1. Life Annual Statement software Life insurance companies
A.R.A.S. Life version 3.1
Life Annual Statement software
Life insurance companies

2. Table of Contents Reduction in systems Opening ARAS 3.1
Primary source of reported data
ARAS structure
What’s new in ARAS 3.1
Added new Files
User Friendly Features
Common mistakes
Transition version 2.7 to 3.1
Future plans ARAS
Access to ARAS

3. Reduction in systems ARAS 2.7 Captive/Reinsurer Life v2.7 Life v2.7
Separate Accounts Life v2.7
ARAS Library
ARAS 3.1
Life v3.1
ARAS library
Captives/reinsurers and onshore company’s use the same software
However, the Separate Accounts File remains v2.7

4. Opening ARAS 3.1 Open the ARAS library Open the ARAS 3.1 worksheet
Close the ARAS text box
Select your company name in the ‘Company selection’ text box
System automatically sets the company name in all sheets
System automatically determines which solvency file should be completed and selects the appropriate minimum requirement

5. Primary source of reported data
Company’s general ledger/ trial balance
Link between the accounts in company’s general ledger/ trial balance and ARAS accounts in balance sheet and profit & loss statement
Company’s sub-ledgers
Premium sub-ledger
Claims sub-ledger
Investment sub-ledger
Link to complete ARAS operational files

6. ARAS structure File 101 and supporting files
‘Stand alone’ files

7. 101 and supporting schedules

8. 104 and supporting schedules

9. ‘Stand alone’ files
100
125
126
127
128

10. What’s new in ARAS 3.1
3 Files are added in version 3.1, the other 31 Files remain the same as in version 2.7
New user friendly features which will help in the completion of the ARAS

11. Added new Files 3 Files are added to the Life statement, namely:
111-O: Reinsurance balances receivable and payable
115: Analysis of risk coverage and reinsurance
116: Technical information on risk coverage and reinsurance
So, increased disclosure of the reinsurance arrangements of the company

12. File 111-O Reinsurance balance receivable Reinsurance balances payable
Disclosure of name and location of reinsurer
For each type of receivable identified in File 103
Reinsurance balances payable
Disclosure of name and location of reinsured
For each type of payable identified in File 103

13. File 115
For each company from which reinsurance is assumed, provide the following information:
Premium assumed
Portion assumed benefit provision
For each company to which reinsurance is ceded, provide the following information:
Premium ceded
Portion ceded benefit provision and ceded technical provision

14. File 116 Segregate between assumed and ceded reinsurance programs
Briefly describe for each reinsurance program in force, amongst others
Standard reinsurance agreements
Catastrophe reinsurance agreements
Clearly indicate agreements with affiliates!
Per type of reinsurance agreement, briefly list particulars, including:
Type of coverage, effective date, retention, commission, terms of cancellation, max. coverage per risk or event

15. User friendly features
Clearer description of errors in error list
‘Right click’ menu options
‘Jump to Linked Cells’
‘Show errors’
Easier data import and export
‘Control total’ errors are marked with red circle, when you left click on it a box will indicate what should be done to solve the error
‘Copy paste’ text from electronic documents into ARAS text files

16. Common mistakes Set Excel security level at low or medium
ARAS library should be opened first for the system to work properly
After completion of a year, perform a year-end closing procedure in order to generate a datasheet to be submitted to CBCS.
Do not make an export file or copy the whole excel worksheet!
The contents of the actuarial and auditor’s report should be typed or ‘copy-pasted’ into ARAS.
Do not submit only hard copies!

17. Common mistakes (cont’d)
The date stamp on the submitted hard copy files should be the same on all files. Therefore, these hard copies should be printed from the same year-end closing procedure.
Do not mark File 125 as ‘not applicable’. This is required according to article 26, paragraph 3 of the National Ordinance. Not completing this file means non-compliance with our legislation!

18. Transition ARAS v2.7 to v3.1
Make an export of the 2011 ready-to-complete file. (This file was created after year-end closing of year 2010)
Open the ARAS Library and then the ARAS Life 3.1 empty file.
Select the name of your company
Import the 2011 datasheet containing Last Year totals
Enter prior year totals of File 111-O in ‘Last Year Totals’ tab (gray fields)
Start entering 2011 data
No changes for the Separate Accounts File v2.7. ARAS Library 2.7 is needed to run the software

19. Future plans with ARAS Electronic submission of datasheets
Development of ARAS software in a generic programming language (move away from Excel-based systems)
More disclosure of the assets on the balance sheet

20. Access to ARAS 3.1 Go to www.centralbank.an
‘Click’ on the ‘Login’ icon on the ribbon
Username: autoflow
Password: CentralBank2
‘Click’ on link ‘Annual Reports Automated Statements (ARAS)’
Access folder ‘ARAS 3.1’

21. Questions??