Key Market Indicators
The Australian Gross Written Premium (GWP) is projected to climb to approximately $68 billion by 2028. This marks an increase from $61.5 billion in 2023, reflecting an average annual growth rate of 1.6%. Despite this projected growth, Australia's supply of GWP has seen a historical decline. Since 1988, the country's supply has decreased at an average annual rate of 2.6%. In the global ranking for 2023, Australia held the 9th position. Singapore slightly outpaced Australia, also recording a GWP of around $61.5 billion. Leading the rankings are the United Kingdom, Germany, and the Netherlands, securing the 2nd, 3rd, and 4th spots respectively.
Australia Insurance Innovation Articles
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Why Allianz’s Latest Moves Are a Game Changer for the Insurance World
May 19th 2025
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Redefining Insurance: RAA and Duck Creek’s Strategic Technology Leap
Apr 11th 2025
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Why Suncorp and Duck Creek’s Partnership Is a Game-Changer for Insurance Tech
Dec 25th 2024
Australia Insurance Consumer Trends Articles
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Navigating New Waters: How Allianz Partners’ Strategic Alliance with Norwegian Cruise Line is Shaping the Future of Travel Insurance
May 18th 2025
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The Great Australian Health Insurance Walkout: A Crisis in the Making?
Mar 7th 2025
Australia Insurance Regulation Articles
More about Insurance RegulationAustralia Insurance Key Players Articles
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Allianz and RAA Seal a Monumental $642M Insurance Partnership: A New Era for General Insurance in Australia
Dec 24th 2024
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The Titans of Life Insurance in Asia: Steering the Future with Vision and Vigor
Nov 16th 2024
Latest reports
Australia Insurance Market Report- Q1 2025
The Insurance Australia market in Q1 2025 is characterized by significant shifts across various segments, influenced by macroeconomic conditions and demographic trends. These...
Australia Insurance Market Report- Q4 2024
In Q4 2024, the Australian insurance market continued to navigate a dynamic landscape marked by significant strategic movements, regulatory changes, and technological advancements....
