APRA released the statistics publication, Quarterly Life Insurance Performance for September 2011 and it has shown a fall in Revenue for Australian Life Insurers
Total revenue was $15,425 million compared with the previous year’s revenue of $23,017 million. The September 2011 quarter revenue was negative $4,353 million compared with the June 2011 quarter revenue of $2,121 million and the September 2010 quarter revenue of $11,719 million.
The Australian Prudential Regulation Authority (APRA) oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, friendly societies and most members of the superannuation industry. APRA is funded largely by the industries that it supervises. It was established on 1 July 1998.
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