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EXECUTIVE SUMMARY

The report titled “Australia Insurance Market Outlook to 2016 - Rising Importance of Household Insurance” provides a comprehensive analysis of market size of the Asia-Pacific insurance industry, market segmentation of Asia-Pacific insurance industry by geography. The report includes market size of Australia insurance industry, market segmentation of non-life Australia insurance market and market size and segmentation of various non life segments. The report also provides value chain of Australia insurance market, competitive landscape and profile of major players operating in the Australian insurance industry.

The insurance market of Australia has experienced decline in the growth rate from ~% in FY’2011 to ~% in FY’2012 on account of the decrease in the direct written premium of the life insurance industry on account of reduction in the sales of investment linked products. The industry has also experienced the decline in the solvency margin ratio from ~% in 2009 to ~% in 2012 primarily due to an increased frequency of natural catastrophe. The solvency margin ratio is an important indicator which is used to judge whether an insurance company has enough cash surplus in order to pay claims to policyholders as scheduled.

In FY’2012, there are ~ life insurance companies are operating in the country in which ~ are direct insurers and ~ are reinsurers. There are also ~ friendly societies most of them having a small asset base. The friendly society is a mutual association for the purpose of providing pension, saving, insurance or cooperative banking services to the individual. In aggregate, friendly society represents only a small share of the whole life insurance industry. In FY’2012, the life insurers and reinsurers excluding friendly societies has approximately USD ~ billion of total statutory fund assets. The statuary fund is being collected by a life insurance company in order to remain solvent and attain partial protection against a substantial losses.

The general insurance industry in Australia has experienced a growth of ~% with the direct written premium of USD ~ million in FY’2012 compared to USD ~ million in FY’2011. The growth in the market is primarily driven by an increase in the household and in the fire and industrial special risk class by ~% and ~% respectively in FY’2012. The growth in the class was largely attributed by the rise in the premium rate by the insurers on account of the surge in the cost of property reinsurance due to the occurrence of natural catastrophe events in FY’2011.

The private health insurance industry in Australia is registered under the Private Health Insurance Act 2007 and it is monitored by the Private Health Insurance Administration Council, a statutory authority. The private health insurance is an important element of the Australian health system providing both services and funding to the customers. The market contributed ~% i.e. AUD ~ billion of the country’s total health expenditure in FY’2011. In FY’2012, approximately ~% of the total Australian population was covered under private health insurance schemes.

The automobile insurance industry has experienced a growth in the direct written premium from USD ~ million in FY’2008 to USD ~ million in FY’2012 on account of the rising number of vehicles in the country. The number of vehicles in the country has witnessed a growth from ~ million in 2008 to ~ million in 2012 due to the surging personal disposable income. In FY’2012, the automobile has paid a claim around AUD ~ million in which domestic motor insurance industry has paid a majority of claim AUD ~ million.

The household insurance industry in Australia has experienced a growth of ~% with the direct written premium of USD ~ million in FY’2012 compared to USD ~ million in FY’2011 on account of rising awareness among the people after the occurrence of successive natural disaster in the country. In 2011, the occurrence of Tropical Cyclone Yasi in the multiple locations of Queensland has resulted into loss of AUD ~ million.

KEY TOPICS COVERED IN THE REPORT

- The market size of Asia-Pacific insurance industry and the contribution of countries.
- The market size of Australia insurance industry.
- The market size of Australia life and non-life insurance industry.
- Market segmentation of non-life insurance markets in Australia
- The market size and segmentation of various non-life insurance market
- Trends and Development of Australia insurance market.
- Competitive Landscape of the major players in non-life insurance market.
- Competitive Landscape of the major player in health, motor and household insurance market
- Future outlook and projections for Asia-Pacific and Australia insurance market
- Future outlook and projections for life and non-life Australia insurance market
- Microeconomics and industry factors including Australia population, GDP, health expenditure and number of vehicle, 2005-2016

