The Australian Prudential Regulation Authority (APRA) has released its Life Insurance Institution-level Statistics publication for the year ending 31 December 2018.
The publication contains entity-level information on APRA-authorised life insurers’ financial performance, position and capital adequacy. It is compiled from audited annual returns submitted to APRA between 1 January 2018 and 31 December 2018.
The five largest life insurers by total industry assets:
| Rank | Life insurer | Total assets ($billion) | Market share | Regulatory capital as a % of requirement |
|---|---|---|---|---|
| 1 | AMP Life Limited | 98 | 43.6% | 220% |
| 2 | OnePath Life Limited | 42 | 18.7% | 141% |
| 3 | Challenger Life Company Limited | 19 | 8.5% | 153% |
| 4 | The Colonial Mutual Life Assurance Society Limited | 13 | 5.5% | 131% |
| 5 | Westpac Life Insurance Services Limited | 10 | 4.2% | 234% |
| Top 5 | 185 | 80.6% | n/a | |
| Total Industry | 226 | 100.0% | n/a |
Top five life insurers by reported net profit after tax (NPAT):
| Rank | Life insurer | Tax paid ($million) | NPTA ($million) | Share of total |
|---|---|---|---|---|
| 1 | Challenger Life Company Limited | 118 | 366 | 39.6% |
| 2 | Westpac Life Insurance Services Limited | 119 | 198 | 21.4% |
| 3 | TAL Life Limited | 85 | 179 | 19.3% |
| 4 | The Colonial Mutual Life Assurance Society Limited | 107 | 154 | 16.7% |
| 5 | Suncorp Life & Superannuation Limited | 65 | 100 | 10.8% |
| Top 5 | 494 | 996 | 107.8% | |
| Total Industry | 548 | 924 | 100.0% |
The December 2018 Life Insurance Institution-level Statistics publication is available on APRA’s website here.
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