Insurance in Australia

Insurance in Australia industry profile provides top-line qualitative and quantitative summary information including: market size (value 2010-14, and forecast to 2019). 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 data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

  • 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 life insurance sector consists of mortality protection and annuity. The non-life insurance sector consists of accident and health, and property and casualty insurance segments. 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 intended as a rough guide to the direction in which the market is likely to move. This forecast is based on a correlation between past market growth and growth of base drivers, such as house price growth, GDP growth and long-term interest rates. All currency conversions have been calculated at constant annual 2013 average exchange rates.
  • The Australian insurance market is expected to generate total gross written premiums of $78.3bn in 2014, representing a compound annual growth rate (CAGR) of 0.6% between 2010 and 2014.
  • The life insurance segment is expected to be the market's most lucrative in 2014, with total gross written premiums of $44.5bn, equivalent to 56.9% of the market's overall value.
  • The performance of the market is forecast to follow a similar pattern with an anticipated CAGR of 0.7% for the five-year period 2014 - 2019, which is expected to drive the market to a value of $80.9bn by the end of 2019.

Scope

Save time carrying out entry-level research by identifying the size, growth, 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

Macroeconomic indicators provide insight into general trends within the Australia economy

Reasons to buy

What was the size of the Australia insurance market by value in 2014?

What will be the size of the Australia insurance market in 2019?

What factors are affecting the strength of competition in the Australia insurance market?

How has the market performed over the last five years?

Companies mentioned

AMP Limited, Insurance Australia Group Limited, TAL Limited and Suncorp Group Limited

AMP Limited, Insurance Australia Group Limited, TAL Limited and Suncorp Group Limited

Table of Contents

TABLE OF CONTENTS

Executive Summary 2

Market value 2

Market value forecast 2

Category segmentation 2

Geography segmentation 2

Market rivalry 2

Market Overview 7 ...

TABLE OF CONTENTS

Executive Summary 2

Market value 2

Market value forecast 2

Category segmentation 2

Geography segmentation 2

Market rivalry 2

Market Overview 7

Market definition 7

Market analysis 7

Market Data 8

Market value 8

Market Segmentation 9

Category segmentation 9

Geography segmentation 10

Market Outlook 11

Market value forecast 11

Five Forces Analysis 12

Summary 12

Buyer power 13

Supplier power 15

New entrants 17

Threat of substitutes 18

Degree of rivalry 19

Leading Companies 20

AMP Limited 20

Insurance Australia Group Limited 24

TAL Limited 27

Suncorp Group Limited 28

Macroeconomic Indicators 31

Country Data 31

Methodology 33

Industry associations 34

Related MarketLine research 34

Appendix 35

About MarketLine 35

LIST OF TABLES

Table 1: Australia insurance market value: $ billion, 2010–14(e) 8

Table 2: Australia insurance market category segmentation: $ billion, 2014(e) 9

Table 3: Australia insurance market geography segmentation: $ billion, 2014(e) 10

Table 4: Australia insurance market value forecast: $ billion, 2014–19 11

Table 5: AMP Limited: key facts 20

Table 6: AMP Limited: key financials ($) 21

Table 7: AMP Limited: key financials (A$) 21

Table 8: AMP Limited: key financial ratios 22

Table 9: Insurance Australia Group Limited: key facts 24

Table 10: Insurance Australia Group Limited: key financials ($) 25

Table 11: Insurance Australia Group Limited: key financials (A$) 25

Table 12: Insurance Australia Group Limited: key financial ratios 25

Table 13: TAL Limited: key facts 27

Table 14: Suncorp Group Limited: key facts 28

Table 15: Suncorp Group Limited: key financials ($) 29

Table 16: Suncorp Group Limited: key financials (A$) 29

Table 17: Suncorp Group Limited: key financial ratios 29

Table 18: Australia size of population (million), 2010–14 31

Table 19: Australia gdp (constant 2005 prices, $ billion), 2010–14 31

Table 20: Australia gdp (current prices, $ billion), 2010–14 31

Table 21: Australia inflation, 2010–14 32

Table 22: Australia consumer price index (absolute), 2010–14 32

Table 23: Australia exchange rate, 2010–14 32

LIST OF FIGURES

Figure 1: Australia insurance market value: $ billion, 2010–14(e) 8

Figure 2: Australia insurance market category segmentation: % share, by value, 2014(e) 9

Figure 3: Australia insurance market geography segmentation: % share, by value, 2014(e) 10

Figure 4: Australia insurance market value forecast: $ billion, 2014–19 11

Figure 5: Forces driving competition in the insurance market in Australia, 2014 12

Figure 6: Drivers of buyer power in the insurance market in Australia, 2014 13

Figure 7: Drivers of supplier power in the insurance market in Australia, 2014 15

Figure 8: Factors influencing the likelihood of new entrants in the insurance market in Australia, 2014 17

Figure 9: Factors influencing the threat of substitutes in the insurance market in Australia, 2014 18

Figure 10: Drivers of degree of rivalry in the insurance market in Australia, 2014 19

Figure 11: AMP Limited: revenues & profitability 22

Figure 12: AMP Limited: assets & liabilities 23

Figure 13: Insurance Australia Group Limited: revenues & profitability 26

Figure 14: Insurance Australia Group Limited: assets & liabilities 26

Figure 15: Suncorp Group Limited: revenues & profitability 30

Figure 16: Suncorp Group Limited: assets & liabilities 30

List of Tables

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List of Figures

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