Australia Insurance market dominated by Household Insurance Industry: Ken research
Upcoming SlideShare
Loading in...5
×
 

Australia Insurance market dominated by Household Insurance Industry: Ken research

on

  • 1,003 views

Future Growth Led by rising demand of annuity insurance through government support

Future Growth Led by rising demand of annuity insurance through government support

Statistics

Views

Total Views
1,003
Views on SlideShare
1,003
Embed Views
0

Actions

Likes
0
Downloads
8
Comments
0

0 Embeds 0

No embeds

Accessibility

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

Australia Insurance market dominated by Household Insurance Industry: Ken research Australia Insurance market dominated by Household Insurance Industry: Ken research Document Transcript

  • 1© This is a licensed product of Ken Research and should not be copied
  • 2© This is a licensed product of Ken Research and should not be copiedTABLE OF CONTENTS1. Asia-Pacific Insurance Industry1.1. Industry Introduction1.2. Asia-Pacific Insurance Market Size by Direct Written Premium, 2005-2012P1.3. Asia-Pacific Insurance Market Segmentation1.3.1. By Geography, 2005-2012P1.3.2. By Life and Non Life, 2005-2012P1.4. Asia-Pacific Insurance Industry Future Outlook1.4.1. By Geography, 2013-20162. Australia Insurance Industry2.1. Australia Insurance Value Chain2.2. Australia Insurance Market Size by Direct Written Premium, FY’2005-FY’20123. Australia Insurance Government Regulations4. Australia Life Insurance Market4.1. Australia Life Insurance Market Size, FY’2005-FY’20124.2. Australia Life Insurance Market Future Outlook and Projection, FY’2013-FY’20165. Australia Non-Life Insurance Market5.1. Australia Non-Life Insurance Market Size, FY’2005-FY’20125.2. Non-Life Insurance Segmentation, FY’2005-FY’20125.2.1. Australia Health Insurance Industry5.2.1.1. Australia Health Insurance Market Size, FY’2005-FY’20125.2.1.2. Market Share of Major Health Insurers in Australia, FY’20125.2.1.3. Australia Health Insurance Market Future Outlook and Projection, FY’2013-FY’20165.2.2. Australia Motor Vehicle Insurance Industry5.2.2.1. Australia Motor Vehicle Insurance Market Size, FY’2005-FY’2012
  • 3© This is a licensed product of Ken Research and should not be copied5.2.2.2. Motor Vehicle Insurance Segmentation, FY’2005-FY’20125.2.2.3. Market Share of Major Motor Vehicle Insurers in Australia, FY’20125.2.2.4. Australia Motor Vehicle insurance Market Future Outlook and Projection,FY’2013-FY’20165.2.3. Australia Household Insurance Industry5.2.3.1. Australia Household Insurance Market Size, FY’2005-FY’20125.2.3.2. Market Share of Major Household Insurers in Australia, FY’20125.2.3.3. Australia Household Insurance Market Future Outlook and Projection, FY’2013-FY’20165.2.4. Australia Liability Insurance Industry5.2.4.1. Australia Liability Insurance Market Size, FY’2005-FY’20125.2.4.2. Liability Insurance Segmentation, FY’2005-FY’20125.2.4.3. Australia Liability insurance Market Future Outlook and Projection, FY’2013-FY’20165.2.5. Australia Fire and ISR Insurance Industry5.2.5.1. Australia Fire and ISR Insurance Market Size, FY’2005-FY’20125.2.5.2. Australia Fire and ISR Insurance Market Future Outlook and Projection,FY’2013-FY’20165.2.5.3. Market Share of Major Non Life Insurers in Australia, FY’20125.3. Australia Non-Life Insurance Market Future Outlook and Projection, FY’2013-FY’20166. Australia Insurance Industry Trends and Developments7. Asia-Pacific Insurance Industry Future Outlook7.1. Asia-Pacific Insurance Industry Future Projections7.2. By Geography, 2013-20168. Australia Insurance Industry Future Projections, FY’2013-FY’20168.1. Cause and Effect Relationship Between Dependent and Independent Factors Prevailing inAustralia Insurance Market9. Company Profile of Major Players in Australia Life Insurance Industry
  • 4© This is a licensed product of Ken Research and should not be copied10. Company Profile of Major Players in Australia Non-Life Insurance Industry10.1. Suncorp Group10.1.1. Company Profile10.1.2. Business Strategies10.1.3. Financial Performance10.2. Insurance Australia Group10.2.1. Company Profile10.2.2. Business Strategies10.2.3. Financial Performance11. Australia Insurance Industry Macro-Economic Indicators: Historical and Projections11.1. Australia Population, 2005-201611.2. GDP of Australia, 2005-201611.3. Healthcare Expenditure of Australia, 2005-201611.4. Total number of Vehicle in Use in Australia, 2005-201612. Appendix12.1. Market Definitions12.2. Abbreviations12.3. Research MethodologyData Collection MethodsApproachVariables (Dependent and Independent)Multi Factor Based Sensitivity ModelFinal Conclusion12.4. Disclaimer
