Life sector remains strong

The life insurance remains one of the more buoyant sectors of the financial services industry, according to the latest data released by the Australian Prudential Regulation Authority (APRA).

The APRA data for the 12 months to 31 December, last year, revealed net profit after tax was $3 billion — an increase of 15.2 per cent, albeit that the December quarter data revealed a 7.9 per cent decline when compared to the same period in 2011.

The APRA analysis said total revenue mainly comprised investment revenue of $26.8 billion.

It said that total assets were $247.3 billion, and that of total assets $115.8 billion were invested in equities, $86 billion in debt securities, $16.5 billion in investment properties and $17.4 billion in cash and deposits.




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