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Professional indemnity premiums down 4 per cent

APRA-regulated general insurers wrote $1,318 million of gross premium during the 2013 underwriting year, down 3.5 per cent from the previous year ($1,366 million). This premium related to about 601,000 PI risks written in the 2013 underwriting year, up 12.0 per cent from the previous year (about 537,000). APRA has released the National Claims and Policies Database (NCPD) figures for Professional Indemnity and

Life Insurance Online

5 Things to Consider When Buying Life Insurance

Life insurance provides the financial means to preserve your way of life, or that of your family, in the event of an accident, serious illness or even death. But what things should you consider before you embark on your search for cover. 1.Don’t always buy the cheapest If your on a budget remember that premiums change depending on your age, they may rise as you get older so you want to consider the average premium paid over the period the insurance is to

Life Insurers Profit Drops by 25%

The latest Life Insurance performance statistics release by the Australian Prudential Regulation Authority (APRA) shows a decline in profit despite an increase in revenue. For the twelve months to 30 September 2013  the industry net profit after tax was $2.2 billion, a decrease of 26.5 per cent from the previous year’s profit of $3.1 billion.The September 2013 quarter profit was $441 million compared with the June 2013 quarter profit of $391 million(representing a 12.8 per cent increase) and

Two Senior Appointments At The Australian Prudential Regulation Authority

The Australian Prudential Regulation Authority (APRA) today announced two new senior appointments to the positions of Executive General Manager of the Diversified Institutions Division and Executive General Manager of the Supervisory Support Division. The current Executive General Manager of the Supervisory Support Division, Keith Chapman, has been appointed to the role of Executive General Manager of the Diversified Institutions Division. He replaces Wayne Byres who was recently appointed Secretary General of the Basel Committee on Banking

Life Insurance Revenue falling for Australian Life Insurers

APRA released the statistics publication, Quarterly Life Insurance Performance for September 2011 and it has shown a fall in Revenue for Australian Life Insurers Total revenue was $15,425 million compared with the previous year’s revenue of $23,017 million. The September 2011 quarter revenue was negative $4,353 million compared with the June 2011 quarter revenue of $2,121 million and the September 2010 quarter revenue of $11,719 million. The Australian Prudential

APRA Releases Quarterly General Insurance Performance Statistics

In The Australian Prudential Regulation Authority Quarterly General Insurance Performance Statistics released on 1 December APRA has reported a net earned premium for the industry in the September 2011 quarter was $6.7 billion, up from $6.6 billion in the previous quarter. Outwards reinsurance expense increased to $2.3 billion in the September 2011 quarter from $2.1 billion in the June 2011 quarter. The Australian Prudential Regulation Authority (APRA) oversees banks,

APRA provides performance stats for General Insurance

The Quarterly General Insurance Performance Statistics publication produced by APRA is available to view on their website. The publication provides industry aggregate summaries of financial performance, financial position, capital adequacy and key ratios. For 2011, you can download the March 2011 and June 2011 issue. The September The data for these publications are sourced from regulatory returns submitted to APRA under the Financial Sector (Collection of Data) Act 2001 by authorised General Insurance companies. Statistics on

QBE to complete issue of securities

QBE will settle and complete the issue of securities on 24th May, after it has announced US placement of $1 billion in subordinate debt. QBE, known as Australia’s biggest insurance group as well as listed in the top 25 Global insurers, will release the debt notes to US institutional investors and will not be offered for sale in Australia. QBE is looking to strengthen its balance sheet and provide funds for

Evaluate your travel insurance before you holiday

We take great time and care to plan our holiday itinerary and pack all the right things into our suitcase but what about our travel insurance? Do you opt for whatever is the easiest or cheapest option available at our travel agent? And how many of us actually take the time to read through what is covered in our travel insurance policy? You never think something bad is going to happen on holiday, but what if

Who is Hollard Insurance Group

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