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:
Rank | Life insurer | Total assets ($billion) | Market share | Regulatory capital as a % of requirement |
---|---|---|---|---|
1 | AMP Life Limited | 98 | 43.6% | 220% |
2 | OnePath Life Limited | 42 | 18.7% | 141% |
3 | Challenger Life Company Limited | 19 | 8.5% | 153% |
4 | The Colonial Mutual Life Assurance Society Limited | 13 | 5.5% | 131% |
5 | Westpac Life Insurance Services Limited | 10 | 4.2% | 234% |
Top 5 | 185 | 80.6% | n/a | |
Total Industry | 226 | 100.0% | n/a |
Top five life insurers by reported net profit after tax (NPAT):
Rank | Life insurer | Tax paid ($million) | NPTA ($million) | Share of total |
---|---|---|---|---|
1 | Challenger Life Company Limited | 118 | 366 | 39.6% |
2 | Westpac Life Insurance Services Limited | 119 | 198 | 21.4% |
3 | TAL Life Limited | 85 | 179 | 19.3% |
4 | The Colonial Mutual Life Assurance Society Limited | 107 | 154 | 16.7% |
5 | Suncorp Life & Superannuation Limited | 65 | 100 | 10.8% |
Top 5 | 494 | 996 | 107.8% | |
Total Industry | 548 | 924 | 100.0% |
The December 2018 Life Insurance Institution-level Statistics publication is available on APRA's website here.
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