Short-tail insurance lines delivered an underwriting profit of $1.55 billion in the September quarter, driven by householders’ contribution of $636 million.

The result marked two straight quarters of profitability for householders after a $191 million loss in the March quarter, according to Australian Prudential Regulation Authority data released last week.

Householders gross written premium increased to $4.28 billion from $3.97 billion a year earlier; incurred claims rose to $1.977 billion from $1.792 billion; and amounts recoverable from reinsurers grew to $242 million from $202 million. 

The average premium per risk climbed to $1338 from $1273, and the number of risks written grew to 3.201 million from 3.118 million. 

The authority’s latest quarterly update on industry results is based on data from 87 entities. 

Overall, the industry made a profit of nearly $2.27 billion from continuing operations in the period.

The insurance service result – a measure of underwriting performance – increased to $2.79 billion from $2.21 billion.

In other short-tail classes, commercial motor’s gain lifted to $116 million from $87 million a year earlier; domestic motor moved to $440 million from $231 million; and fire and industrial special risk was up to $359 million from $277 million.

Long-tail classes’ underwriting profit increased to $396 million from $221 million.

Compulsory third party swung to a $26 million gain from a year-earlier $52 million deficit; cyber profit eased by $1 million to $17 million; directors and officers improved to $84 million from $47 million; employers’ liability grew to $129 million from $50 million; professional indemnity dropped to $43 million from $52 million; and public and product liability fell to $97 million from $106 million.