA ACRY + DELTA ACRD) Where: L' = Liabilities adjusted for the prescribed yield change in the discount rate used in their valuation, in accordance with the solvency standard. A" = Adjusted value of admissible assets (see below); -ACRY = the value of the Credit Risk Yield Adjustment - an addition to the resilience reserves (see below) made in accordance with the solvency standards; and -ACRD = the value of the Credit Risk Default Adjustment - an addition to the resilience reserves (see below) calculated using the prescribed Credit Risk Default factors as set out in the solvency standards. Adjusted value of admissible assets is the value of total admissible assets with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the solvency standards. Total admissible assets is the value of total assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. Financial Risk Solvency Resilience Credit Risk Component Amount Report the total Resilience Reserve (RR) for all statutory funds under the worst scenario for this reporting party including any adjustment recognising the potential release of resilience reserves from other statutory funds in accordance with the solvency standard. Total Resilience Reserve (RR) is calculated as: RR = L' x [A / A"] - L; Where: A = Admissible Assets with a resilience requirement (see below) prior to prescribed change; L = Liabilities prior to prescribed change - the total liabilities as determined in accordance with the solvency prudential standard, for capital requirements purposes. L' = Liabilities adjusted for the prescribed yield change in the discount rate used in their valuation, in accordance with the solvency standard. A" = Adjusted value of admissible assets (see below); Adjusted value of admissible assets is the value of total admissible assets with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the solvency standards. Total admissible assets is the value of total assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. Financial Risk Solvency Resilience Net Amount Report the total Resilience Reserve (RR) for this reporting party, to be calculated as: RR = L' x [A / A'] ' L; Where: A = Admissible Assets with a resilience requirement (see below) prior to prescribed change; L = Liabilities prior to prescribed change - the total liabilities as determined in accordance with the solvency prudential standard, for capital requirements purposes. L' = Liabilities adjusted for the prescribed yield change in the discount rate used in their valuation, in accordance with the solvency standard. A' = Adjusted value of admissible assets (see below); Adjusted value of admissible assets is the value of total admissible assets with resilience requirement adjusted for: - Credit Risk Yield Changes; - Prescribed Yield Changes (allowing for diversification factor); - Adverse Exchange Movement factor; and - Credit Risk Default factors as determined in accordance with the solvency standards. Total admissible assets is the value of total assets as determined in accordance with the accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business; b) holdings in an associated or subsidiary entity which is a Financial Services entity; c) non-realisable (in the context of the solvency tests) intangible assets; d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing; e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; and f) amounts by which the recorded value of an asset exceeds its net realisable value. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them. Financial Risk Solvency Resilience Total Amount Report the surplus or deficit calculated as the difference between: a) The total assets as determined in accordance with the accounting standards; and b) The total capital requirement as determined in accordance with the solvency standard Financial Risk Solvency Surplus Or Deficit Amount Report the amount required under the solvency standard to ensure, as far as practicable, that, at any time, the financial position of each statutory fund of the reporting party is such that it will be able, out of the assets of the fund, to meet all policy and other liabilities referable to the fund at that time as they become due. Financial Risk Solvency Total Amount The code represents where the entity keeps its accounts solely or predominantly in a foreign currency (its applicable functional currency) and has elected to use that functional currency for its accounts which it then translates to Australian dollars (AUD). Miscellaneous Functional Currency Code The ID of the reporting consolidation of the entity. Miscellaneous Reporting Consolidation Identifier Code The name of the reporting consolidation of the entity. Miscellaneous Reporting Consolidation Name Text The optional part of the unique identifier for the reporting consolidation type. Miscellaneous Reporting Consolidation Sub Type Code The unique identifier for the reporting consolidation when combined with the reportingSub. Miscellaneous Reporting Consolidation Type Code