General insurance intermediaries invoiced about $18.49 billion in premium in the first six months of the year, up from $16.6 billion a year earlier, the Australian Prudential Regulation Authority (APRA) says in a bi-annual update today.

Business placed with all three insurance providers – APRA-authorised general insurers, Lloyd’s underwriters and unauthorised foreign insurers (UFIs) – grew during the period.

Invoiced premium to general insurers increased to $15.14 billion from $13.73 billion, Lloyd’s underwriters to $2.19 billion from $1.8 billion and UFIs to $1.15 billion from $1.05 billion.

The half-year intermediated data is based on input from 1681 intermediaries who are current Australian Financial Services Licence holders authorised to deal in general insurance products. APRA does not provide a breakdown by intermediary type.

Business placed with UFIs by region shows 56% or $643 million of premium went to Singapore-based UFIs, 20% or $234 million to the UK and 10% or $116 million to Continental Europe. UFIs grouped in “other countries” wrote 10% of premium and Bermuda 4% or $48 million.

Fire and industrial special risk (ISR) accounted for 66% or $756 million of premium placed with UFIs, with the lion’s share going to Singapore at $546 million.

Products groups in “other direct classes” made up 19% or $220 million of invoiced premium to UFIs, professional indemnity 7% or $75 million, and public and product liability 5% or $54 million.