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General Insurance in Australia - Industry Market Research Report

Publisher IBISWorld
Published Jul 09, 2025
Length 47 Pages
SKU # IBSS20291707

Description

General Insurance in Australia

Natural disasters have been prevalent in recent years, heightening the number of claims insurers incur and forcing them to raise premiums. Higher premium income has been the lynchpin behind revenue growth. The catastrophic 2019-20 bushfire season, 2021-22 floods and the COVID-19 pandemic have eroded general insurers' profitability. The COVID-19 pandemic also changed the types of insurance claims made. Industry revenue is expected to climb at an annualised 5.2% over the five years through 2022-23, to $89.9 billion. However, volatile investment returns for most of the period have partially offset this trend. A spiking cash rate has propelled revenue, with a 12.2% jump anticipated this year.

The industry includes general insurers and reinsurers. General insurers underwrite insurance policies to cover individuals' and businesses’ financial losses associated with property, casualty, liability and other risks. Underwriting involves assuming risks and assigning premiums. Reinsurers assume all or part of the risk associated with existing insurance policies that other insurers have underwritten.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Table of Contents

47 Pages
TABLE OF CONTENTS

ABOUT THIS INDUSTRY

Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS & MARKETS

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

COMPETITIVE LANDSCAPE

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization

MAJOR COMPANIES

OPERATING CONDITIONS

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

KEY STATISTICS

Industry Data
Annual Change
Key Ratios

JARGON & GLOSSARY

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