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 (Cwlth). At 30 June 2002 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 (Cwlth). At 30 June 2002 there were 146 insurers authorised to conduct new or renewal general insurance supervised by APRA. In addition, there were 10 public sector insurers at 30 June 2002. Table 26.9 sets out the financial assets and liabilities of Other insurance corporations at 30 June 2002 and the preceding two years.
26.9 OTHER INSURANCE CORPORATIONS, Financial assets and liabilities
|
 | Amounts outstanding at 30 June |
|
|
| 2000 | 2001 | 2002 |
| $m | $m | $m |
|
FINANCIAL ASSETS |
|
| Currency and deposits | 5,409 | 5,372 | 6,187 |
| Bills of exchange | 1,811 | 2,055 | 2,740 |
| One name paper | 2,805 | 2,286 | 3,280 |
| Bonds | 19,418 | 21,647 | 24,785 |
| Loans and placements | 8,961 | 7,600 | 5,671 |
| Equities | 24,626 | 26,543 | 27,218 |
| Other accounts receivable | 5,132 | 7,492 | 7,543 |
| Total | 68,162 | 72,995 | 77,424 |
|
LIABILITIES |
|
| Bonds on issue | 566 | 224 | 366 |
| Loans and placements | 1,396 | 1,513 | 1,805 |
| Listed shares and other equity | 5,180 | 10,371 | 8,905 |
| Unlisted shares and other equity | 15,249 | 14,621 | 16,494 |
| Prepayment of premiums | 49,248 | 50,511 | 55,978 |
| Other accounts receivable | 6,935 | 5,162 | 9,959 |
| Total | 78,574 | 82,402 | 93,507 |
|
| Source: Australian National Accounts: Financial Accounts (5232.0); APRA; PHIAC. |
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