Enhancements to insurance statistical publications
This page contains information regarding APRA's consultation on enhancements to the insurance statistical publications.
Enhancements to APRA's quarterly insurance publication suite
July 2024
On 17 July 2024, APRA released its response to the consultation on proposed enhancements to the content and presentation of its suite of quarterly insurance statistical publications. The proposed changes were:
- Revision of content, following changes to the reporting framework for insurance to reflect the implementation of Australian Accounting Standards Board 17 Insurance Contracts (AASB17) and revised capital framework for private health insurers, and
- Enhancement of the presentation of data, moving to an approach featuring dashboards with dynamic data tables and charts.
Submissions were largely supportive of the above proposals. However, some submissions requested clarity around the treatment of confidential data and the status of APRA’s other insurance publications. Future changes to all other insurance publications, including insurance data confidentiality, will be covered in a future consultation with industry. APRA will continue to apply necessary confidentiality protections to all insurance publications.
In response to feedback which encouraged the inclusion of various additional data items, APRA has included select data items in addition to what was originally proposed.
APRA intends to release the first edition of the enhanced quarterly insurance statistics in August 2024.
Letter
Response to submissions - Enhancements to APRA’s quarterly insurance publication suite
Submissions
April 2024
On 23 April 2024, APRA has commenced a consultation on proposed enhancements to the content and presentation of its suite of quarterly insurance statistical publications.
The implementation of the Australian Accounting Standards Board (AASB17) collections and the revised private health insurance (PHI) capital framework has resulted in significant changes in the reporting framework for insurers.
Considering these changes, APRA is seeking feedback on the proposed content and presentation for the following quarterly insurance statistical publications:
- Quarterly general insurance performance statistics;
- Quarterly life insurance performance statistics; and
- Quarterly private health insurance statistics.
To present insurance industry data in a more insightful and engaging way, APRA is taking the opportunity to modernise its approach to the presentation with dynamic data tables and visualisations.
Submissions on these proposals are due by 22 May 2024 and should be sent to: dataconsultations@apra.gov.au.
Consultation paper
Consultation on enhancements to APRA’s quarterly insurance publication suite
Attachment A – Publication specifications
Attachment B – Example of presentation layer
Note on submissions
It is APRA's policy to publish all submissions on the APRA website unless the respondent specifically tells APRA in writing that all or part of the submission is to remain confidential. An automatically generated confidentiality statement in an email does not satisfy this purpose. If you would like only part of your submission to be confidential, you should provide this information marked as 'confidential' in a separate attachment.
Submissions may be the subject of a request for access made under the Freedom of Information Act 1982 (FOIA). APRA will determine such requests, if any, in accordance with the provisions of the FOIA. Information in the submission about any APRA-regulated entity that is not in the public domain and that is identified as confidential will be protected by section 56 of the Australian Prudential Regulation Authority Act 1998 and will therefore be exempt from production under the FOIA.