| LRF_430_0: Sources of Profit | ||||||||||||||||
| Effective date: 30 June 2020 | ||||||||||||||||
| Australian Business Number | Institution Name | |||||||||||||||
| Life Insurers and Friendly Societies | ||||||||||||||||
| Reporting Period | Scale Factor | |||||||||||||||
| Annual | Thousands | |||||||||||||||
| Reporting Consolidation | ||||||||||||||||
| Statutory fund | ||||||||||||||||
| 1. All statutory fund products | ||||||||||||||||
| 1.1. Life Insurance Act operating profit after income tax | ||||||||||||||||
| Components of experience profit or loss | ||||||||||||||||
| Class of business | Product group | Profit allocation | Investment earnings on assets in excess of policy liabilities | Profit margins emerging | Acquisition expenses | Maintenance expenses | Mortality (net of reinsurance) | Morbidity (net of reinsurance) | Surrender & discontinuance (incl. profits on terminated benefits) | |||||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | ||||||||||
| Australia - Ordinary Business | F1. Education | Policy Owner | ||||||||||||||
| Australia - Superannuation Business | F2. Investment Account | Shareholder | ||||||||||||||
| Overseas - All Business | F3. Annuity & Superannuation | |||||||||||||||
| F4. Defined Benefit Risk | ||||||||||||||||
| F5. Capital Guaranteed Defined Contribution Funeral | ||||||||||||||||
| F6. Investment Linked | ||||||||||||||||
| F7. Unallocated Benefit Fund Reserve | ||||||||||||||||
| F8. Members Capital & Retained Profit | ||||||||||||||||
| L1. Conventional Participating | ||||||||||||||||
| L2. Participating Investment Account | ||||||||||||||||
| 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 | ||||||||||||||||
| L13. Policy Owners Retained Profits | ||||||||||||||||
| L14. Shareholders Capital & Retained Profits | ||||||||||||||||
| Components of experience profit or loss | ||||||||||||||||
| Class of business | Product group | Profit allocation | Investment profits from current year earnings | Investment profits from change in assumed future net earned rates | Tax differences | Other items | Total experience profit or loss | |||||||||
| (8) | (9) | (10) | (11) | (12) | ||||||||||||
| Australia - Ordinary Business | F1. Education | Policy Owner | ||||||||||||||
| Australia - Superannuation Business | F2. Investment Account | Shareholder | ||||||||||||||
| Overseas - All Business | F3. Annuity & Superannuation | |||||||||||||||
| F4. Defined Benefit Risk | ||||||||||||||||
| F5. Capital Guaranteed Defined Contribution Funeral | ||||||||||||||||
| F6. Investment Linked | ||||||||||||||||
| F7. Unallocated Benefit Fund Reserve | ||||||||||||||||
| F8. Members Capital & Retained Profit | ||||||||||||||||
| L1. Conventional Participating | ||||||||||||||||
| L2. Participating Investment Account | ||||||||||||||||
| 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 | ||||||||||||||||
| L13. Policy Owners Retained Profits | ||||||||||||||||
| L14. Shareholders Capital & Retained Profits | ||||||||||||||||
| Class of business | Product group | Profit allocation | New business losses recognised | Loss recognition / reversal in respect of inforce business | Total capitalisation of loss / reversal of capitalised loss | Financial instrument profit | Management services profit | Change in valuation methods and assumptions | Total Life Insurance Act operating profit after income tax | Cumulative losses carried forward at the end of the Year | ||||||
| (13) | (14) | (15) | (16) | (17) | (18) | (19) | (20) | |||||||||
| Australia - Ordinary Business | F1. Education | Policy Owner | ||||||||||||||
| Australia - Superannuation Business | F2. Investment Account | Shareholder | ||||||||||||||
| Overseas - All Business | F3. Annuity & Superannuation | |||||||||||||||
| F4. Defined Benefit Risk | ||||||||||||||||
| F5. Capital Guaranteed Defined Contribution Funeral | ||||||||||||||||
| F6. Investment Linked | ||||||||||||||||
| F7. Unallocated Benefit Fund Reserve | ||||||||||||||||
| F8. Members Capital & Retained Profit | ||||||||||||||||
| L1. Conventional Participating | ||||||||||||||||
| L2. Participating Investment Account | ||||||||||||||||
| 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 | ||||||||||||||||
| L13. Policy Owners Retained Profits | ||||||||||||||||
| L14. Shareholders Capital & Retained Profits | ||||||||||||||||
| 2. Totals by class of business and profit allocation | ||||||||||||||||
