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APRA releases general insurance statistics for March 2017

Tuesday 23 May 2017

 

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

  March 2016 March 2017 Change
Net earned premium $30.3 billion $31.8 billion +4.8%
Net incurred claims $19.4 billion $21.5 billion +10.9%
Underwriting result $2.9 billion $2.3 billion -22.0%
Investment income $1.4 billion $3.0 billion +108.8%
Net profit after tax $2.2 billion $2.6 billion +17.4%

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

  March 2016 March 2017 Change
Net loss ratio 64% 68% +4pp
Return on net assets 8.1% 9.4% +1.3pp
Prescribed capital amount coverage ratio 1.80x 1.80x unchanged

Refer to the 31 March 2017 Quarterly General Insurance Performance Statistics publication.

Statistics

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