Advertise
Resources
Member, Beacon International Group, Ltd.
KPMG L.L.P has said in a report that Australian insurers have posted higher earnings during the 12 months to June 30, 2014, recording combined profits of $4.96 billion Australian ($4.4 million) and an 18.5% insurance margin, reports Business Spectator.
Scott Guse, head of insurance accounting at KPMG, attributed the result to good investment returns in the equity and alternative asset markets.
The loss ratio for 2014 stood at 61.6%, which is the lowest in the past five years, Mr. Guse added.