The prudential regulator has released a consultation paper on its institution-level data publications covering general and life insurance.

The Australian Prudential Regulation Authority says it needs to revise the data to reflect the reporting framework for insurance that took effect in July 2023.

It has already changed its quarterly industry aggregate statistics under the framework.

“It is important to note that APRA is not proposing to expand the granularity of the data included in these publications … beyond what has already been published,” the regulator said.

“Consistent with existing practice, APRA will not publish or otherwise disclose class of business/product group data for individual insurers. 

“Should there ever be any consideration of publishing such insurer-level data in the future, it would require formal consultation with the industry.”

The consultation paper also covers general insurance claims development statistics.

The closing date for submissions is September 5. See the paper here.