Financial Performance 3 Report benefits paid or payable for death and/or disability claims, including current period bonus and any interim or terminal bonuses included in claims amounts. Bonus is the annual 'profit' amount allocated to traditional whole of life and endowment policies which are 'participating'. This amount represents the policies' participation in earnings, and is normally declared as a percentage of the sum insured and existing bonuses. Participating policies are those life insurance policies that participate in the surplus or profits of the fund through declared bonuses. Expense Insurance Claim Death Disability Amount Report benefits paid or payable as withdrawal of any deposit elements for death and/or disability claims on life investment business. Expense Insurance Claim Death Disability Deposit Component Amount Report the value of inwards reinsurance claims expense (including current year bonus). This is the value of claims against policies for which the reporting party has accepted the liability from another insurer or reinsurer. Inwards reinsurance claims expense should be gross of retrocession recoveries. Include bonuses paid to the insurer or reinsurer as a distribution of current year profit. Retrocession is reinsurance by a reinsurer of part, or all, of a risk ceded to them by another insurer or reinsurer. Expense Insurance Claim Inwards Reinsurance Amount Report benefits paid or payable as withdrawal of any deposit elements for inwards reinsurance claims, gross of any retrocession recoveries. Retrocession is reinsurance by a reinsurer of part, or all, of a risk ceded to them by another insurer or reinsurer. Expense Insurance Claim Inwards Reinsurance Deposit Component Amount Report the value of all fixed costs plus variable expenses incurred in relation to maintaining existing business other than commissions and other incremental insurance related costs. Expense Insurance Customer Retention Other Amount Report expenses incurred directly with policy holders for general insurance policies. General insurance policies are all insurance business other than Life and Health insurance. Life insurance policies are contracts (policies) that will pay a specified sum to beneficiaries upon the death of the insured. Health insurance policies are contracts (policies) that will pay a specified sum to beneficiaries in relation to healthcare expenses of the insured. Expense Insurance General Amount Report any withdrawal of deposit elements corresponding to general insurance policies. General insurance policies are all insurance business other than Life and Health insurance. Life insurance policies are contracts (policies) that will pay a specified sum to beneficiaries upon the death of the insured. Health insurance policies are contracts (policies) that will pay a specified sum to beneficiaries in relation to healthcare expenses of the insured. Expense Insurance General Deposit Component Amount Report benefits paid or payable for claims due to maturity of policy. Policy maturity is where the agreed end date of the contract has been reached. Expense Insurance Maturity Amount Report benefits paid or payable as withdrawal of any deposit elements for maturity claims on life investment business. Policy maturity is where the agreed end date of the contract has been reached. Expense Insurance Maturity Deposit Component Amount This item is to be reported as the numerical result: Net Policy Liabilities at end of relevant period, less Net Policy Liabilities at beginning of relevant period; thus if net policy liabilities increased the result is an expense, while if they decreased the result is a negative expense. It is to be reported inclusive of inwards reinsurance and net of outwards reinsurance at beginning and end of relevant period. Expense Insurance Net Policy Liability Movement Amount This is a subtotal of items on APRA forms LRF310.1 and LRF310.2 Report the total operating expenses classified in accordance with the requirements of these forms as: - policy acquisition and maintenance expenses; - investment management expenses; - acquisition expenses reported as movement in policy liability; - other administration expenses; - interest expenses; and - general insurance expenses. Expense Insurance Operating Expenses LRF310 Amount This is the balancing item in the list in which it is being used. Report all operating expenses other than; - policy acquisition and maintenance; - investment management expenses; - interest expense; - general insurance operating expenses; and - acquisition expenses reported as movement in policy liability. Expense Insurance Operating Other Amount This is a balancing item in the list in which it is being used. Report the value of expenses as determined in accordance with the Life Insurance Act other than expenses in relation to - insurance policy expense; - operating expenses; - movement in net policy liabilities and adjustments thereto; and - changes in policy owner retained profits. Expense Insurance Other Amount This is a balancing item in the list in which it is being used. Report the value of claims expenses other than those specifically categorised in accordance with the requirements of APRA form LRF310 as: - Death and Disability Claims; - Maturities; - Annuities; - Surrenders and Terminations; or - Outwards Policy Conversions. Expense Insurance Other Claims Amount Report deposit elements for life investment and life insurance investment account business written as outwards reinsurance - i.e. exclude any revenue components. Include the deposit component of premiums in respect of deferred or immediate annuities that are life investment business written as outwards reinsurance. Expense Insurance Outward Reinsurance Premium Deposit Component Amount Report the value of total payments to policy holders and net reinsurance claims. This does not include expenses paid to parties other than policyholders and reinsurers. Expense Insurance Payouts Net Of Reinsurance Amount Report the value of all fixed costs incurred when acquiring new business and all variable costs other than those related to commissions and other incremental expenses incurred in relation to new insurance business. Expense Insurance Policy Acquisition