Label: |
Effective movement in net policy liabilities |
Concept Guidance: |
Report the value of the effective movement in net policy liabilities, calculated as:- increase/(decrease) in net policy liabilities;- less deposits received;- plus withdrawals of deposits;- plus non-premium related fees for management services (which would otherwise be recognised as a reduction in policy liabilities);- plus movements in the liability for deferred fee revenue (which are reported as part of Fees for Management Services Rendered but would otherwise result in a change in policy liabilities for Investment Contracts);- less movements in the liability for deferred acquisition costs (which are reported as part of Operating Expenses but would otherwise result in a change in policy liabilities for Investment Contracts).
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