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New Zealand Insurance Report Q4 2016

  • August 2016
  • -
  • Business Monitor International
  • -
  • 49 pages

Includes 3 FREE quarterly updates



BMI View: New Zealand's insurance sector is relatively small by global standards and subdued domesticeconomic conditions, paired with the weakening of the New Zealand dollar, means that life and non-lifepremiums growth (in USD terms) will only resume from 2018 onwards. Long-term growth will be driven inparticular by the growing consumer awareness of benefits of life products, as well rising householddisposable incomes. Across the non-life lines, demand for property and motor products should continue toremain high.Key Updates And Forecasts

- The depreciating New Zealand dollar continues to put a lid on the growth potential of both the life andnon-life insurance segments. Accordingly, our forecasts envision dollar contractions over 2016 and 2017.

- With 30% market share, New Zealand's life insurance segment is relatively young and underdeveloped;however, it does offer potential - growing at 4.8% annually on average in line with GDP. Life premiumsshould rise from NZD2.5bn in 2016 to NZD3.0bn in 2020.

- The considerably larger and well-developed non-life segment is set to grow annually by approximately3.5% over the coming five years, with gross premiums expected to rise from NZD5.6bn in 2016 toNZD6.5bn in 2020.

Table Of Contents

New Zealand Insurance Report Q4 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (New Zealand 2013-2020) 5
SWOT 6
Insurance 6
Industry Forecast 7
Life Premiums Forecast 7
Table: Life Premiums (New Zealand 2013-2020) 10
Table: Life Insurance Claims (New Zealand 2008-2015) 11
Non-Life Premiums Forecast 11
Table: Non-Life Premiums (New Zealand 2013-2020) 14
Table: Non-Life Insurance Claims (New Zealand 2009-2015) 16
Non-Life Sub-Sector Forecast 16
Table: Non-Life Insurance Premiums by Product Line (New Zealand 2013-2020) 22
Industry Risk Reward Ratings 23
Asia Pacific Industry Risk/Reward Index 23
Table: Asia Pacific Insurance Risk/Reward Index Q416 24
Market Overview 25
Life Market Overview 25
The Product Offering 25
The Competitive Landscape 26
Non-Life Market Overview 27
The Product Offering 27
The Competitive Landscape 27
Company Profile 31
AMP Limited 31
Insurance Australia Group 34
Sovereign 36
Suncorp Group 38
TOWER 41
Methodology 43
Industry Forecast Methodology 43
Risk/Reward Index Methodology 46
Table: Indicators 48
Table: Weighting of Indicators 49

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