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Non-Life Insurance in Australia, Key Trends and Opportunities to 2020

  • April 2016
  • -
  • Timetric
  • -
  • 136 pages

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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.

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