The Australian Prudential Regulation Authority (APRA) has excluded four general insurance (GI) reporting forms from its non-confidentiality determination following industry pushback over capital adjustments and counterparty grade data, but general insurers will still see their financial performance and operational data made publicly available – an outcome with direct implications for competitive positioning across the sector.
Reporting forms GRS 111.0, GRS 111.0.G, GRS 114.1, and GRS 114.1.G will retain their confidential status. All remaining general insurance items in APRA’s original proposal will be determined non-confidential, as will all life insurance (LI) items, which drew no objections during the consultation period.
APRA published its response letter on June 23, 2026, closing a consultation launched in August 2025 on proposed non-confidentiality determinations for the general insurance and life insurance industries and updates to their respective statistical publications.
What this means in practice: GI capital adjustment and counterparty grade data stays protected at the entity level. GI financial performance and operational data do not. Life insurers face the full scope of the original proposal. Compliance, finance, and risk teams at affected insurers should note that APRA intends to formalise the determination in mid-2026, ahead of the first release of updated statistics.
Six submissions were received from insurers, industry bodies, and other interested parties, four of which were non-confidential. Respondents did not broadly oppose APRA’s direction, but general insurers identified specific data items as problematic, with two concerns running through the feedback: the commercial sensitivity of certain data proposed for publication, and the risk that quarterly disclosures could produce figures volatile enough to be misread by users.
For general insurance, APRA accepted the case for excluding the four reporting forms covering capital adjustments and counterparty grade data. For the remaining general insurance items – which include financial performance and other operational data – APRA will proceed with the non-confidentiality determination as originally proposed. The practical effect is that entity-level publications will carry the same data items as the previous iteration of the publications prior to the reporting changes, while industry aggregate publications will be published with minimal redactions.
APRA used its response to clarify the limits of entity-level disclosure, stating that data items from a reporting form will only appear in entity-level publications if that form is designated as such in Attachment A of its response. The regulator confirmed that any future widening of that scope would require a further round of industry consultation.
APRA also noted it “has strict procedures and processes in place when considering requests to release data and will continue to respect any potential commercial concerns relating to the data collected from insurers.”
The non-confidentiality determination, once formalised, will govern how openly APRA can publish insurer-level and industry aggregate data going forward. The implications differ across insurers depending on which data items are affected.
For general insurers who secured the carve-out, the protection is real but narrow. Capital adjustment and counterparty grade data – which reflects how an insurer allocates capital across risk categories and its exposure to counterparties at varying credit grades – will not be visible to competitors through APRA’s publications. For finance and risk teams at those insurers, that means rivals cannot use publicly available APRA data to directly benchmark their capital efficiency or infer their reinsurance and investment counterparty risk profiles.
However, those same insurers will still see their financial performance and operational data proceed to non-confidential status. Underwriting results, claims experience, and expense ratios at the entity level will be accessible to market participants, meaning the carve-out shields two specific and sensitive data areas while leaving a substantial portion of each insurer's operating picture open to scrutiny.
For life insurers, the absence of any objection during the consultation means the full scope of APRA’s original proposal will apply. Finance and compliance teams at life insurers should treat the mid-2026 formalisation date as the point at which the new disclosure environment takes effect and prepare accordingly.
For analysts, policymakers, and other market participants, the determination increases the granularity of data available across both sectors, with fewer redactions in industry aggregate publications than under the previous framework.
Some respondents questioned whether quarterly financial performance and capital data should be published at that frequency, citing the potential for period-to-period swings and the risk of readers drawing conclusions without sufficient context.
APRA held its position, noting that the Quarterly General Insurance Institution-level Statistics publication has run since 2017 and that continuing it in a broadly similar format does not disadvantage insurers. The regulator stated that maintaining the existing publication “supports informed decision-making for industry participants such as regulated insurers, policymakers and market analysts.”
To address the misinterpretation risk flagged by respondents, APRA confirmed each statistics release will be accompanied by supporting documentation and metadata to give users the context needed to read the figures accurately. Insurers concerned about how their quarterly results may be interpreted externally should factor that documentation into their own stakeholder communications when statistics are released.
The June 23 response is the latest step in a process that began in April 2024, when APRA first consulted on overhauling its quarterly insurance statistical publications following the implementation of AASB 17 Insurance Contracts and a revised capital framework for private health insurers. The first edition of the revised quarterly statistics was released in August 2024. The current consultation addressed the non-confidentiality status of specific data items and the structure of the remaining general insurance and life insurance publications not covered in that earlier round.
APRA will formalise the non-confidentiality determination in mid-2026, with the first editions of the updated statistics to follow. For insurers, that timeline marks the point at which the new disclosure framework takes practical effect. Finance, risk, and compliance teams should use the intervening period to assess which of their data items will transition to non-confidential status and consider what, if any, adjustments to internal reporting or external communications may be warranted. The response letter, the revised list of items to be determined non-confidential, and the publication specifications are available on the APRA website under the Enhancements to Insurance Statistical Publications consultation page.
