The Australian Prudential Regulation Authority (APRA) is to publish two new insurance industry reports in line with its plans to modernise the collection of life insurance data.

APRA intends to publish quarterly and half-yearly bulletins mirroring existing reports on the general insurance industry.

APRA has invited industry consultation on the new publications, which follow new life insurance reporting requirements introduced by the regulator at the start of the year.

The quarterly life report will include aggregate financial performance, solvency and capital adequacy of insurers, while the half-year bulletin will sum up their annual performance. Reports will commence after the first quarter of next year.

APRA says the publications will “provide policyholders and the public with a more comprehensive analysis of the strength and performance of the life insurance industry”.