APRA releases general insurance statistics for June 2016
The Australian Prudential Regulation Authority (APRA) today released its Quarterly General Insurance Performance Statistics publication for the June quarter 2016.
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 2016:
| June 2015 | June 2016 | Change | |
|---|---|---|---|
| Net earned premium | $31.9 billion | $30.2 billion | -5.1% |
| Net incurred claims | $22.0 billion | $20.0 billion | -8.9% |
| Underwriting result | $1.6 billion | $2.4 billion | +51.2% |
| Investment income | $3.2 billion | $2.9 billion | -9.2% |
| Net profit after tax | $2.6 billion | $3.0 billion | +15.3% |
Key ratios for the general insurance industry in the year ended 30 June 2016:
| June 2015 | June 2016 | Change | |
|---|---|---|---|
| Net loss ratio | 69% | 66% | -3pp |
| Return on net assets | 9.3% | 10.8% | +1.5pp |
| Prescribed capital amount coverage ratio | 1.74x | 1.72x | -0.02x |
Refer to the June 2016 Quarterly General Insurance Performance Statisticspublication.
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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.