PET - Plain English Taxonomy

Label: Financial Risk Solvency Admissible Assets Resilience Requirement Property Amount
TREF ID: DE5753
Data Type: xbrli:monetaryItemType
Period Type: instant
Balance Type: debit
Business Description & Guidance:
Report the admissible value of property investments with a resilience requirement, as per the solvency standard. The resilience requirement is an 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. There is no resilience requirement where the policy owner liabilities of the statutory fund move in harmony with the assets supporting them.The admissible value of property investments is the net market value of the entity's holdings of property investments as determined in accordance with the relevant accounting standards, including accrued income, less the value of those deemed to be inadmissible, as per the solvency standard. This  includes investments in property by way of units in property trusts or other indirect investment methods as well as investments in real property (land and buildings).The inadmissible assets are: a) assets which have a value that is dependent upon the continuation of the business;b) holdings in an associated or subsidiary entity which is a Financial Services entity;c) non-realisable (in the context of the solvency tests) intangible assets;d) assets with too little diversification, are too illiquid or have too great an exposure to one obligor of low credit standing;e) reinsurance assets which may not be fully recoverable in the context of the solvency tests; andf) amounts by which the recorded value of an asset exceeds its net realisable value.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:
Invest Property - Prior to Prescribed Change