APRA releases latest private health insurance statistics

APRA releases latest private health insurance statistics | Insurance Business

APRA releases latest private health insurance statistics

The Australian Prudential Regulation Authority (APRA) has released its annual statistics on the operations of private health insurers.

APRA’s latest Operations of Private Health Insurers Annual Report relates to the operations and financial activities of registered private health insurers, showing their expenses, revenues, and operational information for the financial year 2019 to 2020.

The report is based on statistics collected by APRA and the Private Health Insurance Administration Council (PHIAC) over the course of the regulation of the sector. Most statistics were derived from quarterly statistical collections, apart from funds’ financial details, which are based on annual audited returns.

For the 2019-2020 financial year, BUPA had the highest total revenue – boasting $6,550,104. MPL followed BUPA with $6,450,402 total revenue and HCF Health Insurance earned $2,963,698.

BUPA also had the highest premium revenue for the 2019-2020 financial year, with a total of $6,472,441. MPL followed, with premium revenue of $6,377,209 and HCF Health Insurance with $2,923,946.

APRA will release the next annual statistics on the operations of private health insurers on October 27, 2021.