Marktanalyse - Life Insurance in Australia, Key Trends and Opportunities to 2016

Synopsis
The report provides in depth market analysis, information and insights into the Australian life insurance market, including:
• The Australian life insurance market’s growth prospects by life insurance categories and customer segments
• The various distribution channels in Australian life insurance market
• The competitive landscape in the Australian life insurance market
• A description of the life reinsurance market in Australia

Summary
The Australian life insurance segment was the largest segment in the overall Australian insurance industry during the review period in terms of gross written premium. The life insurance business in Australia is also considered to be one of the most competitive of its kind in the Asia-Pacific region due to a strict regulatory environment that keeps a check on pricing and a concentrated life insurance market.

Scope
This report provides a comprehensive analysis of the life insurance market in Australia:
• It provides historical values for the Australian life insurance market for the report’s 2007—2011 review period and forecast figures for the 2012—2016 forecast period
• It offers a detailed analysis of the key sub-segments in the Australian life insurance market, along with market forecasts until 2016
• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
• It analyses the various distribution channels for insurance products in Australia
• Using Porter’s industry-standard 'Five Forces” analysis, it details the competitive landscape in Australia for life insurance business
• It provides a detailed analysis of the reinsurance market in Australia and its growth prospects
• It profiles the top life insurance companies in Australia and outlines the key regulations affecting them

Reasons To Buy
• Make strategic business decisions using in depth historic and forecast market data related to the Australian life insurance market and each sector within it
• Understand the demand-side dynamics, key market trends and growth opportunities within the Australian life insurance market
• Assess the competitive dynamics in the life insurance market, along with the reinsurance segment
• Identify the growth opportunities and market dynamics within key product categories
• Gain insights into key regulations governing the Australian insurance market and its impact on companies and the market's future

Key Highlights
• The Australian life insurance segment registered a positive annual growth rate even during the global economic crisis in 2009.
• The Australian government’s interventions created some major trends in the life insurance segment during the review period, which helped to shape the demand for life insurance and retirement savings in Australia.
• Australia’s higher life expectancy was a key growth driver in the Australian life insurance segment during the review period.
• The sale of long-term life insurance products related to pensions supported the growth of the life insurance segment during the review period.
• The life insurance segment in Australia is highly competitive and underpenetrated and is expected to register a strong growth in new policy sales, which Australian life insurance providers can capitalize on over the forecast period.


Press Release:

Life Insurance in Australia, Key Trends and Opportunities to 2016

The Australian life insurance segment was the largest segment in the overall Australian insurance industry during the review period, and the life insurance segment accounted for a share of 46.1% of the total insurance industry written premiums in 2011. The life insurance business in Australia is also considered to be one of the most competitive of its kind in the Asia-Pacific region. The Australian life insurance segment registered a positive annual growth rate even during the global economic crisis in 2009. Over the forecast period (2012—2016), Australia’s life insurance growth will be driven by a number of factors, including government initiatives to promote life insurance, Australia’s aging population and the country’s low penetration of life insurance in Australia, which provides opportunities for further development. As such, the segment is expected to register a compound annual growth rate (CAGR) of 3.6% over the forecast period.

Favorable governmental initiatives and regulatory environment
The Australian government’s interventions created some significant trends in the life insurance segment during the review period, which helped shape the demand for life insurance and retirement savings in Australia. The government unbound risk and savings products, and allowed the emergence of bancassurance models due to a deregulation reform and the implementation of demutualization. These initiatives changed the business models for developing the Australian life insurance segment during the review period, as they provided more access to saving products, such as insurance schemes, and encouraged the rapid development of bancassurance. Furthermore, the Australian life insurance segment is highly regulated by the Australian Prudential Regulation Authority (APRA), which regulates the life insurance providers, and the Australian Securities and Investment Commission (ASIC), which ensures there are adequate disclosure requirements and consumer protection measures in place. The guidance of these two organizations supported the growth of life insurance in Australia during the review period.

Low penetration rate will support the growth
The life insurance penetration rate as a percentage of GDP was low in Australia, at 2.67% in 2011. This was below the life insurance penetration of advanced countries such as Singapore, at 7.9%, Taiwan, at 13.9%, and South Korea, at 9.1% in 2011. This low penetration provides opportunities for Australian life insurance providers to sell more products to an underpenetrated market. However, when calculating the Australian life insurance penetration rate by dividing the number of policies by the total population, the penetration rate stood at 76.2% in 2011. As the consumer awareness of the benefits of life insurance increase, and the government initiates policies to encourage the sale of life insurance, the penetration of life insurance as a percentage of GDP is expected to increase.

Increase in life expectancy
Australia’s higher life expectancy was a key growth driver in the Australian life insurance segment during the review period. Life expectancy is used to calculate the premium that should be paid by policy holders while purchasing a life insurance policy. As such, the rising life expectancy allows insurance companies to charge better premiums and generate more revenue. In Australia, the life expectancy increased, since the number of people aged over 65 rose from 13.4% of the population in 2007 to 14.0% in 2011, and is expected to reach 19.3% in 2030. This increase will drive the growth of Australian life insurance written premiums over the forecast period.

