PET - Plain English Taxonomy

LRF_430_0: Sources of Profit
Australian Business Number Institution Name
  Life Insurers and Friendly Societies
Reporting Period Scale Factor  
Annual Thousands
Reporting Consolidation
Statutory fund
1. All statutory fund products
1.1. Life Insurance Act operating profit after income tax
          Components of experience profit or loss
Class of business Product group Profit allocation Investment earnings on assets in excess of policy liabilities Profit margins emerging Acquisition expenses Maintenance expenses Mortality (net of reinsurance) Morbidity (net of reinsurance) Surrender & discontinuance (incl. profits on terminated benefits)
      (1) (2) (3) (4) (5) (6) (7)
Australia - Ordinary Business F1. Education Policy Owner
Australia - Superannuation Business F2. Investment Account Shareholder
Overseas - All Business F3. Annuity & Superannuation
  F4. Defined Benefit Risk
  F5. Capital Guaranteed Defined Contribution Funeral
  F6. Investment Linked
  F7. Unallocated Benefit Fund Reserve
  F8. Members Capital & Retained Profit
  L1. Conventional Participating
  L2. Participating Investment Account
  L3. Annuity with Longevity Risk
  L4. Individual Lump Sum Risk
  L5. Individual Disability Income Insurance
  L6. Group Lump Sum Risk
  L7. Group Disability Income Insurance
  L8. Investment Linked
  L9. Non-par Investment Policy with Discretionary Additions
  L10. Other Non-par Investment Policy
  L11. Annuity without Longevity Risk
  L12. Other
  L13. Policy Owners Retained Profits
  L14. Shareholders Capital & Retained Profits
      Components of experience profit or loss
Class of business Product group Profit allocation Investment profits from current year earnings Investment profits from change in assumed future net earned rates Tax differences Other items Total experience profit or loss
      (8) (9) (10) (11) (12)
Australia - Ordinary Business F1. Education Policy Owner
Australia - Superannuation Business F2. Investment Account Shareholder
Overseas - All Business F3. Annuity & Superannuation
  F4. Defined Benefit Risk
  F5. Capital Guaranteed Defined Contribution Funeral
  F6. Investment Linked
  F7. Unallocated Benefit Fund Reserve
  F8. Members Capital & Retained Profit
  L1. Conventional Participating
  L2. Participating Investment Account
  L3. Annuity with Longevity Risk
  L4. Individual Lump Sum Risk
  L5. Individual Disability Income Insurance
  L6. Group Lump Sum Risk
  L7. Group Disability Income Insurance
  L8. Investment Linked
  L9. Non-par Investment Policy with Discretionary Additions
  L10. Other Non-par Investment Policy
  L11. Annuity without Longevity Risk
  L12. Other
  L13. Policy Owners Retained Profits
  L14. Shareholders Capital & Retained Profits
Class of business Product group Profit allocation New business losses recognised Loss recognition/ reversal in respect of inforce business Total capitalisation of loss / reversal of capitalised loss Financial instrument profit Management services profit Change in valuation methods and assumption Total Life Insurance Act operating profit after income tax Cumulative losses carried forward at the end of the Year
      (13) (14) (15) (16) (17) (18) (19) (20)
Australia - Ordinary Business F1. Education Policy Owner
Australia - Superannuation Business F2. Investment Account Shareholder
Overseas - All Business F3. Annuity & Superannuation
  F4. Defined Benefit Risk
  F5. Capital Guaranteed Defined Contribution Funeral
  F6. Investment Linked
  F7. Unallocated Benefit Fund Reserve
  F8. Members Capital & Retained Profit
  L1. Conventional Participating
  L2. Participating Investment Account
  L3. Annuity with Longevity Risk
  L4. Individual Lump Sum Risk
