The Australian Prudential Regulation Authority has opened a consultation on proposed changes to its quarterly statistical publications for general, life and private health insurance.

It aims to enhance the contents and presentation of industry aggregate insurance data after it changed its capital and reporting framework for insurance last July, reflecting the implementation of Australian Accounting Standards Board 17 Insurance Contracts.

“These changes have had an impact on the data presented in the quarterly insurance publications, which are based on now superseded reporting standards. APRA needs to revise the data presented in the impacted quarterly insurance publications to reflect the new reporting framework.”

The regulator expects to release the first edition of the revamped quarterly publications in June. It will include data for the September 2023, December 2023 and March 2024 reporting periods.

The closing date for submissions is May 22. Click here for the consultation paper.