The latest Life Insurance performance statistics release by the Australian Prudential Regulation Authority (APRA) shows a decline in profit despite an increase in revenue.
For the twelve months to 30 September 2013 the industry net profit after tax was $2.2 billion, a decrease of 26.5 per cent from the previous year’s profit of $3.1 billion.The September 2013 quarter profit was $441 million compared with the June 2013 quarter profit of $391 million(representing a 12.8 per cent increase) and the September 2012 quarter profit of $752 million.
LI Quarterly Publication 20130930
Registered Life Insurance Companies
- AIA Australia Limited
- Allianz Australia Life Insurance Limited
- AMP Life Limited
- Challenger Life Company Limited
- ClearView Life Assurance Limited
- Colonial Mutual Life Assurance Society Limited (The)
- Combined Life Insurance Company of Australia Ltd
- General Reinsurance Life Australia Ltd
- GLOBAL Life Reinsurance Company of Australia Pty. Limited
- Hallmark Life Insurance Company Ltd.
- Hannover Life Re of Australasia Ltd
- H C F Life Insurance Company Pty Limited
- Macquarie Life Limited
- MetLife Insurance Limited
- MLC Limited
- Munich Reinsurance Company of Australasia Limited
- OnePath Life Limited
- QBE Life (Australia) Limited
- RGA Reinsurance Company of Australia Limited
- SCOR Global Life Australia Pty Limited
- St Andrew’s Life Insurance Pty Ltd
- St. George Life Limited
- Suncorp Life & Superannuation Limited
- Swiss Re Life & Health Australia Limited
- TAL Life Limited
- The National Mutual Life Association of Australasia Limited
- Westpac Life Insurance Services Limited
- Zurich Australia Limited
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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