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APRA releases general insurance statistics for September 2018

The Australian Prudential Regulation Authority (APRA) today released its Quarterly General Insurance Performance Statistics publication for the September 2018 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 30 September 2018:
 
 
September 2017
September 2018
Change
Net earned premium
$32.1 billion
$33.4 billion
+4.2%
Net incurred claims expense
$20.2 billion
$20.9 billion
+3.2%
Underwriting result
$3.8 billion
$4.2 billion
+9.0%
Investment income
$2.0 billion
$2.5 billion
+25.1%
Net profit after tax
$3.0 billion
$3.9 billion
+28.4%
 
Key ratios for the general insurance industry in the year ended 30 September 2018:
 
 
September 2017
September 2018
Change
Net loss ratio
63%
63%
unchanged
Return on net assets
11.0%
14.2%
+3.2pp
Prescribed capital amount coverage ratio
1.79x
1.79x
unchanged
 
Copies of the 30 September 2018 Quarterly General Insurance Performance Statistics publication are available on APRA’s website at:
https://www.apra.gov.au/publications/quarterly-general-insurance-performance-statistics

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

Media enquiries

Ben McLean

APRA Media Unit

Phone: 02 9210 3636

All other enquiries

Phone: 1300 558 849