PET - Plain English Taxonomy

Attribute: BSAO22360
Concept:
Label: Net amount recoverable on reinsurance contracts
Concept Guidance:
This is the value, as at the relevant date, of reinsurance recoverables in relation to reinsurance contracts for both paid and outstanding claims against the reporting entity where the reporting entity has complied with the threshold levels of reinsurance documentation set out in the relevant prudential standards.Reinsurance recoverables are any amounts due to the reporting entity under a reinsurance arrangement that arise from paid claims and the recognition of Outstanding Claims Liabilities are in accordance with the relevant prudential standards. 
Dimensions
Dimension Member Description
(PastDueGT2ndBalDate)
This dimension classifies assets according to the likelihood of their full economic benefits being realised.
The data reported relates to amounts receivable that are outstanding on or from the second annual balance date after the date of the event giving rise to the receivable.
(Grade6)
This dimension categorises investments of the reporting entity according to the long-term and short-term credit rating grades of the counterparty as determined by various rating agencies.Long-term ratings. Rating Grade1: Standard & Poor's AAA; Moody's Aaa; AM Best Debt aaa; AM Best FSR A++; Fitch AAA;Rating Grade2: Standard & Poor's AA+, AA, AA-; Moody's Aa1, Aa2, Aa3; AM Best Debt aa+, aa, aa-; AM Best FSR A+; Fitch AA+, AA, AA-;Rating Grade3: Standard & Poor's A+, A, A-; Moody's A1, A2, A3; AM Best Debt a+, a, a-; AM Best FSR A, A-; Fitch A+, A, A-;Rating Grade4: Standard & Poor's BBB+, BBB, BBB-; Moody's Baa1, Baa2, Baa3; AM Best Debt bbb+, bbb, bbb-; AM Best FSR B++, B+; Fitch BBB+, BBB, BBB-;Rating Grade5: Standard & Poor's BB+, BB, BB- ; Moody's Ba1, Ba2, Ba3; AM Best Debt bb+, bb, bb-; AM Best FSR B, B-; Fitch BB+, BB, BB-;Rating Grade6: Standard & Poor's B+, B, B- ; Moody's B1, B2, B3; AM Best Debt b+, b, b-; AM Best FSR C++, C+, C, C-; Fitch B+, B, B-;Rating Grade7: Standard & Poor's Below B-; Moody's Below B3; AM Best Debt Below b-; AM Best FSR Below C-; Fitch CCC or Below;Short-term ratings.Rating Grade1: Standard & Poor's A+, AM Best AMB-1+; Fitch F1+;Rating Grade2: Standard & Poor's A1; Moody's P1; AM Best AMB-1; Fitch F1;Rating Grade3: Standard & Poor's A2; Moody's P2; AM Best AMB-2; Fitch F2;Rating Grade4: Standard & Poor's A3; Moody's P3; AM Best AMB-3; Fitch F3;Rating Grade6: Standard & Poor's B; Moody's NP Vulnerable; AM Best AMB-4; Fitch B;Rating Grade7: Standard & Poor's C; Moody's NP Currently Vulnerable; Fitch C;
The counterparty in relation to the reported information has a rating grade of 6.
(ReinsurerNotAPRAapproved)
This dimension categorises the reported information in accordance with the type of counterparty the entity has transacted with.
The counterparty in relation to the information is a Reinsurer that has not been approved by APRA.
(AustralianBusiness)
This dimension categorises the reported data according to the business locations determined in accordance with the relevant prudential standards.
The information reported is in relation to insurance business carried on (whether in Australia or elsewhere) by any Level 1 insurer within the group, or for entities which are not insurers within the Level 2 insurance group, business related to an entity incorporated in Australia.
(Australian)
This dimension is used to categorise reported information according to the jurisdictional reach to which that information relates.
Data reported is within the jurisdictional reach of Australia.