Quarterly Return for Traditional and Risk Business, Savings &
Investment Products & Benefits Paid, June 2003
The series of ISI Quarterly Statistics has been substantially revised from
September 2002. The most obvious change is that reporting of risk business has been
separated from savings business. In addition, business is now reported on the basis of
products rather than movements and benefits rather than policies. There is now one report
for each product type, showing all movements for the quarter for that product.
For policies which include both savings and risk benefits,
wherever possible the savings and risk components will be reported separately. Initially
that may not be possible in all cases but should enable the benefits being sold to be more
easily identified as 'modular' products become more common.
Whereas previously the premium for a rider benefit was
included under the main product category, now the main product and each rider will be
reported as a separate benefit.
The separate reporting of savings business was not
possible for the September 2002 quarter but has commenced with the December 2002 quarter.
It has also been substantially expanded to capture business which was not previously
reported. Savings business will now be reported as either Funds under Management (funds
for which the company receives some form of remuneration for managing the funds) or Funds
under Administration (where the company receives some form of remuneration for
administering the funds).
ISI Quarterly Statistics Guidelines for Completing Returns
Click here to view
Guidelines PDF File
Tables - Quarter Ending June 2003 |
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