Table Of Contents

Australia Insurance Market Outlook to 2016 - Rising Importance of Household Insurance
TABLE OF CONTENTS
1. Asia-Pacific Insurance Industry
1.1. Industry Introduction
1.2. Asia-Pacific Insurance Market Size by Direct Written Premium, 2005-2012P
1.3. Asia-Pacific Insurance Market Segmentation
1.3.1. By Geography, 2005-2012P
1.3.2. By Life and Non Life, 2005-2012P
1.4. Asia-Pacific Insurance Industry Future Outlook
1.4.1. By Geography, 2013-2016
2. Australia Insurance Industry
2.1. Australia Insurance Value Chain
2.2. Australia Insurance Market Size by Direct Written Premium, FY'2005-FY'2012
3. Australia Insurance Government Regulations
4. Australia Life Insurance Market
4.1. Australia Life Insurance Market Size, FY'2005-FY'2012
4.2. Australia Life Insurance Market Future Outlook and Projection, FY'2013-FY'2016
5. Australia Non-Life Insurance Market
5.1. Australia Non-Life Insurance Market Size, FY'2005-FY'2012
5.2. Non-Life Insurance Segmentation, FY'2005-FY'2012
5.2.1. Australia Health Insurance Industry
5.2.1.1. Australia Health Insurance Market Size, FY'2005-FY'2012
5.2.1.2. Market Share of Major Health Insurers in Australia, FY'2012
5.2.1.3. Australia Health Insurance Market Future Outlook and Projection, FY'2013-FY'2016
5.2.2. Australia Motor Vehicle Insurance Industry
5.2.2.1. Australia Motor Vehicle Insurance Market Size, FY'2005-FY'2012
5.2.2.2. Motor Vehicle Insurance Segmentation, FY'2005-FY'2012
5.2.2.3. Market Share of Major Motor Vehicle Insurers in Australia, FY'2012
5.2.2.4. Australia Motor Vehicle insurance Market Future Outlook and Projection, FY'2013-FY'2016
5.2.3. Australia Household Insurance Industry
5.2.3.1. Australia Household Insurance Market Size, FY'2005-FY'2012
5.2.3.2. Market Share of Major Household Insurers in Australia, FY'2012
5.2.3.3. Australia Household Insurance Market Future Outlook and Projection, FY'2013-FY'2016
5.2.4. Australia Liability Insurance Industry
5.2.4.1. Australia Liability Insurance Market Size, FY'2005-FY'2012
5.2.4.2. Liability Insurance Segmentation, FY'2005-FY'2012
5.2.4.3. Australia Liability insurance Market Future Outlook and Projection, FY'2013-FY'2016
5.2.5. Australia Fire and ISR Insurance Industry
5.2.5.1. Australia Fire and ISR Insurance Market Size, FY'2005-FY'2012
5.2.5.2. Australia Fire and ISR Insurance Market Future Outlook and Projection, FY'2013-FY'2016
5.2.5.3. Market Share of Major Non Life Insurers in Australia, FY'2012
5.3. Australia Non-Life Insurance Market Future Outlook and Projection, FY'2013-FY'2016
6. Australia Insurance Industry Trends and Developments
7. Asia-Pacific Insurance Industry Future Outlook
7.1. Asia-Pacific Insurance Industry Future Projections
7.2. By Geography, 2013-2016
8. Australia Insurance Industry Future Projections, FY'2013-FY'2016
8.1. Cause and Effect Relationship Between Dependent and Independent Factors Prevailing in Australia Insurance Market
9. Company Profile of Major Players in Australia Life Insurance Industry
10. Company Profile of Major Players in Australia Non-Life Insurance Industry
10.1. Suncorp Group
10.1.1. Company Profile
10.1.2. Business Strategies
10.1.3. Financial Performance
10.2. Insurance Australia Group
10.2.1. Company Profile
10.2.2. Business Strategies
10.2.3. Financial Performance
11. Australia Insurance Industry Macro-Economic Indicators: Historical and Projections
11.1. Australia Population, 2005-2016
11.2. GDP of Australia, 2005-2016
11.3. Healthcare Expenditure of Australia, 2005-2016
11.4. Total number of Vehicle in Use in Australia, 2005-2016
12. Appendix
12.1. Market Definitions
12.2. Abbreviations
12.3. Research Methodology
Data Collection Methods
Approach
Variables (Dependent and Independent)
Multi Factor Based Sensitivity Model
Final Conclusion
12.4. Disclaimer




