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APRA releases general insurance statistics for March 2017

 

The Australian Prudential Regulation Authority (APRA) today released its Quarterly General Insurance Performance Statistics publication for the March 2017 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 31 March 2017:

 March 2016March 2017Change
Net earned premium$30.3 billion$31.8 billion+4.8%
Net incurred claims$19.4 billion$21.5 billion+10.9%
Underwriting result$2.9 billion$2.3 billion-22.0%
Investment income$1.4 billion$3.0 billion+108.8%
Net profit after tax$2.2 billion$2.6 billion+17.4%



Key ratios for the general insurance industry in the year ended 31 March 2017:

 March 2016March 2017Change
Net loss ratio64%68%+4pp
Return on net assets8.1%9.4%+1.3pp
Prescribed capital amount coverage ratio1.80x1.80xunchanged

Refer to the 31 March 2017 Quarterly General Insurance Performance Statistics publication.

Statistics

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Contact APRA Media Unit, on +61 2 9210 3636

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For more information contact APRA on 1300 558 849.

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.