The Australian Prudential Regulation Authority (APRA) wants to publish more general insurance statistics.

The regulator released a discussion paper on the proposal last week.

APRA says it wants to publish data recently determined non-confidential “to improve the relevance of APRA’s statistics to users and address feedback in stakeholder surveys and other formal and informal consultations”.  

Among the key statistics it proposes publishing for the first time are paid claims, movement in outstanding claims liabilities and investment expenses on assets backing insurance liabilities.

APRA wants to “modernise the segmentation of industry-level statistics, publish more institution-level statistics each quarter and annually, and publish new industry-level claims development statistics by class of business”.

All proposals focus on data already reported to APRA by general insurers.

The regulator would publish more details on compulsory third party motor insurance, including underwriting results, gross incurred claims, acquisition costs, commission revenue and expenses.

It also plans to publish insurers’ investment performances, including any trust distributions, interest-bearing deposits, equity investments and indirect investments.

Insurers’ capital adequacy would be published, including asset risk charge components such as equity stress, credit spread and property stress.

APRA also wants to publish general insurers’ underwriting results for homeowners and householders.

Insurers and other interested parties can make submissions on the proposals until July 29 by emailing statistics@apra.gov.au. The discussion paper is available here.