| LRF_200_0: Capital Adequacy Supplementary Information | ||||||||||||
| Effective date: 1 July 2016 | ||||||||||||
| Australian Business Number | Institution Name | |||||||||||
| Life insurers | ||||||||||||
| Reporting Period | Scale Factor | |||||||||||
| Quarterly / Annual | Thousands | |||||||||||
| Reporting Consolidation | ||||||||||||
| Statutory fund | ||||||||||||
| Section 1: Capital base - Liability adjustments | ||||||||||||
| 1. Past premium liabilities | ||||||||||||
| Pre-insurance stress | ||||||||||||
| Product group | Annuity and investment liability value | CICP Reserve | RBNA Reserve | IBNR Reserve | Unearned premium reserve | Total past premium liabilities | ||||||
| (1) | (2) | (3) | (4) | (5) | (6) | |||||||
| L3. Annuity with Longevity Risk | ||||||||||||
| L4. Individual Lump Sum Risk | ||||||||||||
| L5. Individual Disability Income Insurance | ||||||||||||
| L6. Group Lump Sum Risk | ||||||||||||
| L7. Group Disability Income Insurance | ||||||||||||
| L8. Investment Linked | ||||||||||||
| L10. Other Non-par Investment Policy | ||||||||||||
| L11. Annuity without Longevity Risk | ||||||||||||
| L12. Other | ||||||||||||
| Post-insurance stress | ||||||||||||
| Product group | Annuity and investment liability value | CICP Reserve | RBNA Reserve | IBNR Reserve | Unearned premium reserve | Stressed past premium liabilities | ||||||
| (7) | (8) | (9) | (10) | (11) | (12) | |||||||
| L3. Annuity with Longevity Risk | ||||||||||||
| L4. Individual Lump Sum Risk | ||||||||||||
| L5. Individual Disability Income Insurance | ||||||||||||
| L6. Group Lump Sum Risk | ||||||||||||
| L7. Group Disability Income Insurance | ||||||||||||
| L8. Investment Linked | ||||||||||||
| L10. Other Non-par Investment Policy | ||||||||||||
| L11. Annuity without Longevity Risk | ||||||||||||
| L12. Other | ||||||||||||
| 2. Future premium liabilities | ||||||||||||
| Pre-insurance stress | ||||||||||||
| As at reporting date | As at 12 months after reporting date | |||||||||||
| (Discounted to reporting date) | (Discounted to reporting date) | |||||||||||
| Product group | Risk-free present value of future claims | Risk-free present value of future expenses | Risk-free present value of future premiums | Risk-free present value of other liability components | Total future premium liabilities | Risk-free present value of tax expenses | Risk-free present value of net profit | Risk-free present value of future claims | Risk-free present value of future expenses | Risk-free present value of future premiums | Risk-free present value of other liability components | Total future premium liabilities |
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | (11) | (12) | |
| L3. Annuity with Longevity Risk | ||||||||||||
| L4. Individual Lump Sum Risk | ||||||||||||
| L5. Individual Disability Income Insurance | ||||||||||||
| L6. Group Lump Sum Risk | ||||||||||||
| L7. Group Disability Income Insurance | ||||||||||||
| L8. Investment Linked | ||||||||||||
| L10. Other Non-par Investment Policy | ||||||||||||
| L11. Annuity without Longevity Risk | ||||||||||||
| L12. Other | ||||||||||||
| Post-insurance stress | ||||||||||||
| As at reporting date | As at 12 months after reporting date | |||||||||||
| (Discounted to reporting date) | (Discounted to reporting date) | |||||||||||
| Product group | Risk-free present value of future claims | Risk-free present value of future expenses | Risk-free present value of future premiums | Risk-free present value of other liability components | Stressed future premium liabilities | Risk-free present value of future claims | Risk-free present value of future expenses | Risk-free present value of future premiums | Risk-free present value of other liability components | Stressed future premium liabilities | ||