Table of Contents

1 Executive Summary

2 Introduction

2.1 What is this Report About?

2.2 Definitions

2.3 Methodology

3 Australian Insurance Industry Attractiveness

3.1 Insurance Industry Market Size, 2007—2016

3.2 Key Industry Trends and Drivers

3.2.1 Business drivers

3.2.2 Consumer drivers

3.3 Recent Market Developments

4 Life Insurance Segment Outlook

4.1 Life Insurance Growth Prospects by Category

4.1.1 Individual life insurance category

4.1.2 Individual general annuity category

4.1.3 Individual pension category

4.1.4 Individual unit-linked insurance sub-category

4.1.5 Individual term life Insurance category

4.1.6 Individual others category

4.1.7 Group life insurance category

4.1.8 Group superannuation category

4.1.9 Group unit-linked insurance sub-category

4.2 Life Insurance Growth Prospects by Individual and Group Policies

4.2.1 Individual single-premium policies

4.2.2 Individual non-single-premium policies

4.2.3 Group single-premium policies

4.2.4 Group non-single-premium policies

5 Analysis by Distribution Channel

5.1 Direct Marketing Channel

5.2 Bancassurance Channel

5.3 Agencies Channel

5.4 E-Commerce Channel

5.5 Brokers Channel

5.6 Other Channels

6 Regulatory Policies

7 Porter’s Five Forces Analysis: Australia Life Insurance

7.1 Bargaining Power of Supplier: Low to Medium

7.2 Bargaining Power of Buyer: Medium

7.3 Barriers to Entry: Medium to High

7.4 Intensity of Rivalry: Medium to High

7.5 Threat of Substitutes: Medium

8 Reinsurance Growth Dynamics and Challenges

8.1 Reinsurance market size, 2007—2016

8.2 Reinsurance segment size by type of insurance, 2007—2016

9 Competitive Landscape and Strategic Insights

9.1 Overview

9.2 Leading Companies in the Australia Life Insurance Segment

9.3 Comparison of Five Leading Life Insurers

9.3.1 Gross written premium

9.3.2 Net earned premiums

9.3.3 Paid claims

9.3.4 Total assets

9.3.5 Total investment income

9.4 Cuna Mutual Life Australia Limited — Company Overview

9.4.1 Cuna Mutual Life Australia Limited — key facts

9.4.2 Cuna Mutual Life Australia Limited — key financials

9.5 AMP Life Limited — Company Overview

9.5.1 AMP Life Limited — key facts

9.5.2 AMP Life Limited — key financials

9.6 MLC Lifetime Company Limited — Company Overview

9.6.1 MLC Lifetime Company Limited — key facts

9.6.2 MLC Lifetime Company Limited — key financials

9.7 TAL Life Limited — Company Overview

9.7.1 TAL Life Limited — key facts

9.7.2 TAL Life Limited — key financials

9.8 AIA Australia Limited — Company Overview

9.8.1 AIA Australia Limited — key facts

9.8.2 AIA Australia Limited — key financials

9.9 Westpac Life Insurance Services Limited — Company Overview

9.9.1 Westpac Life Insurance Services Limited — key facts

9.9.2 Westpac Life Insurance Services Limited — key financials

10 Business Environment and Country Risk

10.1 Business Confidence

10.1.1 Business confidence indicator

10.1.2 Market capitalization trend — the Australian securities exchange, Australia

10.2 Economic Performance

10.2.1 GDP at constant prices (US dollar)

10.2.2 GDP per capita at constant prices (US dollar)

10.2.3 GDP at current prices (US dollar)

10.2.4 GDP per capita at current prices (US dollar)

10.2.5 GDP by key segments

10.2.6 Agricultural net output at current prices (AUD)

10.2.7 Agricultural net output at current prices (US dollar)

10.2.8 Agricultural net output at current prices as a percentage of GDP

10.2.9 Manufacturing net output at current prices (AUD)

10.2.10 Manufacturing net output at current prices (US dollar)

10.2.11 Manufacturing net output at current prices as a percentage of GDP

10.2.12 Mining, manufacturing and utilities net output at current prices (AUD)

10.2.13 Mining, manufacturing and utilities at current prices (US dollar)

10.2.14 Mining, manufacturing and utilities at current prices, as percentage of GDP

10.2.15 Construction net output at current prices (AUD)

10.2.16 Construction net output at current prices, (US dollar)

10.2.17 Construction net output at current prices as a percentage of GDP

10.2.18 Inflation rate

10.2.19 Current account balance as a percentage of GDP

10.2.20 Exports as a percentage of GDP

10.2.21 Imports as a percentage of GDP

10.2.22 Exports growth

10.2.23 Imports growth

10.2.24 Annual average exchange rate US$—AUD

10.2.25 End-of-period exchange rate US$—AUD

10.3 Infrastructure Quality and Availability

10.3.1 Total airports and sea ports

10.3.2 Railways and roadways

10.3.3 Passenger vehicle production volume

10.3.4 Commercial vehicle production volume

10.3.5 Automotive component exports trend

10.3.6 Automotive component imports trend

10.3.7 Passenger car penetration

10.3.8 Healthcare expenditure

10.3.9 Healthcare expenditure as a percentage of GDP

10.3.10 Healthcare expenditure per capita

10.3.11 Total internet subscribers

10.4 Labor Force

10.4.1 Labor force

10.4.2 Unemployment rate

10.5 Demographics

10.5.1 Annual disposable income

10.5.2 Annual per capita disposable income

10.5.3 Total population

10.5.4 Urban and rural population

10.5.5 Females as a percentage of the total population

10.5.6 Males as a percentage of the total population

10.5.7 Mean age of the population

10.5.8 Median age of population

10.5.9 Population density

10.5.10 Age distribution of the total population

10.5.11 Age distribution of the male population

10.5.12 Age distribution of the female population

10.5.13 Number of households

10.6 Political and Social Risk

10.6.1 Political stability

10.6.2 Terrorism index

10.6.3 Transparency index

11 Appendix

11.1 Methodology

11.2 Contact Us

11.3 About Timetric

11.4 Disclaimer



List of Tables

Table 1: Insurance Industry Definitions

Table 2: Australian Insurance Overall Written Premium by Segment (AUD Billion), 2007—2011

