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27 January 2015
Insurers wrote $30.6 billion in gross earned premium for the year to June 30 2011 and incurred claims of $23.8 billion.
APRA’s new annual publication, General Insurance Supplementary Statistical Tables, shows that 58% of claims were for home and contents, domestic motor vehicle and fire and industrial special risks (ISR).
The report says these classes were affected by catastrophes in the period.
Claims from hailstorms in Melbourne and Perth in March 2010 contributed to a gross loss ratio for home and contents and domestic motor vehicle of more than 90%.
The Queensland and Victorian floods in summer 2011 led to high loss ratios, including 153% in Queensland for fire and ISR.
Public sector insurers, which are not covered by the Insurance Act, earned $10.2 billion in premiums for the period and incurred net claims of $11.9 billion.
However, investment income helped them to a net profit of $500,000, up from $300,000 the previous year.
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Use your motor claims knowledge and experience to make an immediate impact in this critical role with Australia's number 1 truck insurer.
22 January 2015
A high-profile insurance role located in Sydney for a suitably qualified General Manager.
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Well-established and respected general insurance practice is currently looking for an Account Executive to join our successful, growing team.
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Exceptional opportunity for an experienced legal expert to join the team at Ace Insurance as our General Counsel. Great Sydney CBD location.
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Authorised Representative | Commercial Team | Parramatta or CBD Sydney | $120k + super (guaranteed in your first year)