September 2023 Quarterly Insurance Statistical Publication Break

TO: ALL INSURERS

This is to advise that APRA will not be releasing the September 2023 editions of the quarterly insurance statistical publications ordinarily released in late November 2023.

APRA has made significant changes to its capital and reporting framework for insurance with effect from 1 July 2023. These changes reflect the implementation of Australian Accounting Standards Board 17 Insurance Contracts (AASB17), and revisions to the capital framework for private health insurers.

The September 2023 returns will be the first entity reporting period impacted by the capital and reporting framework changes. Due to the changes in the reporting framework, data items traditionally contained within the quarterly insurance statistical publications cannot be calculated until the December 2023 reporting period. APRA is also cognisant that as the industry transitions to the new framework and to the APRA Connect data collection system there may be increased iterations of submissions. 

To ensure that the statistical publications continue to robust and accurate, APRA has determined that it will not be releasing the September 2023 editions of the following quarterly insurance statistical publications:

Consultation and next release

The release of the impacted publications will resume for the December 2023 editions, the content, structure and release timing of which will be subject to a formal consultation with stakeholders in late 2023. 

Should there be any questions, please contact dataanalytics@apra.gov.au. 

Yours sincerely,

Bruce Young

Executive Director

Technology & Data Division

Footnote

¹ Note that the statistical publications on membership, coverage, benefits paid, medical gap, prostheses, and medical services are not impacted and will still be released in late November 2023.