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Synopsis
Timetric’s 'Non-Life Insurance in Australia, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Australian non-life insurance segment, and a comparison of the Australian insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011–2015) and over the forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Australian economy and demographics, explains the various types of natural hazards and their impact on the Australian insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary
Timetric’s 'Non-Life Insurance in Australia, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Australian non-life insurance segment, including:

- The Australian non-life insurance segment’s detailed outlook by product category

- A comprehensive overview of the Australian economy and demographics

- A comparison of the Australian insurance industry with its regional counterparts

- The various distribution channels in the Australian non-life insurance segment

- Detailed analysis of natural hazards and their impact on the Australian insurance industry

- Details of the competitive landscape in the non-life insurance segment in Australia

- Details of regulatory policy applicable to the Australian insurance industry

Scope
This report provides a comprehensive analysis of the non-life insurance segment in Australia:

- It provides historical values for the Australian non-life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.

- It offers a detailed analysis of the key categories in the Australian non-life insurance segment, and market forecasts to 2020.

- It profiles the top non-life insurance companies in Australia, and outlines the key regulations affecting them.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Australian non-life insurance segment, and each category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Australian non-life insurance segment.

- Assess the competitive dynamics in the non-life insurance segment.

- Identify growth opportunities and market dynamics in key product categories.

- Gain insights into key regulations governing the Australian insurance industry, and their impact on companies and the industry's future.

Key Highlights
- The non-life segment accounted for 30.1% of the Australian insurance industry’s gross written premium in 2015.

- Motor insurance was the second-largest non-life category, accounting for 42.6% of its direct written premium in 2014.

- Each state and territory in Australia has a mandatory motor vehicle accident personal injury insurance system.

- Competition in general liability insurance in Australia is high, with insurers being highly competitive for clients with no claims history.

- Direct marketing was the leading distribution channel, accounting for 47.1% of the non-life direct written premium in 2015.

-The Australian non-life segment is fragmented, with the 10 leading companies accounting for 73.9% of the gross written premium in 2015.

Table Of Contents

Non-Life Insurance in Australia, Key Trends and Opportunities to 2020
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Claims
4.2.3 Profitability
4.2.4 Assets and investments
5 Outlook by Category
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Claims
5.1.4 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Claims
5.2.4 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Claims
5.3.4 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Claims
5.4.4 Profitability
6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
6.1.1 Agencies
6.1.2 Insurance brokers
6.1.3 Direct marketing
6.1.4 E-commerce
6.1.5 Bancassurance
6.1.6 Other channels
7 Natural Hazards
7.1 Floods
7.2 Cyclones and Storm Surges
7.3 Hailstorms
7.4 Wildfires
7.5 Extreme Temperature and Drought
7.6 Landslides
7.7 Exposure
8 Competitive Landscape
8.1 Overview
8.2 Leading Companies in the Australian Non-Life Insurance Segment
8.2.1 AAI Ltd - company overview
8.2.2 QBE Insurance (Australia) Ltd - company overview
8.2.3 Allianz Australia Insurance Ltd - company overview
8.2.4 Insurance Australia Group Ltd - company overview
8.2.5 Insurance Manufacturers of Australia Pty Ltd (IMA) - company overview
9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulations
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Aircraft passenger liability insurance
9.4.2 Motor third-party liability (MTPL) insurance regulations
9.4.3 Workmen's compensation insurance
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors (IAIS)
9.5.2 Australian Prudential Regulation Authority
9.5.3 Australian Securities and Investment Commission
9.5.4 Financial Services Council (FSC)
9.5.5 Insurance Council of Australia
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and penalties
9.7 Company Registration and Operations
9.7.1 Types of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margins
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Withholding taxes on premium paid overseas
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution (ADR)
10 Databook
10.1 Policies and Premium
10.2 Claims and Expenses
10.3 Assets and Investments
10.4 Direct Marketing and E-Commerce
10.5 Insurance Brokers and Agencies
10.6 Bancassurance and Other Distribution Channels
10.7 Property Insurance
10.8 Property Insurance by Product
10.9 Motor Insurance
10.1 Motor Insurance by Product
10.11 Liability Insurance
10.12 Marine, Aviation and Transit Insurance
11 Definitions and Methodology
11.1 Definitions
11.2 Methodology
12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric's Services
12.4 Disclaimer

