| LRF_400_0: Statement of Policy Liabilities | ||||||||||||||||
| 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. Policy liabilities - All statutory fund products | ||||||||||||||||
| 1.1. In force business and movements in gross contractual regular contributions over the year | ||||||||||||||||
| Class of business | Product group | Policy count (actual number, not scaled) | Member count (actual number, not scaled) | Gross insurance amount, account balance or equivalent | Reinsured insurance amount, account balance or equivalent | Gross contractual regular contributions | Reinsured contractual regular contributions | Gross contractual regular contribution increases over the year | Gross contractual regular contribution decreases due to claims and / or maturities | Gross contractual regular contribution decreases due to voluntary discontinuance | Other movements in Gross contractual regular contributions over the year | |||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||||
| Australia - Ordinary Business | F1. Education | |||||||||||||||
| Australia - Superannuation Business | F2. Investment Account | |||||||||||||||
| Overseas - All Business | F3. Annuity & Superannuation | |||||||||||||||
| F4. Defined Benefit Risk | ||||||||||||||||
| F5. Capital Guaranteed Defined Contribution Funeral | ||||||||||||||||
| F6. Investment Linked | ||||||||||||||||
| 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 | ||||||||||||||||
| 1.2. Components of gross policy liability | ||||||||||||||||
| Gross best estimate liability | ||||||||||||||||
| Class of business | Product group | Basis | Gross value of future policy benefits | Gross value of future expenses | Gross value of (balance of) future premiums | Gross reduction in respect of unrecouped acquisition expenses | Total gross best estimate liability | Gross value of future profits: policy owner bonuses | Gross value of future profits: shareholder profit margins | Gross investment contract liability | Gross management services asset or liability | Gross policy liability | ||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||||
| Australia - Ordinary Business | F1. Education | Last Year | ||||||||||||||
| Australia - Superannuation Business | F2. Investment Account | LY / TY | ||||||||||||||
| Overseas - All Business | F3. Annuity & Superannuation | This Year | ||||||||||||||
| F4. Defined Benefit Risk | ||||||||||||||||
| F5. Capital Guaranteed Defined Contribution Funeral | ||||||||||||||||
| F6. Investment Linked | ||||||||||||||||
| 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 | ||||||||||||||||
| 1.3. Components of reinsured policy liability and net policy liability | ||||||||||||||||
| Reinsured best estimate liability | ||||||||||||||||
| Class of business | Product group | Basis | Reinsured value of future policy benefits | Reinsured value of future expenses | Reinsured value of (balance of) future premiums | Reinsured reduction in respect of unrecouped acquisition expenses | Total reinsured best estimate liability | Reinsured value of future profits: policy owner bonuses | Reinsured value of future profits: s / h profit margins | Reinsured investment contract liability | Reinsured management services asset or liability | Reinsured policy liability | Net policy liability | |||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | (11) | ||||||
| Australia - Ordinary Business | F1. Education | Last Year | ||||||||||||||
| Australia - Superannuation Business | F2. Investment Account | LY / TY | ||||||||||||||
| Overseas - All Business | F3. Annuity & Superannuation | This Year | ||||||||||||||
| F4. Defined Benefit Risk | ||||||||||||||||
| F5. Capital Guaranteed Defined Contribution Funeral | ||||||||||||||||
| F6. Investment Linked | ||||||||||||||||
| 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 | ||||||||||||||||
| 1.4. Sundry items | ||||||||||||||||
| Class of business | Product group | Cost of previous year best estimate bonus | Cost of current period best estimate bonus | S / h profit margins on cost of current period best estimate bonus | Gross policy liability in respect of inwards reinsurance | Cost of declared bonus excl terminal, interim | Amount of terminal bonus paid | Amount of interim bonus paid | Accumulated loss recognition at beginning of period | Accumulated loss recognition at end of period | Profit carrier or acquisition expense recovery carrier | Percentage of profit carrier or acquisition expense recovery carrier | ||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | (11) | ||||||
| Australia - Ordinary Business | F1. Education | |||||||||||||||
| Australia - Superannuation Business | F2. Investment Account | |||||||||||||||
| Overseas - All Business | F3. Annuity & Superannuation | |||||||||||||||
| F4. Defined Benefit Risk | ||||||||||||||||
| F5. Capital Guaranteed Defined Contribution Funeral | ||||||||||||||||
| F6. Investment Linked | ||||||||||||||||
| 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 | ||||||||||||||||
| 2. Totals by class of business and basis | ||||||||||||||||
| 2.1. In force business and movements in gross contractual regular contributions over the year | ||||||||||||||||
