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APRA releases life insurance statistics for December 2016

Tuesday 14 February 2017

 

The Australian Prudential Regulation Authority (APRA) today released its Quarterly Life Insurance Performance Statistics publication for the December 2016 quarter.

The Quarterly Life Insurance Performance Statistics publication provides industry aggregate summaries of financial performance, financial position, capital adequacy and key ratios in a time series.

Key performance statistics for the life insurance industry in the year ended 31 December 2016:

  December 2015 December 2016 Change
Net policy revenue $15.5 billion $16.8 billion +8.4%
Net policy revenue recognised as a deposit $41.2 billion $32.6 billion -21.0%
Net policy expenses $8.1 billion $8.8 billion +8.4%
Net policy expenses recognised as a withdrawal $44.5 billion $45.9 billion +3.2%
Net profit after tax $3.2 billion $2.3 billion -26.8%
Total assets $298.8 billion $225.4 billion -24.6%

Key ratios for the life insurance industry in the year ended 31 December 2016:

  December 2015 December 2016 Change
Return on net assets 13.5% 9.4% -4.1 pp
Prescribed capital amount coverage ratio 1.86x 1.92x +0.06x

Refer to the December 2016 Quarterly Life Insurance Performance Statistics publication.

Statistics

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