List of Tables
Table 1: Australian Non-Life Insurance - Key Facts, 2015
Table 2: Australian Non-Life Insurance - Segment Shares of the Top Insurers, 2015
Table 3: Australian Government Credit Ratings
Table 4: Australian Non-Life Insurance - Gross Written Premium (AUD Billion and US$ Billion), 2011-2015
Table 5: Australian Non-Life Insurance - Penetration (%), 2011-2015
Table 6: Australian Non-Life Insurance - Gross Written Premium (AUD Billion and US$ Billion), 2015-2020
Table 7: Australian Non-Life Insurance - Penetration (%), 2015-2020
Table 8: Australian Non-Life Insurance - Premium per Capita (AUD and US$), 2011-2015
Table 9: Australian Non-Life Insurance - Premium per Capita (AUD and US$), 2015-2020
Table 10: Australian Non-Life Insurance - Paid Claims (AUD Billion and US$ Billion), 2011-2015
Table 11: Australian Non-Life Insurance - Paid Claims (AUD Billion and US$ Billion), 2015-2020
Table 12: Australian Non-Life Insurance - Profitability Ratio (%), 2011-2015
Table 13: Australian Non-Life Insurance - Profitability Ratio (%), 2015-2020
Table 14: Australian Non-Life Insurance - Total Assets (AUD Billion and US$ Billion), 2011-2015
Table 15: Australian Non-Life Insurance - Total Assets (AUD Billion and US$ Billion), 2015-2020
Table 16: Australian Non-Life Insurance - Total Investment Income (AUD Billion and US$ Billion), 2011-2015
Table 17: Australian Non-Life Insurance - Total Investment Income (AUD Billion and US$ Billion), 2015-2020
Table 18: Australian Non-Life Insurance - Investment Portfolio (AUD Billion), 2011-2015
Table 19: Australian Non-Life Insurance - Investment Portfolio (AUD Billion), 2015-2020
Table 20: Australian Non-Life Insurance - Direct Written Premium by Category (AUD Billion), 2011-2015
Table 21: Australian Non-Life Insurance - Direct Written Premium by Category (AUD Billion), 2015-2020
Table 22: Australian Property Insurance - Direct Written Premium by Sub-Category (AUD Billion), 2011-2015
Table 23: Australian Property Insurance - Direct Written Premium by Sub-Category (AUD Billion), 2015-2020
Table 24: Australian Property Insurance - Paid Claims (AUD Billion and US$ Billion), 2011-2015
Table 25: Australian Property Insurance - Paid Claims (AUD Billion and US$ Billion), 2015-2020
Table 26: Australian Property Insurance - Loss Ratio (%), 2011-2015
Table 27: Australian Property Insurance - Loss Ratio (%), 2015-2020
Table 28: Australian Motor Insurance - Direct Written Premium by Sub-Category (AUD Billion), 2011-2015
Table 29: Australian Motor Insurance - Direct Written Premium by Sub-Category (AUD Billion), 2015-2020
Table 30: Australian Motor Insurance - Paid Claims (AUD Billion and US$ Billion), 2011-2015
Table 31: Australian Motor Insurance - Paid Claims (AUD Billion and US$ Billion), 2015-2020
Table 32: Australian Motor Insurance - Loss Ratio (%), 2011-2015
Table 33: Australian Motor Insurance - Loss Ratio (%), 2015-2020
Table 34: Australian Liability Insurance - Direct Written Premium (AUD Billion), 2011-2015
Table 35: Australian Liability Insurance - Direct Written Premium (AUD Billion), 2015-2020
Table 36: Australian Liability Insurance - Paid Claims (AUD Billion and US$ Billion), 2011-2015
Table 37: Australian Liability Insurance - Paid Claims (AUD Billion and US$ Billion), 2015-2020
Table 38: Australian Liability Insurance - Loss Ratio (%), 2011-2015
Table 39: Australian Liability Insurance - Loss Ratio (%), 2015-2020
Table 40: Australian Transport Network - Global Rankings
Table 41: Australian Marine, Aviation and Transit Insurance - Direct Written Premium (AUD Million), 2011-2015
Table 42: Australian Marine, Aviation and Transit Insurance - Direct Written Premium (AUD Million), 2015-2020
Table 43: Australian Marine, Aviation and Transit Insurance - Paid Claims (AUD Million and US$ Million), 2011-2015
