A penny saved is a penny earned.
A new look at the APRA general insurance statistics reveals a decreasing expense rate for Australian insurers. Inside the latest APRA GI statistics d’finitive we assess the industry’s expenditures over the past three years and see what’s contributing to favourable results.
This d’finitive demonstrates:
- The total expense rate for direct insurers has been decreasing since 2009
- The underwriting expense rate has fallen as a result of premium growth outstripping expense growth
- Commission expenses have grown in line with gross premiums over the last two years
- Operating expenses have also been decreasing. Direct insurers’ focus on expense control initiatives should see this improvement continue.
This is the fourth APRA GI statistics d’finitive. Each edition explores a different aspect of the data. You can download the previous APRA GI statistics d’finitive editions:Download d'finitive