| Policy count (actual number, not scaled) | Member count (actual number, not scaled) | Gross insurance amount, account balance or equivalent | Reinsured insurance amount, account balance or equivalent | Gross contractual regular contributions | Reinsured contractual regular contributions | Gross contractual regular contribution increases over the year | Gross contractual regular contribution decreases due to claims and / or maturities | Gross contractual regular contribution decreases due to voluntary discontinuance | Other movements in Gross contractual regular contributions over the year | |||||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||||
| 2.1.1. Australian business | ||||||||||||||||
| 2.1.1.1. Ordinary business | ||||||||||||||||
| 2.1.1.2. Superannuation business | ||||||||||||||||
| 2.1.1.3. Total Australian business | ||||||||||||||||
| 2.1.2. Overseas - All business | ||||||||||||||||
| 2.1.3. Total statutory fund business | ||||||||||||||||
| 2.2. Components of gross policy liability | ||||||||||||||||
| Gross best estimate liability | ||||||||||||||||
| Gross value of future policy benefits | Gross value of future expenses | Gross value of (balance of) future premiums | Gross reduction in respect of unrecouped acquisition expenses | Total gross best estimate liability | Gross value of future profits: policy owner bonuses | Gross value of future profits: shareholder profit margins | Gross investment contract liability | Gross management services asset or liability | Gross policy liability | |||||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |||||||
| 2.2.1. Australian business | ||||||||||||||||
| 2.2.1.1. Ordinary business | ||||||||||||||||
| 2.2.1.1.1. This year | ||||||||||||||||
| 2.2.1.1.2. LY / TY | ||||||||||||||||
| 2.2.1.1.3. Last year | ||||||||||||||||
| 2.2.1.2. Superannuation business | ||||||||||||||||
| 2.2.1.2.1. This year | ||||||||||||||||
| 2.2.1.2.2. LY / TY | ||||||||||||||||
| 2.2.1.2.3. Last year | ||||||||||||||||
| 2.2.1.3. Total Australian business | ||||||||||||||||
| 2.2.1.3.1. This year | ||||||||||||||||
| 2.2.1.3.2. LY / TY | ||||||||||||||||
| 2.2.1.3.3. Last year | ||||||||||||||||
| 2.2.2. Overseas - All business | ||||||||||||||||
| 2.2.2.1. This year | ||||||||||||||||
| 2.2.2.2. LY / TY | ||||||||||||||||
| 2.2.2.3. Last year | ||||||||||||||||
| 2.2.3. Total statutory fund business | ||||||||||||||||
| 2.2.3.1. This year | ||||||||||||||||
| 2.2.3.2. LY / TY | ||||||||||||||||
| 2.2.3.3. Last year | ||||||||||||||||
| 2.3. Components of reinsured policy liability and net policy liability | ||||||||||||||||
| Reinsured best estimate liability | ||||||||||||||||
| Reinsured value of future policy benefits | Reinsured value of future expenses | Reinsured value of (balance of) future premiums | Reinsured reduction in respect of unrecouped acquisition expenses | Total reinsured best estimate liability | Reinsured value of future profits: policy owner bonuses | Reinsured value of future profits: s / h profit margins | Reinsured investment contract liability | Reinsured management services asset or liability | Reinsured policy liability | Net policy liability | ||||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | (11) | ||||||
| 2.3.1. Australian business | ||||||||||||||||
| 2.3.1.1. Ordinary business | ||||||||||||||||
| 2.3.1.1.1. This year | ||||||||||||||||
| 2.3.1.1.2. LY / TY | ||||||||||||||||
| 2.3.1.1.3. Last year | ||||||||||||||||
| 2.3.1.2. Superannuation business | ||||||||||||||||
| 2.3.1.2.1. This year | ||||||||||||||||
| 2.3.1.2.2. LY / TY | ||||||||||||||||
| 2.3.1.2.3. Last year | ||||||||||||||||
| 2.3.1.3. Total Australian business | ||||||||||||||||
| 2.3.1.3.1. This year | ||||||||||||||||
| 2.3.1.3.2. LY / TY | ||||||||||||||||
| 2.3.1.3.3. Last year | ||||||||||||||||
| 2.3.2. Overseas - All business | ||||||||||||||||
| 2.3.2.1. This year | ||||||||||||||||
| 2.3.2.2. LY / TY | ||||||||||||||||
| 2.3.2.3. Last year | ||||||||||||||||
| 2.3.3. Total statutory fund business | ||||||||||||||||
| 2.3.3.1. This year | ||||||||||||||||
| 2.3.3.2. LY / TY | ||||||||||||||||
| 2.3.3.3. Last year | ||||||||||||||||
| 2.4. Sundry items | ||||||||||||||||
| Cost of previous year best estimate bonus | Cost of current period best estimate bonus | S / h profit margins on cost of current period best estimate bonus | Gross policy liability in respect of inwards reinsurance | Cost of declared bonus excl terminal, interim | Amount of terminal bonus paid | Amount of interim bonus paid | Accumulated loss recognition at beginning of period | Accumulated loss recognition at end of period | Profit carrier or acquisition expense recovery carrier | Percentage of profit carrier or acquisition expense recovery carrier | ||||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | (11) | ||||||
| 2.4.1. Australian business | ||||||||||||||||
| 2.4.1.1. Ordinary business | ||||||||||||||||
| 2.4.1.2. Superannuation business | ||||||||||||||||
| 2.4.1.3. Total Australian business | ||||||||||||||||
| 2.4.2. Overseas - All business | ||||||||||||||||
| 2.4.3. Total statutory fund business | ||||||||||||||||
