The Australian Prudential Regulation Authority (APRA) today released updated draft reporting forms and instructions for APRA-regulated general insurers. The updates reflect changes flowing from the implementation of International Financial Reporting Standards (IFRS) in Australia and APRA's general insurance stage 2 reforms.

The proposed reporting requirements will also enable agents appointed by general insurers to submit statistical data on behalf of those general insurers.

Though a number of revisions to current reporting requirements are proposed, most of these are minor. Many revisions have been requested by insurers since general insurance reporting under APRA's electronic lodgement system, 'Direct to APRA', was introduced in 2002. APRA has taken the opportunity to further refine the reporting process coincident with the stage 2 reforms.

Subject to consultation, the final reporting standards will be released in the third quarter of 2006 and will apply to regulatory returns for reporting periods ending after 1 January 2007.

Comments on the proposed changes are invited by 30 June 2006 and can be sent to insurance@apra.gov.au

The reporting forms and instructions are part of reporting standards under the Financial Sector (Collection of Data) Act 2001.

The draft forms and instructions, as well as a document outlining the changes to the general insurance reporting framework, are located on APRA's website at: http://www.apra.gov.au/Statistics/GI-reporting-consultation-May-06.cfm


The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, friendly societies, and most members of the superannuation industry. APRA is funded largely by the industries that it supervises. It was established on 1 July 1998. APRA currently supervises institutions holding approximately $2.2 trillion in assets for 20 million Australian depositors, policyholders and superannuation fund members.

Media and industry inquiries only:
Stuart Snell, Head of Public Affairs
Australian Prudential Regulation Authority
Telephone: 02 9210 3384
Mobile: 0407 250 276

All other inquiries:
APRA Contact Centre
1300 131 060