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APRA releases general insurance statistics for December 2017

Thursday 22 February 2018

 

18.05

The Australian Prudential Regulation Authority (APRA) today released its Quarterly General Insurance Performance Statistics publication for the December 2017 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 31 December 2017:

  December 2016 December 2017 Change
Net earned premium $30.8 billion $32.2 billion +4.6%
Net incurred claims $19.8 billion $20.9 billion +5.5%
Underwriting result $3.0 billion $3.3 billion +9.4%
Investment income $2.8 billion $2.6 billion -7.9%
Net profit after tax $2.9 billion $3.4 billion +15.9%

Key ratios for the general insurance industry in the year ended 31 December 2017:

  December 2016 December 2017 Change
Net loss ratio 64% 65% +1pp
Return on net assets 10.5% 12.2% +1.7pp
Prescribed capital amount coverage ratio 1.81x 1.78x -0.03x
Statistics

Media enquiries

Contact Ben McLean, APRA Media Unit, on +61 2 9210 3024

All other enquiries

For more information contact APRA on 1300 558 849.

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 $6.5 trillion in assets for Australian depositors, policyholders and superannuation fund members.