PET - Plain English Taxonomy

Attribute: PL05103
Concept:
Label: Reinsurance Recoveries Revenue relating to Current and Prior Years
Concept Guidance:
This is the value, for the duration of the relevant period, of revenue from reinsurance recoveries in respect of insurance claims. This item is to be determined in accordance with relevant accounting standards. 
Form-Specifc Guidance:
For 'Reinsurance Recoveries received (Cash flow basis)' purposes only:
Report the amount of reinsurance recoveries received over the reporting period (on a year-to-date basis).
Do not include reinsurance recoveries recognised on an accrual basis, as that is recognised in ‘Reinsurance recoveries revenue relating to current and prior years'.
This relates to all reinsurance recoveries received on a cash flow basis in the current financial year, regardless of the financial year in which the reinsurance recovery may have been recognised as revenue (i.e. a prior financial year).
Dimensions
Dimension Member Description
(Cash)
The accounting basis for income and expense recognition - cash or accruals.
Income and expenses are recognised when Received or Paid.
(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.