Other Amount Report the total value of outward (claim) side of conversions between statutory funds. Exclude deposit components. Deposit components are to be recognised and measured as per the accounting standards. Expense Insurance Policy Conversions Outwards Amount Report the value of the deposit (investment component) elements of Conversions out of this statutory fund. Life insurance policies are contracts (policies) that will pay a specified sum to beneficiaries upon the death of the insured. Expense Insurance Policy Conversions Outwards Deposit Component Amount Report the value of the adjustment to the movement in net policy liabilities attributable to policy expenses recognised as a withdrawal of deposit or change in policy liability in respect of other policy acquisition expenses. This is the value of all fixed costs incurred when acquiring new business and all variable costs other than those related to commissions and other incremental expenses incurred in relation to new insurance business. Expense Insurance Policy Expense Acquisition Other Amount Report benefits paid or payable in relation to the surrender or early termination of a policy, i.e. where the policy is ended by either party prior to the maturity date. Where no amount would be paid, the value to be reported is the discounted present value of the unexpired risks, future payments and/or contractual premium refunds. Expense Insurance Surrender And Termination Amount Report benefits paid or payable as withdrawal of any deposit elements for surrender and/or termination benefits on life investment business, i.e. where the policy is ended by either party prior to the maturity date. Expense Insurance Surrender And Termination Deposit Component Amount Report the total value of policy expenses recognised as a withdrawal of the deposit (investment) component or change in policy liability, net of reinsurance. Expense Insurance Total Deposit Component Amount Report all Acquisition Costs as recognised under Australian Accounting Standards incurred during the reporting period. Acquisition costs are incurred in obtaining and recording new business contracts. They include commission or brokerage paid to agents or brokers for obtaining business for the reporting party, selling and underwriting costs such as advertising and risk assessment, the administrative costs of accepting, issuing and initially recording the new business. Expense Prospective Underwriting Acquisition Costs Amount Report the value of outwards reinsurance claims revenue. This is the value of claims against policies for which the reporting party has ceded the liability to a reinsurer. Income Insurance Claim Outwards Reinsurance Amount Report the deposit (investment) component value of outwards reinsurance claims received. This is the value of the deposit (investment) component of claims against insurance investment policies for which the reporting party has ceded the liability to a reinsurer. Income Insurance Claim Outwards Reinsurance Deposit Component Amount This is the balancing item in the list in which it is being used. Report the value of fees for management services rendered by the reporting party during the relevant period other than; - premium related fees revenue; and - fees reported as movement in policy liabilities. Income Insurance Fees Other Amount Report the deposit (investment) component of premiums received from general insurance policies. General insurance policies are all insurance business other than Life and Health insurance. Life insurance policies are contracts (policies) that will pay a specified sum to beneficiaries upon the death of the insured. Health insurance policies are contracts (policies) that will pay a specified sum to beneficiaries in relation to healthcare expenses of the insured. Income Insurance General Premium Direct Deposit Component Amount Report premiums received from general insurance policies that are accounted for as Insurance Policy Revenue. The revenue components of amounts contractually received or receivable for insurance policies should be shown net of outwards reinsurance expense. General insurance policies are all insurance business other than Life and Health insurance. Life insurance policies are contracts (policies) that will pay a specified sum to beneficiaries upon the death of the insured. Health insurance policies are contracts (policies) that will pay a specified sum to beneficiaries in relation to healthcare expenses of the insured. Income Insurance General Premium Gross Amount Report the value of investment income, including realised and unrealised capital gains/losses associated with the entity's investments. Capital gains/losses are realised where the entity disposed of an asset during the relevant period. If an asset has not been disposed of during the relevant annual period, then any gains or losses recognised as the difference between the acquisition cost of the asset and the market value are unrealised. Income Insurance Investment Amount Report deposit elements for life investment and life insurance investment account business written as inwards reinsurance - i.e. exclude any revenue components. Show amounts gross of outwards (retrocession) reinsurance. Include the deposit component of premiums in respect of deferred or immediate annuities that are life investment business written as inwards reinsurance. Income Insurance Inwards Reinsurance Premium Deposit Component Amount Report the inward premium (received) elements of life policy conversions between statutory funds. Exclude deposit (investment) components of premiums. Life insurance policies are contracts (policies) that will pay a specified sum to beneficiaries upon the death of the insured. Income Insurance Life Policy Conversion Amount Report the value of the deposit (investment component) elements of Conversions into this statutory fund. Life insurance policies are contracts (policies) that will pay a specified sum to beneficiaries upon the death of the insured. Income Insurance Life Policy Conversion Deposit Component Amount Report the deposit components of regular and single premiums received or receivable for life investment and life insurance investment account business written directly - i.e. exclude