PET - Plain English Taxonomy

Attribute:	PL15230
Concept:	Expense Insurance Total Ultimate Cost Net Reinsurance And Non Reinsurance Recoveries Amount
Label:	Total Net Ultimate Cost (IUD)
Concept Guidance:	This is the value of the total net ultimate cost (inflated & undiscounted) of claims, as at the relevant date.This item represents the sum of: - net claims payment expenses incurred, as at the relevant date; - net case estimates, as at the relevant date; and - net claims incurred but not reported (IBNR)/incurred but not enough reported (IBNER), as at the relevant date;

Dimensions

Dimension	Member	Description
ClassOfBusinessDimension	(ReinsuranceBusiness)	This dimension is used to categorise information according to business activity. Report where the class of business relates to reinsurance contracts.Reinsurance contracts are insurance contracts where the policyholder is an insurer or reinsurer. Policyholder means a party that has a right to compensation under an insurance contract if an insured event occurs.
ContractArrangementDimension	(OI10812)	This dimension is used to categorise reported information according to the arrangements under the contract to which the data relates.
ProductGroupDimension	(OI10812)	This dimension categorises reported data according to predefined product groups.
UnderwritingYearDimension	(OI10818)	This dimension is used to categorise reported insurance information based on the underwriting year to which the data relates.Underwriting year refers to the financial year of the insurer in which the insurance policy incepts, regardless of when the premiums and claims are actually reported, booked or paid. For example, the 2005 underwriting year for an insurer with a 30 June balance date includes premiums and claims (both paid and outstanding) attaching to policies incepting in the period 1 July 2005 to 30 June 2006. For an insurer with a 31 December balance date, the 2005 underwriting year includes premiums and claims (both paid and outstanding) attaching to policies incepting in the period 1 January 2005 to 31 December 2005.