Are you an AFSL holder and authorised to deal in general
insurance? If so, you should be aware of your obligations to
provide data to APRA every six months by lodging a Form 701.
What is a Form 701?
This form collects data on contracts of insurance invoiced
during the reporting period, including:
- aggregate premium data on contracts placed with APRA authorised
insurers, Lloyd's underwriters or unauthorised foreign insurers
(UFIs); and
- transaction data on contracts placed directly, or indirectly
through a foreign intermediary, with UFIs.
A copy of Form 701 can be found here or by accessing the APRA
website.
Why does APRA want to know?
These data collection arrangements allow APRA to increase the
level of information they hold on the level and nature of insurance
business placed with UFIs. They also permit ongoing monitoring of
offshore insurance business under exemption arrangements, while
facilitating a greater understanding of the Australian