  • 5© This is a licensed product of Ken Research and should not be copiedLIST OF FIGURESFigure 1: Asia-Pacific Insurance Market Size on the Basis of Direct Written Premium in USDMillion, 2005-2012PFigure 2: Asia-Pacific Insurance Market Segmentation by Life and non Life on the Basis ofDirect Written Premium in Percentage, 2005-2012PFigure 3: Insurance Value ChainFigure 4: Australia Insurance Market Size on the Basis of Direct Written Premium in USDMillion, FY’2005-FY’2012Figure 5: Australia Life Insurance Market Size on the Basis of Direct Written Premium in USDMillion, FY’2005-FY’2012Figure 6: Australia Life Insurance Market Projections on the Basis of Direct Written Premium inUSD Million, FY’2013-FY’2016Figure 7: Australia Non Life Insurance Market Size on the Basis of Direct Written Premium inUSD Million, FY’2005-FY’2012Figure 8: Australia Non life Insurance Market Segmentation by Health, Motor Vehicle,Household, liability, Fire and ISR and Others on the Basis of Direct Written Premium inPercentage, FY’2005-FY’2012Figure 9: Australia Health Insurance Market Size on the Basis of Direct Written Premium inUSD Million, FY’2005-FY’2012Figure 10: Market Share of Major Non Life Insurers on the Basis of Number of Policies inPercentage, FY’2012Figure 11: Australia Health Insurance Market Projections on the Basis of Direct WrittenPremium in USD Million, FY’2013-FY’2016Figure 12: Australia Motor Vehicle Insurance Market Size on the Basis of Direct WrittenPremium in USD Million, FY’2005-FY’2012Figure 13: Australia Motor Vehicle Insurance Market Segmentation by Domestic, CTP andCommercial Motor Vehicle Insurance on the Basis of Direct Written Premium in Percentage,FY’2005-FY’2012Figure 14: Market Share of Major Motor Vehicle Insurers on the Basis of Direct WrittenPremium in Percentage, FY’2012
  • 6© This is a licensed product of Ken Research and should not be copiedFigure 15: Australia Household Insurance Market Size on the Basis of Direct Written Premiumin USD Million, FY’2005-FY’2012Figure 16: Market Share of Major Household Insurers on the Basis of Direct Written Premium inPercentage, FY’2012Figure 17: Australia Household Insurance Market Projections on the Basis of Direct WrittenPremium in USD Million, FY’2013-FY’2016Figure 18: Australia Liability Insurance Market Size on the Basis of Direct Written Premium inUSD Million, FY’2005-FY’2012Figure 19: Australia Liability Insurance Market Segmentation by Public and Product Liability,Employers Liability and Professional Indemnity Insurance on the Basis of Direct WrittenPremium in Percentage, FY’2005-FY’2012Figure 20: Australia Fire and ISR Insurance Market Size on the Basis of Direct Written Premiumin USD Million, FY’2005-FY’2012Figure 21: Australia Fire and ISR Insurance Market Projections on the Basis of Direct WrittenPremium in USD Million, FY’2013-FY’2016Figure 22: Market Share of Major Non Life Insurers on the Basis of Direct Written Premium inPercentage, FY’2012Figure 23: Australia Non life Insurance Market Projections on the Basis of Direct WrittenPremium in USD Million, FY’2013-FY’2016Figure 24: Australia Insurance Market Projections on the Basis of Direct Written Premium inUSD Million, FY’2013-FY’2016Figure 25: Australia Non-Life Insurance Gross Written Premium of Suncrop Group in USDMillion, FY’2011-FY’2012Figure 26: Australia Non-Life Insurance Gross Written Premium of Insurance Australia Group inUSD Million, FY’2005-FY’2012Figure 26: Australia Population in Million, 2005-2016Figure 27: GDP of Australia in USD Million, 2005-2016Figure 28: Healthcare Expenditure of Australia in USD Million, 2005-2016Figure 29: Total Number of Vehicle in Use in Australia in Million, 2005-2016
