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Australian Insurance Industry

Product Type: Market Research Report
Published by: Global Industry Analysts
Published: March 2008
Product Code: R263-3399
Description
The Australian Insurance Industry Report provides insightful analysis, market overview, industry structure and outlook of life and non-life insurance industries in the country. The report also examines the reinsurance market and other sectors of non-life insurance industry like property and health among others. The report provides a compilation and discussion on recent spate of mergers & acquisitions and other industry activities, which have irreversibly changed the landscape of the industry. Get a bird’s eye view of the latest launches of insurance products by major industry players in the country. The report also peeps into recent past/ historical perspective of the country’s insurance market and numbers maze within the industry. A regional level discussion also looks into the leading companies’ footing in these markets along with their annual written premiums and/ or market shares. The report discusses several key and niche players such as Allianz Australia Limited, AMP, CGU Insurance Ltd., Gerling Australia Insurance Company Pty Ltd., ING Australia Limited, Insurance Australia Group Ltd., QBE Insurance Group, Suncorp Metway Insurance Ltd, and Zurich Australia Insurance Limited.

Please note: Reports are sold as single-site single-user licenses. The delivery time for hard copies is between 3-5 business days, as each hard copy is custom printed for the organization ordering it. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

Adobe Acrobat Reader 7.0 is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Titles available via "online download" are not affected by this and are still delivered to your reading room immediately.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.
Table of Contents
1. Industry Overview


Australian Insurance Industry - A Market Summary


Table 1: Australian Recent Past, Current & Future Analysis


for Insurance Industry by Segment - Life and Non-Life Markets


Independently Analyzed with Annual Premium Income in US$


Million for the Years 2005 through 2010 (includes


corresponding Graph/Chart)






Table 2: Australian 6 -Year Perspective for Insurance


Industry by Segment - Percentage Breakdown of Premium Income


for Life and Non-Life Markets for 2005, 2008, and 2010


(includes corresponding Graph/Chart)






Table 3: Australian Insurance Industry (2005):Per Capita


Premium in US$ by Category - Life and Non-Life


Presence of Insurance Brokers in Australian Insurance Industry


Presence of Foreign Insurance Companies in Australian


Insurance Industry


An Effective Distribution System


Key Changes in the Marketplace


Privatization


Creation of Managed Funds


Establishment of Managed Funds in Australia


ICA Introduces New Code for Policy Holders


Ascending Premium for Public Liability Insurance Overturns


2. Review of the Sectors


2a. Life Insurance


An Overview of Australian Life Insurance Industry


Table 4: Australian Life Insurance Industry (2006):


Percentage Breakdown by Policy Type for Superannuation and


Ordinary (includes corresponding Graph/Chart)






Table 5: Australian Life Insurance Industry (2004):


Percentage Breakdown by Policy Type for Superannuation and


Ordinary(includes corresponding Graph/Chart)


Australia to Regulate Life Insurance Companies Through New Standards


Competitive Landscape


Table 6: Leading Players in Australian Life Insurance


Industry (2006): Percentage Market Share by Premiums of Major


Companies - AMP, Colonial/CBA, ING/ANZ, National Aust / MLC,


Westpac, and Others (includes corresponding Graph/Chart)






Table 7: Australian Life Insurance Industry (2006): New


Business Premiums (Single and Regular) in $ Million for


Select Companies - AMP, Aviva, Colonial/CBA, ING/ANZ,


MetLife, National Aust/MLC, National Mutual/AXA, St Andrew's


Life, Tower Life, Westpac, and Others (includes corresponding


Graph/Chart)






Table 8: Australian Life Insurance Market (2004): Premiums


Received, and Brokerage Income in A$ Million for Select


Brokers - Associated Planners Financial Services Ltd,


Charles McMillan & Associates Pty Ltd, Cuna Mutual Insurance


Brokers Pty Ltd, G L Phillips & Company Pty Ltd, and


Others(includes corresponding Graph/Chart)






Table 9: Australian Life Insurance Industry (2004): Gross


Written Premium in A$ Million by Company/Group for AMP,


National Aust/MLC, ING/ANZ, Colonial/CBA, Westpac National


Mutual/AXA, Macquarie Life, Citicorp Life, Tower Life, and


Zurich Life (includes corresponding Graph/Chart)






Table 10: Australian Life Insurance Industry (2004): New


Business (Single & Regular) Premium in A$ Million by Leading


Company/Group for Citicorp Life, Westpac, Colonial/CBA,


ING/ANZ, National Aust/MLC, National Mutual/AXA, AMP, Aviva,


Tower Life, AIG and Others(includes corresponding


Graph/Chart)






Table 11: Australian Life Insurance Industry (2003): Gross


Written Premium in US$ Billion by Leading Companies for AMP,


MLC, ING, AXA, Westpac Life, and Colonial Mutual (includes


corresponding Graph/Chart)






Table 12: Top-Five Players in the Australian Life Insurance


Industry (2002) - Gross Written Premium in US$ Million for


AMP, MLC, ING, AXA, and Westpac Life (includes corresponding


Graph/Chart)


2b. Health Insurance


Australian Health Insurance Industry


Industry Highlights


Table 13: Australian Health Insurance Industry (2004):


