BMI View: Both major segments of New Zealand's insurance sector will grow broadly in line with nominalGDP. In both the life and the non-life segments, the socialisation of risk-bearing constrains opportunitiesfor insurers. In the life segment, significant amounts flow to the KiwiSaver funds and other savings productsthat are, strictly speaking, outside the insurance sector.
Key Updates And Forecasts
We have left our forecasts broadly unchanged this quarter on the basis of results announced by majorinsurers in relation to H216.