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Non-Life Insurance in New Zealand, Key Trends and Opportunities to 2021

Non-Life Insurance in New Zealand, Key Trends and Opportunities to 2021

Synopsis

Timetric’s 'Non-Life Insurance in New Zealand Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the New Zealand non-life insurance segment, and a comparison of the New Zealand insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2012–2016) and forecast period (2016–2021).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the New Zealand economy and demographics, explains the various types of natural hazard and their impact on the New Zealand insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Non-Life Insurance in New Zealand Key Trends and Opportunities to 2021' report provides in-depth market analysis, information and insights into the New Zealand non-life insurance segment, including:

  • The New Zealand non-life segment’s detailed outlook by product category
  • A comprehensive overview of the New Zealand economy and demographics
  • A comparison of the New Zealand non-life insurance segment with its regional counterparts
  • The various distribution channels in the New Zealand non-life insurance segment
  • Detailed analysis of natural hazards and their impact on the New Zealand insurance industry
  • Details of the competitive landscape in the non-life insurance segment in New Zealand
  • Details of regulatory policy applicable to the New Zealand insurance industry
Scope

This report provides a comprehensive analysis of the non-life insurance segment in New Zealand:
  • It provides historical values for the New Zealand non-life insurance segment for the report’s 2012–2016 review period, and projected figures for the 2016–2021 forecast period.
  • It offers a detailed analysis of the key categories in the New Zealand non-life insurance segment, and market forecasts to 2021.
  • It provides a comparison of the New Zealand non-life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for non-life insurance products in New Zealand.
  • It analyzes various natural hazards and their impact on the New Zealand insurance industry
  • It profiles the top non-life insurance companies in New Zealand, and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the New Zealand non-life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the New Zealand non-life insurance segment.
  • Assess the competitive dynamics in the non-life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the New Zealand insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • On March 30, 2017, the Reserve Bank of New Zealand (RBNZ) issued a consultation paper on the review of the Insurance (Prudential Supervision) Act 2010.
  • On March 29, 2017, the Ministry of Internal Affairs confirmed its plans to increase the fire and emergency services levy rates.
  • On November 24, 2016, New Zealand’s Accident Compensation Corporation proposed new levy rates for businesses, car owners and employees for the period from 2017 to 2019.
  • In January 2016, the Fair Insurance Code was released by the Insurance Council of New Zealand (ICNZ) to establish high standards of service and to check the claims being resolved by insurers. All the members of the ICNZ must operate according to the code.
  • A ban on commission for insurance brokers and advisers was proposed in May 2015.


