1. Market Research
  2. > Financial Services
  3. > Insurance Market Trends
  4. > Australia Insurance Report Q1 2017

Australia Insurance Report Q1 2017

  • November 2016
  • -
  • Business Monitor International
  • -
  • 56 pages

Includes 3 FREE quarterly updates


BMI View:

Our forecasts remain unchanged in Q117. The absolute growth of the population and the economy should ensure that premiums in both segments of Australia's large, sophisticated and competitive insurance sector grow in real terms. However, it is easy to identify factors that limit growth in both segments. In the life segment, the insurers are to a certain extent in competition with Australia's massive superannuation funds, and are hard pressed to profit from the sale of group life products to the super funds. In the non-life segment, price competition is restraining the development of the important motor and property insurance sub-sectors.

Key Updates And Forecasts


- Weather events in mid-2016 have resulted in significant claims for the major property insurers. The risks have been laid off with reinsurers. It remains to be seen whether the increased claims are also passed back to clients in the form of higher premiums. Motor insurers are generally upbeat about plans of the government of New South Wales (NSW) to reform that state's Compulsory Third Party (CTP) motor insurance scheme. The changes should make the scheme cheaper and more affordable for motorists. The new system should include a no-fault first-party, defined benefits scheme - with access to common law damages for more serious injuries.

Table Of Contents

Australia Insurance Report Q1 2017
BMI Industry View 5
Table: Headline Insurance Forecasts (Australia 2013-2020) 5
SWOT 6
Insurance 6
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Australia 2013-2020) 11
Table: Life Insurance Claims (Australia 2009-2014) 11
Non-Life Premiums Forecast 12
Table: Non-Life Premiums (Australia 2013-2020) 15
Table: Non-Life Insurance Claims (Australia 2009-2014) 17
Non-Life Sub-Sector Forecast 17
Table: Non-Life Insurance Premiums by Product Line (Australia 2013-2020) 25
Insurance Risk/Reward Index 27
Asia Pacific Insurance Risk/Reward Index 27
Table: Asia Pacific Insurance Risk/Reward Index Q117 28
Market Overview 29
Life Market Overview 29
The Product Offering 29
The Competitive Landscape 29
Non-Life Market Overview 31
The Product Offering 31
The Competitive Landscape 31
Table: Non-Life Insurance Market (USDmn) 2008-2014 34
Company Profile 36
AMP Limited 36
Comminsure/CFSGAM 40
Insurance Australia Group 42
QBE Insurance Group 45
Suncorp Group Limited 47
Methodology 50
Industry Forecast Methodology 50
Sector-Specific Methodology 51
Risk/Reward Index Methodology 53
Table: Indicators 55
Table: Weighting of Indicators 56

View This Report »

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 24 Million searchable statistics with tables, figures & datasets
  • More than 10,000 trusted sources
24/7 Customer Support

Talk to Ahmad

+1 718 618 4302

Purchase Reports From Reputable Market Research Publishers
UK Travel Insurance: Market Dynamics and Opportunities 2016

UK Travel Insurance: Market Dynamics and Opportunities 2016

  • $ 3450
  • Industry report
  • August 2016
  • by Verdict Financial

Summary The UK travel insurance market declined by 12.3% to £625.4m in gross written premium (GWP) in 2015. This is a result of fewer policies being written, in addition to rates that have been prevented ...

The Insurance Industry in Belarus, Key Trends and Opportunities to 2020

The Insurance Industry in Belarus, Key Trends and Opportunities to 2020

  • $ 1450
  • Industry report
  • October 2016
  • by Timetric

Synopsis Timetric’s 'The Insurance Industry in Belarus, Key Trends and Opportunities to 2020' report provides a detailed analysis of Belarusian insurance industry. It provides key performance indicators ...

The Insurance Industry in Montenegro, Key Trends and Opportunities to 2020

The Insurance Industry in Montenegro, Key Trends and Opportunities to 2020

  • $ 1450
  • Industry report
  • September 2016
  • by Timetric

Synopsis Timetric’s 'The Insurance Industry in Montenegro, Key Trends and Opportunities to 2020' report provides a detailed analysis of Montenegrin insurance industry. It provides key performance indicators ...


ref:plp2016

Reportlinker.com © Copyright 2016. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.