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Defence Service Homes Insurance Scheme
Statement of Comprehensive Income
for the period ended 30 June 2017
2017 | 2016 | Original Budget 2017 |
||
---|---|---|---|---|
Notes | $'000 | $'000 | $'000 | |
NET COST OF SERVICES | ||||
Claims expense | ||||
Claims expense | 33,999 | 24,920 | 28,000 | |
Less: Reinsurance and other recoveries | 3.1A | (1,767) | (209) | - |
Net claims expense | 32,232 | 24,711 | 28,000 | |
Premium revenue | ||||
Insurance premium revenue | 43,272 | 42,997 | 43,000 | |
Less: Reinsurance expense | (6,945) | (7,427) | (7,000) | |
Net premium revenue | 36,327 | 35,570 | 36,000 | |
Operating expense | ||||
Employee benefits equivalent | 1.1A | 3,632 | 3,225 | 4,150 |
Fire brigade and emergency services contributions | 1,764 | 1,451 | 1,500 | |
Suppliers | 1.1B | 3,517 | 3,036 | 3,275 |
Amortisation | 75 | 75 | 75 | |
Acquisition costs | 366 | 425 | ||
Total operating expense | 9,354 | 8,212 | 9,000 | |
Underwriting result | (5,259) | 2,647 | (1,000) | |
Own-Source Income | ||||
Own-source revenue | ||||
Commissions received | 1.2A | 2,810 | 2,846 | 3,000 |
Revaluation of investments at fair value through profit or loss | 1.2B | - | 140 | - |
Interest | 1.2C | 1,493 | 1,218 | 1,700 |
Resources received free of charge | 1.2D | 56 | 58 | 55 |
Total own-source revenue | 4,359 | 4,262 | 4,755 | |
Total own-source income | 4,359 | 4,262 | 4,755 | |
Net contribution by/ (cost of) services | (900) | 6,909 | 3,755 | |
Revenue from Government | 1.2E | 120 | 120 | 120 |
Surplus/ (Deficit) attributable to the Australian Government | (780) | 7,029 | 3,875 | |
Other comprehensive income | - | - | - | |
Total comprehensive income/ (loss) attributable to the Australian Government | (780) | 7,029 | 3,875 |
The above statement should be read in conjunction with the accompanying notes.
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