The future of the Australian Reinsurance Pool Corporation (ARPC) should be known by early next month.

A federal Treasury spokesman told insuranceNEWS.com.au the latest three-yearly review into the corporation, which administers the Government’s terrorism insurance scheme, is moving into the ministerial approval process.

Until the findings of the review are released, it’s business as usual.

The Government announced in February that a $2.3 billion retrocession package sourced from markets in Australia, Europe, Lloyd’s and Bermuda was intended to attract private reinsurance capacity back to the Australian market.

Capacity dried up after the September 11 2001 terror attacks in the US, prompting governments to provide reinsurance backstops.

In May, the National Insurance Brokers Association called for the ARPC to be retained, saying there is still insufficient capacity at reasonable prices.