Insurance in Australia

Introduction

Insurance in Australia industry profile provides top-line qualitative and quantitative summary information including: market size (value 2006-10, and forecast to 2015). 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 and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Highlights

*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 2010 average exchange rate.

*The Australian insurance market had total gross written premiums of $72.5 billion in 2010, representing a compound annual growth rate (CAGR) of 3.2% between 2006 and 2010.

*The life insurance segment was the market's most lucrative in 2010, with total gross written premiums of $38 billion, equivalent to 52.4% of the market's overall value.

*The performance of the market is forecast to accelerate, with an anticipated CAGR of 6.6% for the five-year period 2010 - 2015, which is expected to drive the market to a value of $100 billion by the end of 2015.

Features

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

Key Questions Answered

What was the size of the Australia insurance market by value in 2010?

What will be the size of the Australia insurance market in 2015?

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

How has the market performed over the last five years?

What are the main segments that make up Australia's insurance market?
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TABLE OF CONTENTS
EXECUTIVE SUMMARY 2
MARKET OVERVIEW 7
Market definition 7
Research highlights 8
Market analysis 9
MARKET VALUE 10
MARKET SEGMENTATION I 11
MARKET SEGMENTATION II 12
FIVE FORCES ANALYSIS 13
Summary 13
Buyer power 14
Supplier power 15
New entrants 16
Substitutes 17
Rivalry 18
LEADING COMPANIES 19
AMP Limited 19
MLC Lifetime Company Ltd. 23
ING Australia Limited 24
MARKET FORECASTS 27
Market value forecast 27
MACROECONOMIC INDICATORS 28
APPENDIX 30
Methodology 30
Industry associations 31
Related Datamonitor research 31
Disclaimer 32
ABOUT DATAMONITOR 33
Premium Reports 33
Summary Reports 33
Datamonitor consulting 33

LIST OF TABLES
Table 1: Australia insurance market value: $ million, 2006–10 10
Table 2: Australia insurance market segmentation I:% share, by value, 2010 11
Table 3: Australia insurance market segmentation II: % share, by value, 2010 12
Table 4: AMP Limited: key facts 19
Table 5: AMP Limited: key financials ($) 20
Table 6: AMP Limited: key financial ratios 21
Table 7: MLC Lifetime Company Ltd.: key facts 23
Table 8: ING Australia Limited: key facts 24
Table 9: ING Australia Limited: key financials ($) 24
Table 10: ING Australia Limited: key financials (€) 25
Table 11: ING Australia Limited: key financial ratios 25
Table 12: Australia insurance market value forecast: $ million, 2010–15 27
Table 13: Australia size of population (million), 2006–10 28
Table 14: Australia GDP (constant 2000 prices, $ billion), 2006–10 28
Table 15: Australia GDP (current prices, $ billion), 2006–10 28
Table 16: Australia inflation, 2006–10 29
Table 17: Australia consumer price index (absolute), 2006–10 29
Table 18: Australia exchange rate, 2006–10 29

LIST OF FIGURES
Figure 1: Australia insurance market value: $ million, 2006–10 10
Figure 2: Australia insurance market segmentation I:% share, by value, 2010 11
Figure 3: Australia insurance market segmentation II: % share, by value, 2010 12
Figure 4: Forces driving competition in the insurance market in Australia, 2010 13
Figure 5: Drivers of buyer power in the insurance market in Australia, 2010 14
Figure 6: Drivers of supplier power in the insurance market in Australia, 2010 15
Figure 7: Factors influencing the likelihood of new entrants in the insurance market in Australia, 2010 16
Figure 8: Factors influencing the threat of substitutes in the insurance market in Australia, 2010 17
Figure 9: Drivers of degree of rivalry in the insurance market in Australia, 2010 18
Figure 10: AMP Limited: revenues & profitability 21
Figure 11: AMP Limited: assets & liabilities 22
Figure 12: ING Australia Limited: revenues & profitability 26
Figure 13: ING Australia Limited: assets & liabilities 26
Figure 14: Australia insurance market value forecast: $ million, 2010–15 27


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