PET - Plain English Taxonomy

Attribute: E15170
Concept:
Label: Net reinsurance recoverable on paid claims overdue for more than 6 months - central estimate
Concept Guidance:
This is the value, as at the relevant date, of reinsurance recoverables, that is net of provisions for doubtful debts, in relation to reinsurance contracts for claims paid by the reporting party.Reinsurance recoverables are any amounts due to the reporting party under a reinsurance arrangement that arise from the recognition of Outstanding Claims Liabilities in accordance with capital and prudential standards. 
Form-Specifc Guidance:
The reported data represents at least 95 per cent of the sum of the regulated institution’s total central estimate of reinsurance recoverables (including recoverables on paid claims overdue for more than six months and recoverables outstanding from the second annual balance date after the event) and deferred reinsurance expense.
Dimensions
Dimension Member Description
(PastDueMoreThan6Months)
This dimension classifies assets according to the likelihood of their full economic benefits being realised.
The data reported relates to amounts receivable that are more than 6 months past due.
This dimension categorises the reported information by the country of residence/location of the counterparty from whom the reporting party directly derives its return on investment in the financial asset and on whom the reporting party has the primary claim when liquidating the asset.  Residence/location is determined by where the entity is permanently located, physically and/or by way of law or registration, inside or outside a country's borders.  Foreign branches or subsidiaries are classified as residents of the country in which they operate.
This dimension categorises the long-term and short-term credit rating grades of the counterparty of collateral or guarantee 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;
This information represents the domicile where the group owning the counterparty is legally incorporated.
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 reported information relates to the type of collateral or guarantee that has the greatest monetary exposure.
This dimension allows organisation name and where available group name to be used.
(CentralEstimate)
This dimension categorises information by the distribution of probabilistic outcomes.
The information relates to the Central Estimate, 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). This does not include any risk margin.
This information represents the reinsurer identifier provided by Australian Prudential Regulation Authority (APRA). If the reinsurer is not on APRA's reinsurer identifier list, report the reinsurer as 'unassigned'.