{"id":12216,"date":"2011-09-06T14:40:39","date_gmt":"2011-09-06T04:40:39","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=12216"},"modified":"2021-04-15T10:18:50","modified_gmt":"2021-04-15T00:18:50","slug":"life-insurance-profits-down","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2011\/09\/06\/life-insurance-profits-down\/","title":{"rendered":"Life Insurance Profits Down"},"content":{"rendered":"<p>Life insurance profits are down by more than 10% on last year despite an increase in policy revenue, according to market statistics released this week.<\/p>\n<p><!--more-->The Australian Prudential Regulation Authority (APRA) Quarterly Life Statistics report found that net profit (after tax) for the year to June 2011 was $2.7 billion.\u00a0 This figure was down 13.9% on the previous year&#8217;s profit of $3.2 billion.<\/p>\n<p>Similarly, the June 2011 quarter (achieving $696 million profit) was also down compared to the March 2011 quarter ($771 million).<\/p>\n<p>However, net policy revenue was up for the year ending June 2011, reaching $10 billion (against $9.2 billion in the previous year).\u00a0\u00a0\u00a0<\/p>\n<p>APRA notes that total revenue was mainly sourced from investment revenue, which was down over $3 billion from the previous year, indicating the loss in profit\u00a0could be attributed in part to fluctuating markets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Life insurance profits are down by more than 10% on last year despite an increase in policy revenue, according to market statistics released this week.<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-12216","post","type-post","status-publish","format-standard","category-general"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/12216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=12216"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/12216\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=12216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=12216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=12216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}