Life Insurance in Australia

Life Insurance in Australia

Summary

Life Insurance in Australia industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2014-18, and forecast to 2023). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

  • The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans. All currency conversions have been calculated using constant 2018 annual average exchange rates. The insurance market depends on a variety of economic and non-economic factors and future performance is difficult to predict. The forecast given in this report is not based on a complex economic model, but is intended as a rough guide to the direction in which the market is likely to move.
  • The Australian life insurance market had total gross written premiums of $30.1bn in 2018, representing a compound annual rate of change (CARC) of -10.3% between 2014 and 2018.
  • One of the main drivers of life insurance spending is consumer confidence.
  • The reasons for this recent decline range from a drop in average wages to reduced savings, meaning fewer customers have the financial capability of acquiring life insurance.
Scope
  • Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in Australia
  • Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in Australia
  • Leading company profiles reveal details of key life insurance market players’ global operations and financial performance
  • Add weight to presentations and pitches by understanding the future growth prospects of the Australia life insurance market with five year forecasts
Reasons to Buy
  • What was the size of the Australia life insurance market by value in 2018?
  • What will be the size of the Australia life insurance market in 2023?
  • What factors are affecting the strength of competition in the Australia life insurance market?
  • How has the market performed over the last five years?
  • Who are the top competitiors in Australia's life insurance market?


1 Executive Summary
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive Landscape
2 Market Overview
2.1. Market definition
2.2. Market analysis
3 Market Data
3.1. Market value
4 Market Segmentation
4.1. Category segmentation
4.2. Geography segmentation
5 Market Outlook
5.1. Market value forecast
6 Five Forces Analysis
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 Competitive Landscape
7.1. Market share
7.2. Who are the leading players?
7.3. What strategies do the leading players follow?
7.4. What is the rational for the recent M&A activity?
8 Company Profiles
8.1. Zurich Insurance Group Ltd
8.2. Dai-ichi Life Insurance Company of Vietnam Ltd
8.3. Nippon Life Insurance Company
8.4. AIA Australia Ltd
9 Macroeconomic Indicators
9.1. Country data
10 Appendix
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
List of Tables
Table 1: Australia life insurance market value: $ billion, 2014-18
Table 2: Australia life insurance market category segmentation: $ billion, 2018
Table 3: Australia life insurance market geography segmentation: $ billion, 2018
Table 4: Australia life insurance market value forecast: $ billion, 2018-23
Table 5: Australia life insurance market share: % share, by value, 2018
Table 6: Zurich Insurance Group Ltd: key facts
Table 7: Zurich Insurance Group Ltd: Annual Financial Ratios
Table 8: Zurich Insurance Group Ltd: Key Employees
Table 9: Dai-ichi Life Insurance Company of Vietnam Ltd: key facts
Table 10: Dai-ichi Life Insurance Company of Vietnam Ltd: Key Employees
Table 11: Nippon Life Insurance Company: key facts
Table 12: Nippon Life Insurance Company: Key Employees
Table 13: Nippon Life Insurance Company: Key Employees Continued
Table 14: AIA Australia Ltd: key facts
Table 15: AIA Australia Ltd: Key Employees
Table 16: Australia size of population (million), 2014-18
Table 17: Australia gdp (constant 2005 prices, $ billion), 2014-18
Table 18: Australia gdp (current prices, $ billion), 2014-18
Table 19: Australia inflation, 2014-18
Table 20: Australia consumer price index (absolute), 2014-18
Table 21: Australia exchange rate, 2014-18
List of Figures
Figure 1: Australia life insurance market value: $ billion, 2014-18
Figure 2: Australia life insurance market category segmentation: % share, by value, 2018
Figure 3: Australia life insurance market geography segmentation: % share, by value, 2018
Figure 4: Australia life insurance market value forecast: $ billion, 2018-23
Figure 5: Forces driving competition in the life insurance market in Australia, 2018
Figure 6: Drivers of buyer power in the life insurance market in Australia, 2018
Figure 7: Drivers of supplier power in the life insurance market in Australia, 2018
Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in Australia, 2018
Figure 9: Factors influencing the threat of substitutes in the life insurance market in Australia, 2018
Figure 10: Drivers of degree of rivalry in the life insurance market in Australia, 2018
Figure 11: Australia life insurance market share: % share, by value, 2018

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