  • 7© This is a licensed product of Ken Research and should not be copiedLIST OF TABLESTable 1: Asia-Pacific Insurance Market Segmentation by Countries on the Basis of DirectWritten Premium in USD Billion, 2005-2012PTable 2: Asia-Pacific Insurance Market Segmentation by Life and Non Life on the Basis ofDirect Written Premium in USD Billion, 2005-2012PTable 3: Asia-Pacific Insurance Market Projections by Countries on the Basis of Direct WrittenPremium in USD Million, 2013-2016Table 3: Market Share of Major Non Life Insurers on the Basis of Number of Policies inThousand Units, FY’2012Table 4: Australia Motor Vehicle Insurance Market Segmentation by Domestic, CTP andCommercial Motor Vehicle Insurance on the Basis of Direct Written Premium in USD Million,2005-2012Table 6: Market Share of Major Motor Vehicle Insurers on the Basis of Direct Written Premiumin USD Million, FY’2012Table 7: Australia Motor Vehicle Insurance Market Projections on the Basis of Direct WrittenPremium in USD Million, FY’2013-FY’2016Table 8: Market Share of Major Household Insurers on the Basis of Direct Written Premium inUSD Million, FY’2012Table 9: Australia Liability Insurance Market Segmentation by Public and Product Liability,Employers Liability and Professional Indemnity Insurance on the Basis of Direct WrittenPremium in USD Million, FY’2005-FY’2012Table 10: Australia Liability Insurance Market Projections on the Basis of Direct WrittenPremium in USD Million, FY’2013-FY’2016Table 11: Market Share of Major Non Life Insurers on the Basis of Direct Written Premium inUSD Million, FY’2012Table 12: Asia-Pacific Insurance Market Projections by Countries on the Basis of Direct WrittenPremium in USD Million, 2013-2016Table 13: Cause and Effect Relationship Analysis between Industry Factors and ExpectedIndustry Prospects of Australia Insurance Market
  • 8© This is a licensed product of Ken Research and should not be copiedTable 14: Company Profile of Major Players in Australia Life Insurance Industry, FY’2012Table 15: Correlation Matrix of Australia Insurance IndustryTable 16: Regression Coefficients Output of Australia Insurance Industry
  • 9© This is a licensed product of Ken Research and should not be copiedASIA-PACIFIC INSURANCE MARKET SIZE BY DIRECT WRITTENPREMIUM, 2005-2012PThe insurance market in Asia-Pacific region has grown remarkably over the past few years dueto the growth in the emerging markets such as China, Japan, India, Australia, Taiwan and SouthKorea. The countries in the Asia-Pacific region are at different stages of economic developmentunlike the European countries and the US which has created significant opportunities for theinsurers in the region in order to serve the financial needs of the customers. The market in theregion has grown at a CAGR of 11.9% from USD ~ million in 2005 to USD ~million in 2012…Figure: Asia-Pacific Insurance Market Size on the Basis of Direct Written Premium inUSD Million, 2005-2012P0.02,00,000.04,00,000.06,00,000.08,00,000.010,00,000.012,00,000.014,00,000.016,00,000.02005 2006 2007 2008 2009 2010 2011 2012PUSDMillion
  • 10© This is a licensed product of Ken Research and should not be copiedChina insurance industry is one ofthe predominant markets in theinsurance industry in the Asia-Pacific region with a contributionof ~% of the direct writtenpremium in the region in 2012.ASIA-PACIFIC INSURANCE MARKET SEGMENTATIONBY GEOGRAPHY, 2005-2012PAsia-Pacific insurance industry is majorly contributed by 6 major countries such as Japan, China,South Korea, Taiwan, India and Australia with the share of ~% in 2012. Japan insurance marketis the second largest in the world with the contribution ofmore than ~% in 2012…. The China insurance industry isone of the predominant markets in the insurance industryin the Asia-Pacific region with a contribution of ~% of thedirect written premium in the region in 2012…South Korea is the third largest market with a contributionof ~% in 2012. The country insurance sector is morecomplicated with limited growth opportunities in comparison with the growing market in theregion such as China and India…Table: Asia-Pacific Insurance Market Segmentation by Countries on the Basis of DirectWritten Premium in USD Billion, 2005-2012PCountries 2005 2006 2007 2008 2009 2010 2011 2012PJapanChinaSouthKoreaTaiwanIndiaAustraliaHongKongSingaporeThailandMalaysiaIndonesia
  • 11© This is a licensed product of Ken Research and should not be copiedNewZealandPhilippinesVietnamPakistanKazakhstanBangladeshSri LankaTotal
