Insurers’ gross incurred claims fell 15% in the year to March 31 following fewer natural disasters, according to Australian Prudential Regulation Authority (APRA) industry data.

The figure was $24.48 billion, down from $28.76 billion the previous year, the latest general insurance performance statistics show.

Gross claims for fire and industrial special risks (ISR) dropped to $1.29 billion from $2.83 billion, while the segment’s gross written premium (GWP) grew 7% to $3.78 billion.

The 109 insurers and 12 reinsurers licensed by APRA reported a collective 7% rise in GWP to $39.2 billion.

Although gross incurred claims were high in 2011/12, the impact on net claims was moderated by increased reinsurance recoveries, the report says.

APRA-regulated reinsurers wrote GWP of $2.16 billion in the year to March, up 4%, and gross incurred claims fell to $887 million from $2.78 billion.

Insurers earned GWP of $6.82 billion from household policies, up 15%, while gross incurred claims fell 6% to $3.57 billion.

The collective net loss ratio for the year was 57%, compared with 62%. The March quarter combined ratio was 111%.

The net loss ratio for fire and ISR fell to 50% from 59% for the year, while the quarterly combined ratio was 118%.

Commercial motor vehicle GWP was $1.97 billion, up 3%, and gross claims were $1.3 billion, up 2%. The annual net loss ratio was 70%, compared with 71%. The quarterly combined ratio was 94%.

Domestic motor vehicle GWP was $7.58 billion, up 6%, while gross incurred claims fell 3% to $5.02 billion. The net loss ratio fell to 72% from 75% and the quarterly combined ratio was 91%.

Compulsory third-party motor earned GWP of $3.16 billion, up 8%, and incurred steady gross claims of $2.76 billion. The annualised net loss ratio fell to 91% from 98%, while the quarterly combined ratio was 104%.

APRA’s latest bulletin includes 25 more statistics following consultations with insurers about published information and the new life and general insurance capital standards.

Additions include operating income and expenses, solvency and statistics on class of business. Some historic data has been revised because insurers have resubmitted information.