Table 3: Australian Insurance Overall Written Premium by Segment (US$ Billion), 2007—2011

Table 4: Australia Insurance Overall Written Premium by Segment (AUD Billion), 2011—2016

Table 5: Australia Insurance Overall Written Premium by Segment (US$ Billion), 2011—2016

Table 6: Australian Insurance Segmentation (% Share), 2007—2016

Table 7: Life Insurance Written Premium by Category (AUD Billion), 2007—2011

Table 8: Life Insurance Written Premium by Category (US$ Billion), 2007—2011

Table 9: Life Insurance Written Premium by Category (AUD Billion), 2011—2016

Table 10: Life Insurance Written Premium by Category (US$ Billion), 2011—2016

Table 11: Life Insurance — Earned Premium (AUD Billion), 2007—2011

Table 12: Life Insurance — Earned Premium (AUD Billion), 2011—2016

Table 13: Life Insurance — Sum Assured (AUD Trillion), 2007—2011

Table 14: Life Insurance — Sum Assured (AUD Trillion), 2011—2016

Table 15: Life Insurance — Paid Claims (AUD Billion), 2007—2011

Table 16: Life Insurance — Paid Claims (AUD Billion), 2011—2016

Table 17: Life Insurance — Incurred Loss (AUD Billion), 2007—2011

Table 18: Life Insurance — Incurred Loss (AUD Billion), 2011—2016

Table 19: Life Insurance — Loss Ratio (%), 2007—2011

Table 20: Life Insurance — Loss Ratio (%), 2011—2016

Table 21: Life Insurance — Commissions and Expenses (AUD Billion), 2007—2011

Table 22: Life Insurance — Commissions and Expenses (AUD Billion), 2011—2016

Table 23: Life Insurance — Combined Ratio (%), 2007—2011

Table 24: Life Insurance — Combined Ratio (%), 2011—2016

Table 25: Life Insurance — Frauds and Crimes (AUD Billion), 2007—2011

Table 26: Life Insurance — Frauds and Crimes (AUD Billion), 2011—2016

Table 27: Life Insurance — Total Assets (AUD Billion), 2007—2011

Table 28: Life Insurance — Total Assets (AUD Billion), 2011—2016

Table 29: Life Insurance — Total Investment Income (AUD Billion), 2007—2011

Table 30: Life Insurance — Total Investment Income (AUD Billion), 2011—2016

Table 31: Life Insurance — Retentions (AUD Billion), 2007—2011

Table 32: Life Insurance — Retentions (AUD Billion), 2011—2016

Table 33: Individual Life Insurance Category — Number of Active Policies (Thousand), 2007—2011

Table 34: Individual Life Insurance Category — Number of Active Policies, 2011—2016

Table 35: Individual Life Insurance Category — Written Premium (AUD Billion), 2007—2011

Table 36: Individual Life Insurance Category — Written Premium (AUD Billion), 2011—2016

Table 37: Individual General Annuity Category — Number of Active Policies (Thousand), 2007—2011

Table 38: Individual General Annuity Category — Number of Active Policies (Thousand), 2011—2016

Table 39: Individual General Annuity Category — Written Premium (AUD Billion), 2007—2011

Table 40: Individual General Annuity Category — Written Premium (AUD Billion), 2011—2016

Table 41: Individual Pension Category — Number of Active Policies (Thousand), 2007—2011

Table 42: Individual Pension Category — Number of Active Policies (Thousand), 2011—2016

Table 43: Individual Pension Category — Written Premium (AUD Billion), 2007—2011

Table 44: Individual Pension Category — Written Premium (AUD Billion), 2011—2016

Table 45: Individual Unit-Linked Insurance Sub-Category — Number of Active Policies (Thousand), 2007—2011

Table 46: Individual Unit-Linked Insurance Sub-Category — Number of Active Policies (Thousand), 2011—2016

Table 47: Individual Unit-Linked Insurance Sub-Category — Written Premium (AUD Billion), 2007—2011

Table 48: Individual Unit-Linked Insurance Sub-Category — Written Premium (AUD Billion), 2011—2016

Table 49: Individual Term Life Insurance Category — Number of Active Policies (Thousand), 2007—2011

Table 50: Individual Term Life Insurance Category — Number of Active Policies (Thousand), 2011—2016

Table 51: Individual Term Life Insurance Category — Written Premium (AUD Billion), 2007—2011

Table 52: Individual Term Life Insurance Category — Written Premium (AUD Billion), 2011—2016

Table 53: Individual Others Category — Number of Active Policies (Thousand), 2007—2011

Table 54: Individual Others Category — Number of Active Policies (Thousand), 2011—2016

Table 55: Individual Others Category — Written Premium (AUD Billion), 2007—2011

Table 56: Individual Others Category — Written Premium (AUD Billion), 2011—2016

Table 57: Group Life Insurance Category — Number of Active Policies (Thousand), 2007—2011

