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Status: Pending

Review of the private health insurance capital framework

This page contains consultation documents outlining APRA's planned approach to reviewing the capital framework applicable to private health insurers, including the impacts of AASB 17 Insurance Contracts, as part of Phase Three of the PHI Policy Roadmap released in August 2016. This follows completion of Phase One (Risk) and Phase Two (Governance) in 2018.

April 2022

On 6 April 2022, APRA released for consultation further revisions to the private health insurer (PHI) reporting standards.

Written submissions are requested by 3 June 2022.

The letter to industry and draft reporting standards can be found below:


Integrating AASB 17 into the Capital and reporting framework for insurers and updates to the private health insurer capital framework

Draft reporting standards

Published 6 April 2022

December 2021


On 13 December 2021, APRA released the detailed proposals in relation to its review of the private health insurance capital framework. The release includes the draft capital standards, draft reporting standards, Quantitative Impact Study (QIS) workbooks and a response paper setting out APRA’s response to stakeholder feedback provided to date.

The release also includes an information paper which provides an overview of the standards for Board’s and Senior Management.

Insurers are strongly encouraged to complete the QIS workbooks and provide submissions on the draft Standards by 31 March 2022. Written submissions from other stakeholders are also welcome and are also requested by 31 March 2022

The Reporting Standards released focus on those required for the QIS. Additional Reporting Standards not related to the QIS will be released early next year.

APRA’s intention is to release the final standards in the second half of 2022 for implementation on 1 July 2023.

As part of the consultation APRA will be holding industry forums in early 2022 and welcomes discussions with industry on the proposals prior to the close of submissions. Questions can be directed to

The information paper, response paper, draft standards and non-confidential submissions are available below.

Media release: APRA moves to strengthen capital standards in private health insurance

Information paper

Published 13 December 2021

Response paper

Published 13 December 2021

Draft prudential standards

APRA is releasing six new prudential standards and amending three existing prudential standards. A clean and tracked version is provided for each amended standard. The standards incorporate changes arising from both AASB 17 and the PHI capital review.

Published 13 December 2021

Draft reporting standards

APRA is releasing the following draft reporting standards as part of a Quantitative Impact Study. The standards incorporate changes arising from both AASB 17 and the PHI capital review.

Published 13 December 2021

Quantitative Impact Study 

APRA strongly encourages all insurers to participate in the QIS, as the data received will allow APRA to: 

  • assess the impact the integration of AASB 17 and PHI capital review proposals would have on insurers’ financial statements and their capital position;
  • use insights to inform the development of the final prudential standards. 

Participation in the QIS would also be beneficial for insurers in terms of assessing their own preparedness to adopt AASB 17 and the revised PHI capital framework. The QIS workbooks requiring completion and instructions are included in the download.

Reissued 28 February 2022

Non-confidential submissions to the December 2019 discussion paper

Integrating AASB 17 into the capital and reporting framework

Insurers should refer to the AASB 17 consultation page, for detailed information on APRA’s proposals on updates to the insurance capital and reporting framework in recognition of the implementation of AASB 17.

APRA proposes changes to align capital and reporting frameworks for insurance with AASB 17

December 2019

On 3 December 2019, APRA released a discussion paper setting out its proposed structure for the future PHI capital framework. APRA’s review of the PHI capital framework represents the third and final phase of the PHI Policy Roadmap. Information on how to respond is contained in the discussion paper below. 

Please note: Submissions on this proposal have been extended and will now close on 30 September 2020.

Discussion paper: Private Health Insurance Capital Standards Review

November 2018

Note on submissions

It is APRA's policy to publish all submissions on the APRA website unless the respondent specifically tells APRA in writing that all or part of the submission is to remain confidential. An automatically generated confidentiality statement in an email does not satisfy this purpose. If you would like only part of your submission to be confidential, you should provide this information marked as 'confidential' in a separate attachment.