The prudential regulator says the insurers, banks and superannuation funds it oversees have made progress guarding against cyberattacks.

The Australian Prudential Regulation Authority’s annual report notes improving operational resilience was a key focus in 2024-25, and strengthening co-operation on interconnected regulatory issues will remain a priority this year.

It warns cyber risks continue to evolve.

Another priority for the regulator is work to assess how climate risk could affect organisations’ ability to meet financial promises.  

APRA is working with the five largest insurers on the Insurance Climate Vulnerability Assessment, examining how affordability may change up to 2050.  

Last December, APRA published an information paper on the Insurance CVA and it will publish findings in this reporting period.