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Statement of Comprehensive Income

Defence Service Homes Insurance Scheme
STATEMENT OF COMPREHENSIVE INCOME

for the period ended 30 June 2018

    2018 2017
Restated1
Original
Budget
2018
  Notes $'000 $'000 $'000
1  Refer to Overview section for details.
NET COST OF SERVICES        
Claims expense        
    Claims expense   26,593 33,999 27,700
        Less: Reinsurance and other recoveries 3.1A (723) (1,767)
Net claims expense   25,870 32,232 27,700
         
Premium revenue        
    Insurance premium revenue   43,037 44,237 43,000
        Less: Reinsurance expense   (6,912) (6,945) (8,000)
Net premium revenue   36,125 37,292 35,000
         
Operating expense        
    Employee benefits equivalent 1.1A 3,411 3,632 4,200
    Fire brigade and emergency services contributions   1,482 1,460 1,400
    Suppliers 1.1B 3,879 3,517 3,325
    Amortisation   75 75 75
    Acquisition costs   387 366 400
Total operating expense   9,234 9,050 9,400
         
Underwriting result   (1,021) (3,990) (2,100)
         
Own-Source Income        
Own-source revenue        
    Commissions received 1.2A 2,891 2,810 3,100
    Interest 1.2B 1,518 1,493 1,300
    Resources received free of charge 1.2C 58 56 57
Total own-source revenue   4,467 4,359 4,457
Total own-source income   4,467 4,359 4,457
         
Net contribution by/ (cost of) services   5,488 369 2,357
         
Revenue from Government 1.2D 120 120 120
         
Surplus/(Deficit) attributable to the Australian Government   5,608 489 2,477
         
Other comprehensive income  
         
Total comprehensive income/(loss) attributable to the Australian Government   5,608 489 2,477

The above statement should be read in conjunction with the accompanying notes.

For budgetary reporting information refer to Note 7. Budget figures are as per the original PBS.

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