PET - Plain English Taxonomy

Label: Assets Investment Securities And Or Insurance Policies Held In Life Companies Amount
Data Type: xbrli:monetaryItemType
Period Type: instant
Balance Type: debit
Business Description & Guidance:
This is the value, as at the relevant date, for Life insurance business which must be conducted through separately accounted 'statutory funds' within a life insurer. Include:- The value of unit-linked insurance or investment policies regardless of who manages the underlying assets of these policies/products, or how the underlying assets are distributed/invested. If net market value is not available or appropriate (e.g. traditional whole of life policies) use surrender value; and- The net market value of policies in respect of death, total, permanent or temporary disablement.  

Form Labels
Investments and/or insurance policies held in the statutory fund of life companies
All items on SRF 720.0 are required for Australia's National Accounts, which is based on the international standard, the System of National Accounts 2008 (2008 SNA) including the definition of market price.