Table 58: Group Life Insurance Category — Number of Active Policies (Thousand), 2011—2016

Table 59: Group Life Insurance Category — Written Premium (AUD Billion), 2007—2011

Table 60: Group Life Insurance Category — Written Premium (AUD Billion), 2011—2016

Table 61: Group Superannuation Category — Number of Active Policies (Thousand), 2007—2011

Table 62: Group Superannuation — Number of Active Policies (Thousand), 2011—2016

Table 63: Group Superannuation Category — Written Premium (AUD Billion), 2007—2011

Table 64: Group Superannuation Category — Written Premium (AUD Billion), 2011—2016

Table 65: Group Unit-Linked Insurance Sub-Category — Number of Active Policies (Thousand), 2007—2011

Table 66: Group Unit-Linked Insurance Sub-Category — Number of Active Policies (Thousand), 2011—2016

Table 67: Group Unit-Linked Insurance Sub-Category — Written Premium (AUD Billion), 2007—2011

Table 68: Group Unit-Linked Insurance Sub-Category — Written Premium (AUD Billion), 2011—2016

Table 69: Individual Single-Premium Policies — Number of Active Policies (Thousand), 2007—2011

Table 70: Individual Single-Premium Policies — Number of Active Policies (Thousand), 2011—2016

Table 71: Individual Single-Premium Policies — Written Premium (AUD Billion), 2007—2011

Table 72: Individual Single-Premium Policies — Written Premium (AUD Billion), 2011—2016

Table 73: Individual Non-Single-Premium Policies — Number of Active Policies (Thousand), 2007—2011

Table 74: Individual Non-Single-Premium Policies — Number of Active Policies (Thousand), 2011—2016

Table 75: Individual Non-Single-Premium Policies — Written Premium (AUD Billion), 2007—2011

Table 76: Individual Non-Single-Premium Policies — Written Premium (AUD Billion), 2011—2016

Table 77: Group Single-Premium Policies — Number of Active Policies (Thousand), 2007—2011

Table 78: Group Single-Premium Policies — Number of Active Policies (Thousand), 2011—2016

Table 79: Group Single-Premium Policies — Written Premium (AUD Billion), 2007—2011

Table 80: Group Single-Premium Policies — Written Premium (AUD Billion), 2011—2016

Table 81: Group Non-Single-Premium Policies — Number of Active Policies (Thousand), 2007—2011

Table 82: Group Non-Single-Premium Policies — Number of Active Policies (Thousand), 2011—2016

Table 83: Group Non-Single-Premium Policies — Written Premium (AUD Billion), 2007—2011

Table 84: Group Non-Single-Premium Policies — Written Premium (AUD Billion), 2011—2016

Table 85: Life Insurance — Direct Marketing Commission Paid (AUD Billion), 2007—2011

Table 86: Life Insurance — Direct Marketing Commission Paid (AUD Billion), 2011—2016

Table 87: Life Insurance — New Business Written Premium Through Direct Marketing (AUD Billion), 2007—2011

Table 88: Life Insurance — New Business Written Premium Through Direct Marketing (AUD Billion), 2011—2016

Table 89: Life Insurance — New Policies Sold Through Direct Marketing (Thousand), 2007—2011

Table 90: Life Insurance — New Policies Sold Through Direct Marketing (Thousand), 2011—2016

Table 91: Life Insurance — Number of Direct Marketing Distributors, 2007—2011

Table 92: Life Insurance — Number of Direct Marketing Distributors, 2011—2016

Table 93: Life Insurance — Bancassurance Commission Paid (AUD Billion), 2007—2011

Table 94: Life Insurance — Bancassurance Commission Paid (AUD Billion), 2011—2016

Table 95: Life Insurance — New Business Written Premium Through Bancassurance (AUD Billion), 2007—2011

Table 96: Life Insurance — New Business Written Premium Through Bancassurance (AUD Billion), 2011—2016

Table 97: Life Insurance — New Policies Sold Through Bancassurance (Thousand), 2007—2011

Table 98: Life Insurance — New Policies Sold Through Bancassurance (Thousand), 2011—2016

Table 99: Life Insurance — Number of Bancassurance Distributors, 2007—2011

Table 100: Life Insurance — Number of Bancassurance Distributors, 2011—2016

Table 101: Life Insurance — Commission Paid to Agencies (AUD Billion), 2007—2011

Table 102: Life Insurance — Commission Paid to Agencies (AUD Billion), 2011—2016

Table 103: Life Insurance — New Business Written Premium Through Agencies (AUD Billion), 2007—2011

Table 104: Life Insurance — New Business Written Premium Through Agencies (AUD Billion), 2011—2016

Table 105: Life Insurance — New Policies Sold Through Agencies (Thousand), 2007—2011

Table 106: Life Insurance — New Policies Sold Through Agencies (Thousand), 2011—2016

Table 107: Life Insurance — Number of Agencies, 2007—2011

Table 108: Life Insurance — Number of Agencies, 2011—2016

Table 109: Life Insurance — E-Commerce Commission Paid (AUD Billion), 2007—2011

Table 110: Life Insurance — E-Commerce Commission Paid (AUD Billion), 2011—2016

Table 111: Life Insurance — New Business Written Premium Through E-Commerce (AUD Billion), 2007—2011

Table 112: Life Insurance — New Business Written Premium Through E-Commerce (AUD Billion), 2011—2016

