APRA releases life insurance statistics for December 2018

The Australian Prudential Regulation Authority (APRA) has released its Life Insurance Institution-level Statistics publication for the year ending 31 December 2018.
The publication contains entity-level information on APRA-authorised life insurers’ financial performance, position and capital adequacy. It is compiled from audited annual returns submitted to APRA between 1 January 2018 and 31 December 2018.
The five largest life insurers by total industry assets:
RankLife insurerTotal assets ($billion)Market shareRegulatory capital as a % of requirement
1AMP Life Limited9843.6%220%
2OnePath Life Limited4218.7%141%
3Challenger Life Company Limited198.5%153%
4The Colonial Mutual Life Assurance Society Limited135.5%131%
5Westpac Life Insurance Services Limited104.2%234%
Top 518580.6%n/a
Total Industry226100.0%n/a
Top five life insurers by reported net profit after tax (NPAT):
RankLife insurerTax paid ($million)NPTA ($million)Share of total
1Challenger Life Company Limited11836639.6%
2Westpac Life Insurance Services Limited11919821.4%
3TAL Life Limited8517919.3%
4The Colonial Mutual Life Assurance Society Limited10715416.7%
5Suncorp Life & Superannuation Limited6510010.8%
Top 5494996107.8%
Total Industry548924100.0%
The December 2018 Life Insurance Institution-level Statistics publication is available on APRA’s website here.
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