Life insurers return mixed financial results: APRA data
Australia’s key life insurance providers achieved mixed earnings results, based on data lodged with the Australian Prudential Regulation Authority (APRA) for financial years ended in the 12 months to June 30.
AIA Australia made a net loss of $128 million, Asteron Life & Superannuation $218 million and MLC $243 million.
In the black are AMP, which returned a net profit of $234 million, Challenger Life Company $628 million, TAL $99 million, Zurich $105 million and MetLife $13 million.
Here are the results (in alphabetical order):
- AIA Australia booked net policy revenue of $1.04 billion, net policy expenses of $688 million and $128 million in net loss
- AMP Life recorded $795 million in net policy revenue, $1.5 billion in net policy expense and $234 million in net profit
- Asteron Life & Superannuation booked net policy revenue of $493 million, net policy expense of $228 million and $218 million in net loss
- Challenger Life Company posted $1.6 billion in net policy revenue, $853 million in net policy expense and $628 million in net profit
- ClearView Life had net policy revenue of $177 million, net policy expense of $45 million and net profit of $11 million
- MetLife Insurance had net policy revenue of $585 million, net policy expense of $382 million and net profit of $13 million
- MLC recorded net policy revenue of $1.4 billion, net policy expense of $965 million and net loss of $243 million
- OnePath Life had $818 million in net policy revenue, $503 million in net policy expense and $8 million in net loss
- TAL logged $2.03 billion in net policy revenue, $1.19 billion in net policy expense and $99 million in net profit
- Zurich had $558 million in net policy revenue, $153 million in net policy expense and $105 million in net profit.