The Australian Prudential Regulation Authority (APRA) today released the latest edition of Life Insurance Trends covering the quarter up to the end of March 2003.

According to statistics gathered from 40 registered life insurers, total life office statutory fund assets backing Australian policyholder liabilities were $176.4 billion at the end of March 2003, representing decreases of 2.0 per cent for the March quarter and 6.6 per cent the previous 12 months.

Assets derived from ordinary business have remained in a range of between $23.4 billion and $34.9 billion since 30 June 1988.

Superannuation assets backing Australian policyholder liabilities in life office statutory funds stood at $151.4 billion at March 2003. These assets have generally been trending upwards and now represent 85.9 per cent of the total assets in life office statutory funds, compared to 60 per cent in June 1988.

A copy of Life Insurance Trends is available on APRAs website at www.apra.gov.au

APRA is the prudential regulator of the financial services industry including banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, friendly societies, and most members of the superannuation industry. It currently regulates $1.6 trillion in assets for 20 million Australians.

For further information:	Media Enquiries only:
APRA Call Centre	Susan Morey
1300 131 060	APRA - Public Affairs
	02 9210 3384
	0438 124 524