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General Insurance Insights Dashboard

General Insurance Insights Dashboard

The interactive dashboards provide a summary of key performance statistics, separately by Institution and Product Class.

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The Dashboards which accompany the General Insurance Industry Review report contain a range of interactive charts and graphs presenting the key industry performance metrics for the past 5 years.

Following the release of the APRA data on 4 March, our Product Level Dashboard has been updated using data as at 31 December 2020. Our Institutional Dashboard uses data as at 30 June 2020.

Two views of the industry statistics are presented:


All data has been sourced from the APRA General Insurance publications. Further information on methodology is provided within each Dashboard.

The interactive dashboards allow you to view the data at various levels. The Institution Level Dashboard also enables you to compare an individual insurer’s metrics with another insurer, and to all insurers operating in the same market segment.

Product Level Dashboard commentary

The following key high level observations are from our Product Level Dashboard (last updated March 2021):

Gross Written Premium (GWP)

  • In the 12 months to 31 December 2020, GWP has increased by 5.9%. Noting that CTP, Travel and Employers Liability have shown reduction in GWP this flags a continued hardening in the market.
  • Across the major personal and commercial classes of business excluding CTP, Other and Employers Liability, GWP has increased by 8.4% driven by growth across the commercial classes. In particular, Commercial Property and Professional Indemnity have seen premium growth rates of 12.5% and 22.2% respectively. These increases have been driven by both increases in premium rate and number of risks written, for instance Commercial Property has seen an increase in 5% in number of risks and 7% in average premiums, compared to the prior 12 months. In particular, the increase in the number of risks can be attributed to the increase in the December quarter, reflecting improvements in the COVID-19 situation.
  • Commercial Motor Vehicle has seen growth in line with the overall average, with an increase in the number of risks offset by a decrease in the average premium.
  • Personal lines business has seen growth in line with the overall average over the past 12 months. For Domestic Motor, there has been an uptick of 7.6% in average premiums in the December quarter compared to the September quarter, offsetting the decreases in earlier quarters - attributed to a 'return to normal' in experience post COVID-19 lockdowns.
  • The reduction in CTP is a combination of the impact of the new scheme in NSW, as well as benign experience across all states.
  • Other lines of business include the Travel Insurance product, which continues to have significant drops in written premiums in recent quarters. This is attributed to the impact of COVID-19 on domestic and international travel.

Underwriting Profitability

  • In the 12 months to 31 December 2020, Underwriting Profitability was negative (-$78 million). Underwriting Profitability has dropped for all major classes, with the exception of Motor and Employers Liability.
  • The main drivers of the total decrease compared to the previous 12 months are:
    • Insurers were found to be liable to pay out for Business interruption (BI) for COVID-19 for some policies due to policy wordings, leading to overall underwriting losses in the December 2020 quarter of $1.5 billion in the Fire and ISR class (which contains BI).
    • The natural catastrophes in the March 2020 Quarter including Bushfires and Hailstorms, both of which occurred in January, and East Coast Storms in February.
    • Continued reductions in prior period releases across the long-tail lines relative to earlier years. This is an important observation and suggests that prudence in reserving for the new SA CTP scheme and Scheme changes in NSW are reaching a more mature state.
    • The Risk-free yield curves as at 31 December 2020 have risen since September 2020, impacting all long tail lines.
    • Offset by decreases in Loss Ratios observed in the past 3 quarters in Commercial and Domestic motor, likely due to the crystallisation of the impacts of COVID-19 on the Motor performance. This decrease however, is more prevalent in the Domestic Motor portfolios due to the impact of COVID-19 on the domestic consumer.
  • In the December 2020 quarter, underwriting performance resulted in a loss of $1.1 billion, compared to the underwriting profit made the same financial quarter in 2019 of $0.6 billion.

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