General insurers and reinsurers made a combined net profit of $4.52 billion in the last financial year, according to the latest company-level statistics from the Australian Prudential Regulation Authority.

The industry recorded gross earned premium of $41.06 billion and incurred gross claims of $26.2 billion.

The statistics cover company financial years ending on December 31, March 31, June 30 and September 30.

Insurers’ performances include:

• Allianz Australia reported gross earned premium of $3.76 billion, gross incurred claims of $2.4 billion and net profit of $309.99 million.
• CGU earned gross premium of $2.41 billion, incurred gross claims of $1.26 billion with a net profit of $227.43 million.
• IAG reported gross earned premium of $982.01 million, gross incurred claims of $1.03 billion and net profit of $161.82 million.
• QBE Australia’s gross earned premium was $4.25 billion, claims were $2.6 billion and net profit was $386.04 million.
• QBE International reported gross earned premium of $476.89 million, gross incurred claims of $192.05 million and net profit of $56 million.
• QBE Lenders Mortgage Insurance premiums totalled $274.48 million, claims were $64.37 million and net profit was $131.57 million.
• AAI (incorporating all Suncorp general insurance brands) earned premium of $7.68 billion, incurred gross claims of $5.71 billion and reported a net profit of $921.39 million.
• Hollard posted gross earned premium of $316.64 million and gross incurred claims of $185.37 million. Net profit was $12.76 million.
• Wesfarmers General Insurance (now part of IAG) had gross earned premium of $1.37 billion, gross incurred claims of $855.13 million and a net profit of $110.91 million.
• Zurich had gross earned premium of $1.29 billion, claims of $1.06 billion and a net profit of $99.18 million.
• Youi earned gross premium of $345.07 million, incurred gross claims of $206.63 million and recorded net profit of $24.42 million.
• Auto & General reported gross earned premium of $329.28 million, gross incurred claims of $202.44 million, and net profit of $18.08 million.
• WR Berkley had gross earned premium of $60.94 million, claims of $38.41 million and an overall loss of $11.37 million.
• Axis Specialty Europe posted gross earned premium of $72.94 million, claims of $75.38 million and an overall loss of $9.98 million.
• XL Insurance had gross earned premium of $96.63 million, claims of $51.52 million and an overall loss of $12.76 million.
• Progressive Direct reported gross earned premium of $13.44 million, gross incurred claims of $15.21 million and an overall loss of $9.52 million.

Reinsurer’s results include:

• Munich Re earned premium of $961.82 million, reported gross incurred claims of $245.78 million and achieved net profit of $63.61 million.
• Swiss Re had gross earned premium of $683.17 million, gross incurred claims of $276.82 million and net profit of $79.46 million.
• Hannover Re’s premium earnings totalled $199.79 million, while gross incurred claims were $204.74 million. Despite an underwriting loss the company reported a $10.92 million net profit due to investment income.
• Gen Re’s gross earned premium totalled $95.93 million and claims were $29.98 million. Net profit was $35.02 million.
• Berkley Re reported gross earned premium of $80.57 million, claims of $47.35 million and a profit of $12.72 million.