General insurers made a combined net profit of $5.72 billion in the last financial year, according to the Australian Prudential Regulation Authority.

The industry achieved gross earned premium of $38.95 billion and incurred net claims of $17.77 billion, the company-level statistics show.

The statistics cover business financial years ending on December 31, March 31, June 30 and September 30.

Suncorp Insurance earned gross premium of $1.24 billion for the year to June 30 and incurred net claims of $719.61 million, reporting a net profit of $364.77 million.

Suncorp stablemate AAMI earned gross premium of $2.23 billion and incurred net claims of $1.56 billion to report a net profit of $177.13 million. GIO recorded gross earned premium of $1.78 billion, net incurred claims of $1.06 billion and a net profit of $224.26 million.

Allianz earned gross premium of $3.37 billion in the year to December 31, incurred net claims of $1.91 billion and reported profit of $357.63 million.

QBE reports as three entities. QBE Australia posted $4.17 billion gross earned premium, $2.3 billion net incurred claims and $394.8 million net profit, while QBE International reported $405.46 million gross earned premium, $90.8 million net incurred claims and $34.93 million net profit.

QBE Lenders’ Mortgage Insurance reported gross earned premium of $234.37 million, net incurred claims of $60.82 million and net profit of $154.56 million.

IAG earned gross premium of $3.94 billion and incurred net claims of $1.33 billion, recording net profit of $371.68 million, while CGU reported gross earned premium of $2.33 billion, net incurred claims of $961.5 million and net profit of $245.16 million.

Insurance Manufacturers of Australia, which is 70% owned by IAG and 30% owned by RACV, reported gross earned premium of $2.88 billion, net incurred claims of $1.6 billion and net profit of $353.97 million.

Wesfarmers earned gross premium of $1.33 billion, incurred net claims of $745.53 million and recorded net profit of $73.06 million.

Among companies making a loss was Progressive Direct, which recorded gross earned premium of $6.81 million, net incurred claims of $7.04 million and a net loss of $12.7 million. XL Insurance recorded gross earned premium of $91.54 million, net incurred claims of $32.02 million and a net loss of $10.29 million.

Swiss Re reported gross earned premium of $633.67 million, net incurred claims of $29.88 million and net profit of $267.78 million.

Munich Re earned gross premium of $965.2 million and incurred net claims of $284.83 million, reporting net profit of $203.16 million.

Hannover Re reported gross earned premium of $183.53 million, net incurred claims of $129.8 million and net profit of $58.43 million, while Gen Re reported gross earned premium of $89.2 million, net incurred claims of $6.61 million and net profit of $46.66 million.