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APRA releases life insurance statistics for September 2016

Tuesday 15 November 2016

 

16.44
 

The Australian Prudential Regulation Authority (APRA) today released its Quarterly Life Insurance Performance Statistics publication for the September 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 30 September 2016:

  September 2015 September 2016 Change
Net policy revenue $15.3 billion $16.3 billion +6.5%
Net policy revenue recognised as a deposit $43.3 billion $37.3 billion -13.8%
Net policy expenses $8.0 billion $8.5 billion +5.5%
Net policy expenses recognised as a withdrawal $51.0 billion $50.2 billion -1.7%
Net profit after tax $3.0 billion $2.6 billion -12.8%
Total assets $293.5 billion $225.5 billion -23.2%

Key ratios for the life insurance industry in the year ended 30 September 2016:

  September 2015 September 2016 Change
Return on net assets 13.3% 10.9% -2.4 pp
Prescribed capital amount coverage ratio 1.78x 1.80x +0.02x

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

Statistics

Media enquiries

Contact Ben McLean, APRA Media Unit, on +61 2 9210 3024

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, credit unions, building societies, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding $6.5 trillion in assets for Australian depositors, policyholders and superannuation fund members.