Net assets of the industry have increased by $1.4 billion to $24.6 billion, up six per cent on the previous year and have increased by 22.2 per cent over the two years from September 2003 to September 2005.

The industry underwriting result for the twelve months to September 2005 was $3.3 billion, a decrease of 1.0 percent on the previous year. This corresponds to a net underwriting combined ratio of 84 per cent.

Net loss ratios for the industry in the year ended 30 September 2005 was 59 per cent with the loss ratio for the September 2005 quarter at 57 per cent, down from 67 per cent for the same period in the previous year.

Total industry net profit after tax for the year ended 30 September 2005 was at $5.5 billion, which corresponds to a return on equity of 22.9 per cent, down slightly from 23.2 per cent in the previous year.

APRA's Quarterly General Insurance Performance publication provides industry aggregate summaries of financial performance, financial position and key ratios. Copies of the publication are available on APRA's web site at www.apra.gov.au

For more information about the publication, please e-mail statistics@apra.gov.au

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, friendly societies, and most members of the superannuation industry.
APRA is funded largely by the industries that it supervises. It was established on 1 July 1998. APRA currently supervises institutions holding approximately $2.2 trillion in assets for 20 million Australian depositors, policyholders and superannuation fund members.

Media and industry inquiries only:
Pauline Hayes, Public Affairs Manager
Australian Prudential Regulation Authority
Telephone: 02 9210 3143
Mobile: 0417 528 660

All other inquiries:
APRA Contact Centre
1300 131 060