General insurance intermediaries including brokerages issued premium invoices totalling about $19.9 billion in the six months to June, according to an Australian Prudential Regulation Authority update.

The business placement with APRA-authorised insurers, Lloyd’s underwriters and unauthorised foreign insurers was up from $18.8 billion a year earlier but down from $21.2 billion in the preceding July-December period.

APRA says the June-half figure is based on data from 1589 intermediaries. In the year-earlier period, there were 1612.

Intermediaries placed most of their business with authorised insurers, invoicing $16.3 billion in the first six months of the year. Lloyd’s underwriters took $2.48 billion and unauthorised foreign insurers $1.13 billion.

Within the unauthorised foreign insurer space, Singapore dominated with a 61% share of invoiced premium, or $683 million. Britain came a distant second, on 21% or $233 million, followed by continental Europe at 8% or $92 million.

The rest of the business with unauthorised foreign insurers went to Bermuda ($35 million) and “other countries” ($83 million).

Most business with unauthorised foreign insurers related to fire and industrial special risk ($739 million). Other direct classes accounted for $209 million; professional indemnity $71 million; public and product liability $56 million; marine and aviation $30 million; and other accident $23 million.

The biannual APRA update does not provide a breakdown of intermediary by type.

Click here for the statistics.