LIST OF FIGURES

Figure 1: Asia-Pacific Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012P
Figure 2: Asia-Pacific Insurance Market Segmentation by Life and non Life on the Basis of Direct Written Premium in Percentage, 2005-2012P
Figure 3: Insurance Value Chain
Figure 4: Australia Insurance Market Size on the Basis of Direct Written Premium in USD Million, FY'2005-FY'2012
Figure 5: Australia Life Insurance Market Size on the Basis of Direct Written Premium in USD Million, FY'2005-FY'2012
Figure 6: Australia Life Insurance Market Projections on the Basis of Direct Written Premium in USD Million, FY'2013-FY'2016
Figure 7: Australia Non Life Insurance Market Size on the Basis of Direct Written Premium in USD Million, FY'2005-FY'2012
Figure 8: Australia Non life Insurance Market Segmentation by Health, Motor Vehicle, Household, liability, Fire and ISR and Others on the Basis of Direct Written Premium in Percentage, FY'2005-FY'2012
Figure 9: Australia Health Insurance Market Size on the Basis of Direct Written Premium in USD Million, FY'2005-FY'2012
Figure 10: Market Share of Major Non Life Insurers on the Basis of Number of Policies in Percentage, FY'2012
Figure 11: Australia Health Insurance Market Projections on the Basis of Direct Written Premium in USD Million, FY'2013-FY'2016
Figure 12: Australia Motor Vehicle Insurance Market Size on the Basis of Direct Written Premium in USD Million, FY'2005-FY'2012
Figure 13: Australia Motor Vehicle Insurance Market Segmentation by Domestic, CTP and Commercial Motor Vehicle Insurance on the Basis of Direct Written Premium in Percentage, FY'2005-FY'2012
Figure 14: Market Share of Major Motor Vehicle Insurers on the Basis of Direct Written Premium in Percentage, FY'2012
Figure 15: Australia Household Insurance Market Size on the Basis of Direct Written Premium in USD Million, FY'2005-FY'2012
Figure 16: Market Share of Major Household Insurers on the Basis of Direct Written Premium in Percentage, FY'2012
Figure 17: Australia Household Insurance Market Projections on the Basis of Direct Written Premium in USD Million, FY'2013-FY'2016
Figure 18: Australia Liability Insurance Market Size on the Basis of Direct Written Premium in USD Million, FY'2005-FY'2012
Figure 19: Australia Liability Insurance Market Segmentation by Public and Product Liability, Employers Liability and Professional Indemnity Insurance on the Basis of Direct Written Premium in Percentage, FY'2005-FY'2012
Figure 20: Australia Fire and ISR Insurance Market Size on the Basis of Direct Written Premium in USD Million, FY'2005-FY'2012
Figure 21: Australia Fire and ISR Insurance Market Projections on the Basis of Direct Written Premium in USD Million, FY'2013-FY'2016
Figure 22: Market Share of Major Non Life Insurers on the Basis of Direct Written Premium in Percentage, FY'2012
Figure 23: Australia Non life Insurance Market Projections on the Basis of Direct Written Premium in USD Million, FY'2013-FY'2016
Figure 24: Australia Insurance Market Projections on the Basis of Direct Written Premium in USD Million, FY'2013-FY'2016
Figure 25: Australia Non-Life Insurance Gross Written Premium of Suncrop Group in USD Million, FY'2011-FY'2012
Figure 26: Australia Non-Life Insurance Gross Written Premium of Insurance Australia Group in USD Million, FY'2005-FY'2012
Figure 26: Australia Population in Million, 2005-2016
Figure 27: GDP of Australia in USD Million, 2005-2016
Figure 28: Healthcare Expenditure of Australia in USD Million, 2005-2016
Figure 29: Total Number of Vehicle in Use in Australia in Million, 2005-2016




LIST OF TABLES

Table 1: Asia-Pacific Insurance Market Segmentation by Countries on the Basis of Direct Written Premium in USD Billion, 2005-2012P
Table 2: Asia-Pacific Insurance Market Segmentation by Life and Non Life on the Basis of Direct Written Premium in USD Billion, 2005-2012P
Table 3: Asia-Pacific Insurance Market Projections by Countries on the Basis of Direct Written Premium in USD Million, 2013-2016
Table 3: Market Share of Major Non Life Insurers on the Basis of Number of Policies in Thousand Units, FY'2012
Table 4: Australia Motor Vehicle Insurance Market Segmentation by Domestic, CTP and Commercial Motor Vehicle Insurance on the Basis of Direct Written Premium in USD Million, 2005-2012
Table 6: Market Share of Major Motor Vehicle Insurers on the Basis of Direct Written Premium in USD Million, FY'2012
Table 7: Australia Motor Vehicle Insurance Market Projections on the Basis of Direct Written Premium in USD Million, FY'2013-FY'2016
Table 8: Market Share of Major Household Insurers on the Basis of Direct Written Premium in USD Million, FY'2012
Table 9: Australia Liability Insurance Market Segmentation by Public and Product Liability, Employers Liability and Professional Indemnity Insurance on the Basis of Direct Written Premium in USD Million, FY'2005-FY'2012
Table 10: Australia Liability Insurance Market Projections on the Basis of Direct Written Premium in USD Million, FY'2013-FY'2016
Table 11: Market Share of Major Non Life Insurers on the Basis of Direct Written Premium in USD Million, FY'2012
Table 12: Asia-Pacific Insurance Market Projections by Countries on the Basis of Direct Written Premium in USD Million, 2013-2016
Table 13: Cause and Effect Relationship Analysis between Industry Factors and Expected Industry Prospects of Australia Insurance Market
Table 14: Company Profile of Major Players in Australia Life Insurance Industry, FY'2012
Table 15: Correlation Matrix of Australia Insurance Industry
Table 16: Regression Coefficients Output of Australia Insurance Industry




COMPANIES MENTIONED

AMP Life, MLC Insurance Company, TAL, CommInsure, Medibank, Bupa, Hospital Contribution Fund (HCF), HBF, NIB, Insurance Australia Group, Suncorp Group, QBE Insurance Australia, Allianz Australian Insurance, Insurance Manufactures of Australia, Wesfarmers General Insurance Limited

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