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Australian Accounting Standards Board 17 Insurance Contracts (AASB 17) – Data collection quarterly reporting extension

This image shows APRA's contact details: AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY - 1 Martin Place (Level 12), Sydney, NSW 2000 - GPO Box 9836, Sydney, NSW 2001. Telephone: 02 9210 3000, Website: www.apra.gov.au. Australian coat of arms - APRA

To: All insurers 

 

This letter outlines changes to the reporting due date for Australian Accounting Standards Board 17 Insurance contracts (AASB17) data collection reporting forms to be completed by the Insurance Industry that are required to report on a Quarterly basis. 

The Australian Prudential Regulation Authority (APRA) is granting a 4-week extension for all the reporting forms for the September 2023 & December 2023 Quarterly reporting periods, except for the following 4 Private Health Insurance forms (PHI) which are required for premium round process.

  • HRS 101.0 Regulatory Income Statement – Supplementary Information
  • HRS 110.0 Prescribed Capital Amount
  • HRS 112.0 Determination of Capital Base 
  • HRS 115.0 Insurance Risk Charge 

The reporting extension applies only to the reporting forms that are due to be submitted via APRA Connect (AC). The due date for reporting forms that are to be submitted via Direct to APRA (D2A) remains unchanged. 

Changes to reporting due dates

The revised reporting due date for September 2023 & December 2023 Quarterly reporting forms except for the 4 PHI forms listed above are as below:

Reporting Period

Industry

Current Due Date

Extended Due Date

September 2023 Quarterly

General Insurance

27-Oct-23

27-Nov-23

Life Insurance & Friendly Societies

27-Oct-23

27-Nov-23

Private Health Insurance

28-Oct-23

27-Nov-23

December 2023 Quarterly

General Insurance

30-Jan-24

27-Feb-24

Life Insurance & Friendly Societies

30-Jan-24

27-Feb-24

Private Health Insurance

28-Jan-24

27-Feb-24

Please note that the reporting due dates described above do not apply to the 4 PHI forms that are required for the premium round process. The 4 PHI forms as listed below are due to be submitted within 28 calendar days of the each quarter end as per paragraph 8(a) of HRS 101.0, HRS 110.0, HRS 112.0, and HRS115.0:

  • HRS 101.0 Regulatory Income Statement – Supplementary Information
  • HRS 110.0 Prescribed Capital Amount
  • HRS 112.0 Determination of Capital Base 
  • HRS 115.0 Insurance Risk Charge 

APRA encourages entities with queries regarding reporting arrangements to contact APRA by email at DataAnalytics@apra.gov.au 

 

Yours sincerely, 



Chief Data Office

Australian Prudential Regulation Authority

 

2023