The Mutuals Industry Review 2023 by KPMG Australia is a comprehensive report that provides insights into the mutuals industry’s financial and competitive status, challenges, and opportunities for 2023.
Year in review – 2023 highlights
The report highlights the mutuals’ overall increase in net assets by 4.2% to AUD 11.7 billion and the significant increase in operating profits before tax by 27.0% to AUD 769.3 million. It also discusses the factors that contributed to the Mutuals’ cost-to-income ratios decreasing to 73.7%.
Key highlights from our 2023 mutuals survey
The survey presents the industry’s key highlights for the year, including top contributors to growth, priorities for the next three years, technology challenges, and the mutuals’ biggest risks and competitors.
2023 financial results
The report analyses the industry’s financial performance, growth, and profitability. It provides a summary of publicly available financial reports, APRA statistics, and, in some cases, data collected directly from survey participants.
KPMG insights on key topics
The report discusses key themes and topics affecting the mutuals industry today and in the future. It details pathways to a sustainable and customer-centric future, managing the cyber threat, addressing sustainability reporting gaps, embracing AI risks and opportunities, and CPS 230 Operational Risk Management.
