Australia’s intermediate general insurance records AU$18.5b in June

This was 11.4% higher on a year-on-year basis.

In the six months to June, Australia’s general insurance total premiums grew 11.4% year-on-year (YoY) to AU$18.49b, data from the Australian Prudential Regulation Authority (APRA) showed.

This was a slower growth compared to the 17.5% YoY growth recorded in 2022. To further compare, as of December last year its total premium invoiced reached AU$18.50b.

In the end-June period, the total number of intermediaries inched up 1.4% YoY to 1,681.

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Meanwhile, in terms of business type, Fire and Industrial Special Risks (ISR) saw the largest share with AU$756m. This was followed by other direct classes (AU$220m), professional indemnity (AU$75m), and public and product liability (AU$54).