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reinsurance contract means an insurance contract issued by one insurer ( the reinsurer ) to compensate another insurer (the cedant ) for losses on one or more contracts issued by the …

reinsurer means the party that has an obligation under a reinsurance contract to compensate a cedant if an insured event occurs …

separate financial statements are those presented by a parent, an investor in an associate or a venturer in a joint venture, in which the investments are accounted for on the basis of the direct equity interest rather than on the basis of the reported …

statutory fund means a statutory fund under the Life Insurance Act 1995 …

unbundle means to account for the components of a contract as if they were separate contracts …

The following terms are defined in AASB 132 Financial Instruments: Presentation and are used in this Standard with the meaning specified in AASB 132 : (a) financial asset; (b) financial instrument; and (c) financial …

Remeasurements of the net defined benefit liability (asset) comprise: (a) actuarial gains and losses; (b) the return on plan assets, excluding amounts included in net interest on the net defined benefit liability (asset); and (c) any change in the effect …

Actuarial gains and losses are changes in the present value of the defined benefit obligation resulting from: (a) experience adjustments (the effects of differences between the previous actuarial assumptions and what has actually occurred); and (b) the …

The return on plan assets is interest, dividends and other income derived from the plan assets, together with realised and unrealised gains or losses on the plan assets, less: (a) any costs of managing plan assets; and (b) any tax payable by the plan …

A settlement is a transaction that eliminates all further legal or constructive obligations for part or all of the benefits provided under a defined benefit plan, other than a payment of benefits to, or on behalf of, employees that is set out in the terms …