APRA releases intermediated general insurance statistics for June 2022

The Australian Prudential Regulation Authority (APRA) has released its half-yearly Intermediated General Insurance Performance Statistics for June 2022.

Across the first half of 2022, the industry reported a total of $16.581 billion in invoiced premiums, a 17.4 per cent increase on the invoice premiums recorded for the same period in 2021 ($14.124 billion).

$13.7 billion in invoiced premiums were placed with APRA-authorised general insurers, while $1.8 billion were placed with Lloyd’s underwriters.

Out of a total of 1,662 intermediaries, 711 are reported to have placed business with an underwriter. 931 intermediates are reported to have placed no business, which marks an increase compared to 2021 figures.

APRA also provided new statistics on the previous period, reporting that 51 per cent of gross written premiums with APRA-authorised insurers were placed by intermediaries in the second half of 2021.

Copies of the June 2022 quarterly publications are available on APRA’s website at  www.apra.gov.au/statistics.