PET - Plain English Taxonomy

Label:	Financial Risk Solvency Greater Policy Liability MTV Net Aggregate Amount
TREF ID:	DE5140
Data Type:	xbrli:monetaryItemType
Period Type:	instant
Balance Type:	credit
Business Description & Guidance:	Report the aggregate of the greater of the Solvency Liability value (calculated using assumptions as per the solvency standard) or the Minimum Termination Value (MTV) of each related product group (RPG), net of reinsurance.MTV is the amount that a life insurer is obliged to pay to policyholders if they decided to voluntarily terminate their policies at the relevant date. The obligation might be contractual, statutory or a result of past practice. Calculated as the greater of: a) the lowest Termination Value that the reporting party is obliged to pay; and b) the amount calculated in accordance with the Surrender Value Standard.

Usage

Form	Labels
LRF_100_0	Label: Guidance:	Greater of Solvency Liability and MTV Net Amount The prudential standards allow for the actuary to be relieved of calculating the total Solvency Liability (SL) and the total MTV (respectively) for a related product group (RPG) under certain conditions. For aggregating and reporting purposes, the single amount calculated for an RPG should be included in both the SL and the MTV, rather than not including any value for the inapplicable item. Amounts are reported amounts, not derived amounts, as effectively the maximum in each case is taken at the RPG level and then aggregated across the statutory fund. Therefore each of these amounts will not necessarily match the greater of the corresponding amounts entered for SL and MTV.

Form

Labels

LRF_100_0

Label:

Guidance:

Greater of Solvency Liability and MTV Net Amount
The prudential standards allow for the actuary to be relieved of calculating the total Solvency Liability (SL) and the total MTV (respectively) for a related product group (RPG) under certain conditions. For aggregating and reporting purposes, the single amount calculated for an RPG should be included in both the SL and the MTV, rather than not including any value for the inapplicable item.

Amounts are reported amounts, not derived amounts, as effectively the maximum in each case is taken at the RPG level and then aggregated across the statutory fund. Therefore each of these amounts will not necessarily match the greater of the corresponding amounts entered for SL and MTV.