Table 113: Life Insurance — New Policies Sold Through E-Commerce (Thousand), 2007—2011

Table 114: Life Insurance — New Policies Sold Through E-Commerce (Thousand), 2011—2016

Table 115: Life Insurance — Number of E-Commerce Distributors, 2007—2011

Table 116: Life Insurance — Number of E-Commerce Distributors, 2011—2016

Table 117: Life Insurance — Commission Paid to Brokers (AUD Billion), 2007—2011

Table 118: Life Insurance — Commission Paid to Brokers (AUD Billion), 2011—2016

Table 119: Life Insurance — New Business Written Premium Through Brokers (AUD Billion), 2007—2011

Table 120: Life Insurance — New Business Written Premium Through Brokers (AUD Billion), 2011—2016

Table 121: Life Insurance — New Policies Sold Through Brokers (Thousand), 2007—2011

Table 122: Life Insurance — New Policies Sold Through Brokers (Thousand), 2011—2016

Table 123: Life Insurance — Number of Brokers, 2007—2011

Table 124: Life Insurance — Number of Brokers, 2011—2016

Table 125: Life Insurance — Commission Paid to Other Channels (AUD Billion), 2007—2011

Table 126: Life Insurance — Commission Paid to Other Channels (AUD Billion), 2011—2016

Table 127: Life Insurance — New Business Written Premium Through Other Channels (AUD Billion), 2007—2011

Table 128: Life Insurance — New Business Written Premium Through Other Channels (AUD Billion), 2011—2016

Table 129: Life Insurance — New Policies Sold Through Other Channels (Thousand), 2007—2011

Table 130: Life Insurance — New Policies Sold Through Other Channels (Thousand), 2011—2016

Table 131: Life Insurance — Number of Distributors in Other Channels, 2007—2011

Table 132: Life Insurance — Number of Distributors in Other Channels, 2011—2016

Table 133: Reinsurance Market in Australia by Category (AUD Billion), 2007—2011

Table 134: Reinsurance Market in Australia by Category (US$ Billion), 2007—2011

Table 135: Reinsurance Market in Australia by Category (AUD Billion), 2011—2016

Table 136: Reinsurance Market in Australia by Category (US$ Billion), 2011—2016

Table 137: Premium Ceded to Reinsurance by Type of Insurance (AUD Billion), 2007—2011

Table 138: Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2007—2011

Table 139: Premium Ceded to Reinsurance by Type of Insurance (AUD Billion), 2011—2016

Table 140: Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2011—2016

Table 141: Life Insurance — Percentage of Reinsurance Ceded (%), 2007—2011

Table 142: Life Insurance — Percentage of Reinsurance Ceded (%), 2011—2016

Table 143: Australian Life Insurance Written Premiums by Leading Companies (% Share), 2009—2011

Table 144: Cuna Mutual Life Australia Limited, Key Facts

Table 145: Cuna Mutual Life Australia Limited, Key Financials (AUD Million)

Table 146: AMP Life Limited, Key Facts

Table 147: AMP Life Limited, Key Financials (AUD Million)

Table 148: MLC Lifetime Company Limited, Key Facts

Table 149: MLC Lifetime Company Limited, Key Financials (AUD Million)

Table 150: TAL Life Limited, Key Facts

Table 151: TAL Life Limited, Key Financials (AUD Million)

Table 152: AIA Australia Limited, Key Facts

Table 153: AIA Australia Limited, Key Financials (AUD Million)

Table 154: Westpac Life Insurance Services Limited, Key Facts

Table 155: Westpac Life Insurance Services Limited, Key Financials (AUD Million)



List of Figures

Figure 1: Australian Insurance Overall Written Premium by Segment (AUD Billion), 2007—2016

