Noble Oak Life reported a $2.4 million after-tax loss for last financial year, while other friendly societies selling funeral and insurance bonds recorded positive results, according to an Australian Prudential Regulation Authority industry report.

Lifeplan made the largest after-tax profit among friendly societies, at $7 million, followed by Austock with $1.6 million.

Foresters Friendly Society recorded the largest after-tax loss, at $2.6 million.

Over Fifty Guardian and Sureplan made after-tax profits of $120,000 and $279,000 respectively.

Noble Oak reported total revenue of $29 million for the financial year, while Lifeplan topped the list with $122 million.

Austock had revenue of $32 million, Over Fifty Guardian recorded $22 million, Foresters made $16 million and Sureplan $10 million.

Life insurance premium generated by friendly societies totalled $10.4 million for the year to June 30.

Death and disability claims accounted for $6.3 million of the total $9.6 million paid out. Some $548 million of policies matured, while $246 million were terminated.

Friendly societies paid $3.8 million of upfront commissions and $7.4 million of trails.