Percentage Market Share by Major Players - Australian Health


Management Group Ltd, Australian Unity Health Ltd, BUPA


Australia Health Pty Ltd, MBF Alliances Pty Ltd, Hospitals


Contribution Fund of Australia, Medibank Private Ltd, and


Others (includes corresponding Graph/Chart)


2c. General/Non-Life Insurance


APRA Introduces New Standards for General Insurance Sector


Public Insurance Companies of General Insurance


General Insurance Industry Witnesses Stability


Insurance Broking Business to Slow Down


Commercial General Insurance Market Segmentation


Property Insurance


Table 14: Australian General Insurance Market (2006 & 2007):


Percentage Breakdown of Premiums by Sector - Domestic Motor


Vehicle, Houseowners Insurance, CTP Motor Vehicle Insurance,


Public and Product Liability Insurance, Fire and ISR


Insurance, Commercial Motor Vehicle Insurance, Employers'


Liability Insurance, Professional Indemnity Insurance, and


Other Insurance (includes corresponding Graph/Chart)


General Insurance - A Recent Past Overview


Table 15: Australian General/Non-Life Insurance Market


(2004): Premiums Received, and Brokerage Income in A$ Million


for Select Brokers - Aon Risk Services Australia Ltd, Freeman


McMurrick Pty Ltd, Heath Lambert Australia Pty Ltd, Insurance


Advisernet Australia Pty Ltd, Jardine Lloyd Thompson Pty Ltd,


and Others (includes corresponding Graph/Chart)


Competitive Landscape


Table 16: Leading Players in Australian Non-Life Insurance


Industry (2004): Percentage Market Share by Company -


Allianz, IAG, PMN, QBE, SUN, and Others (includes


corresponding Graph/Chart)






Table 17: Australian Non-Life Insurance Industry (2003):


Gross Written Premium in US$ Billion by Leading Companies


for QBE Group, Insurance Australia Group, Promina Group,


Suncorp, and Allianz Australia (includes corresponding


Graph/Chart)






Table 18: Australian General/Non-Life Insurance Industry


(2002): Percentage Share of Premium Received (In A$ Million)


by Leading Private Sector Conglomerates (includes


corresponding Graph/Chart)


2d. Reinsurance Industry


Importance of Catastrophe Reinsurance


3. A Past Perspective


Recession Gives Way to Recovery


Table 19: Insurance Industry in Australia (2000 & 2001):


Number of Insurers by Type for Private Sector, and Public


Sector (includes corresponding Graph/Chart)






Table 20: Insurance Industry in Australia (2000 & 2001):


Premium Revenues in A$ Billion for Direct Insurers and


Reinsurers


Performance of Major Business Classes in Australia


Table 21: Insurance Industry in Australia 2000): Percentage


Share of Total Premium Revenue by Major Business Classes


(includes corresponding Graph/Chart)






Table 22: Insurance Industry in Australia (2000): Premium


Revenue (In A$ Million) and Percentage Breakdown of Leading


Private Sector Insurance Conglomerates (includes


corresponding Graph/Chart)






Table 23: Insurance Industry in Australia (2000): Premium


Revenues in A$ Million by State/Territory and Insurance


Category


Reinsurance Rate Journeys Southward


Table 24: Major Catastrophes in Australia (Losses in US$


Million) (includes corresponding Graph/Chart)






Table 25: Reinsurance Market in Australia (2000): Premium


Revenue Ceded by Type in US$ Million (includes corresponding


Graph/Chart)






Table 26: Australian Reinsurance Market (2001): Premium


Revenue by Type of Business (includes corresponding


Graph/Chart)


Corporate Restructuring


Major Corporate Restructures in Australian Private Sector


4. Product Launches


Bendigo Bank Introduces Health Insurance


Suncorp Launches Family Discount Scheme on Insurance Premiums


AAMI Launches Flexi-Premium Offer for Young Drivers and Customers


5. Recent Industry Activity


AMP Divests Gordian and Cobalt Insurance Wings for A$585 Million


Enstar Australia Acquires AMP’s Australian Insurance Operations


BUPA Australia and MBF in Merger Negotiations


APRA Issues License to MGIC


Calliden to Buy AU’s General Insurance Units


Suncorp to Sell Holding in Royal Automobile Club of Tasmania


Aviva Buys Stake in Infocus


Euler Hermes to Acquire Lumley General Insurance’s Credit Insurance Business


Genworth to Take Over Vero


Genworth Buys Out Vero Lenders


Allianz to Offer Life Insurance Products in Australia


Euler Hermes to Acquire Lumley’s Credit Insurance Division


IAG to Buy 30% Stake in AmAssurance Berhad


QBE To Acquire British Marine Holdings


Assetinsure Forays into General Aviation Insurance


Arthur J Gallagher Acquires FPE Insurance Brokers


Promina’s Vero forms Joint Venture with CTIL


Suncorp Metway Acquires AMP’S Stake in Joint Venture


OAMPS Insurance Brokers Acquire Policies of Harts One to One Insurance Solutions


AMP Signs Joint Venture with China Pacific Life Assurance


AMP Continues with its Restructuring Efforts


6. Focus on Select Australian Players


Allianz Australia Limited


AMP


CGU Insurance Limited


Gerling Australia Insurance Company Pty Ltd.


ING Australia Limited


Insurance Australia Group Ltd.


QBE Insurance Group


Suncorp Metway Insurance Ltd


Zurich Australia Insurance Limited




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