Figure 2: Australian Insurance Market Dynamics by Segment, 2007—2016

Figure 3: Life Insurance Written Premium by Category (AUD Billion), 2007—2016

Figure 4: Life Insurance Written Premium by Category (% Share), 2011 and 2016

Figure 5: Life Insurance Market Dynamics by Category, 2007—2016

Figure 6: Life Insurance — Earned Premium (AUD Billion), 2007—2011

Figure 7: Life Insurance — Earned Premium (AUD Billion), 2011—2016

Figure 8: Life Insurance — Sum Assured (AUD Trillion), 2007—2011

Figure 9: Life Insurance — Sum Assured (AUD Trillion), 2011—2016

Figure 10: Life Insurance — Paid Claims (AUD Billion), 2007—2011

Figure 11: Life Insurance — Paid Claims (AUD Billion), 2011—2016

Figure 12: Life Insurance — Incurred Loss (AUD Billion), 2007—2011

Figure 13: Life Insurance — Incurred Loss (AUD Billion), 2011—2016

Figure 14: Life Insurance — Loss Ratio (%), 2007—2011

Figure 15: Life Insurance — Loss Ratio (%), 2011—2016

Figure 16: Life Insurance — Commissions and Expenses (AUD Billion), 2007—2011

Figure 17: Life Insurance — Commissions and Expenses (AUD Billion), 2011—2016

Figure 18: Life Insurance — Combined Ratio (%), 2007—2011

Figure 19: Life Insurance — Combined Ratio (%), 2011—2016

Figure 20: Life Insurance — Frauds and Crimes (AUD Billion), 2007—2011

Figure 21: Life Insurance — Frauds and Crimes (AUD Billion), 2011—2016

Figure 22: Life Insurance — Total Assets (AUD Billion), 2007—2011

Figure 23: Life Insurance — Total Assets (AUD Billion), 2011—2016

Figure 24: Life Insurance — Total Investment Income (AUD Billion), 2007—2011

Figure 25: Life Insurance — Total Investment Income (AUD Billion), 2011—2016

Figure 26: Life Insurance — Retentions (AUD Billion), 2007—2011

Figure 27: Life Insurance — Retentions (AUD Billion), 2011—2016

Figure 28: Life Insurance — Investment Portfolio (AUD Billion), 2007—2011

Figure 29: Life Insurance — Investment Portfolio (% Share), 2007 and 2011

Figure 30: Life Insurance Penetration (% of GDP), 2007—2011

Figure 31: Life Insurance Density (Number of Policies per Capita), 2007—2011

Figure 32: Life Insurance — Number of Active Policies (Thousand), 2007—2011

Figure 33: Life Insurance — Number of Active Policies (Thousand), 2011—2016

Figure 34: Life Insurance — Premium Per-Capita (AUD), 2007—2011

Figure 35: Individual Life Insurance Category — Number of Active Policies (Thousand), 2007—2011

Figure 36: Individual Life Insurance Category — Number of Active Policies (Thousand), 2011—2016

Figure 37: Individual Life Insurance Category — Written Premium (AUD Billion), 2007—2011

Figure 38: Individual Life Insurance Category — Written Premium (AUD Billion), 2011—2016

Figure 39: Individual General Annuity Category — Number of Active Policies (Thousand), 2007—2011

Figure 40: Individual General Annuity Category — Number of Active Policies (Thousand), 2011—2016

Figure 41: Individual General Annuity Category — Written Premium (AUD Billion), 2007—2011

Figure 42: Individual General Annuity Category — Written Premium (AUD Billion), 2011—2016

Figure 43: Individual Pension Category — Number of Active Policies (Thousand), 2007—2011

Figure 44: Individual Pension Category — Number of Active Policies (Thousand), 2011—2016

Figure 45: Individual Insurance Category — Written Premium (AUD Billion), 2007—2011

Figure 46: Individual Pension Category — Written Premium (AUD Billion), 2011—2016

Figure 47: Individual Unit-Linked Insurance Sub-Category — Number of Active Policies (Thousand), 2007—2011

Figure 48: Individual Unit-Linked Insurance Sub-Category — Number of Active Policies (Thousand), 2011—2016

Figure 49: Individual Unit-Linked Insurance Sub-Category — Written Premium (AUD Billion), 2007—2011

Figure 50: Individual Unit-Linked Insurance Category — Written Premium (AUD Billion), 2011—2016

Figure 51: Individual Term Life Insurance Category — Number of Active Policies (Thousand), 2007—2011

Figure 52: Individual Term Life Insurance Category — Number of Active Policies (Thousand), 2011—2016

Figure 53: Individual Term Life Insurance Category — Written Premium (AUD Billion), 2007—2011

Figure 54: Individual Term Life Insurance Category — Written Premium (AUD Billion), 2011—2016

Figure 55: Individual Others Category — Number of Active Policies (Thousand), 2007—2011

Figure 56: Individual Others Category — Number of Active Policies (Thousand), 2011—2016

Figure 57: Individual Others Category — Written Premium (AUD Billion), 2007—2011

Figure 58: Individual Others Category — Written Premium (AUD Billion), 2011—2016

Figure 59: Group Life Insurance Category — Number of Active Policies (Thousand), 2007—2011

Figure 60: Group Life Insurance Category — Number of Active Policies (Thousand), 2011—2016

Figure 61: Group Life Insurance Category — Written Premium (AUD Billion), 2007—2011

Figure 62: Group Life Insurance Category — Written Premium (AUD Billion), 2011—2016

Figure 63: Group Superannuation Category — Number of Active Policies (Thousand), 2007—2011

Figure 64: Group Superannuation Category — Number of Active Policies (Thousand), 2011—2016

Figure 65: Group Superannuation Category — Written Premium (AUD Billion), 2007—2011

Figure 66: Group Superannuation Category — Written Premium (AUD Billion), 2011—2016

Figure 67: Group Unit-Linked Insurance Sub-Category — Number of Active Policies (Thousand), 2007—2011

Figure 68: Group Unit-Linked Insurance Sub-Category — Number of Active Policies (Thousand), 2011—2016

Figure 69: Group Unit-Linked Insurance Sub-Category — Written Premium (AUD Billion), 2007—2011

Figure 70: Group Unit-Linked Insurance Sub-Category — Written Premium (AUD Billion), 2011—2016

Figure 71: Individual Single-Premium Policies — Number of Active Policies (Thousand), 2007—2011

Figure 72: Individual Single-Premium Policies — Number of Active Policies (Thousand), 2011—2016

Figure 73: Individual Single-Premium Policies — Written Premium (AUD Billion), 2007—2011

Figure 74: Individual Single-Premium Policies — Written Premium (AUD Billion), 2011—2016

Figure 75: Individual Non-Single-Premium Policies — Number of Active Policies (Thousand), 2007—2011

Figure 76: Individual Non-Single-Premium Policies — Number of Active Policies (Thousand), 2011—2016

Figure 77: Individual Non-Single-Premium Policies — Written Premium (AUD Billion), 2007—2011

Figure 78: Individual Non-Single-Premium Policies — Written Premium (AUD Billion), 2011—2016

