APRA releases friendly society statistics for June 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 | $52.5 billion | $104.8 billion | +99.6% |
| 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 |
More information can be found in the June 2017 Annual Friendly Society Bulletin publication.
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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.