The Australian Prudential Regulation Authority (APRA) has released its Quarterly General Insurance Performance Statistics and Quarterly General Insurance Institution Level Statistics publications for the December 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 31 December 2018:
|Net earned premium
|Net incurred claims expense
|Net profit after tax
Key ratios for the general insurance industry in the year ended 31 December 2018:
|Net loss ratio
|Return on net assets
|Prescribed capital amount coverage ratio
The Quarterly General Insurance Institution-level Statistics publications contain individual insurer information about financial performance, financial position, capital adequacy and key ratios. The quarterly performance statistics of insurers may be impacted by factors outside of their control, such as natural catastrophe events, as well as those driven by their internal processes, such as the timing of actuarial valuations. Users should take these factors into account when interpreting the statistics.
Copies of the 31 December 2018 quarterly publications are available on APRA’s website at: www.apra.gov.au/publications/quarterly-general-insurance-performance-statistics.