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APRA releases life insurance statistics for September 2017

17.45
14 November 2017

The Australian Prudential Regulation Authority (APRA) today released its Quarterly Life Insurance Performance Statistics publication for the September 2017 quarter.

The Quarterly Life Insurance Performance Statistics publication provides industry aggregate summaries of financial performance, financial position, capital adequacy and key ratios in a time series.

Key performance statistics for the life insurance industry for the 12 months to 30 September 2017:

 

September 2016 September 2017 Change
Net policy revenue $16.3 billion $16.0 billion -1.6%
Net policy revenue recognised as a deposit $37.3 billion $28.3 billion -24.1%
Net policy expenses $8.5 billion $9.4 billion +11.2%
Net policy expenses recognised as a withdrawal $120.1 billion $34.7 billion -71.1%
Net profit after tax $2.6 billion $2.2 billion -16.0%
Total assets $225.5 billion $229.6 billion +1.8%


Key ratios for the life insurance industry for the 12 months to 30 September 2017:

September 2016 September 2017 Change
Return on net assets 10.9% 8.7% -2.2 pp
Prescribed capital amount coverage ratio 1.80x 1.90x +0.10x


Copies of the September 2017 Quarterly Life Insurance Performance Statistics publication are available on APRA’s website at: www.apra.gov.au/lifs/Publications/Pages/quarterly-life-insurance-statistics.aspx 

The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding $6.1 trillion in assets for Australian depositors, policyholders and superannuation fund members.

Media and industry enquiries only:
Courtney O’Sullivan
APRA Media Unit
Telephone: 02 9210 3636

All other inquiries:
APRAinfo: 1300 55 88 49