Table 44: Australian Marine, Aviation and Transit Insurance - Paid Claims (AUD Million and US$ Billion), 2015-2020
Table 45: Australian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2011-2015
Table 46: Australian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2015-2020
Table 47: Australian Non-Life Insurance - Direct Written Premium by Distribution Channel (AUD Billion), 2011-2015
Table 48: Australian Non-Life Insurance - Direct Written Premium by Distribution Channel (AUD Billion), 2015-2020
Table 49: Australian Non-Life Insurance - Direct Written Premium by Distribution Channel (%), 2011-2020
Table 50: Australian Average Annual Loss by Hazard, 1990-2014
Table 51: Australian Non-Life Insurance Segment Share (%), 2015
Table 52: AAI Ltd - Key Facts
Table 53: AAI Ltd - Key Financials (AUD Million), 2013-2015
Table 54: QBE Insurance (Australia) Ltd - Key Facts
Table 55: QBE Insurance (Australia) Ltd - Key Financials (AUD Million), 2011-2015
Table 56: Allianz Australia Insurance Ltd - Key Facts
Table 57: Allianz Australia Insurance Ltd - Key Financials (AUD Million), 2011-2015
Table 58: Insurance Australia Group Ltd - Key Facts
Table 59: Insurance Australia Group Ltd - Key Financials (AUD Million), 2011-2015
Table 60: Insurance Manufacturers of Australia Pty Ltd - Key Facts
Table 61: Insurance Manufacturers of Australia Pty Ltd - Key Financials (AUD Million), 2011-2015
Table 62: Australia - Insurance Regulatory Framework Key Features
Table 63: Australia - Life Insurance Regulatory Framework
Table 64: Australia - Property Insurance Regulatory Framework
Table 65: Australia - Motor Insurance Regulatory Framework
Table 66: Australia - Liability Insurance Regulatory Framework
Table 67: Australia - Corporate Tax Rates for the Financial Year 2016
Table 68: Australian Insurance Industry - Policies and Premium, 2011-2015
Table 69: Australian Insurance Industry - Policies and Premium, 2015-2020
Table 70: Australian Non-Life Insurance - Claims and Expenses, 2011-2015
Table 71: Australian Non-Life Insurance - Claims and Expenses, 2015-2020
Table 72: Australian Non-Life Insurance - Assets and Investments, 2011-2015
Table 73: Australian Non-Life Insurance - Assets and Investments, 2015-2020
Table 74: Australian Non-Life Insurance - Direct Marketing and E-Commerce, 2011-2015
Table 75: Australian Non-Life Insurance - Direct Marketing and E-Commerce, 2015-2020
Table 76: Australian Non-Life Insurance - Insurance Brokers and Agencies, 2011-2015
Table 77: Australian Non-Life Insurance - Insurance Brokers and Agencies, 2015-2020
Table 78: Australian Non-Life Insurance - Bancassurance and Other Distribution Channels, 2011-2015
Table 79: Australian Non-Life Insurance - Bancassurance and Other Distribution Channels, 2015-2020
Table 80: Australian Non-Life Insurance - Property Insurance, 2011-2015
Table 81: Australian Non-Life Insurance - Property Insurance, 2015-2020
Table 82: Australian Non-Life Insurance - Property Insurance by Product, 2011-2015
Table 83: Australian Non-Life Insurance - Property Insurance by Product, 2015-2020
Table 84: Australian Non-Life Insurance - Motor Insurance, 2011-2015
Table 85: Australian Non-Life Insurance - Motor Insurance, 2015-2020
Table 86: Australian Non-Life Insurance - Motor Insurance by Product, 2011-2015
Table 87: Australian Non-Life Insurance - Motor Insurance by Product, 2015-2020
Table 88: Australian Non-Life Insurance - Liability Insurance, 2011-2015
Table 89: Australian Non-Life Insurance - Liability Insurance, 2015-2020
Table 90: Australian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
Table 91: Australian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
Table 92: Insurance Industry Definitions

