Australian general insurance intermediaries arranged policies worth about $21.5 billion in the June half, up from $20.1 billion a year earlier, according to prudential data released today.

They invoiced authorised general insurers $17.62 billion, Lloyd’s underwriters $2.56 billion and unauthorised foreign insurers $1.31 billion.

The Australian Prudential Regulation Authority’s January-June update is based on data from 1740 intermediaries.

Singapore carriers accounted for about 56% of UFI invoiced premium, followed by Britain (27%) and continental Europe (8%). About 7% went to UFIs in other countries. 

By class of business, 68% ($897 million) of premium with UFIs was for fire and industrial special risks, 8% ($102 million) for public and product liability, 7% ($87 million) for professional indemnity and 13% ($168 million) for other direct classes. 

The average premium for a new or renewed policy placed with UFIs was about $229,000. The APRA update says 94 intermediaries placed business with UFIs in the half.

Intermediaries placed 50% of APRA-authorised insurers’ gross written premium in the December half, excluding Lloyd’s. Figures for the June half are not available yet.