This sector includes all corporations that provide insurance other than life insurance. Included are general, fire, accident, employer liability, household, health and consumer credit insurers.
Private health insurers are regulated by the Private Health Insurance Administration Council (PHIAC) under the National Health Act 1959. At 30 June 2001 there were 44 private health insurers, including health benefit funds of friendly societies. Other private insurers are supervised by APRA under the Insurance Act 1973. At 30 June 2001 there were 154 insurers supervised by APRA. In addition, there were 13 public sector insurers at 30 June 2001. Table 26.9 sets out the financial assets and liabilities of Other insurance corporations at 30 June 2001 and the preceding two years.
26.9 OTHER INSURANCE CORPORATIONS, Financial Assets and Liabilities |
|
| | June 1999
$m | June 2000
$m | June 2001
$m |
|
FINANCIAL ASSETS |
|
| Currency and deposits | 5,752 | 5,408 | 5,323 |
| Bills of exchange | 1,924 | 1,811 | 1,910 |
| One name paper | 2,518 | 2,302 | 1,858 |
| Bonds | 18,013 | 18,795 | 21,928 |
| Loans and placements | 7,639 | 8,977 | 8,308 |
| Equities | 22,215 | 24,625 | 26,103 |
| Other accounts receivable | 8,202 | 9,104 | 9,873 |
| Total financial assets | 66,263 | 71,022 | 75,303 |
|
LIABILITIES |
|
| Bonds on issue | 429 | 588 | 362 |
| Loans and placements | 1,781 | 1,152 | 833 |
| Listed shares and other equity | 5,672 | 3,995 | 10,371 |
| Unlisted shares and other equity | 12,817 | 14,450 | 10,818 |
| Prepayment of premiums | 45,120 | 49,248 | 50,592 |
| Other accounts receivable | 9,649 | 10,495 | 10,902 |
| Total liabilities | 75,468 | 79,928 | 83,878 |
|
| Source: Australian National Accounts: Financial Accounts (5232.0); APRA; PHIAC. |
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