Australia Insurance Report Q4 2016

Publisher Name :
Date: 03-Sep-2016
No. of pages: 57

BMI View: We have made very few changes to our forecasts this quarter. The absolute growth of the

population and the economy should ensure that premiums in both segments of Australia's large,

sophisticated and competitive insurance sector grow in real terms. However, it is easy to identify factors

that limit growth in both segments. In the life segment, the insurers are to a certain extent in competition

with Australia's massive superannuation funds, and are hard pressed to profit from the sale of group life

products to the super funds. In the non-life segment, price competition is restraining the development of the

important motor and property insurance sub-sectors.

Key Updates And Forecasts

? Weather events in early June 2016 have resulted in significant claims for the major property insurers. The

risks have been laid off with reinsurers. It remains to be seen whether the increased claims are also passed

back to clients in the form of higher premiums. Motor insurers are generally upbeat about plans of the

government of New South Wales (NSW) to reform that state's Compulsory Third Party (CTP) motor

insurance scheme. The changes should make the scheme cheaper and more affordable for motorists. The

new system should include a no-fault first-party, defined benefits scheme - with access to common law

damages for more serious injuries.

Australia Insurance Report Q4 2016

Table of Contents

BMI Industry View 5
Table: Headline Insurance Forecasts (Australia 2013-2020) 5
Insurance 6
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Australia 2013-2020) 11
Table: Life Insurance Claims, Australia 11
Non-Life Premiums Forecast 12
Table: Non-Life Premiums (Australia 2013-2020) 15
Table: Non-Life Insurance Claims, Australia 17
Non-Life Sub-Sector Forecast 18
Table: Non-Life Insurance Premiums By Product Line (Australia 2013-2020) 26
Insurance Risk/Reward Index 28
Asia Pacific Industry Risk/Reward Index 28
Table: Asia Pacific Insurance Risk/Reward Index Q416 29
Market Overview 30
Life Market Overview 30
The Product Offering 30
The Competitive Landscape 30
Non-Life Market Overview 32
The Product Offering 32
The Competitive Landscape 32
Table: Non-Life Insurance Market (USDmn) 2008-2014 35
Company Profile 37
AMP Limited 37
Comminsure/CFSGAM 41
Insurance Australia Group 43
QBE Insurance Group 46
Suncorp Group Limited 48
Methodology 51
Industry Forecast Methodology 51
Risk/Reward Index Methodology 54
Table: Indicators 56
Table: Weighting of Indicators 57

List of Tables

Table: Headline Insurance Forecasts (Australia 2013-2020)
Table: Life Premiums (Australia 2013-2020)
Table: Life Insurance Claims, Australia
Table: Non-Life Premiums (Australia 2013-2020)
Table: Non-Life Insurance Claims, Australia
Table: Non-Life Insurance Premiums By Product Line (Australia 2013-2020)
Table: Asia Pacific Insurance Risk/Reward Index Q416
Table: Non-Life Insurance Market (USDmn) 2008-2014
Table: Indicators
Table: Weighting of Indicators
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