APRA INTERMEDIATED GENERAL INSURANCE STATISTICS-JUNE2020

The Australian Prudential Regulation Authority (APRA) has released its biannual intermediated general insurance statistics for June 2020 which contain industry level data relating to business placed by intermediaries.

APRA publishes statistics on intermediated general insurance placed with APRA-authorised general insurers, Lloyd’s underwriters and unauthorised foreign insurers, on a bi-annual basis.

Business by intermediaries and authorised insurers
Six months ended
Jun 2018Dec 2018Jun 2019Dec 2019Jun 2020
Intermediated general insurance business
Total premium invoiced in the period
of which:
10,44811,68511,57213,67011,452
Business placed with APRA-authorised general insurers ($m)8,8909,5719,66111,1559,272
Business placed with Lloyd’s underwriters ($m)1,0791,3701,2851,6601,358
Business placed with unauthorised foreign insurers ($m)478744626856821
Total number of intermediaries
of which:
1,6541,6571,6571,6681,662
  Number that placed business with an underwritera
of whichb:
808797766784776
      Number that placed business with APRA-authorised
general insurers
763746727742741
      Number that placed business with Lloyd’s
underwriters
271286269298277
      Number that placed business with unauthorised foreign
insurers
7684818282
    Number that placed business only through
other Australian intermediaries
2830242525
    Number of intermediaries that placed
no business
818830867859861
Total premium effectivec in the period
of which:
10,88511,42412,23512,983
    Business placed with APRA-authorised general insurers ($m)9,3179,28910,12010,659
    Business placed with Lloyd’s underwriters ($m)1,0981,4051,3621,598
    Business placed with unauthorised foreign insurers ($m)471730753726
Total business written by APRA-authorised general insurers (excluding Lloyds)
Gross written premium – direct business ($m)20,56020,41321,39321,87721,902
Proportion of APRA-authorised insurer gross written premium placed by intermediaries (per cent)45 per cent46 per cent47 per cent49 per cent
Business placed with an underwriter either directly or through a foreign intermediary.
b The number of intermediaries that placed business with an underwriter is not equal to the sum of the numbers of intermediaries that placed business with APRA-authorised general insurers, Lloyd’s underwriters and unauthorised foreign insurers. Many intermediaries placed business with a variety of underwriters.
c Business placed by intermediaries is typically invoiced after the policy is effective. The premium effective for a six month period includes premium that is invoiced in the following six month period. As such, premium effective is published with a six month lag compared to premium invoiced and will be available in the next period. This is also the case with the proportion of APRA-authorised insurer gross written premium placed by intermediaries.

You can access more information on the APRA website.