  • Key Facts and Highlights
    • Table New Zealand Non-Life Insurance – Key Facts, 2016
    • Table New Zealand Non-life Insurance – Leading Insurers, 2016
  • Executive Summary
  • Economy and Demographics
    • Table New Zealand Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table New Zealand Non-Life Insurance – Gross Written Premium (NZD Billion and US$ Billion), 2012–2016
        • Table New Zealand Non-Life Insurance – Gross Written Premium (NZD Billion and US$ Billion), 2016–2021
      • Profitability
        • Table New Zealand Non-Life Insurance – Profitability Ratio (%), 2012–2016
        • Table New Zealand Non-Life Insurance – Profitability Ratio (%), 2016–2021
  • Outlook by Category
    • Table New Zealand Non-Life Insurance – Gross Written Premium by Category (NZD Billion), 2012–2016
    • Table New Zealand Non-Life Insurance – Gross Written Premium by Category (NZD Billion), 2016–2021
    • Property Insurance
      • Product overview
      • Premium
        • Table New Zealand Property Insurance – Gross Written Premium (NZD Billion), 2012–2016
        • Table New Zealand Property Insurance – Gross Written Premium (NZD Billion), 2016–2021
      • Profitability
        • Table New Zealand Property Insurance – Loss Ratio (%), 2012–2016
        • Table New Zealand Property Insurance – Loss Ratio (%), 2016–2021
    • Motor Insurance
      • Product overview
        • Table New Zealand Vehicle Fleet Composition, 2012–2016
      • Premium
        • Table New Zealand Motor Insurance – Gross Written Premium (NZD Billion and US$ Billion), 2012–2016
        • Table New Zealand Motor Insurance – Gross Written Premium (NZD Billion and US$ Billion), 2016–2021
      • Profitability
        • Table New Zealand Motor Insurance – Loss Ratio (%), 2012–2016
        • Table New Zealand Motor Insurance – Loss Ratio (%), 2016–2021
    • Liability Insurance
      • Product overview
      • Premium
        • Table New Zealand Liability Insurance – Gross Written Premium (NZD Million and US$ Million), 2012–2016
        • Table New Zealand Liability Insurance – Gross Written Premium (NZD Million and US$ Million), 2016–2021
      • Profitability
        • Table New Zealand Liability Insurance – Loss Ratio (%), 2012–2016
        • Table New Zealand Liability Insurance – Loss Ratio (%), 2016–2021
    • Marine, Aviation and Transit Insurance
      • Product overview
        • Table New Zealand Marine, Aviation and Liability Insurance – Claims from Marine Incidents (NZD), 2012–2016
      • Premium
        • Table New Zealand Marine, Aviation and Transit Insurance – Gross Written Premium (NZD Million and US$ Million), 2012–2016
        • Table New Zealand Marine, Aviation and Transit Insurance – Gross Written Premium (NZD Million and US$ Million), 2016–2021
      • Profitability
        • Table New Zealand Marine, Aviation and Transit Insurance – Loss Ratio (%), 2012–2016
        • Table New Zealand Marine, Aviation and Transit Insurance – Loss Ratio (%), 2016–2021
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
      • Brokers
      • Financial advisers
      • E-commerce
      • Bancassurance
      • Other distribution channels
  • Natural and Man-Made Hazards
    • Table New Zealand Major Natural Hazards, 1990–2016
    • Table Top 10 Natural Hazards in New Zealand by Economic Damage, 1990–2016
    • Table Top 10 Natural Hazards in New Zealand by Number of People Affected, 1990–2016
    • Earthquakes
    • Floods and Landslides
    • Volcanoes
    • Exposure
      • Table Top Natural Hazards in New Zealand by Claims, 2014–2017
  • Competitive Landscape
    • Table New Zealand Non-life Insurance Segment – Leading Insurers, 2016
    • Company Profiles
      • IAG New Zealand Ltd – company overview
        • Table IAG New Zealand Ltd – Key Facts
      • Vero Insurance New Zealand Ltd – company overview
        • Table Vero Insurance New Zealand Ltd – Key Facts
      • Tower Insurance (NZ) Ltd – company overview
        • Table Tower Insurance (NZ) Ltd – Key Facts
      • FMG Insurance Ltd – company overview
        • Table FMG Insurance Ltd – Key Facts
      • AIG Insurance New Zealand Ltd – company overview
        • Table AIG Insurance New Zealand Ltd – Key Facts
  • Governance, Risk and Compliance
    • Table New Zealand – Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table New Zealand – Life Insurance Regulatory Framework
      • Property insurance
        • Table New Zealand – Property Insurance Regulatory Framework
      • Motor insurance
        • Table New Zealand - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table New Zealand – Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Liability insurance for maritime oil pollution
      • Insurance for clinical trials
      • Medical insurance for international students
    • Supervision and Control
      • International Association of Insurance Supervisors (IAIS)
      • Reserve Bank of New Zealand
      • Insurance Council of New Zealand
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
        • Table New Zealand – Capital Requirements for Establishment of Insurance Companies
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table New Zealand – Corporate Tax Rates for the Financial Year 2017
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Databook
    • Policies and Premium
      • Table New Zealand Insurance Industry – Policies and Premium, 2012–2016
      • Table New Zealand Insurance Industry – Policies and Premium, 2016–2021
    • Claims and Expenses
      • Table New Zealand Non-Life Insurance – Claims and Expenses, 2012–2016
      • Table New Zealand Non-Life Insurance – Claims and Expenses, 2016–2021
    • Property Insurance
      • Table New Zealand Non-Life Insurance – Property Insurance, 2012–2016
      • Table New Zealand Non-Life Insurance – Property Insurance, 2016–2021
    • Motor Insurance
      • Table New Zealand Non-Life Insurance – Motor Insurance, 2012–2016
      • Table New Zealand Non-Life Insurance – Motor Insurance, 2016–2021
    • Liability Insurance
      • Table New Zealand Non-Life Insurance – Liability Insurance, 2012–2016
      • Table New Zealand Non-Life Insurance – Liability Insurance, 2016–2021
    • Marine, Aviation and Transit Insurance
      • Table New Zealand Non-Life Insurance – Marine, Aviation and Transit Insurance, 2012–2016
      • Table New Zealand Non-Life Insurance – Marine, Aviation and Transit Insurance, 2016–2021
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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