  • 12© This is a licensed product of Ken Research and should not be copiedAUSTRALIA INSURANCE INDUSTRYAUSTRALIA INSURANCE MARKET SIZE BY DIRECT WRITTENPREMIUM, FY’2005-FY’2012….In FY’2012, there are ~ licensed insurance companies operating in Australia of which ~ weredirect insurers and ~ were reinsurers….The insurance market of Australia has experienced decline in the growth rate from ~% inFY’2011 to ~% in FY’2012... The industry has also experienced the decline in the solvencymargin ratio from ~% in 2009 to ~% in 2012…Figure: Australia Insurance Market Size on the Basis of Direct Written Premium in USDMillion, FY’2005-FY’2012Note:FY ending- 30stJuneLife Insurance is in Net Written PremiumNon-Life Insurance is in Gross Written Premium0.020,000.040,000.060,000.080,000.01,00,000.01,20,000.0FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012USDMillion
  • 13© This is a licensed product of Ken Research and should not be copiedAUSTRALIA LIFE INSURANCE MARKETAUSTRALIA LIFE INSURANCE MARKET FUTURE OUTLOOK ANDPROJECTION, FY’2013-FY’2016Under the base case scenario analysis, the life insurance market of Australia is expected to growat a CAGR of 5.9% in the next four years and the market is predicted to record direct writtenpremium of USD ~ million in FY’2016…In the worst case scenario analysis, the life insurance market is predicted to record direct writtenpremium of USD ~ million in FY’2016…The best case scenario analysis assumes that the market is expected to grow at a strong CAGR of~% from FY’2013-FY’2016…Figure: Australia Life Insurance Market Projections on the Basis of Direct WrittenPremium in USD Million, FY’2013-FY’2016Note: FY ending- 30stJuneLife Insurance is in Net Written Premium0.010,000.020,000.030,000.040,000.050,000.060,000.070,000.0FY2013 FY2014 FY2015 FY2016USDMillionWorst Case Base Case Best Case
  • 14© This is a licensed product of Ken Research and should not be copiedAUSTRALIA NON-LIFE INSURANCE MARKETAUSTRALIA NON-LIFE INSURANCE MARKET SIZE, FY’2005-FY’2012The general insurance industry in Australia has experienced a growth of ~% with the directwritten premium of USD ~ million in FY’2012 compared to USD ~ million in FY’2011. Thegrowth in the market is primarily driven by an increase in the household and in the fire andindustrial special risk class by ~% and ~% respectively in FY’2012.In FY’2012, the industry’s gross incurred claim has reached to AUD ~ billion in comparison toAUD ~ billion in FY’2011 due to the reduced gross claims arising from the lower incidence andimpact of natural disaster in the year.Figure: Australia Non Life Insurance Market Size on the Basis of Direct Written Premiumin USD Million, FY’2005-FY’2012Note: FY ending- 30stJuneNon-Life Insurance is in Gross Written Premium0.010,000.020,000.030,000.040,000.050,000.060,000.0FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012USDMillion
  • 15© This is a licensed product of Ken Research and should not be copiedNON-LIFE INSURANCE SEGMENTATION, FY’2005-FY’2012The Australian non life insurance industry is segmented into health insurance, automobileinsurance, household insurance, liability insurance, fire and industrial special risk insurance andothers. The health insurance segment is the leading contributor in the general insurance industrywith the share of ~% and the direct written premium of USD 17,314.6 million in FY’2012.The motor insurance industry is the second largest contributor in the general insurance industryof Australia contributing around ~% in FY’2012. The motor insurance industry in the country isfurther segmented into domestic, commercial and third party motor vehicle insurance…Figure: Australia Non life Insurance Market Segmentation by Health, Motor Vehicle,Household, liability, Fire and ISR and Others on the Basis of Direct Written Premium inPercentage, FY’2005-FY’2012Note: FY ending- 30stJuneNon-Life Insurance is in Gross Written Premium0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%80.0%90.0%100.0%FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012InPercentage%Others Fire and ISR Liability Household Motor Vehicle Health
  • 16© This is a licensed product of Ken Research and should not be copiedAUSTRALIA HEALTH INSURANCE INDUSTRYMARKET SHARE OF MAJOR HEALTH INSURERS IN AUSTRALIA,FY’2012The health insurance market in Australia is a concentrated market with the top five players suchas Medibank, Bupa, Hospital Contribution Fund (HCF), HBF and NIB has contributed around~% in FY’2012.Medibank is the leading provider of health insurance service in the country with the share of ~%and number of policies is ~ thousand in FY’2012.Figure: Market Share of Major Non Life Insurers on the Basis of Number of Policies inPercentage, FY’2012Note: FY ending- 30stJuneMedibankBupaHospital Contribution Fund(HCF)HBFNIBOthers
