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1301.0 - Year Book Australia, 2003  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 24/01/2003   
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Contents >> Financial System >> Other insurance corporations

This sector includes all corporations that provide insurance other than life insurance. Included are general, fire, accident, employer liability, household, health and consumer credit insurers.

Private health insurers are regulated by the Private Health Insurance Administration Council (PHIAC) under the National Health Act 1959 (Cwlth). At 30 June 2002 there were 44 private health insurers, including health benefit funds of friendly societies. Other private insurers are supervised by APRA under the Insurance Act 1973 (Cwlth). At 30 June 2002 there were 146 insurers authorised to conduct new or renewal general insurance supervised by APRA. In addition, there were 10 public sector insurers at 30 June 2002. Table 26.9 sets out the financial assets and liabilities of Other insurance corporations at 30 June 2002 and the preceding two years.


26.9 OTHER INSURANCE CORPORATIONS, Financial assets and liabilities

Amounts outstanding at 30 June

2000
2001
2002
$m
$m
$m

FINANCIAL ASSETS

Currency and deposits
5,409
5,372
6,187
Bills of exchange
1,811
2,055
2,740
One name paper
2,805
2,286
3,280
Bonds
19,418
21,647
24,785
Loans and placements
8,961
7,600
5,671
Equities
24,626
26,543
27,218
Other accounts receivable
5,132
7,492
7,543
Total
68,162
72,995
77,424

LIABILITIES

Bonds on issue
566
224
366
Loans and placements
1,396
1,513
1,805
Listed shares and other equity
5,180
10,371
8,905
Unlisted shares and other equity
15,249
14,621
16,494
Prepayment of premiums
49,248
50,511
55,978
Other accounts receivable
6,935
5,162
9,959
Total
78,574
82,402
93,507

Source: Australian National Accounts: Financial Accounts (5232.0); APRA; PHIAC.


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