Life Insurance in Australia

Life Insurance in Australia

  • August 2020 •
  • 43 pages •
  • Report ID: 5908794 •
  • Format: PDF
Life Insurance in Australia

Summary
Life Insurance in Australia industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2015-19, and forecast to 2024). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights
- The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans. All currency conversions have been calculated using constant 2018 annual average exchange rates. The insurance market depends on a variety of economic and non-economic factors and future performance is difficult to predict. The forecast given in this report is not based on a complex economic model, but is intended as a rough guide to the direction in which the market is likely to move.
- The Australian life insurance market had total gross written premiums of $30.1bn in 2018, representing a compound annual rate of change (CARC) of -10.3% between 2014 and 2018.
- One of the main drivers of life insurance spending is consumer confidence.
- The reasons for this recent decline range from a drop in average wages to reduced savings, meaning fewer customers have the financial capability of acquiring life insurance.

Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in Australia
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in Australia
- Leading company profiles reveal details of key life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Australia life insurance market with five year forecasts

Reasons to Buy

- What was the size of the Australia life insurance market by value in 2019?
- What will be the size of the Australia life insurance market in 2024?
- What factors are affecting the strength of competition in the Australia life insurance market?
- How has the market performed over the last five years?
- Who are the top competitiors in Australia’s life insurance market?
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