Naperville, IL -- (SBWIRE) -- 07/24/2014 -- Reportstack, provider of premium market research reports announces the addition of Life Insurance in New Zealand, Key Trends and Opportunities to 2018 market report to its offering The New Zealand life insurance segment grew during the review period, albeit at a moderate pace, at a review-period CAGR of 5.1%. This can be attributed to losses recorded due to a series of earthquakes caused in 2011. The life segment is expected to remain stable and register a CAGR of 6.6%, in gross written premium terms over the forecast period, supported by a recovery in economic conditions. High levels of underinsurance, coupled with an aging population are all expected to create demand for life insurance products over the forecast period. New Zealand's life insurance penetration stood at 0.7% of GDP in 2013, below the OECD average of 5%. The country has the fourth-lowest penetration rate of all 34 OECD countries with only Estonia, Turkey and Iceland having lower.
This report provides a comprehensive analysis of the life insurance segment in New Zealand:
It provides historical values for the New Zealand life insurance segment for the reports 20092013 review period and forecast figures for the 20132018 forecast period.
It offers a detailed analysis of the key categories in the New Zealand life insurance segment, along with market forecasts until 2018.
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
The New Zealand life segments gross written premium grew at a review-period CAGR of 5.1%.
The number of insurance policies sold in the segment increased from 2.6 million in 2009 to 3.0 million in 2013, at a CAGR of 3.9% during the review period.
High levels of underinsurance, coupled with an aging population are all expected to create demand for life insurance products over the forecast period.
Agencies were the leading distribution channel for life insurance products during the review period, with a 36.5% share of the gross written generated by premium new business.
The life insurance segment is highly concentrated, and the five leading companies accounted for 73.8% of the segments gross written premiums in 2013.
Sovereign Assurance Company Ltd
AMP Financial Services Ltd
Fidelity Life Assurance Company Ltd
Asteron Life Ltd
OnePath (NZ) Ltd
Westpac New Zealand Ltd
AIA New Zealand
Cigna Life Insurance New Zealand Ltd
Partners Life Ltd
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