APRA releases intermediated general insurance statistics for December 2016
The Australian Prudential Regulation Authority (APRA) today released its Intermediated General Insurance Statistics publication for the six months to December 2016.
The Intermediated General Insurance Statistics publication provides an overview of intermediated general insurance placed with APRA-authorised general insurers, Lloyd's underwriters and unauthorised foreign insurers (UFIs). The statistical tables include detailed information about risks placed with UFIs.
Key statistics for the intermediated general insurance industry in the year ended 31 December 2016:
| December 2015 | December 2016 | Change | |
|---|---|---|---|
| Premium placed with APRA-authorised general insurers | $15,532 million | $15,589 million | +0.4% |
| Premium placed with Lloyd’s underwriters | $1,764 million | $1,852 million | +5.0% |
| Premium placed with UFIs | $1,342 million | $1,071 million | -20.2% |
| Of which: Fire and industrial special risks | $829 million | $614 million | -25.9% |
Refer to the December 2016Intermediated General Insurance Statisticspublication.
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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.