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Benchmark Analytics

Independent economic and financial services analysis

Rigorous data and evidence-based analysis for government relations, corporate affairs, financial institutions, journalism and public policy.

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Latest analysis

General Insurance

Home insurance premiums keep rising — but APRA data show no profit windfall

Home insurance is becoming increasingly expensive, but new APRA data show the householders insurance service result fell from a $1.15 billion profit to a small loss in 2025–26.

Mental health claims are becoming a superannuation cost problem

Mental-health-related TPD claims are surging, placing pressure on insurance premiums inside superannuation and creating a new tension with retirement adequacy.

Private Health Insurance

Private health costs are rising — but insurer profits fell 16.6%

APRA data show private health insurance claims rose faster than premium revenue in 2025–26, while industry after-tax profit fell 16.6%.

More issues

Private Health Insurance

Private health cover grows as hospital out-of-pocket costs jump 7.5%

More Australians are holding private health insurance, but APRA data show average hospital out-of-pocket costs rose 7.5% over the year to $513.24 per episode.

How concentrated is Australia's MySuper market?

Australia’s MySuper market contains 52 products, but assets are much more concentrated than that headline number suggests. The ten largest products hold 74.5% of MySuper assets, while the market has the same concentration as roughly 13 equally sized products.

What do we know about superannuation fees? Some core data

APRA publishes detailed information on individual superannuation funds and their basic superannuation products (called MySuper products). Bringing those datasets together provides a useful starting point for understanding how large Australia's major funds are, what they charge members for administration, and whether greater scale is associated with lower fees.

Reserve Bank of Australia

Three (blunt) politically relevant messages from the latest RBA Minutes

The latest RBA Minutes contain three unusually clear political messages on interest rates, Australia’s productivity problem and the weakening housing market.

HBF collects almost half of Western Australia's private health insurance premiums

APRA's private health insurance performance data provides premium revenue for individual insurers across each state and territory. Benchmark Analytics calculations show substantial differences in market concentration across Australia. The standout among the larger states is Western Australia, where HBF accounts for 46.7% of private health insurance premium

Five health insurers collect 80% of Australia's private health insurance premiums

APRA's latest private health insurance data provides financial performance information for individual insurers, including premium revenue by state and territory. Summing those state figures shows Australia's 29 private health insurers collected $31.10 billion in health insurance premium revenue in 2024–25. The market is dominated

Australian households - second most indebted in the world

The Bank for International Settlements (BIS) provides internationally comparable data on household credit, debt servicing and residential property prices. Together, the three measures provide a useful picture of both household debt and the value of the housing assets sitting behind it. At the end of 2025, Australian household debt was