Mackay Chapman February APRA Update
This month’s APRA updates:
- December 2025 authorised deposit-taking institution statistics
- APRA announces executive leadership changes
- in1Bank monitored during return of deposits
- APRA outlines its role in the private health insurance premium round
Key details for each below.
December 2025 authorised deposit-taking institution statistics
APRA has published its Monthly Authorised Deposit-taking Institution Statistics for December 2025, providing updated data on the performance and balance sheets of banks, credit unions and building societies operating in Australia.
The December edition reflects the position of the banking system at year end, offering insight into household and business lending volumes, deposit levels and broader funding conditions.
Read more here.
APRA announces executive leadership changes
APRA has confirmed a senior leadership reshuffle, with Jane Magill appointed Executive Director, Life Insurance, Private Health Insurance and Superannuation (LPHIS).
Ms Magill currently serves as Executive Director, General Insurance and Banking (GIB). She will move into the LPHIS role from 16 February 2026, filling the position vacated by Carmen Beverley-Smith.
Peter Diamond, the current General Manager of Banking, will step into the role as Acting Executive Director, GIB, while APRA undertakes a formal recruitment process.
Peter Kohlhagen will continue acting in the LPHIS role until Ms Magill’s appointment formally takes effect.
in1Bank monitored during return of deposits
APRA has acknowledged that in1Bank Limited intends to return all customer deposits and relinquish its licence to operate as an authorised deposit-taking institution (ADI).
The decision to surrender the ADI licence was made by in1Bank. APRA stated it will oversee the process to ensure deposits are returned in an orderly and timely manner.
During the wind-down period, depositors remain protected under Australia’s Financial Claims Scheme, which provides a government-backed safety net for eligible deposits in the event of an ADI failure.
Customers with questions about their accounts have been advised to contact in1Bank directly.
APRA outlines its role in the private health insurance premium round
APRA has published an explanatory note detailing its role in the annual private health insurance premium approval process.
Under the Private Health Insurance Act 2007, insurers must obtain approval from the Minister for Health, Disability and Ageing before adjusting premiums.
APRA does not approve premium increases. Instead, it provides prudential advice to the Department of Health on whether proposed changes could create an “adverse prudential outcome” (for example, undermining an insurer’s ability to pay claims or remain financially sustainable).
In the lead-up to applications, APRA conducts detailed financial analysis of each insurer, drawing on regulatory returns and each insurer’s annual Financial Condition Report prepared by its Appointed Actuary. Once premium proposals are lodged, APRA assesses capital adequacy, claims coverage, pricing assumptions and sustainability risks.
The regulator emphasises that while premium increases are often unpopular, they may be necessary to ensure insurers can meet claims and remain financially sound. This is particularly true in the face of rising healthcare costs and operational risks.
The contents of this article and any linked articles do not constitute legal advice, are not intended to be a substitute for legal advice, and should not be relied upon as such. They are designed and intended as general information in summary form, current at publication, for general informational purposes only. You should seek legal or other professional advice concerning any particular legal matters you or your organisation may have.
