A General Insurer That Also Conducts Other Business May Be

A general insurer that also conducts other business may be required to apply different valuation methods even within 1 class of assets.For example,land and buildings may be valued in one of a number of ways,including:

A) at cost or fair value where they do not back general insurance business liabilities but only at fair value under AASB 1023.
B) at lower of cost and net realisable value where they are an integral part of the insurance business and net present value where they are not an integral part of the insurance business.
C) at management's discretion, at either net market value or depreciated (in the case of buildings) cost.
D) at net market value or fair value, depending upon the whether the land and buildings are an investment for the purposes of generating revenue or used as an operating asset to provide office space for the insurance business