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 2018 Dec 2018 Jun 2019 Dec 2019 Jun 2020
Intermediated general insurance business
Total premium invoiced in the period
of which:
10,448 11,685 11,572 13,670 11,452
Business placed with APRA-authorised general insurers ($m) 8,890 9,571 9,661 11,155 9,272
Business placed with Lloyd’s underwriters ($m) 1,079 1,370 1,285 1,660 1,358
Business placed with unauthorised foreign insurers ($m) 478 744 626 856 821
Total number of intermediaries
of which:
1,654 1,657 1,657 1,668 1,662
  Number that placed business with an underwritera
of whichb:
808 797 766 784 776
      Number that placed business with APRA-authorised
general insurers
763 746 727 742 741
      Number that placed business with Lloyd’s
underwriters
271 286 269 298 277
      Number that placed business with unauthorised foreign
insurers
76 84 81 82 82
    Number that placed business only through
other Australian intermediaries
28 30 24 25 25
    Number of intermediaries that placed
no business
818 830 867 859 861
Total premium effectivec in the period
of which:
10,885 11,424 12,235 12,983
    Business placed with APRA-authorised general insurers ($m) 9,317 9,289 10,120 10,659
    Business placed with Lloyd’s underwriters ($m) 1,098 1,405 1,362 1,598
    Business placed with unauthorised foreign insurers ($m) 471 730 753 726
Total business written by APRA-authorised general insurers (excluding Lloyds)
Gross written premium – direct business ($m) 20,560 20,413 21,393 21,877 21,902
Proportion of APRA-authorised insurer gross written premium placed by intermediaries (per cent) 45 per cent 46 per cent 47 per cent 49 per cent
a 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.