APRA’s intermediated general insurance statistics for June 2021
September 29, 2021
The Australian Prudential Regulation Authority (APRA) has released its bi-annual intermediated general insurance statistics for June 2021.
The statistics have revealed that intermediaries have placed over $29 billion in gross written premium in the 12 months to 30 June 2021. Insurance brokers have placed 50 per cent of premium placed with APRA authorised insurers.
The Intermediated General Insurance Statistics publication provides an overview of intermediated general insurance placed with APRA-authorised general insurers, Lloyd’s underwriters and unauthorised foreign insurers (UFIs).
| Business by intermediaries and authorised insurers | |||||
| Six months ended | |||||
| Jun 2019 | Dec 2019 | Jun 2020 | Dec 2020 | Jun 2021 | |
| Intermediated general insurance business | |||||
| Total premium invoiced in the period of which: | 11,644 | 13,703 | 12,458 | 15,141 | 14,124 |
| Business placed with APRA-authorised general insurers ($m) | 9,724 | 11,155 | 10,240 | 12,088 | 11,689 |
| Business placed with Lloyd’s underwriters ($m) | 1,293 | 1,660 | 1,393 | 1,995 | 1,642 |
| Business placed with unauthorised foreign insurers ($m) | 626 | 889 | 825 | 1,058 | 793 |
| Total number of intermediaries of which: | 1,657 | 1,667 | 1,656 | 1,656 | 1,666 |
| Number that placed business with an underwritera of whichb: | 767 | 785 | 785 | 775 | 760 |
| Number that placed business with APRA-authorised general insurers | 728 | 742 | 750 | 741 | 728 |
| Number that placed business with Lloyd’s underwriters | 270 | 297 | 284 | 299 | 306 |
| Number that placed business with unauthorised foreign insurers | 81 | 83 | 88 | 97 | 94 |
| Number that placed business only through other Australian intermediaries | 24 | 25 | 24 | 33 | 25 |
| Number of intermediaries that placed no business | 866 | 857 | 847 | 848 | 881 |
| Total premium effectivec in the period of which: | 12,311 | 13,009 | 13,426 | 14,070 | |
| Business placed with APRA-authorised general insurers ($m) | 10,180 | 10,657 | 10,815 | 11,538 | |
| Business placed with Lloyd’s underwriters ($m) | 1,370 | 1,598 | 1,637 | 1,743 | |
| Business placed with unauthorised foreign insurers ($m) | 761 | 754 | 974 | 789 | |
Copies of the June 2021 Intermediated General Insurance Statistics publication are available on APRA’s website.