APRA publishes life insurance institution-level statistics
APRA publishes life insurance institution-level statistics | Insurance Business Australia
Life & Health
APRA publishes life insurance institution-level statistics
See how life insurers in Australia stack up
Life & Health
By
Terry Gangcuangco
The Australian Prudential Regulation Authority (APRA) has released the life insurance institution-level statistics for December 2022.
Life insurer
Balance date
Net profit/(loss) after tax
AIA Australia Limited
December 31
$4 million
Allianz Australia Life Insurance Limited
December 31
$(33 million)
Asteron Life & Superannuation Limited
March 31
$39 million
Challenger Life Company Limited
June 30
$264 million
ClearView Life Assurance Limited
June 30
$18 million
Combined Life Insurance Company of Australia Ltd
December 31
$(2 million)
General Reinsurance Life Australia Ltd
December 31
$4 million
H C F Life Insurance Company Pty Ltd
June 30
$(5 million)
Hallmark Life Insurance Company Ltd
December 31
$1 million
Hannover Life Re of Australasia Ltd
December 31
$(71 million)
Integrity Life Australia Limited
June 30
$5 million
MLC Limited
December 31
$103 million
Macquarie Life Limited
March 31
$(1 million)
MetLife Insurance Limited
December 31
$14 million
Munich Reinsurance Company of Australasia Limited
December 31
$(140 million)
Pacific Life Re (Australia) Pty Limited
December 31
$15 million
QInsure Limited
June 30
$18 million
RGA Reinsurance Company of Australia Limited
December 31
$(98 million)
RLNM Limited
December 31
$0 million
Resolution Life Australasia Limited
December 31
$223 million
SCOR Global Life Australia Pty Limited
December 31
$(2 million)
St Andrew’s Life Insurance Pty Ltd
August 31
$0 million
Swiss Re Life & Health Australia Limited
December 31
$(42 million)
TAL Life Insurance Services Limited
September 30
$(279 million)
TAL Life Limited
March 31
$158 million
Zurich Australia Limited
December 31
$119 million
OnePath Life, which transferred its business to Zurich Australia in August 2022, is excluded from the list. Meanwhile it was noted that AMP Life changed its name to Resolution Life Australasia and that Westpac Life Insurance Services was renamed to TAL Life Insurance Services.
“This publication is compiled primarily from regulatory returns submitted to APRA under the Financial Sector (Collection of Data) Act 2001 by authorised life insurance companies,” the watchdog said. “APRA-regulated life insurers are prudentially supervised under the Life Insurance Act 1995.
“Life insurer returns relate to the financial year-end of each insurer, which can occur on any date within the 12 months up to and including the reference date of the publication.”
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