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 ($billion)||Market share||Regulatory capital as a % of requirement|
|1||AMP Life Limited||98||43.6%||220%|
|2||OnePath Life Limited||42||18.7%||141%|
|3||Challenger Life Company Limited||19||8.5%||153%|
|4||The Colonial Mutual Life Assurance Society Limited||13||5.5%||131%|
|5||Westpac Life Insurance Services Limited||10||4.2%||234%|
Top five life insurers by reported net profit after tax (NPAT):
|Rank||Life insurer||Tax paid ($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%|
The December 2018 Life Insurance Institution-level Statistics publication is available on APRA’s website here.
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