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New Zealand Insurance Report Q2 2016

  • ID: 3608831
  • January 2016
  • Region: New Zealand
  • 50 pages
  • Business Monitor International
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FEATURED COMPANIES

  • AMP Limited
  • Insurance Australia Group
  • Sovereign
  • Suncorp Group
  • TOWER
  • MORE

The New Zealand insurance market is relatively small by international standards and a subdued domestic economic outlook weighs in on premium growth in both the life and non-life sector alike throughout our forecast period to 2020. The strengthening of the American dollar also means that the market will contract in 2016 once again sharply in dollar denominated terms. Over the longer term, demand for key non-life lines such as property and motor are likely to remain high while demand for life products (the smaller market currently) is expected to grow as awareness of the benefits of life products in conjunction with state-provided retirement schemes is raised.

Key Updates And Forecasts
- The weakening of the New Zealand dollar continues to be a drag on the growth prospects of the insurance industry in terms of dollar denominated growth for both sectors. 2016 will see another strong US dollar contraction in all insurance lines.

- New Zealand's life insurance market is underdeveloped but does offer growth potential. At present, we expect life premiums to grow broadly in line with GDP, increasing from NZD2.4bn in 2015 to NZD3bn in 2020 while over the longer term demographic trends, including an ageing population and increasing household disposable income, will lead to increased demand.

Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • AMP Limited
  • Insurance Australia Group
  • Sovereign
  • Suncorp Group
  • TOWER
  • MORE

Table: Headline Insurance Forecasts (New Zealand 2012-2019)

SWOT

Insurance

Industry Forecast

Life Premiums Forecast
Table: Life Premiums (New Zealand 2012-2020)
Table: Life Insurance Claims (New Zealand 2007-2014)

Non-Life Premiums Forecast
Table: Non-Life Premiums (New Zealand 2013-2020)
Table: Non-Life Insurance Claims (New Zealand 2008-2014)

Non-Life Sub-Sector Forecast
Table: Non-Life Insurance Premiums by Product Line (New Zealand 2013-2020)

Industry Risk Reward Ratings

Asia Pacific Industry Risk/Reward Index
Table: Asia Pacific Insurance Risk/Reward Index Q216

Market Overview

Life Market Overview

The Product Offering

The Competitive Landscape

Non-Life Market Overview

The Product Offering

The Competitive Landscape

Company Profile

AMP Limited

Insurance Australia Group

Sovereign

Suncorp Group

TOWER

Methodology

Industry Forecast Methodology

Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

Note: Product cover images may vary from those shown
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AMP Limited
Insurance Australia Group
Sovereign
Suncorp Group
TOWER

Note: Product cover images may vary from those shown
4 of 4
Note: Product cover images may vary from those shown

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  • Transatlantic Holdings, Inc.
  • Aon Plc.
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  • Prudential Financial, Inc.
  • General Reinsurance Corporation
  • ING Group