The Australian Prudential Regulation Authority (APRA) has flagged a change of heart on its proposed reinsurance refinements after a storm of protest from the industry.

Speaking at last week's Insurance Council of Australia seminar, APRA Executive Member John Trowbridge said the regulator has listened to concerns about the potential cost of the prudential changes, which some stakeholders have estimated at $2 billion.

APRA proposed imposing a 100% capital charge on reinsurance recoverables and a threefold increase in investment capital charges.

Mr Trowbridge says APRA will make "some kind of statement about where we're heading" by the end of next month.