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APRA statistics cause confusion

The Australian Prudential Regulation Authority (APRA) has released its Quarterly General Insurance Performance statistics for the second quarter, despite releasing its Insight statistics for the same period only a couple of weeks ago.

The release of both sets of statistics – which at first glance appear to refer to the same period – have left some industry observers scratching their heads.

An APRA spokesman told Sunrise Exchange News the reason the APRA Insight figures don’t match the latest general insurance statistics (despite both sets of figures being attributed to the second quarter of 2005) is because the Insight figures are about six months old.

“The Insight figures actually should have been released earlier, but because we’re developing the new six-monthly publication the statistic dates have been thrown out.”