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Despite the economic downturn of 2008-09, the insurance industry’s financial stability has remained sound. There are over 130 insurers licensed for general insurance business, around 30 life insurance and pension companies and almost 40 health benefits organisations (2010). The industries as a whole receive upwards of US$75 billion in net premium revenues annually with the life and pension industries accounting for around 70% of this (2010). The key players are Allianz Australia Limited, AMP, CGU Insurance Ltd, Gerling Australia Insurance Company Pty Ltd, ING Australia Limited, Insurance Australia Group Ltd, QBE Insurance Group, Suncorp Metway Insurance Ltd, and Zurich Australia Insurance Limited. Many of these are multinational subsidiaries. Insurance in Australia is regulated by the Australian Prudential Regulation Authority.