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APRA releases life insurance statistics for March 2018

Thursday 24 May 2018

The Australian Prudential Regulation Authority (APRA) today released its Quarterly Life Insurance Performance Statistics publication for the March 2018 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:

 

12 months to March 2017 12 months to March 2018 Change
Net policy revenue $15.5 billion $17.3 billion +12.0%
Investment revenue $19.0 billion $12.3 billion -35.1%
Total revenue $37.6 billion $33.1 billion -12.0%
Net policy expenses $9.2 billion $9.8 billion +6.7%
Operating expenses $8.7 billion $8.8 billion +1.9%
Effective movement in net policy liabilities $15.7 billion $10.8 billion -31.3%
​Total expenses ​$33.6 billion $29.6 billion​ -11.9%​
​Net profit after tax ​$2.3 billion $2.2 billion​ -3.5%​
​Total assets $227.1 billion​ $230.1 billion​ +1.3%​​

 

Risk product net profit after tax for the life insurance industry:

  12 months to March 2017 12 months to March 2018 March 2018 quarter only
Individual lump sum risk $762 million $1,085 million $174 million
Individual disability income insurance -$424 million -$146 million -$4 million
Group lump sum risk $263 million $248 million $53 million
​Group disability income insurance ​$79 million ​$120 million ​$28 million

 

Key ratios for the life insurance industry:

  12 months to March 2017 12 months to March 2018 Change
Return on net assets 9.2% 8.7% -0.5 pp
Prescribed capital amount coverage ratio 1.79x 1.87x +0.08x

 

Copies of the March 2018 Quarterly Life Insurance Performance Statistics publication are available on APRA’s website.

Statistics

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