Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

APRA Australian Prudential Regulation Authority : releases life insurance statistics for March 2016

05/16/2016 | 09:03pm EST

17 May 2016
16.14

The Australian Prudential Regulation Authority (APRA) today released its Quarterly Life Insurance Performance Statistics publication for the March 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 31 March 2016:
Net policy revenue $15.1 billion $15.7 billion +4.0%
Net policy revenue recognised as a deposit $45.2 billion $40.9 billion -9.5%
Net policy expenses $7.8 billion $8.1 billion +3.8%
Net policy expenses recognised as a withdrawal $53.1 billion $46.5 billion -12.4%
Net profit after tax $2.6 billion $3.0 billion +16.9%
Total assets $306.5 billion $293.3 billion -4.3%

Key ratios for the life insurance industry in the year ended 31 March 2016:

Return on net assets 11.4% 12.6% +1.3pp
Prescribed capital amount coverage ratio 1.71x 1.86x +0.15x

Copies of the March 2016 Quarterly Life Insurance Performance Statistics publication are available on APRA's website at:

www.apra.gov.au/lifs/Publications/Pages/quarterly-life-insurance-statistics.aspx

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 $5.4 trillion in assets for Australian depositors, policyholders and superannuation fund members.

Media and industry enquiries only:

Charlie Hooper
APRA Media Unit
Telephone: 02 9210 3636

All other inquiries:

APRAinfo: 1300 55 88 49

APRA - Australian Prudential Regulation Authority published this content on 17 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 17 May 2016 01:02:04 UTC.


ę Publicnow 2016
Latest news "Economy & Forex"
05:40pUK trade minister to seek closer ties on U.S. trip, deal remains distant
RE
05:27pAustralia's Boral exits U.S. with $755 million fly ash business sale
RE
03:23pCanada's Trans Mountain Says Oil Pipeline Was Safely Restarted Today
RE
03:23pTrans mountain says over the coming weeks trans mountain will continue with additional emergency work
RE
03:23pTrans mountain says restart comes after completion of necessary assessments, repairs, of protective earthworks needed for pipeline to be returned to service
RE
03:22pCanada's trans mountain says will monitor the line on the ground, by air and through our technology systems operated by control centre
RE
03:21pCanada's trans mountain says pipeline was safely restarted today
RE
03:14pU.s. cdc says as of dec 5, 46,299,869 people received a booster dose for covid-19 vaccine since august 13, 2021
RE
03:13pU.s. cdc says 198,962,520 individuals have been fully vaccinated against covid-19 as of dec 5 versus 198,592,167 individuals as of dec 4
RE
03:12pU.s. cdc says 235,698,738 individuals have received at least one dose of covid-19 vaccine as of dec 5 versus 235,297,964 individuals as of dec 4
RE
Latest news "Economy & Forex"