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APRA releases general insurance statistics for June 2018

The Australian Prudential Regulation Authority (APRA) today released its Quarterly General Insurance Performance Statistics publication for the June 2018 quarter.

The Quarterly General Insurance Performance Statistics publication provides industry aggregate summaries of financial performance, financial position, capital adequacy and key ratios. The publication also includes detailed statistics at a class-of-business level, a breakdown of operating income and expenses, and more granular solvency information.

Key performance statistics for the general insurance industry in the year ended 30 June 2018:

  June 2017 June 2018 Change
Net earned premium $31.8 billion $32.9 billion +3.4%
Net incurred claims expense $20.4  billion $20.6 billion +1.0%
Underwriting result $3.5 billion $4.2 billion +19.5%
Investment income $2.4 billion $2.3 billion -3.3%
net profit after tax $3.1 billion $3.8 billion +23.9%

Key ratios for the general insurance industry in the year ended 30 June 2018:

  June 2017 June 2018 Change
Net loss ratio 64% 63% -1pp
Return on net assets 10.9% 13.4% +2.5pp
Prescribed capital amount coverage ratio 1.85x 1.82x -0.03x

Copies of the 30 June 2018 Quarterly General Insurance Performance Statistics publication are available on APRA’s website at: https://www.apra.gov.au/publications.

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 trillion in assets for Australian depositors, policyholders and superannuation fund members.

Media enquiries

For all media enquiries contact Ben McLean, APRA Media Unit, on 02 9210 3024

For all other enquiries phone 1300 558 849