Naperville, IL -- (SBWIRE) -- 11/06/2013 -- Reportstack, provider of premium market research reports announces the addition of Life Insurance in New Zealand , Key Trends and Opportunities to 2017 market report to its offering
The life insurance segment in New Zealand continued to grow at a moderate pace during the review period (20082012), with the gross written premium rising from NZD1.3 billion (US$902 million) in 2008 to NZD1.6 billion (US$1.3 billion) in 2012, at a CAGR of 6.1%. Low life insurance penetration among New Zealanders can be attributed to the Christchurch earthquake in 2011 where, according to an Investment Savings and Insurance Association of New Zealand Inc. (ISI) report, only 63 death claims were paid out by March 31, 2011, despite a total of 182 people having lost their lives. A key reason for this underinsurance is an excessive dependency on government welfare schemes, and a general lack of awareness of the immediate benefits of insurance products compared to other investments.
Scope
This report provides a comprehensive analysis of the life insurance segment in New Zealand :
It provides historical values for New Zealand 's life insurance segment for the reports 20082012 review period and forecast figures for the 20122017 forecast period
It offers a detailed analysis of the key sub-segments in New Zealand 's life insurance segment, along with market forecasts until 2017
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 life insurance products in New Zealand
Using Porters industry-standard Five Forces analysis, it details the competitive landscape in New Zealand for the life insurance business
It provides a detailed analysis of the reinsurance segment in New Zealand and its growth prospects
It profiles the top life insurance companies in New Zealand 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 New Zealand life insurance segment and each category within it
Understand the demand-side dynamics, key market trends and growth opportunities within the New Zealand life insurance segment
Assess the competitive dynamics in the life insurance segment, along with the reinsurance segment
Identify the growth opportunities and market dynamics within key product categories
Gain insights into key regulations governing the New Zealand insurance industry and its impact on companies and the market's future
Key Highlights
The life insurance segment in New Zealand grew at a CAGR of 6.1% during the review period (20082012)
Bancassurance was the leading distribution channel for life insurance products during the review period, with a 43.2% share of the total life insurance commission in 2012
Although the life insurance industry in New Zealand is not as strict as in Australia, local regulation is improving under the Reserve Bank of New Zealand with the introduction of the IPSA in 2010
The penetration level for life insurance products in New Zealand, as measured by gross written premiums as a percentage of GDP, averaged 0.72% during the review period, indicating that New Zealanders are underinsured
The insurance industry in New Zealand is supervised and regulated by the Reserve Bank of New Zealand (RBNZ) in accordance with the rules and regulations stipulated in the Insurance (Prudential Supervision) Act 2010
New Zealands life segment is highly competitive, with the presence of both domestic and foreign insurers
Companies Mentioned
Sovereign Assurance
Asteron Life
Fidelity Life Assurance
Tower NZ
To view the table of contents for this market research report please visit
http://www.reportstack.com/product/145446/life-insurance-in-new-zealand-key-trends-and-opportunities-to-2017.html
Contact:
Roger Campbell
contactus@reportstack.com
Naperville
Illinois
United States
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