Disability income insurers lost money across individual and group policies in the year to June 30, according to the latest Australian Prudential Regulation Authority figures.

The individual disability income segment lost $352 million after tax, compared with a $272 million loss the previous year.

The group disability income segment lost $34 million after tax, an improvement on the $47 million loss of the previous year.

Individual lump sum recorded after-tax profit of $755 million, up from $643 million.

Group lump sum also recorded an increase in after-tax profit, to $49 million from $3 million.

Gross policy revenue was up across all segments, with individual lump sum recording $6 billion, compared with $5.7 billion.

Group lump sum gross policy revenue grew to $391 million from $272 million.

Both individual and group disability income insurance made gains in gross policy revenue.

Individual revenue was up to $2.6 billion from $2.5 billion, while group moved to $495 million from $466 million.

Most segments reported increases in total expenses, but individual lump sum total expenses fell to $3.8 billion from $3.9 billion.

Group lump sum expenses grew to $245 million from $223 million.

Individual disability income expenses increased to $2.7 billion from $2.6 billion, while the group segment’s expenses moved to $413 million from $404 million.

Overall, the life insurance industry’s net after-tax profit was $2.7 billion in the year to June 30, up from $2.1 billion the previous year.