Media Releases
APRA releases friendly society statistics for 2017/18 financial year
The Australian Prudential Regulation Authority (APRA) has today released its Annual Friendly Society Bulletin publication for the year ending 30 June 2018.
The Annual Friendly Society Bulletin publication provides industry aggregate summaries of financial performance, financial position, capital adequacy and key ratios for a 12-month reference period. The publication also contains a range of data items for each individual entity, including profit and loss, balance sheet and capital information.
Key performance statistics for the friendly society industry in the year ended 30 June:
| June 2017 | June 2018 | Change | |
|---|---|---|---|
| Net policy revenue | $13.1 million | $19.8 million | +51.5% |
| Investment revenue | $394.2 million | $460.6 million | +16.9% |
| Total revenue | $486.4 million | $505.3 million | +3.9% |
| Net policy expenses | $4.8 million | $11.9 million | +147.3% |
| Operating expenses | $157.2 million | $114.0 million | -27.5% |
| Effective movement in net policy liabilities | $219.3 million | $269.6 million | +22.9% |
| Total expenses | $387.6 million | $403.6 million | +4.1% |
| Net profit after tax | $30.6 million | $21.3 million | -30.3% |
| Total assets | $7,169.3 million | $7,530.8 million | 5.0% |
Key ratios for the friendly society industry in the year ended 30 June:
| June 2017 | June 2018 | Change | |
|---|---|---|---|
| Return on net benefit fund assets | 3.83% | 4.07% | +0.24pp |
| Return on net assets | 11.52% | 7.64% | -3.88pp |
| Prescribed capital amount coverage ratio | 2.69x | 2.62x | -0.07x |
The ‘highlights’ section in the Annual Friendly Society Bulletin provides additional detail of the movements in key performance statistics.
The June 2018 Annual Friendly Society Bulletin is available on APRA’s website at: https://www.apra.gov.au/publications/annual-friendly-society-bulletin
The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding around $9 trillion in assets for Australian depositors, policyholders and superannuation fund members.