  • 17© This is a licensed product of Ken Research and should not be copiedTable: Market Share of Major Non Life Insurers on the Basis of Number of Policies inThousand Units, FY’2012Players FY’2012MedibankBupaHospital Contribution Fund (HCF)HBFNIBOthersTotalNote: FY ending- 30stJune
  • 18© This is a licensed product of Ken Research and should not be copiedAUSTRALIA HOUSEHOLD INSURANCE INDUSTRYAUSTRALIA HOUSEHOLD INSURANCE MARKET FUTUREOUTLOOK AND PROJECTION, FY’2013-FY’2016The Australian household insurance is expected to grow at a CAGR of 13.1% in the next fouryears and is predicted to record direct written premium of USD ~ million in FY’2014…Figure: Australia Household Insurance Market Projections on the Basis of Direct WrittenPremium in USD Million, FY’2013-FY’2016Note: FY ending- 30stJuneHousehold Insurance is in Gross Written Premium0.02,000.04,000.06,000.08,000.010,000.012,000.014,000.0FY2013 FY2014 FY2015 FY2016USDMillion
  • 19© This is a licensed product of Ken Research and should not be copiedAUSTRALIA INSURANCE INDUSTRY TRENDS ANDDEVELOPMENTSRISING SALES OF ANNUITY INSURANCE THROUGH GOVERNMENT SUPPORTIn Australia, Superannuation Guarantee (SG) is an officially compulsory made by employers onthe behalf of their employees...ASIA-PACIFIC INSURANCE INDUSTRY FUTUREOUTLOOK…Overall, the market of the Asia-Pacific insurance is expected to grow at a CAGR of 11.2%from 2013-2016. The market in the near future is expected to witness consolidation and highercompetition level with the entrance of more global players in the market…ASIA-PACIFIC INSURANCE INDUSTRY FUTURE PROJECTIONSBY GEOGRAPHY, 2013-2016The Asia-Pacific Insurance industry is expected to grow at a CAGR of 11.2% from 2013-2016on account of the rising population in the emerging markets of Asia such as India and China. It isanticipated that the total direct written premium of the insurance products will increase to USD ~million in 2016 from USD ~ million in 2012.
  • 20© This is a licensed product of Ken Research and should not be copiedTable: Asia-Pacific Insurance Market Projections by Countries on the Basis of DirectWritten Premium in USD Million, 2013-2016Countries 2013 2014 2015 2016JapanChinaSouth KoreaTaiwanIndiaAustraliaHong KongSingaporeThailandMalaysiaIndonesiaNew ZealandPhilippinesVietnamPakistanKazakhstanBangladeshSri LankaTotal
  • 21© This is a licensed product of Ken Research and should not be copiedAUSTRALIA INSURANCE INDUSTRY FUTUREPROJECTIONS, FY’2013-FY’2016….Under the base case scenario analysis, the Australian insurance market is anticipated to growat a CAGR of 9.1% from FY’2013-FY’2016 and is predicted to record direct written premium ofUSD ~ million in FY’2015.The worst/conservative case scenario analysis assumes that the market will grow at a CAGR of2.0% in the next four years…The best case scenario analysis predicts that the industry will grow at a phenomenal CAGR of12.1% from FY’2013-FY’2016 and is expected to register direct written premium of USD ~million in FY’2016...Figure: Australia Insurance Market Projections on the Basis of Direct Written Premium inUSD Million, FY’2013-FY’2016Note:FY ending- 30stJuneLife Insurance is in Net Written PremiumNon-Life Insurance is in Gross Written Premium0.020,000.040,000.060,000.080,000.01,00,000.01,20,000.01,40,000.01,60,000.01,80,000.0FY2013 FY2014 FY2015 FY2016USDMillionWorst Case Base Case Best Case
  • 22© This is a licensed product of Ken Research and should not be copiedCAUSE AND EFFECT RELATIONSHIP BETWEEN DEPENDENT ANDINDEPENDENT FACTORS PREVAILING IN AUSTRALIAINSURANCE MARKETTable: Cause and Effect Relationship Analysis between Industry Factors and ExpectedIndustry Prospects of Australia Insurance MarketIndustry Factors Market Impact CommentsStrict GovernmentRegulations andSupport Cause: Positive Effect:IncreasingPopulation Cause: Effect:.IncreasingConsumerSpending Cause: Effect:.IntensifyingCompetition Cause: Positive Effect: Negative Effect:DISCLAIMERNo part of this manual or any material appearing may be reproduced, stored in or transmittedon any other Web site without written permission of Ken Research and any payments of aspecified fee. Requests to republish any material may be sent to us.