Figure 79: Group Single-Premium Policies — Number of Active Policies (Thousand), 2007—2011

Figure 80: Group Single-Premium Policies — Number of Active Policies (Thousand), 2011—2016

Figure 81: Group Single-Premium Policies — Written Premium (AUD Billion), 2007—2011

Figure 82: Group Single-Premium Policies — Written Premium (AUD Billion), 2011—2016

Figure 83: Group Non-Single-Premium Policies — Number of Active Policies (Thousand), 2007—2011

Figure 84: Group Non-Single-Premium Policies — Number of Active Policies (Thousand), 2011—2016

Figure 85: Group Non-Single-Premium Policies — Written Premium (AUD Billion), 2007—2011

Figure 86: Group Non-Single-Premium Policies — Written Premium (AUD Billion), 2011—2016

Figure 87: Life Insurance Written Premium by Distribution Channel (% Share), 2011 and 2016

Figure 88: Life Insurance — Direct Marketing Commission Paid (AUD Billion), 2007—2011

Figure 89: Life Insurance — Direct Marketing Commission Paid (AUD Billion), 2011—2016

Figure 90: Life Insurance — New Business Written Premium Through Direct Marketing (AUD Billion), 2007—2011

Figure 91: Life Insurance — New Business Written Premium Through Direct Marketing (AUD Billion), 2011—2016

Figure 92: Life Insurance — New Policies Sold Through Direct Marketing (Thousand), 2007—2011

Figure 93: Life Insurance — New Policies Sold Through Direct Marketing (Thousand), 2011—2016

Figure 94: Life Insurance — Number of Direct Marketing Distributors, 2007—2011

Figure 95: Life Insurance — Number of Direct Marketing Distributors, 2011—2016

Figure 96: Life Insurance — Bancassurance Commission Paid (AUD Billion), 2007—2011

Figure 97: Life Insurance — Bancassurance Commission Paid (AUD Billion), 2011—2016

Figure 98: Life Insurance — New Business Written Premium Through Bancassurance (AUD Billion), 2007—2011

Figure 99: Life Insurance — New Business Written Premium Through Bancassurance (AUD Billion), 2011—2016

Figure 100: Life Insurance — New Policies Sold Through Bancassurance (Thousand), 2007—2011

Figure 101: Life Insurance — New Policies Sold Through Bancassurance (Thousand), 2011—2016

Figure 102: Life Insurance — Number of Bancassurance Distributors, 2007—2011

Figure 103: Life Insurance — Number of Bancassurance Distributors, 2011—2016

Figure 104: Life Insurance — Commission Paid to Agencies (AUD Billion), 2007—2011

Figure 105: Life Insurance — Commission Paid to Agencies (AUD Billion), 2011—2016

Figure 106: Life Insurance — New Business Written Premium Through Agencies (AUD Billion), 2007—2011

Figure 107: Life Insurance — New Business Written Premium Through Agencies (AUD Billion), 2011—2016

Figure 108: Life Insurance — New Policies Sold Through Agencies (Thousand), 2007—2011

Figure 109: Life Insurance — New Policies Sold Through Agencies (Thousand), 2011—2016

Figure 110: Life Insurance — Number of Agencies, 2007—2011

Figure 111: Life Insurance — Number of Agencies, 2011—2016

Figure 112: Life Insurance — E-Commerce Commission Paid (AUD Billion), 2007—2011

Figure 113: Life Insurance — E-Commerce Commission Paid (AUD Billion), 2011—2016

Figure 114: Life Insurance — New Business Written Premium Through E-Commerce (AUD Billion), 2007—2011

Figure 115: Life Insurance — New Business Written Premium Through E-Commerce (AUD Billion), 2011—2016

Figure 116: Life Insurance — New Policies Sold Through E-Commerce (Thousand), 2007—2011

Figure 117: Life Insurance — New Policies Sold Through E-Commerce (Thousand), 2011—2016

Figure 118: Life Insurance — Number of E-Commerce Distributors, 2007—2011

Figure 119: Life Insurance — Number of E-Commerce Distributors, 2011—2016

Figure 120: Life Insurance — Commission Paid to Brokers (AUD Billion), 2007—2011

Figure 121: Life Insurance — Commission Paid to Brokers (AUD Billion), 2011—2016

Figure 122: Life Insurance — New Business Written Premium Through Brokers (AUD Billion), 2007—2011

Figure 123: Life Insurance — New Business Written Premium Through Brokers (AUD Billion), 2011—2016

Figure 124: Life Insurance — New Policies Sold Through Brokers (Thousand), 2007—2011

Figure 125: Life Insurance — New Policies Sold Through Brokers (Thousand), 2011—2016

Figure 126: Life Insurance — Number of Brokers, 2007—2011

Figure 127: Life Insurance — Number of Brokers, 2011—2016

Figure 128: Life Insurance — Commission Paid to Other Channels (AUD Billion), 2007—2011

Figure 129: Life Insurance — Commission Paid to Other Channels (AUD Billion), 2011—2016

Figure 130: Life Insurance — New Business Written Premium Through Other Channels (AUD Billion), 2007—2011

Figure 131: Life Insurance — New Business Written Premium Through Other Channels (AUD Billion), 2011—2016

Figure 132: Life Insurance — New Policies Sold Through Other Channels (Thousand), 2007—2011

Figure 133: Life Insurance — New Policies Sold Through Other Channels (Thousand), 2011—2016

