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Insurance in Australia

Insurance in Australia

Summary

Insurance in Australia industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2013-17, and forecast to 2022). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.Essential resource for top-line data and analysis covering the Australia insurance market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Key Highlights

  • The insurance market consists of the non-life insurance sector and the life insurance sector. The value of the market is shown in terms of gross premium incomes.
  • The Australian insurance market had total gross written premiums of $62.2bn in 2017, representing a compound annual rate of change (CARC) of 0% between 2013 and 2017.
  • The life segment was the market's most lucrative in 2017, with total gross written premiums of $32.2bn, equivalent to 51.7% of the market's overall value.
  • A hike in premiums of motor insurance in 2016 led the market’s growth to accelerate that year. In particular, the state of Western Australia recorded rapid premium growth. A report released by the Australian Competition and Consumer Commission (ACCC) found that between 2007-2008 and 2016-2017, the average combined home and contents premiums, adjusted to account for changes in the sum insured, have increased by between 23%-67% in Northern Australia, compared to just 16% in the rest of Australia.
Scope
  • Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the insurance market in Australia
  • Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the insurance market in Australia
  • Leading company profiles reveal details of key insurance market players’ global operations and financial performance
  • Add weight to presentations and pitches by understanding the future growth prospects of the Australia insurance market with five year forecasts
Reasons to buy
  • What was the size of the Australia insurance market by value in 2017?
  • What will be the size of the Australia insurance market in 2022?
  • What factors are affecting the strength of competition in the Australia insurance market?
  • How has the market performed over the last five years?
  • Who are the top competitiors in Australia's insurance market?


Executive Summary
Market value
Market value forecast
Category segmentation
Geography segmentation
Market share
Market rivalry
Market Overview
Market definition
Market analysis
Market Data
Market value
Market Segmentation
Category segmentation
Geography segmentation
Market share
Market Outlook
Market value forecast
Five Forces Analysis
Summary
Buyer power
Supplier power
New entrants
Threat of substitutes
Degree of rivalry
Leading Companies
Allianz Group
QBE Insurance Group Limited
Suncorp Group Ltd
TAL Dai-ichi Life Australia Pty Ltd
Macroeconomic Indicators
Country data
Methodology
Industry associations
Related MarketLine research
Appendix
About MarketLine
List of Tables
Table 1: Australia insurance market value: $ billion, 2013-17
Table 2: Australia insurance market category segmentation: $ billion, 2017
Table 3: Australia insurance market geography segmentation: $ billion, 2017
Table 4: Australia insurance market share: % share, by value, 2017
Table 5: Australia insurance market value forecast: $ billion, 2017-22
Table 6: Allianz Group: key facts
Table 7: Allianz Group: key financials ($)
Table 8: Allianz Group: key financials (€)
Table 9: Allianz Group: key financial ratios
Table 10: QBE Insurance Group Limited: key facts
Table 11: QBE Insurance Group Limited: key financials ($)
Table 12: QBE Insurance Group Limited: key financial ratios
Table 13: Suncorp Group Ltd: key facts
Table 14: Suncorp Group Ltd: key financials ($)
Table 15: Suncorp Group Ltd: key financials (A$)
Table 16: Suncorp Group Ltd: key financial ratios
Table 17: TAL Dai-ichi Life Australia Pty Ltd: key facts
Table 18: Australia size of population (million), 2013-17
Table 19: Australia gdp (constant 2005 prices, $ billion), 2013-17
Table 20: Australia gdp (current prices, $ billion), 2013-17
Table 21: Australia inflation, 2013-17
Table 22: Australia consumer price index (absolute), 2013-17
Table 23: Australia exchange rate, 2013-17
List of Figures
Figure 1: Australia insurance market value: $ billion, 2013-17
Figure 2: Australia insurance market category segmentation: % share, by value, 2017
Figure 3: Australia insurance market geography segmentation: % share, by value, 2017
Figure 4: Australia insurance market share: % share, by value, 2017
Figure 5: Australia insurance market value forecast: $ billion, 2017-22
Figure 6: Forces driving competition in the insurance market in Australia, 2017
Figure 7: Drivers of buyer power in the insurance market in Australia, 2017
Figure 8: Drivers of supplier power in the insurance market in Australia, 2017
Figure 9: Factors influencing the likelihood of new entrants in the insurance market in Australia, 2017
Figure 10: Factors influencing the threat of substitutes in the insurance market in Australia, 2017
Figure 11: Drivers of degree of rivalry in the insurance market in Australia, 2017
Figure 12: Allianz Group: revenues & profitability
Figure 13: Allianz Group: assets & liabilities
Figure 14: QBE Insurance Group Limited: revenues & profitability
Figure 15: QBE Insurance Group Limited: assets & liabilities
Figure 16: Suncorp Group Ltd: revenues & profitability
Figure 17: Suncorp Group Ltd: assets & liabilities

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