PET - Plain English Taxonomy

Attribute: R12245
Concept:
Label: Central Estimate of Expected Reinsurance Recoveries
Concept Guidance:
This is the value, as at the relevant date, of the central estimate of expected reinsurance recoveries receivable by the reporting entity associated with the premiums liabilities. This item is to be determined in accordance with relevant prudential standards. The central estimate will be measured as the present value of the future expected reinsurance recoveries, i.e. discounted for future investment income, determined in accordance with relevant prudential standards. The central estimate is intended to reflect the mean value in the range of possible values for the outcome (that is, the mean of the distribution of probabilistic outcomes), and so does not include any risk margin.Expected reinsurance recoveries means any amounts due to an insurer, or to an entity that carries on international business within a Level 2 insurance group, from a reinsurer that arise from the recognition of premiums liabilities referred to in the GI Prudential Standards. This is distinguished from reinsurance recoverables. 
Dimensions
Dimension Member Description
(Gross)
This dimension categorises the reported data according to the accounting valuation scenario, in relation to impairment, under which the reported value was calculated.
The information reported is in relation to the value of the asset or liability before allowing for the relevant adjustments.
(Prudential)
This dimension represents the basis used for the reported information.
This information relates to the prudential basis of preparation.
(DirectBusiness)
This dimension is used to categorise information according to business activity.
Report where the class of business relates to direct insurance contracts.Insurance contracts are classified as 'direct' when the reporting party has a contract directly with a policyholder that is not an insurer or reinsurer. Policyholder means a party that has a right to compensation under an insurance contract if an insured event occurs.
This dimension categorises reported data according to predefined product groups.