APRA releases life insurance statistics for 2017/18 financial year
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
Media enquiries
Contact APRA Media Unit, on +61 2 9210 3636
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, 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.