| 2.1. Life Insurance Act operating profit after income tax | ||||||||||||||||
| Components of experience profit or loss | ||||||||||||||||
| Investment earnings on assets in excess of policy liabilities | Profit margins emerging | Acquisition expenses | Maintenance expenses | Mortality (net of reinsurance) | Morbidity (net of reinsurance) | Surrender & discontinuance (incl. profits on terminated benefits) | ||||||||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | ||||||||||
| 2.1.1. Australian business | ||||||||||||||||
| 2.1.1.1. Ordinary business | ||||||||||||||||
| 2.1.1.1.1. Policy owner | ||||||||||||||||
| 2.1.1.1.2. Shareholder | ||||||||||||||||
| 2.1.1.1.3. Total Australian - Ordinary Business | ||||||||||||||||
| 2.1.1.2. Superannuation business | ||||||||||||||||
| 2.1.1.2.1. Policy owner | ||||||||||||||||
| 2.1.1.2.2. Shareholder | ||||||||||||||||
| 2.1.1.2.3. Total Australian - Superannuation business | ||||||||||||||||
| 2.1.1.3. Total Australian business | ||||||||||||||||
| 2.1.1.3.1. Policy owner | ||||||||||||||||
| 2.1.1.3.2. Shareholder | ||||||||||||||||
| 2.1.1.3.3. Total Australian business | ||||||||||||||||
| 2.1.2. Overseas - All business | ||||||||||||||||
| 2.1.2.1. Policy owner | ||||||||||||||||
| 2.1.2.2. Shareholder | ||||||||||||||||
| 2.1.2.3. Total overseas - All business | ||||||||||||||||
| 2.1.3. Total statutory fund business | ||||||||||||||||
| 2.1.3.1. Policy owner | ||||||||||||||||
| 2.1.3.2. Shareholder | ||||||||||||||||
| 2.1.3.3. Total statutory fund business | ||||||||||||||||
| Components of experience profit or loss | ||||||||||||||||
| Investment profits from current year earnings | Investment profits from change in assumed future net earned rates | Tax differences | Other items | Total experience profit or loss | ||||||||||||
| (8) | (9) | (10) | (11) | (12) | ||||||||||||
| 2.1.1. Australian business | ||||||||||||||||
| 2.1.1.1. Ordinary business | ||||||||||||||||
| 2.1.1.1.1. Policy owner | ||||||||||||||||
| 2.1.1.1.2. Shareholder | ||||||||||||||||
| 2.1.1.1.3. Total Australian - Ordinary business | ||||||||||||||||
| 2.1.1.2. Superannuation business | ||||||||||||||||
| 2.1.1.2.1. Policy owner | ||||||||||||||||
| 2.1.1.2.2. Shareholder | ||||||||||||||||
| 2.1.1.2.3. Total Australian - Superannuation business | ||||||||||||||||
| 2.1.1.3. Total Australian business | ||||||||||||||||
| 2.1.1.3.1. Policy owner | ||||||||||||||||
| 2.1.1.3.2. Shareholder | ||||||||||||||||
| 2.1.1.3.3. Total Australian business | ||||||||||||||||
| 2.1.2. Overseas - All business | ||||||||||||||||
| 2.1.2.1. Policy owner | ||||||||||||||||
| 2.1.2.2. Shareholder | ||||||||||||||||
| 2.1.2.3. Total overseas - All business | ||||||||||||||||
| 2.1.3. Total statutory fund business | ||||||||||||||||
| 2.1.3.1. Policy owner | ||||||||||||||||
| 2.1.3.2. Shareholder | ||||||||||||||||
| 2.1.3.3. Total statutory fund business | ||||||||||||||||
| New business losses recognised | Loss recognition / reversal in respect of inforce business | Total capitalisation of loss / reversal of capitalised loss | Financial instrument profit | Management services profit | Change in valuation methods and assumptions | Total Life Insurance Act operating profit after income tax | Cumulative losses carried forward at the end of the Year | |||||||||
| (13) | (14) | (15) | (16) | (17) | (18) | (19) | (20) | |||||||||
| 2.1.1. Australian business | ||||||||||||||||
| 2.1.1.1. Ordinary business | ||||||||||||||||
| 2.1.1.1.1. Policy owner | ||||||||||||||||
| 2.1.1.1.2. Shareholder | ||||||||||||||||
| 2.1.1.1.3. Total Australian - Ordinary business | ||||||||||||||||
| 2.1.1.2. Superannuation business | ||||||||||||||||
| 2.1.1.2.1. Policy owner | ||||||||||||||||
| 2.1.1.2.2. Shareholder | ||||||||||||||||
| 2.1.1.2.3. Total Australian - Superannuation business | ||||||||||||||||
| 2.1.1.3. Total Australian business | ||||||||||||||||
| 2.1.1.3.1. Policy owner | ||||||||||||||||
| 2.1.1.3.2. Shareholder | ||||||||||||||||
| 2.1.1.3.3. Total Australian business | ||||||||||||||||
| 2.1.2. Overseas - All business | ||||||||||||||||
| 2.1.2.1. Policy owner | ||||||||||||||||
| 2.1.2.2. Shareholder | ||||||||||||||||
| 2.1.2.3. Total overseas - All business | ||||||||||||||||
| 2.1.3. Total statutory fund business | ||||||||||||||||
| 2.1.3.1. Policy owner | ||||||||||||||||
| 2.1.3.2. Shareholder | ||||||||||||||||
| 2.1.3.3. Total statutory fund business | ||||||||||||||||
