Australia Yearbook - 2001

890 Year Book Australia 2001
26.9 OTHER INSURANCE CORPORATIONS, Financial Assets and Liabilities
June 1998
June 1999
June 2000
$m
$m
$m
FINANCIAL ASSETS
Currency and deposits 4 625 5 733 5 013
Bills of exchange 1 785 2 207 2 881
One name paper 2 754 2 630 2 248
Bonds 16 589 14 961 15 471
Loans and placements 6 587 7 674 9 036
Equities 20 903 21 958 25 715
Other accounts receivable 7 616 7 137 7 815
Total financial assets 60 859 62 300 68 179
LIABILITIES
Bonds on issue 118 430 597
Loans and placements 1 139 1 766 1 151
Listed shares and other equity 7 032 5 672 3 995
Unlisted shares and other equity 12 068 12 826 13 910
Prepayment of premiums 43 647 45 120 49 041
Other accounts receivable 9 675 9 730 11 229
Total liabilities 73 679 75 544 79 923
Source: Australian National Accounts, Financial Accounts (5232.0); APRA; PHIAC.
Other insurance corporations
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 1999 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 1999 there were 162 insurers
supervised by APRA. In addition, there were nine
public sector insurers at 30 June 2000.
Central borrowing authorities
Central borrowing authorities are institutions
established by each State and Territory
Government primarily to provide finance for
public corporations and quasi-corporations, and
other units owned or controlled by those
governments, and to arrange investment of the
units’ surplus funds. The central borrowing
authorities borrow funds, mainly by issuing
securities, and on-lend them to their public
sector clientele. However, they also engage in
other financial intermediation activity for
investment purposes, and may engage in the
financial management activities of the parent
government.
Table 26.10 shows the total assets and liabilities
held by the central borrowing authorities for the
most recent three years.