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Disability products drag on insurers
The life insurance industry continued to struggle on a number of fronts during the September, quarter according to the latest data released by the Australian Prudential Regulation Authority (APRA).
The data, released today, revealed that net profit after tax was negative -$70 million in the quarter, with Individual Lump Sum risk products contributing $88 million, Group Lump Sum $7 million, Group Disability Income Insurance $7 million and Individual Disability Income Insurance -$173 million.
The data show that in the 12 months to 30 September 2018, net profit after tax was $653 million, with Individual Lump Sum Risk products contributing $749 million, Group Lump Sum Risk products $109 million, Group Disability Income Insurance $70million and Individual Disability Income Insurance minus $276 million.
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TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
