The Australian Prudential Regulation Authority (APRA) has issued its latest bi-annual report on intermediated general insurance, detailing market activity for the six months ending June 2025.
The release provides insight into premium flows, intermediary activity, and sector trends relevant to insurance professionals.
According to APRA’s data, total premiums invoiced through intermediaries for the period reached $21.5 billion. Of this, $17.6 billion was placed with APRA-authorised general insurers, $2.6 billion with Lloyd’s underwriters, and $1.3 billion with unauthorised foreign insurers (UFIs).
The figures reflect a slight decrease from the previous half-year, when total premiums invoiced stood at $22.3 billion.
The number of intermediaries participating in the market increased to 1,740, up from 1,717 in December 2024. Of these, 662 intermediaries placed business with an underwriter, and 622 intermediaries placed business specifically with APRA-authorised general insurers.
Business placed with Lloyd’s underwriters involved 346 intermediaries, while 94 intermediaries placed business with UFIs. Notably, 1,053 intermediaries recorded no business placement during the period.
Gross written premium (GWP) for direct business by APRA-authorised general insurers, excluding Lloyd’s, reached $35.6 billion for the six months to June 2025. The proportion of GWP placed by intermediaries was 50%, consistent with the previous reporting period.
The data highlights the ongoing significance of intermediaries in the distribution of general insurance products in Australia.
APRA’s report also breaks down business placed with UFIs by exemption type and class. The total premium invoiced for UFI business was $1.3 billion, distributed across fire and industrial special risks, marine and aviation, public and product liability, professional indemnity, and other direct classes.
For new or renewed policies, the average premium stood at $229,000, with 5,493 policies written during the period.
Industry analysis from GlobalData forecasts that Australia’s general insurance market will continue to expand, with direct written premiums expected to reach $144.5 billion by 2029. This projection is based on a compound annual growth rate of 8.8%.
For 2025, the market is anticipated to grow to $102.8 billion, representing an 8.6% increase over the prior year.
Swarup Kumar Sahoo, senior insurance analyst at GlobalData, commented on the drivers of market growth.
“The growth of the general insurance industry in Australia is attributed to the increasing demand for insurance products that cover extreme weather events and rising premium prices due to inflation and the cost-of-living crisis,” he said.
Sahoo also noted that increased health awareness and the need for comprehensive natural disaster coverage are expected to support ongoing growth.
