The Australian Prudential Regulation Authority (APRA) is seeking industry advice on what data it should release publicly in a planned six-monthly life insurance bulletin and an annual report on friendly societies.

The proposed life industry publication would supplement APRA’s current quarterly performance statistics, while the proposed Annual Friendly Society Bulletin would be APRA’s first publication of friendly society data.

Data in the two proposed publications would be provided both in total and for individual life insurers and friendly societies.

Data currently collected for the life insurance industry under the Financial Sector (Collection of Data) Act 2001 requires APRA to make a determination that the information is not confidential.

APRA Executive Member John Trowbridge says the consultation process “is critical to ensure that APRA receives appropriate feedback to help determine what data is relevant and to identify any commercial concerns that industry may have in relation to the data that may be released”.