The Australian Prudential Regulation Authority (APRA) has today released its Life Insurance Institution-level Statistics publication for the year ending 30 June 2018.
The publication contains entity-level information on APRA-authorised life insurers’ financial performance, position and capital adequacy. This publication is compiled from audited annual returns submitted to APRA between 1 July 2017 and 30 June 2018.
The five largest life insurers by total industry assets:
| Rank | Life insurer | Total assets ($billion) | Market share | Regulatory capital as a % of requirement |
|---|---|---|---|---|
| 1 | AMP Life Limited | 107.1 | 46.3% | 272% |
| 2 | OnePath Life Limited | 41.2 | 17.8% | 163% |
| 3 | Challenger Life Company Limited | 19.2 | 8.3% | 153% |
| 4 | The Colonial Mutual Life Assurance Society Limited | 12.5 | 5.4% | 131% |
| 5 | Westpac Life Insurance Services Limited | 8.9 | 3.8% | 249% |
| Top 5 | 188.9 | 81.6% | n/a | |
| Total industry | 231.6 | 100.0% | n/a |
Top five life insurers by reported net profit after tax (NPAT):
| Rank | Life insurer | Tax paid ($million) | NPAT ($million) | Share of total |
|---|---|---|---|---|
| 1 | AMP Life Limited | 674 | 565 | 22.5% |
| 2 | Challenger Life Company Limited | 118 | 366 | 14.5% |
| 3 | Swiss Re Life & Health Australia Limited | 37 | 262 | 10.4% |
| 4 | Westpac Life Insurance Services Limited | 103 | 217 | 8.6% |
| 5 | TAL Life Limited | 85 | 179 | 7.1% |
| Top 5 | 1,017 | 1,588 | 63.1% | |
| Total industry | 1,724 | 2,516 | 100.0% |
The June 2018 Life Insurance Institution-level Statistics publication is available on APRA’s website at: https://www.apra.gov.au/publications/life-insurance-institution-level-statistics