The Australian Prudential Regulation Authority (APRA) has released its latest bi-annual intermediated general insurance statistics covering the six months to December 2021 (H2 FY21)
The publication provides an overview of intermediated general insurance placed with APRA-authorised general insurers, Lloyd's underwriters, and unauthorised foreign insurers (UFIs).
According to APRA's latest data, the Australian general insurance industry's total premium invoiced in H2 FY21 was $17,162 million, up from $14,124 million in the six months ended June 2021 (H1 FY21).
Specifically, the total premium invoiced in H2 FY21 of which business was placed with APRA-authorised general insurers was $13,637 million (up from $11,689 million in H1 FY21), with Lloyd's underwriters was $2,331 million (up from $1,642 million), and with UFIs was $1,193 million (up from $793 million).
Overall, the gross written premium (GWP) – direct business by APRA-authorised general insurers (excluding Lloyd's) for H1 FY21 totalled $25,875 million, up from $24,362 million during the first half of 2021.
Read more: APRA releases 2021 Year in Review
The number of intermediaries for H2 FY21 totalled 1,665, down from 1,666 in H1 FY21. Among all intermediaries, those that placed business with an underwriter totalled 711 (down from 760 in H1 FY21), of which:
Those that placed business only through other Australian intermediaries during the same period totalled 29, up from 25 in H1 FY21. Meanwhile, the number of intermediaries that placed no businesses totalled 925, up from 881 in H1 FY21.
The release of APRA's latest bi-annual intermediated general insurance statistics follows the release of APRA's Q4 2021 private health insurance and Q4 2021 life insurance statistics.
