PET - Plain English Taxonomy

Attribute:	CS22979
Concept:	Income Insurance Life Premium Amount
Label:	Premium income
Concept Guidance:	This is the value, as at the relevant date, of premiums received from life insurance policies that are accounted for as insurance policy revenue.Include premiums in respect of deferred and immediate annuities that are life insurance business.Life insurance policies are contracts (policies) that will pay a specified sum to beneficiaries upon the death of the insured.An annuity is a periodic payment of a fixed or variable amount arising out of a contract obligation. Immediate annuities are those purchased with a single payment, where the income stream commences immediately. Deferred annuities are those where the income stream commences at some time in the future.

Dimensions

Dimension	Member	Description
CategoriesOfInsuranceBusinessDimension	(InvestmentLinkedBusiness)	This dimension is used to categorise the reported information into the applicable insurance business, as defined by the relevant prudential standards. The reported information is in relation to insurance business categorised as investment linked business.Investment linked business is defined in section 14 of the Life Insurance Act 1995.
ReinsuranceExpenseValueTypeDimension	(Gross)	This dimension identifies the valuation scenario, in relation to reinsurance expenses, under which the reported value was calculated. The information reported is in relation to the value that has been calculated before allowing for any adjustment to the value of the asset or liability in accordance with treatment permitted under accounting standards or prudential standards.
ReportingDateOffsetDimension	(RDMinus12M)	This dimension is used to report information based on an offset period relative to the reporting date. The date(s) relating to the reported information is/are exactly 12 months prior to the date(s) of the reporting period.For example, where the reporting date is 30 June XXX1, the information reported is as at 30 June XXX0.Where the reporting period is 1 January XXX1 to 30 June XXX1, the information reported relates to the period 1 January XXX0 to 30 June XXX0.