| (13) | (14) | (15) | (16) | (17) | (18) | (19) | (20) | (21) | (22) | |||
| L3. Annuity with Longevity Risk | ||||||||||||
| L4. Individual Lump Sum Risk | ||||||||||||
| L5. Individual Disability Income Insurance | ||||||||||||
| L6. Group Lump Sum Risk | ||||||||||||
| L7. Group Disability Income Insurance | ||||||||||||
| L8. Investment Linked | ||||||||||||
| L10. Other Non-par Investment Policy | ||||||||||||
| L11. Annuity without Longevity Risk | ||||||||||||
| L12. Other | ||||||||||||
| 3. Components of adjusted policy liabilities | ||||||||||||
| Product group | Total past premium liabilities | Premium refund in excess of UPR | Other components of termination value | Total termination value | Total future premium liabilities | Risk-free best estimate of liabilities | ||||||
| (1) | (2) | (3) | (4) | (5) | (6) | |||||||
| L3. Annuity with Longevity Risk | ||||||||||||
| L4. Individual Lump Sum Risk | ||||||||||||
| L5. Individual Disability Income Insurance | ||||||||||||
| L6. Group Lump Sum Risk | ||||||||||||
| L7. Group Disability Income Insurance | ||||||||||||
| L8. Investment Linked | ||||||||||||
| L10. Other Non-par Investment Policy | ||||||||||||
| L11. Annuity without Longevity Risk | ||||||||||||
| L12. Other | ||||||||||||
| Section 2: Insurance risk charge | ||||||||||||
| 1. Impact of stress margins - participating benefits business | ||||||||||||
| Valuation date | ||||||||||||
| Pre-diversification | ||||||||||||
| Mortality | Morbidity | |||||||||||
| Product group | Random | Future | Random | Future | Event | Longevity | Total stress by product group | Total stress by product group Post-diversification | ||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | |||||
| L1 - Conventional Participating | ||||||||||||
| L2 - Participating Investment Account | ||||||||||||
| L12 - Other | ||||||||||||
| 2. Impact of stress margins - non-participating benefits business | ||||||||||||
| Valuation date | ||||||||||||
| Pre-diversification | ||||||||||||
| Mortality | Morbidity | |||||||||||
| Product group | Random | Future | Random | Future | Event | Longevity | Total stress by product group | Total stress by product group Post-diversification | ||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | |||||
| L3 - Annuity with Longevity Risk | ||||||||||||
| L4 - Individual Lump Sum Risk | ||||||||||||
| L5 - Individual Disability Income Insurance | ||||||||||||
| L6 - Group Lump Sum Risk | ||||||||||||
| L7 - Group Disability Income Insurance | ||||||||||||
| L8 - Investment-linked | ||||||||||||
| L9 - Non-par Investment Policy with Discretionary Additions | ||||||||||||
| L10 - Other non-par Investment Policy | ||||||||||||
| L11 - Annuity without Longevity Risk | ||||||||||||
| L12 - Other insured contingencies | ||||||||||||
| 3. Total impact of stress margins | ||||||||||||
| Pre-diversification | ||||||||||||
| Mortality | Morbidity | |||||||||||
| Random | Future | Random | Future | Event | Longevity | Total stress by product group | Total stress by product group Post-diversification | |||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | |||||
| Total participating benefits business | ||||||||||||
| Total non-participating benefits business | ||||||||||||
| Total | ||||||||||||
| 3.1. Insurance stress diversification factor | ||||||||||||
| Section 3: Variable annuities | ||||||||||||
| 1. Variable annuity capital charge calculation | ||||||||||||
| 1.1. Capital requirement (excluding hedging) | ||||||||||||
| 1.2. Capital requirement (including hedging) | ||||||||||||
| 1.3. Diversification factor between asset and insurance risks | ||||||||||||
| 1.4. Effectiveness factor | ||||||||||||
| 1.5. Aggregate risk charge for variable annuities | ||||||||||||
