|Label:||Category Of Insurer|
This dimension is used to identify the category of the insurer reporting the information as defined in relevant prudential standards.
The reported information relates to a category D insurer incorporated in Australia that:(a) is owned by an industry or a professional association, or by the members of the industry or professional association or a combination of both; and (b) only underwrites business risks of the members of the association or those who are eligible, under the articles of association or constitution of the association, to become members of the association; but (c) is not a medical indemnity insurer as defined under the Medical Indemnity Act 2002. Category D insurers are often referred to as 'association captives' and could be mutual companies or shareholder companies.
|ForeignInsurerBranchesOperatingInAustralia||Foreign Insurer Branches Operating In Australia||DV5467||
The reported information relates to a category C insurer, a foreign general insurer operating as a foreign branch in Australia.A Category C insurer is a foreign insurer operating as a foreign branch in Australia and could be a branch of a foreign mutual or shareholder company.
The reported information relates to a category A insurer being insurers incorporated in Australia and excludes insurers reporting under any other category.
|SoleParentCaptive||Sole Parent Captive||DV4619||
The reported information relates to a category E insurer incorporated in Australia that is a corporate captive or partnership captive. Category E insurers, often referred to as `sole parent captives', will generally be shareholder companies. Corporate captive means an insurer that is owned by a single company or a group of related bodies corporate; and exists for the purpose of underwriting risks of the parent company or members of a group of related companies, which may include the risks of joint venture partners and contractors of the members of the group of companies. Corporate captives include insurance group captives, an insurer that is a subsidiary of an insurer or an authorised NOHC; and exists for the purpose of reinsuring the risks of the insurer or members of the insurance group, which may include the risks of joint venture partners of the members of the insurance group. Partnership captive means an insurer that is owned by a partnership; and exists for the purpose of underwriting the business risks of the partners and/or the partnership.
The reported information relates to a category B insurer, an insurer incorporated in Australia; and a subsidiary of a local or a foreign insurance group.Category B insurers are part of a local or foreign insurance group. They could be subsidiaries of mutual or shareholder companies. An insurance group captive is not a Category B insurer.