Australia's general insurance premiums rise 5.7% in H1 2024

The number of intermediaries inched down 1.4%.

The premiums of Australia’s general insurance sector climbed 5.7% year-on-year (YoY) in the six months to June (H1 2024), reaching $13.73b (A$19.9b), data from the Australian Prudential Regulation Authority (APRA) showed.  

Meanwhile, the total number of intermediaries inched down 1.4% YoY to 1,589.  

Additionally, premiums of the APRA-authorised general insurers increased 5.8% YoY to $11.25b (A$16.3b). Business placed with Lloyd’s underwriters jumped 11.3% to $1.73b (A$2.5b).

($1.00 = A$1.44)