Summary
Non-Life 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.
Key Highlights
- The non-life insurance market consists of the general insurance market segmented into motor, property, liability and other insurance. The other segment is made up of non-life insurance products including health, travel, and accident cover among others. The value of the non-life insurance market is shown in terms of gross premium incomes. Gross premium income is defined as the insurer’s premium income for the year from its policies, calculated without reduction for reinsurance premiums paid or payable by the insurer. Any currency conversions used in the report have been calculated using constant 2017 annual average exchange rates.
- The Australian non-life insurance market had total gross written premiums of $30.0bn in 2017, representing a compound annual growth rate (CAGR) of 3.7% between 2013 and 2017.
- The motor segment was the market's most lucrative in 2017, with total gross written premiums of $13.8bn, equivalent to 45.9% of the market's overall value.
- In all of the federal states of Australia, compulsory third party (CTP)/mandatory motor vehicle accident personal injuries insurance is required. According to the Australian Bureau of Statistics, there were 19.2 million registered motor vehicles in Australia as of January 31, 2018, and the national vehicle fleet grew by 2.1% between 2017 and 2018.
Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the non-life insurance market in Australia
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in Australia
- Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Australia non-life insurance market with five year forecasts
Reasons to buy
- What was the size of the Australia non-life insurance market by value in 2017?
- What will be the size of the Australia non-life insurance market in 2022?
- What factors are affecting the strength of competition in the Australia non-life insurance market?
- How has the market performed over the last five years?
- Who are the top competitiors in Australia's non-life insurance market?
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Table of Contents
Executive Summary 2
Market value 2
Market value forecast 2
Category segmentation 2
Geography segmentation 2
Market share 2
Market rivalry 2
Market Overview 7
Market definition 7
Market analysis 7
Market Data 9
Market value 9
Market Segmentation 10
Category segmentation 10
Geography segmentation 11
Market share 12
Market Outlook 13
Market value forecast 13
Five Forces Analysis 14
Summary 14
Buyer power 15
Supplier power 17
New entrants 19
Threat of substitutes 21
Degree of rivalry 22
Leading Companies 24
Allianz Group 24
Suncorp Group Ltd 28
QBE Insurance Group Limited 31
Insurance Australia Group Limited 34
Macroeconomic Indicators 38
Country data 38
Methodology 40
Industry associations 41
Related MarketLine research 41
Appendix 42
About MarketLine 42
List of Tables
Table 1: Australia non-life insurance market value: $ billion, 2013–17
Table 2: Australia non–life insurance market category segmentation: $ billion, 2017
Table 3: Australia non–life insurance market geography segmentation: $ billion, 2017
Table 4: Australia non-life insurance market share: % share, by value, 2017
Table 5: Australia non-life insurance market value forecast: $ billion, 2017–22
Table 6: Allianz Group: key facts
Table 7: Allianz Group: key financials ($)
Table 8: Allianz Group: key financials (€)
Table 9: Allianz Group: key financial ratios
Table 10: Suncorp Group Ltd: key facts
Table 11: Suncorp Group Ltd: key financials ($)
Table 12: Suncorp Group Ltd: key financials (A$)
Table 13: Suncorp Group Ltd: key financial ratios
Table 14: QBE Insurance Group Limited: key facts
Table 15: QBE Insurance Group Limited: key financials ($)
Table 16: QBE Insurance Group Limited: key financial ratios
Table 17: Insurance Australia Group Limited: key facts
Table 18: Insurance Australia Group Limited: key financials ($)
Table 19: Insurance Australia Group Limited: key financials (A$)
Table 20: Insurance Australia Group Limited: key financial ratios
Table 21: Australia size of population (million), 2013–17
Table 22: Australia gdp (constant 2005 prices, $ billion), 2013–17
Table 23: Australia gdp (current prices, $ billion), 2013–17
Table 24: Australia inflation, 2013–17
Table 25: Australia consumer price index (absolute), 2013–17
Table 26: Australia exchange rate, 2013–17
List of Figures
Figure 1: Australia non-life insurance market value: $ billion, 2013–17
Figure 2: Australia non–life insurance market category segmentation: % share, by value, 2017
Figure 3: Australia non–life insurance market geography segmentation: % share, by value, 2017
Figure 4: Australia non-life insurance market share: % share, by value, 2017
Figure 5: Australia non-life insurance market value forecast: $ billion, 2017–22
Figure 6: Forces driving competition in the non-life insurance market in Australia, 2017
Figure 7: Drivers of buyer power in the non-life insurance market in Australia, 2017
Figure 8: Drivers of supplier power in the non-life insurance market in Australia, 2017
Figure 9: Factors influencing the likelihood of new entrants in the non-life insurance market in Australia, 2017
Figure 10: Factors influencing the threat of substitutes in the non-life insurance market in Australia, 2017
Figure 11: Drivers of degree of rivalry in the non-life insurance market in Australia, 2017
Figure 12: Allianz Group: revenues & profitability
Figure 13: Allianz Group: assets & liabilities
Figure 14: Suncorp Group Ltd: revenues & profitability
Figure 15: Suncorp Group Ltd: assets & liabilities
Figure 16: QBE Insurance Group Limited: revenues & profitability
Figure 17: QBE Insurance Group Limited: assets & liabilities
Figure 18: Insurance Australia Group Limited: revenues & profitability
Figure 19: Insurance Australia Group Limited: assets & liabilities
