The general insurance industry after-tax profit declined to $1.72 billion in the December quarter from $2.08 billion in the September period amid a drop in investments, while the householders class posted a third straight quarter in positive territory, prudential data shows. 

Total insurance revenue rose 1.5% to $19.5 billion, with the insurance service result, a measurement of underwriting performance, slightly weaker at $2.17 billion compared to $2.21 billion. 

The investment result, which has moved around significantly from quarter to quarter over the past calendar year, eased to $998 million from $1.84 billion. 

The Australian Prudential Regulation Authority quarterly report includes breakdowns by long- and short-tail classes, with the householders result closely watched after a poor performance in recent years. It returned to profit in the June quarter as GWP rose and claims pressures eased. 

In the December quarter householders gross written premium rose to $4.22 billion from $3.97 billion in the preceding three months, the number of risks written increased to 3.15 million from 3.1 million, while incurred claims increased to $2.1 billion from $1.79 billion. 

The insurance service result eased to $208 million from $416 million. In the year-earlier December quarter it made a $681 million loss. 

The net combined ratio for short-tail property overall, which includes householders, domestic motor, commercial motor, and fire and industrial special risks, was steady at 88.1%. 

A total of 88 entities were included in the December report, down from 89 in the September quarter. 

The statistics are available here.