General insurance intermediaries including brokers placed business worth about $21.87 billion in premium for the half year to June, according to Australian Prudential Regulation Authority data released today. 

The June half invoiced premium is up slightly from $21.59 billion a year earlier but down from the preceding period’s $22.97 billion. 

Business placed with APRA-authorised general insurers made up the largest portion of transactions, accounting for $18.2 billion of receipts, followed by invoices to Lloyd’s underwriters ($2.5 billion) and policies arranged with unauthorised foreign insurers ($1.16 billion). 

In the UFI space, 60% of business went to Singapore-based insurance providers and the majority of invoiced premiums were for fire and industrial special risk cover ($597 million). 

After Singapore, UK-based UFIs accounted for 24% of business placed ($280 million), then continental Europe (8% or $97 million) and other countries (5% or $60 million).

By product, fire and ISR made up 68% of invoiced premium with UFIs while product lines grouped as “other direct classes” came second, at 15%

The rest of business with UFIs comprised 2% for marine and aviation; 1% for other accident; 6% for public and product liability; and 8% for professional indemnity.

The bi-annual APRA data says there were 1735 intermediaries in the June half.