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- 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 markets most lucrative in 2014, with total gross written premiums of $44.5bn, equivalent to 56.9% of the markets 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.
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?
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
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
Industry associations 34
Related MarketLine research 34
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 and profitability 22
Figure 12: AMP Limited: assets and liabilities 23
Figure 13: Insurance Australia Group Limited: revenues and profitability 26
Figure 14: Insurance Australia Group Limited: assets and liabilities 26
Figure 15: Suncorp Group Limited: revenues and profitability 30
Figure 16: Suncorp Group Limited: assets and liabilities 30
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