any revenue components. Show amounts gross of outwards reinsurance, but exclude amounts for inwards reinsurance. Include the deposit component of premiums in respect of deferred or immediate annuities that are life investment business. Life insurance policies are contracts that will pay a specified sum to beneficiaries upon the death of the insured. An annuity is a periodic payment of a fixed or variable amount arising out of a contract obligation. Immediate annuities are those purchased with a single payment, where the income stream commences immediately. Deferred annuities are those where the income stream commences at some time in the future. Direct premiums are those collected by an insurer directly from the insured. Income Insurance Life Premium Direct Deposit Component Amount Report premiums received from life insurance policies that are accounted for as Insurance Policy Revenue. The revenue components of amounts contractually received or receivable for insurance policies are gross of outwards reinsurance expenses. Include premiums in respect of deferred and immediate annuities that are life insurance business. Life insurance policies are contracts (policies) that will pay a specified sum to beneficiaries upon the death of the insured. An annuity is a periodic payment of a fixed or variable amount arising out of a contract obligation. Immediate annuities are those purchased with a single payment, where the income stream commences immediately. Deferred annuities are those where the income stream commences at some time in the future. Direct premiums are those collected by an insurer directly from the insured. Excludes inwards reinsurance premiums. Income Insurance Life Premium Direct Gross Amount Report investment income derived from other investment assets. Investment income does not include realised and unrealised capital gains/losses. Other investment assets are all assets classified as investment assets other than: - cash; - property; - equities; and - debt. Income Insurance Other Amount Report total revenue, as determined in accordance with the Life Act, other than: - investment revenue; - fees for management services rendered; and - insurance policy revenue. Income Insurance Other Life Act Amount Report the value, for the duration of the relevant period, of premium revenue. This item is to be determined in accordance with the relevant accounting standards. This item is net of any associated outwards reinsurance expense. Income Insurance Premium Net Of Reinsurance Amount Report the total deposit (investment) component of premiums received from all insurance investment policies, net of reinsurance. Income Insurance Premium Net Of Reinsurance Deposit Component Amount Represents members' total death and/or disability insurance premiums paid or payable during the reporting period less any rebates received in respect of those premiums. Insurance Expense Premium Members Death Disabilty Net Amount Report the value of the effective movement in net policy liabilities, calculated as: - increase/(decrease) in net policy liabilities; - less deposits received; - plus withdrawals of deposits; - plus non-premium related fees for management services (which would otherwise be recognised as a reduction in policy liabilities); - plus movements in the liability for deferred fee revenue (which are reported as part of Fees for Management Services Rendered but would otherwise result in a change in policy liabilities for Investment Contracts); - less movements in the liability for deferred acquisition costs (which are reported as part of Operating Expenses but would otherwise result in a change in policy liabilities for Investment Contracts). Insurance Net Policy Liabilities Effective Movement Amount Report the value of the adjustment to the movement in net policy liabilities attributable to policy expenses recognised as a withdrawal of deposit or change in policy liability in respect of all claims other than: - death and disability claims; - maturities; - annuities; - surrenders and terminations; and - outwards policy conversions. Insurance Policy Expense Claims Other Amount Report the net movement in the value of policy owner retained profits. Policy owner retained profits represent the value of profits allocated to participating policy owners generally, but not yet vested as specific amounts to particular policies. Insurance Policy Owner Retained Profits Net Movement Amount Report the value of the profit and loss for the relevant period after tax attributable to owners as recognised and measured in accordance with Life Insurance Act 1995. Profit Or Loss Insurance After Income Tax Attributable To Company Members Net Life Act Amount This is a balancing item in the list in which it is being used. Report the value of components of experience profit or loss related to Life Investment Contracts (as defined in the accounting standards) that have not been specifically categorised elsewhere on APRA form LRF430. The total Experience Profit or Loss is the profit or loss arising in the period from differences between the actual experience during the period and the expected experience on the basis of the Best Estimate Assumptions at the beginning of the period. Profit Or Loss Insurance Components Experience Profit Loss Other Amount Report the Acquisition Expenses component of the Experience Profit or Loss for the period. The total Experience Profit or Loss is the profit or loss arising in the period from differences between the actual experience during the period and the expected experience on the basis of the Best Estimate Assumptions at the beginning of the period. Acquisition Expenses are the fixed and variable expenses of the reporting party to the extent they are, either directly or indirectly, referable to those activities of the reporting party related to the acquiring of that new business expected to derive from the expenditure. Include any profit arising from a situation where establishment fee revenue is greater than acquisition expenses, and the surplus is not required to support future expense. Best Estimate Assumptions are assumptions about future experience determined in accordance with relevant actuarial valuation standards. Profit Or Loss Insurance Experience