General insurance intermediaries placed about $11.5 billion of premium in the June half, according to an update from the Australian Prudential Regulation Authority (APRA).

Around $9.3 billion of the premium went to APRA-authorised insurers. The rest were conducted with Lloyd’s underwriters, at $1.4 billion, and unauthorised foreign insurers (UFIs), at $821 million.

The APRA update is based on data collected from 1662 licensed intermediaries during the period.

In the UFI space, fire and industrial special risk (ISR) accounted for more than half of the business placed, at $514 million. Other direct classes came in a distant second on $169 million, followed by professional indemnity on $72 million and marine and aviation on $19 million.

The high-value insured exemption was used to place $600 million of business with UFIs, atypical exemption $36 million, foreign exemption $30 million and custom exemption $156 million.

There were 5624 new or renewed policies with UFIs during the period and the average premium across all exemption types and classes of business was $145,000. Fire and ISR has the highest premium with an average of $1.4 million per policy.

Singapore-based UFIs had the largest share of invoiced premiums during the period, taking in some $509 million of business placed by the intermediaries. Next was the UK, on $104 million, followed by UFIs grouped as “other countries”, on $72 million and continental Europe, on $70 million.