Territory Stories

February 2008 report to the Legislative Assembly

Details:

Title

February 2008 report to the Legislative Assembly

Collection

Report to the Legislative Assembly; Reports; PublicationNT

Date

2008

Description

Made available via the Publications (Legal Deposit) Act 2004 (NT).

Notes

Date:2008-02

Language

English

Subject

Northern Territory. Auditor-General's Office -- Periodicals; Finance, Public -- Northern Territory -- Accounting -- Periodicals; Northern Territory -- Appropriations and expenditures -- Periodicals

Publisher name

Northern Territory Auditor-General's Office

Place of publication

Darwin

ISSN

1323-7128

Copyright owner

Check within Publication or with content Publisher.

Parent handle

https://hdl.handle.net/10070/223559

Citation address

https://hdl.handle.net/10070/686148

Page content

Auditor-General for the Northern Territory February 2008 Report 157 Territory Insurance Office cont The continued improvements to the results were mainly due to an increase in investment income, improved claims management and the impact of increased interest rates on the outstanding claims valuation. Investment revenue, excluding interest revenue, rose from $37.3 to $53.1 million, an increase of $15.8 million in comparison to the prior year. This increase largely related to income from and movements in the value of the managed funds that TIO invests in and increases in the fair value of investment properties. The general insurance result includes the reversal of the additional board approved provision of $2.0 million which was an allowance for the risk associated with the potential for workers compensation claimants to pursue retrospective superannuation benefits contingent upon the outcome of the Chaffey case (refer previously).