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APRA releases friendly society statistics for June 2017

17.58
13 December 2017

The Australian Prudential Regulation Authority (APRA) today released its Annual Friendly Society Bulletin publication for the year ending 30 June 2017.

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 2017:

June 2016 June 2017 Change
Net premiums $735 million $1,144 million +55.6%
Net policy payments $857 million $1,040 million +21.4%
Investment revenue $290 million $394 million +36.0%
Net profit after tax $21 million $31 million +44.3%
Total assets $6,806 million $7,169 million +5.3%


Key ratios for the friendly society industry in the year ended 30 June 2017:

June 2016 June 2017 Change
Return on net benefit fund assets (investment-linked) 2.47% 5.87% +3.40pp
Return on net benefit fund assets (non-investment-linked) 2.05% 0.45% -1.60pp
Return on net benefit fund assets (defined contribution) 2.34% 3.81% +1.47pp
Return on net benefit fund assets (defined benefit) 1.15% 4.35% +3.20pp


Copies of the June 2017 Annual Friendly Society Bulletin publication are available on APRA’s website at: www.apra.gov.au/lifs/Publications/Pages/Friendly-Society-Annual-Bulletin.aspx 

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 approximately $6 trillion in assets for Australian depositors, policyholders and superannuation fund members.

Media and industry enquiries only:
Courtney O’Sullivan
APRA Media Unit
Telephone: 02 9210 3636

All other inquiries:
APRAinfo: 1300 55 88 49