Figure 134: Life Insurance — Number of Distributors in Other Channels, 2007—2011

Figure 135: Life Insurance — Number of Distributors in Other Channels, 2011—2016

Figure 136: Australia Life Insurance: Porter’s Five Forces Analysis

Figure 137: Premium Ceded to Reinsurance by Category (AUD Billion), 2007—2016

Figure 138: Premium Ceded to Reinsurance by Category (% Share), 2011 and 2016

Figure 139: Reinsurance Segment Dynamics by Category, 2007—2016

Figure 140: Premium Ceded to Reinsurance by Type of Insurance (AUD Billion), 2007—2016

Figure 141: Reinsurance Market Dynamics by Type of Insurance, 2007—2016

Figure 142: Life Insurance — Percentage of Reinsurance Ceded (%), 2007—2011

Figure 143: Life Insurance — Percentage of Reinsurance Ceded (%), 2011—2016

Figure 144: Australian Life Insurance Written Premiums by Leading Companies (% Share), 2009—2011

Figure 145: Life Insurance Gross Written Premium of Five Leading Australian Life Insurers (AUD Billion), 2011

Figure 146: Life Insurance Net Earned Premium of Five Leading Australian Life Insurers (AUD Billion), 2011

Figure 147: Life Insurance Paid Claims of Five Leading Australian Life Insurers (AUD Billion), 2011

Figure 148: Life Insurance Total Assets of Five Leading Australian Life Insurers (AUD Billion), 2011

Figure 149: Life Insurance Total Investment Income of Five Leading Australian Life Insurers (AUD Billion), 2011

Figure 150: Australian Business Confidence Indicator, Q12008—Q42011

Figure 151: The Australian Securities Exchange Market Capitalization (US$ Billion), 2007—2011

Figure 152: Australian GDP at Constant Prices (US$ Billion), 2007—2011

Figure 153: Australian GDP Per Capita at Constant Prices (US$), 2007—2011

Figure 154: Australian GDP at Current Prices (US$ Billion), 2007—2011

Figure 155: Australian GDP Per Capita at Current Prices (US$), 2007—2011

Figure 156: Australian GDP by Key Segments (%) 2009 and 2011

Figure 157: Australian Agricultural Net Output at Current Prices (AUD Billion), 2007—2011

Figure 158: Australian Agricultural Net Output at Current Prices (US$ Billion), 2007—2011

Figure 159: Australian Agricultural Net Output at Current Prices as a Percentage of GDP (%), 2007—2011

Figure 160: Australian Manufacturing Net Output at Current Prices (AUD Billion), 2007—2011

Figure 161: Australian Manufacturing Net Output at Current Prices (US$ Billion), 2007—2011

Figure 162: Australian Manufacturing Net Output at Current Prices as a Percentage of GDP (%), 2007—2011

Figure 163: Australian Mining, Manufacturing and Utilities Net Output at Current Prices (AUD Billion), 2007—2011

Figure 164: Australian Mining, Manufacturing and Utilities Net Output at Current Prices (US$ Billion), 2007—2011

Figure 165: Australian Mining, Manufacturing and Utilities Net Output at Current Prices as a percentage of GDP (%), 2007—2011

Figure 166: Australian Construction Net Output at Current Prices (AUD Billion), 2007—2011

Figure 167: Australian Construction Net Output at Current Prices (US$ Billion), 2007— 2011

Figure 168: Australian Construction Output at Current Prices as a Percentage of GDP (%), 2007—2011

Figure 169: Australian Inflation Rate (%), 2007—2011

Figure 170: Australian Current Account Balance as a Percentage of GDP(%), 2007—2011

Figure 171: Australian Exports as a Percentage of GDP (%), 2007—201

• Life Insurance Premiums and Claims in Albania to 2017: Market Snapshot
• Life Insurance Premiums and Claims in Algeria to 2017: Market Snapshot
• Life Insurance Premiums and Claims in Azerbaijan to 2017: Market Snapshot
• Life Insurance Premiums and Claims in Bangladesh to 2017: Market Snapshot
• Life Insurance Premiums and Claims in Benin to 2017: Market Snapshot
• Life Insurance Premiums and Claims in Botswana to 2017: Market Snapshot
• Life Insurance Premiums and Claims in Brunei Darussalam to 2017: Market Snapshot
• Life Insurance Premiums and Claims in Burkina Faso to 2017: Market Snapshot
• Life Insurance Premiums and Claims in Burundi to 2017: Market Snapshot
• Life Insurance Premiums and Claims in Croatia to 2017: Market Snapshot
• Life Insurance Premiums and Claims in Cyprus to 2017: Market Snapshot
• Life Insurance Premiums and Claims in Dominican Republic to 2016: Market Snapshot
• Life Insurance Premiums and Claims in Estonia to 2017: Market Snapshot
• Life Insurance Premiums and Claims in Guatemala to 2016: Market Snapshot
• Life Insurance Premiums and Claims in Guyana to 2017: Market Snapshot
• Life Insurance Premiums and Claims in Honduras to 2017: Market Snapshot
• Life Insurance Premiums and Claims in Ireland to 2017: Market Snapshot
• Life Insurance Premiums and Claims in Jamaica to 2016: Market Snapshot
• Life Insurance Premiums and Claims in Laos to 2017: Market Snapshot
• Life Insurance Premiums and Claims in Latvia to 2017: Market Snapshot