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Economic benefits compulsorily paid or payable to public sector entities in accordance with laws and/or regulations established to provide income to the government.   Taxes exclude fines …

An operating segment is a component of an entity: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same entity), (b) whose …

In this Standard: …

attachment date means, for a direct insurer, the date as from which the insurer accepts risk from the insured under an insurance contract or endorsement or, for a reinsurer, the date from which the reinsurer accepts risk from the direct insurer or another …

cedant means the policyholder under a reinsurance contract …

claim means a demand by any party external to the entity for payment by the insurer on account of an alleged loss resulting from an insured event or events, that have occurred, alleged to be covered by an insurance …

claims expense means the charge to the statement of comprehensive income for the reporting period and represents the sum of claims settled and claims management expenses relating to claims incurred in the period and the movement in the gross outstanding …

claims incurred means claims that have occurred prior to the end of the reporting period, whether reported or unreported at the end of the reporting …

deposit component means a contractual component that is not accounted for as a derivative under AASB 9 Financial Instruments and would be within the scope of AASB 9 if it were a separate …