  L5. Individual Disability Income Insurance
  L6. Group Lump Sum Risk
  L7. Group Disability Income Insurance
  L8. Investment Linked
  L9. Non-par Investment Policy with Discretionary Additions
  L10. Other Non-par Investment Policy
  L11. Annuity without Longevity Risk
  L12. Other
  L13. Policy Owners Retained Profits
  L14. Shareholders Capital & Retained Profits
2. Totals by class of business and profit allocation
2.1. Life Insurance Act operating profit after income tax
    Components of experience profit or loss
Investment earnings on assets in excess of policy liabilities Profit margins emerging Acquisition expenses Maintenance expenses Mortality (net of reinsurance) Morbidity (net of reinsurance) Surrender & discontinuance (incl. profits on terminated benefits)
(1) (2) (3) (4) (5) (6) (7)
2.1.1. Australian business
2.1.1.1. Ordinary business              
2.1.1.1.1.    Policy owner  
2.1.1.1.2.    Shareholder  
2.1.1.1.3.    Total Australian - Ordinary Business  
2.1.1.2. Superannuation business              
2.1.1.2.1.    Policy owner  
2.1.1.2.2.    Shareholder  
2.1.1.2.3.    Total Australian - Superannuation business   
2.1.1.3. Total Australian business              
2.1.1.3.1.    Policy owner  
2.1.1.3.2.    Shareholder  
2.1.1.3.3.    Total Australian business  
2.1.2. Overseas - All business              
2.1.2.1. Policy owner  
2.1.2.2. Shareholder  
2.1.2.3. Total overseas - All business  
2.1.3. Total statutory fund business              
2.1.3.1. Policy owner  
2.1.3.2. Shareholder  
2.1.3.3. Total statutory fund business  
  Components of experience profit or loss
  Investment profits from current year earnings Investment profits from change in assumed future net earned rates Tax differences Other items Total experience profit or loss
  (8) (9) (10) (11) (12)
2.1.1. Australian business
2.1.1.1. Ordinary business          
2.1.1.1.1.    Policy owner  
2.1.1.1.2.    Shareholder  
2.1.1.1.3.    Total Australian - Ordinary business  
2.1.1.2. Superannuation business          
2.1.1.2.1.    Policy owner  
2.1.1.2.2.    Shareholder  
2.1.1.2.3.    Total Australian - Superannuation business   
2.1.1.3. Total Australian business          
2.1.1.3.1.    Policy owner  
2.1.1.3.2.    Shareholder  
2.1.1.3.3.    Total Australian business  
2.1.2. Overseas - All business          
2.1.2.1. Policy owner  
2.1.2.2. Shareholder  
2.1.2.3. Total overseas - All business  
2.1.3. Total statutory fund business          
2.1.3.1. Policy owner  
2.1.3.2. Shareholder  
2.1.3.3. Total statutory fund business  
  New business losses recognised Loss recognition/reversal in respect of inforce business Total capitalisation of loss / reversal of capitalised loss Financial instrument profit Management services profit Change in valuation methods and assumptions Total Life Insurance Act operating profit after income tax Cumulative losses carried forward at the end of the Year
  (13) (14) (15) (16) (17) (18) (19) (20)
2.1.1. Australian business
2.1.1.1. Ordinary business                
2.1.1.1.1.    Policy owner   
2.1.1.1.2.    Shareholder   
2.1.1.1.3.    Total Australian - Ordinary business   
2.1.1.2. Superannuation business                
2.1.1.2.1.    Policy owner   
2.1.1.2.2.    Shareholder   
2.1.1.2.3.    Total Australian - Superannuation business  
2.1.1.3. Total Australian business                
2.1.1.3.1.    Policy owner   
2.1.1.3.2.    Shareholder   
2.1.1.3.3.    Total Australian business  
2.1.2. Overseas - All business                
2.1.2.1. Policy owner   
2.1.2.2. Shareholder  
2.1.2.3. Total overseas - All business  
2.1.3. Total statutory fund business                
2.1.3.1. Policy owner   
2.1.3.2. Shareholder   
2.1.3.3. Total statutory fund business