Some life reinsurers are still losing money, although their losses are easing, according to the latest company data from the Australian Prudential Regulation Authority.

The largest after-tax loss in the year to last June 30 was RGA Reinsurance at $24 million.

Munich Re lost $17 million, while new entrant to the Australian market Pacific Life Re lost $13 million.

Scor Global Life continues to lose money on its Australian operations, reporting a $2 million deficit.

But not all reinsurers are losing out: Swiss Re reported a $62 million after-tax profit, while Gen Re made $12 million and Hannover Re $3 million.

Swiss Re had the largest net policy revenue at $992 million, followed by RGA Reinsurance on $709 million, Hannover Re with $514 million and Munich Re at $505 million.

Gen Re recorded net policy revenue of $242 million for the year, while Scor reported $75 million and Pacific Life Re made $19 million.

All primary insurers made profits for the financial year, led by AMP with $575 million and OnePath on $455 million.

Global life insurers in Australia recorded much lower profits: AIA Australia $72 million; MetLife $66 million; Zurich $52 million; and Allianz $9 million.

TAL Life recorded the highest net policy revenue with $1.7 billion, followed by CommInsure on $1.5 billion for the year.

Of the global insurers, AIA recorded $1 billion net policy revenue, while MetLife made $629 million, Zurich $271 million and Allianz $40 million.