The Australian Government Actuary has finished its report comparing home and contents premiums in north Queensland with the rest of the country.

The Government has not given a release date for the study, which will cover the period 2005-13.

The actuary’s two previous reports found strata premium rises of several-hundred per cent were due to historical underpricing, reinsurance costs and disaster losses.

Premiums soared following cyclone losses, while some insurers withdrew from the region.

A report released in June found lack of competition may play a small part in pricing, while the business is reasonably profitable for insurers, rather than highly profitable.

It found strata residents in Brisbane, Gold Coast, Sydney, Melbourne and Adelaide pay about 20% of the level of north Queensland premiums rates.