APRA releases friendly society statistics for June 2016
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The Australian Prudential Regulation Authority (APRA) today released its Annual Friendly Society Bulletin publication for the year ending 30 June 2016.
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 2016:
| June 2015 | June 2016 | Change | |
|---|---|---|---|
| Net premiums | $725.8 million | $735.3 million | +1.3% |
| Net policy payments | $805.5 million | $856.7 million | +6.4% |
| Investment revenue | $404.9 million | $298.9 million | -26.2% |
| Net profit after tax | $11.2 million | $21.2 million | +89.3% |
| Total assets | $6,754.2 million | $6,805.9 million | +0.8% |
Key ratios for the friendly society industry in the year ended 30 June 2016:
| June 2015 | June 2016 | Change | |
|---|---|---|---|
| Return on net benefit fund assets (investment linked) | 5.12% | 2.47% | -2.65pp |
| Return on net benefit fund assets (non-investment linked) | 1.78% | 2.05% | +0.27pp |
| Return on net benefit fund assets (defined contribution) | 3.86% | 2.34% | -1.52pp |
| Return on net benefit fund assets (defined benefit) | -1.17% | 1.15% | +2.32pp |
Refer to the June 2016 Annual Friendly Society Bulletinpublication.
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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.