PET - Plain English Taxonomy

Label: Financial Risk Solvency FX Adjustment Assets Non Standard Resilience Factors Amount
TREF ID: DE5585
Data Type: xbrli:monetaryItemType
Period Type: instant
Balance Type: credit
Business Description & Guidance:
Report the value of the Adverse Exchange Movement Adjustment in relation to admissible assets with non-standard resilience factors.The Adverse Exchange Movement Adjustment is an addition to the resilience reserves calculated using the prescribed Adverse Exchange Movement factor as set out in the solvency standards. The Resilience Reserve is determined as the additional amount that needs to be held before the happening of a prescribed set of changes in the economic environment, such that after the changes the admissible assets of the reporting party are able to meet the policy owner and other liabilities of the statutory fund.Admissible assets with non-standard resilience factors is the net market value, or fair value, of assets where the actuary has considered that non-standard resilience factors are appropriate.This should only be used in rare cases. It is intended to cover situations where assets are disaggregated into (1) an identifiable sub-asset and (2) a residual that does not fit into any of the asset sectors specified by Life Insurance Prudential Standards for resilience purposes, or where a non-standard resilience risk has been modelled in accordance with Life Insurance Prudential Standards.Net market value, or fair value, is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal. 

Usage
Form Labels
Label:
Assets non-standard resilience factors - Adverse Exchange Movement