The Australian Prudential Regulation Authority (APRA) has released its Quarterly Life Insurance Performance Statistics publication for the March 2019 quarter.
The Quarterly Life Insurance Performance Statistics publication provides industry aggregate summaries of financial performance, financial position, capital adequacy and key ratios.
Key performance statistics for the life insurance industry in the year ended 31 March:
March 2018 | March 2019 | Change | |
|---|---|---|---|
Net policy revenue | $17.3 billion | $17.4 billion | +0.3% |
Investment revenue | $12.3 billion | $15.4 billion | +25.3% |
Total revenue | $33.1 billion | $36.7 billion | +10.9% |
Net policy expenses | $9.8 billion | $10.2 billion | +3.9% |
Operating expenses | $8.8 billion | $9.5 billion | +6.9% |
Effective movement in net policy liabilities | $10.8 billion | $14.6 billion | +35.5% |
Total expenses | $29.6 billion | $34.8 billion | +17.5% |
Net profit after tax | $2.2 billion | $0.8 billion | -65.1% |
Total assets | $230.1 billion | $231.9 billion | +0.8% |
Risk product net profit after tax for the life insurance industry in the year ended 31 March:
March 2018 | March 2019 | Change | |
|---|---|---|---|
Individual lump sum | $1,085.2 million | $654.3 million | $333.6 million |
Individual disability income insurance | -$145.8 million | -$782.0 million | -$219.1 million |
Group lump sum | $247.7 million | $100.0 million | $59.5 million |
Group disability income insurance | $120.3 million | -$66.2 million | -$50.3 million |
Key ratios for the life insurance industry in the year ended 31 March:
March 2018 | March 2019 | Change | |
|---|---|---|---|
Return on net assets | 8.7% | 3.0% | -5.7 percentage points |
Prescribed capital amount coverage ratio | 1.87x | 1.79x | -0.08x |
Please refer to the ‘highlights’ section in the Quarterly Life Insurance Performance Statistics publication for an analysis of material movements in the key performance statistics.
The March 2019 Quarterly Life Insurance Performance Statistics publication is available on the APRA’s website .
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