List of Figures
Figure 1: Australian Real GDP, 2011-2020
Figure 2: Australian AUD-US$ Exchange Rate, 2011-2020
Figure 3: Australian Consumer Price Inflation, 2011-2020
Figure 4: Australian Current Account Balance (% of GDP), 2011-2020
Figure 5: Australian Unemployment Rate, 2011-2020
Figure 6: Australian Population by Age Group, 1990-2025
Figure 7: Australian Non-Life Insurance Penetration - Regional Comparison (%), 2014
Figure 8: Australian Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2014
Figure 9: Australian Non-Life Insurance - Gross Written Premium (AUD Billion), 2011-2020
Figure 10: Australian Non-Life Insurance - Penetration (%), 2011-2020
Figure 11: Australian Non-Life Insurance - Premium per Capita (AUD), 2011-2020
Figure 12: Australian Non-Life Insurance - Paid Claims (AUD Billion), 2011-2020
Figure 13: Australian Non-Life Insurance - Profitability Ratio (%), 2011-2020
Figure 14: Australian Non-Life Insurance - Total Assets (AUD Billion), 2011-2020
Figure 15: Australian Non-Life Insurance - Total Investment Income (AUD Billion), 2011-2020
Figure 16: Australian Non-Life Insurance - Investment Portfolio (AUD Billion), 2011-2020
Figure 17: Australian Non-Life Insurance - Investment Portfolio Dynamics by Category, 2011-2020
Figure 18: Australian Non-Life Insurance - Direct Written Premium by Category (AUD Billion and US$ Billion), 2011-2020
Figure 19: Australian Non-Life Insurance - Direct Written Premium Dynamics by Category, 2011-2020
Figure 20: Australian Property Insurance - Direct Written Premium by Sub-Category (AUD Billion), 2011-2020
Figure 21: Australian Property Insurance - Direct Written Premium Dynamics by Sub-Category, 2011-2020
Figure 22: Australian Property Insurance - Paid Claims (AUD Billion), 2011-2020
Figure 23: Australian Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (AUD Billion and %), 2011-2020
Figure 24: Australian Total Vehicle Census (Million), 2011-2015
Figure 25: Australian Total Vehicle Census By Type of Vehicle (% Share), 2015
Figure 26: Australian Motor Insurance - Direct Written Premium by Sub-Category (AUD Billion), 2011-2020
Figure 27: Australian Motor Insurance - Direct Written Premium Dynamics by Sub-Category, 2011-2020
Figure 28: Australian Motor Insurance - Paid Claims (AUD Billion), 2011-2020
Figure 29: Australian Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (AUD Billion and %), 2011-2020
Figure 30: Australian Liability Insurance - Direct Written Premium (AUD Billion), 2011-2020
Figure 31: Australian Liability Insurance - Paid Claims (AUD Billion), 2011-2020
Figure 32: Australian Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (AUD Billion and %), 2011-2020
Figure 33: Australian Imports and Exports of Goods and Services (AUD Billion), 2011-2015
Figure 34: Australian Marine, Aviation and Transit Insurance - Direct Written Premium (AUD Million), 2011-2020
Figure 35: Australian Marine, Aviation and Transit Insurance - Paid Claims (AUD Million), 2011-2020
Figure 36: Australian Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (AUD Million and %), 2011-2020
Figure 37: Australian Non-Life Insurance - Direct Written Premium by Distribution Channel (%), 2011, 2015 and 2020
Figure 38: Australian Average Annual Loss by Hazard (% Share), 1990-2014
Figure 39: Australian Frequency of Hazards by Type, 1990-2014
Figure 40: Australian Mortality by Natural Hazards (% Share), 1990-2014
Figure 41: Australian Economic issues of Hazards by Type, 1990-2014
Figure 42: Australian Non-Life Insurance - Segment Shares (%), 2015
Figure 43: Australia - Insurance Supervision and Control at Various Levels
Figure 44: Australia - Insurance Regulatory Frameworks for Company Registration and Operation
Figure 45: Australia - Three Pillars of Lagic Reform

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