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Insurance in Australia - Market Summary, Competitive Analysis and Forecast to 2025

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    Report

  • 46 Pages
  • November 2021
  • Region: Australia
  • MarketLine
  • ID: 5526739
Insurance in Australia industry profile provides top-line qualitative and quantitative summary information including: market size (value 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

  • The insurance market consists of the non-life and life insurance sectors. The value of the market is shown in terms of gross premium incomes.
  • The Australian insurance market had total gross written premiums of $62.9bn in 2020, representing a compound annual rate of change (CARC) of -5.4% between 2016 and 2020.
  • The non-life Insurance segment was the market's most lucrative in 2020, with total gross written premiums of $48.3bn, equivalent to 76.8% of the market's overall value.
  • The future of the pandemic remains uncertain, which makes it difficult to predict the long-term performance of the non-life insurance market. However, it is already clear that insurers will need to adapt.

Scope

  • 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

Reasons to Buy

  • What was the size of the Australia machinery market by value in 2020?
  • What will be the size of the Australia machinery market in 2025?
  • What factors are affecting the strength of competition in the Australia machinery market?
  • How has the market performed over the last five years?
  • What are the main segments that make up Australia's machinery market?
Frequently Asked Questions about the Insurance Market in Australia

What is the estimated value of the Insurance Market in Australia?

The Insurance Market in Australia was estimated to be valued at $62.91 Billion in 2020.

What is the growth rate of the Insurance Market in Australia?

The growth rate of the Insurance Market in Australia is 2.7%, with an estimated value of $71.94 Billion by 2025.

What is the forecasted size of the Insurance Market in Australia?

The Insurance Market in Australia is estimated to be worth $71.94 Billion by 2025.

Who are the key companies in the Insurance Market in Australia?

Key companies in the Insurance Market in Australia include Insurance Australia Group Ltd, Suncorp Group Ltd, QBE Insurance Group Limited and Allianz SE.

Table of Contents

1 Executive Summary
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive Landscape
2 Market Overview
2.1. Market definition
2.2. Market analysis
3 Market Data
3.1. Market value
4 Market Segmentation
4.1. Category segmentation
4.2. Geography segmentation
5 Market Outlook
5.1. Market value forecast
6 Five Forces Analysis
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 Competitive Landscape
7.1. Market share
7.2. Who are the leading players?
7.3. What strategies do leading players follow?
7.4. What are the strengths of leading players?
7.5. How are leading players incorporating new technology into their business strategies?
7.6. How has the COVID - 19 outbreak impacted the market?
8 Company Profiles
8.1. Insurance Australia Group Ltd
8.2. Suncorp Group Ltd
8.3. QBE Insurance Group Limited
8.4. Allianz SE
9 Macroeconomic Indicators
9.1. Country data
10 Appendix
10.1. Methodology
10.2. Industry associations
10.3. Related Research
10.4. About The Publisher
List of Tables
Table 1: Australia insurance market value: $ billion, 2016 - 20
Table 2: Australia insurance market category segmentation: $ billion, 2020
Table 3: Australia insurance market geography segmentation: $ billion, 2020
Table 4: Australia insurance market value forecast: $ billion, 2020 - 25
Table 5: Australia insurance market share: % share, by value, 2020
Table 6: Insurance Australia Group Ltd: key facts
Table 7: Insurance Australia Group Ltd: Annual Financial Ratios
Table 8: Insurance Australia Group Ltd: Key Employees
Table 9: Suncorp Group Ltd: key facts
Table 10: Suncorp Group Ltd: Annual Financial Ratios
Table 11: Suncorp Group Ltd: Key Employees
Table 12: QBE Insurance Group Limited: key facts
Table 13: QBE Insurance Group Limited: Annual Financial Ratios
Table 14: QBE Insurance Group Limited: Key Employees
Table 15: QBE Insurance Group Limited: Key Employees Continued
Table 16: Allianz SE: key facts
Table 17: Allianz SE: Annual Financial Ratios
Table 18: Allianz SE: Key Employees
Table 19: Allianz SE: Key Employees Continued
Table 20: Australia size of population (million), 2016 - 20
Table 21: Australia gdp (constant 2005 prices, $ billion), 2016 - 20
Table 22: Australia gdp (current prices, $ billion), 2016 - 20
Table 23: Australia inflation, 2016 - 20
Table 24: Australia consumer price index (absolute), 2016 - 20
Table 25: Australia exchange rate, 2016 - 20
List of Figures
Figure 1: Australia insurance market value: $ billion, 2016 - 20
Figure 2: Australia insurance market category segmentation: % share, by value, 2020
Figure 3: Australia insurance market geography segmentation: % share, by value, 2020
Figure 4: Australia insurance market value forecast: $ billion, 2020 - 25
Figure 5: Forces driving competition in the insurance market in Australia, 2020
Figure 6: Drivers of buyer power in the insurance market in Australia, 2020
Figure 7: Drivers of supplier power in the insurance market in Australia, 2020
Figure 8: Factors influencing the likelihood of new entrants in the insurance market in Australia, 2020
Figure 9: Factors influencing the threat of substitutes in the insurance market in Australia, 2020
Figure 10: Drivers of degree of rivalry in the insurance market in Australia, 2020
Figure 11: Australia insurance market share: % share, by value, 2020

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Insurance Australia Group Ltd
  • Suncorp Group Ltd
  • QBE Insurance Group Limited
  • Allianz SE