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New Zealand Insurance Report Q2 2016

New Zealand Insurance Report Q2 2016

BMI View: The New Zealand insurance market is relatively small by international standards and a subdueddomestic economic outlook weighs in on premium growth in both the life and non-life sector alikethroughout our forecast period to 2020. The strengthening of the American dollar also means that themarket will contract in 2016 once again sharply in dollar denominated terms. Over the longer term,demand for key non-life lines such as property and motor are likely to remain high while demand for lifeproducts (the smaller market currently) is expected to grow as awareness of the benefits of life products inconjunction with state-provided retirement schemes is raised.

Key Updates And Forecasts

The weakening of the New Zealand dollar continues to be a drag on the growth prospects of the insuranceindustry in terms of dollar denominated growth for both sectors. 2016 will see another strong US dollarcontraction in all insurance lines.

New Zealand's life insurance market is underdeveloped but does offer growth potential. At present, weexpect life premiums to grow broadly in line with GDP, increasing from NZD2.4bn in 2015 to NZD3bnin 2020 while over the longer term demographic trends, including an ageing population and increasinghousehold disposable income, will lead to increased demand.


BMI Industry View
Table: Headline Insurance Forecasts (New Zealand 2012-2019)
SWOT
Insurance
Industry Forecast
Life Premiums Forecast
Table: Life Premiums (New Zealand 2012-2020)
Table: Life Insurance Claims (New Zealand 2007-2014)
Non-Life Premiums Forecast
Table: Non-Life Premiums (New Zealand 2013-2020)
Table: Non-Life Insurance Claims (New Zealand 2008-2014)
Non-Life Sub-Sector Forecast
Table: Non-Life Insurance Premiums by Product Line (New Zealand 2013-2020)
Industry Risk Reward Ratings
Asia Pacific Industry Risk/Reward Index
Table: Asia Pacific Insurance Risk/Reward Index Q216
Market Overview
Life Market Overview
The Product Offering
The Competitive Landscape
Non-Life Market Overview
The Product Offering
The Competitive Landscape
Company Profile
AMP Limited
Insurance Australia Group
Sovereign
Suncorp Group
TOWER
Methodology
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

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