This is the value, as at the relevant date, of the sum of net premiums liabilities as determined in accordance with relevant accounting standards plus the value of the deficiency recognised in premium liability valuations due to the application of Liability Adequacy Test (LAT) as determined in accordance with relevant prudential standards.Net premiums liabilities is calculated as UPL - DAC - DRE + URL + other items, where:UPL = Unearned Premium Liability as determined in accordance with the relevant accounting standards.DAC = Deferred Acquisition Cost as determined in accordance with the relevant accounting standards.  This represents the portion of acquisition costs that relate to the unearned portion of premium revenue and which are capitalised as a result.DRE = Deferred Reinsurance Expense as determined in accordance with the relevant accounting standards.  This represents the portion of reinsurance expenses that relate to the unearned portion of premium revenue and which are capitalised as a result.URL = Unexpired Risk Liability as determined in accordance with the relevant accounting standards.Other items include anything else required under the relevant accounting standards to be included in the calculation of Net Premium Liabilities.