Australian Insurance Industry - Global Strategic Business Report

  • ID: 604666
  • Report
  • Region: Global, Australia
  • 36 pages
  • Global Industry Analysts, Inc
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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.

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AUSTRALIAN INSURANCE INDUSTRY

A STRATEGIC BUSINESS REPORT

CONTENTS

1. Industry Overview AU-1
Australian Insurance Industry - A Market Summary AU-1
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) AU-2

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) AU-2

Table 3: Australian Insurance Industry (2005):Per Capita
Premium in US$ by Category - Life and Non-Life AU-2
Presence of Insurance Brokers in Australian Insurance Industry AU-3
Presence of Foreign Insurance Companies in Australian
Insurance Industry AU-3
An Effective Distribution System AU-3
Key Changes in the Marketplace AU-3
Privatization AU-4
Creation of Managed Funds AU-4
Establishment of Managed Funds in Australia AU-4
ICA Introduces New Code for Policy Holders AU-4
Ascending Premium for Public Liability Insurance Overturns AU-4

2. Review of the Sectors AU-5

2a. Life Insurance AU-5
An Overview of Australian Life Insurance Industry AU-5
Table 4: Australian Life Insurance Industry (2006):
Percentage Breakdown by Policy Type for Superannuation and
Ordinary (includes corresponding Graph/Chart) AU-6

Table 5: Australian Life Insurance Industry (2004):
Percentage Breakdown by Policy Type for Superannuation and
Ordinary(includes corresponding Graph/Chart) AU-6
Australia to Regulate Life Insurance Companies Through New
Standards AU-6
Competitive Landscape AU-7
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) AU-7

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 Andrews
Life, Tower Life, Westpac, and Others (includes corresponding
Graph/Chart) AU-8

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) AU-8

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) AU-9

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) AU-9

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) AU-10

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) AU-10

2b. Health Insurance AU-11
Australian Health Insurance Industry AU-11
Industry Highlights AU-12
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) AU-12

2c. General/Non-Life Insurance AU-13
APRA Introduces New Standards for General Insurance Sector AU-13
Public Insurance Companies of General Insurance AU-13
General Insurance Industry Witnesses Stability AU-13
Insurance Broking Business to Slow Down AU-14
Commercial General Insurance Market Segmentation AU-14
Property Insurance AU-14
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) AU-15
General Insurance - A Recent Past Overview AU-15
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) AU-16
Competitive Landscape AU-16
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) AU-16

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) AU-17

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) AU-17

2d. Reinsurance Industry AU-18
Importance of Catastrophe Reinsurance AU-18

3. A Past Perspective AU-19
Recession Gives Way to Recovery AU-19
Table 19: Insurance Industry in Australia (2000 & 2001):
Number of Insurers by Type for Private Sector, and Public
Sector (includes corresponding Graph/Chart) AU-19

Table 20: Insurance Industry in Australia (2000 & 2001):
Premium Revenues in A$ Billion for Direct Insurers and
Reinsurers AU-20
Performance of Major Business Classes in Australia AU-20
Table 21: Insurance Industry in Australia 2000): Percentage
Share of Total Premium Revenue by Major Business Classes
(includes corresponding Graph/Chart) AU-20

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) AU-21

Table 23: Insurance Industry in Australia (2000): Premium
Revenues in A$ Million by State/Territory and Insurance
Category AU-22
Reinsurance Rate Journeys Southward AU-22
Table 24: Major Catastrophes in Australia (Losses in US$
Million) (includes corresponding Graph/Chart) AU-23

Table 25: Reinsurance Market in Australia (2000): Premium
Revenue Ceded by Type in US$ Million (includes corresponding
Graph/Chart) AU-23

Table 26: Australian Reinsurance Market (2001): Premium
Revenue by Type of Business (includes corresponding
Graph/Chart) AU-24
Corporate Restructuring AU-25
Major Corporate Restructures in Australian Private Sector AU-25

4. Product Launches AU-26
Bendigo Bank Introduces Health Insurance AU-26
Suncorp Launches Family Discount Scheme on Insurance Premiums AU-26
AAMI Launches Flexi-Premium Offer for Young Drivers and
Customers AU-26

5. Recent Industry Activity AU-27
AMP Divests Gordian and Cobalt Insurance Wings for A$585 Million AU-27
Enstar Australia Acquires AMP’s Australian Insurance Operations AU-27
BUPA Australia and MBF in Merger Negotiations AU-27
APRA Issues License to MGIC AU-27
Calliden to Buy AU’s General Insurance Units AU-27
Suncorp to Sell Holding in Royal Automobile Club of Tasmania AU-28
Aviva Buys Stake in Infocus AU-28
Euler Hermes to Acquire Lumley General Insurance’s Credit
Insurance Business AU-28
Genworth to Take Over Vero AU-28
Genworth Buys Out Vero Lenders AU-28
Allianz to Offer Life Insurance Products in Australia AU-29
Euler Hermes to Acquire Lumley’s Credit Insurance Division AU-29
IAG to Buy 30% Stake in AmAssurance Berhad AU-29
QBE To Acquire British Marine Holdings AU-29
Assetinsure Forays into General Aviation Insurance AU-29
Arthur J Gallagher Acquires FPE Insurance Brokers AU-29
Promina’s Vero forms Joint Venture with CTIL AU-30
Suncorp Metway Acquires AMP’S Stake in Joint Venture AU-30
OAMPS Insurance Brokers Acquire Policies of Harts One to One
Insurance Solutions AU-30
AMP Signs Joint Venture with China Pacific Life Assurance AU-30
AMP Continues with its Restructuring Efforts AU-30

6. Focus on Select Australian Players AU-31
Allianz Australia Limited AU-31
AMP AU-31
CGU Insurance Limited AU-31
Gerling Australia Insurance Company Pty Ltd. AU-32
ING Australia Limited AU-32
Insurance Australia Group Ltd. AU-32
QBE Insurance Group AU-32
Suncorp Metway Insurance Ltd AU-32
Zurich Australia Insurance Limited AU-33
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