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.”