The Catholic Church’s insurance company reportedly allocated up to $150 million to cover outstanding and expected compensation claims for victims of child sexual abuse, years before the institution publically acknowledged the extent of the abuse.

The figure represents more than three times the amount it is believed has been paid to victims to date, and is expected to increase as the Royal Commission on Institutional Reponses to Child Sexual Abuse continues to hear victim testimonies, according to The Age.

Documents reveal Catholic Church Insurance Ltd (CCI) issued internal financial warnings regarding the abuse claims as early as 1988, well before the institution’s first attempts at dealing with the problem when they set up the Melbourne Response and Towards Healing programs in 1996.

The insurance agency even recommended to the nation’s bishops the implementation of a dedicated sexual abuse insurance policy to cover alleged incidents from as far back as the 1960's.

That allegation is likely to raise new questions for Cardinal George Pell who claimed he was aware of only a “dozen” complaints in 1996 when he created the Melbourne assistance program.

CCI has so far declined to comment on compensation payouts to victims.

The Royal Commission believes the church has paid more than $43 million to victims since 1997.