Acquisition Expense Amount Report the changes to the Experience Profit or Loss for the period in relation to the surrender or early termination of a policy, i.e. where the policy is ended by either party prior to the maturity date. The total Experience Profit or Loss is the profit or loss arising in the period from differences between the actual experience during the period and the expected experience on the basis of the Best Estimate Assumptions at the beginning of the period. Best Estimate Assumptions are assumptions about future experience determined in accordance with relevant actuarial valuation standards. Profit Or Loss Insurance Experience Discontinuance Amount Report the movement in profit and loss due to changes in assumptions about earning rates on assets backing policy liabilities for the relevant period. Profit Or Loss Insurance Experience Earning Rates Amount Report the Maintenance Expenses component of the Experience Profit or Loss for the period. The total Experience Profit or Loss is the profit or loss arising in the period from differences between the actual experience during the period and the expected experience on the basis of the Best Estimate Assumptions at the beginning of the period. Maintenance Expenses are the fixed and variable expenses of the reporting party to the extent they are, either directly or indirectly, referable to those activities of the reporting party related to the administration of (a) policies subsequent to their sale, including policies subject to claim; and (b) the general operations, including maintenance of the overall health of the reporting party. Best Estimate Assumptions are assumptions about future experience determined in accordance with relevant actuarial valuation standards. Profit Or Loss Insurance Experience Maintenance Expense Amount Report the changes to the Experience Profit or Loss for the period in relation to Morbidity, net of reinsurance. The total Experience Profit or Loss is the profit or loss arising in the period from differences between the actual experience during the period and the expected experience on the basis of the Best Estimate Assumptions at the beginning of the period. Morbidity component is related to the likelihood of policy owners being unable to work for a period of time as a result of accident or illness. Best Estimate Assumptions are assumptions about future experience determined in accordance with relevant actuarial valuation standards. Profit Or Loss Insurance Experience Morbidity Amount Report the changes to the Experience Profit or Loss for the period in relation to Mortality, net of reinsurance. The total Experience Profit or Loss is the profit or loss arising in the period from differences between the actual experience during the period and the expected experience on the basis of the Best Estimate Assumptions at the beginning of the period. Mortality component is related to the likelihood of the death of policy owners. Best Estimate Assumptions are assumptions about future experience determined in accordance with relevant actuarial valuation standards. Profit Or Loss Insurance Experience Mortality Amount Report the movement in profit and loss due to changes in assumptions other than earning rates on assets backing policy liabilities for the relevant period. Profit Or Loss Insurance Experience Non Earning Rates Amount Report the movement in profit and loss due to changes in assumptions about tax rates on earnings on assets backing policy liabilities for the relevant period. Profit Or Loss Insurance Experience Tax Rates Amount The total Experience Profit or Loss is the profit or loss arising in the period from differences between the actual experience during the period and the expected experience on the basis of the Best Estimate Assumptions at the beginning of the period. Profit Or Loss Insurance Experience Total Amount Financial Instrument Profit is determined as the sum of all cash flows relating to the financial instrument element of Life Investment Contracts (as per the Australian Accounting Standards). This includes investment earnings on the underlying assets, less the change in the value of the Life Investment Contract Liability. Essentially, any profit arising from changes in fair values of Financial Instruments that are not matched by changes in fair values of the underlying assets. Profit Or Loss Insurance Financial Instrument Component Amount Report the amount of interest (investment earnings) on Retained Profits as per prudential standards Profit Or Loss Insurance Interest On Retained Profits Amount This value relates to the recognition or reversal of losses during the relevant period which is not otherwise absorbed in profit margins. Profit Or Loss Insurance Loss Recognition Amount Management Services Profit is determined as the sum of all cash flows relating to the management service element of Life Investment Contracts (as per Australian Accounting Standards), plus/(less) the change in the value of any asset/(liability) arising in respect of the management services element. Essentially fees less expenses for that component of the business, where fees include changes in deferred fee revenue and expenses include changes in deferred acquisition costs. Profit Or Loss Insurance Management Services Component Amount Report the value of the operating profit and loss for the relevant period after tax attributable to owners as recognised and measured in accordance with Life Insurance Act 1995. This is derived from the net profit or loss for the period as per the life act after adding back profit allocations, such as bonuses and movements in policy owner retained profits or unallocated benefit fund reserves. Profit Or Loss Insurance Operating After Tax Amount Report realised and unrealised capital gains/losses derived from other investment assets. Other investment assets are all assets classified as investment assets other than: - property; - equities; and - debt. Profit Or Loss Insurance Other Amount Report the total reconcilliation adjustment between operating profit after tax as per general purpose accounts and the operating profit after tax as per the Life Act. Profit Or Loss Insurance Reconcilliation Adjustment General Purpose Life Act Amount