Boston, MA -- (SBWIRE) -- 12/05/2013 -- The personal accident and health segment of the New Zealand insurance industry recorded a healthy compound annual growth rate (CAGR) of 8.6% during the 2008-2012 review period. The segment's gross written premium registered a CAGR of 8.6%, increasing from around NZD3.2 billion (US$2.3 billion) in 2008 to NZD4.5 billion (US$3.7 billion) in 2012. Personal accident and health insurance accounted for the second-largest proportion of total gross written premiums in the overall insurance industry in 2012, with a 36.0% share. According to the Central Intelligence Agency (CIA), health expenditure in New Zealand in 2010 stood at 10.1% of GDP.

Key Highlights

- The personal accident and health segment of the New Zealand insurance industry recorded a healthy compound annual growth rate (CAGR) of 8.6% during the 2008-2012 review period
- Unsustainable levels of public spending on healthcare to open doors for private insurers
- Brokers was the leading distribution channel in 2012, accounting for 76% of the total new written premium business
- 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
- Companies operating in the life and non-life segments provide health insurance as part of their services

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Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in New Zealand :

- It provides historical values for New Zealand 's personal accident and health insurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key sub-segments in New Zealand 's personal accident and health 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 personal accident and health insurance products in New Zealand
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in New Zealand for the personal accident and health insurance segment
- It provides a detailed analysis of the reinsurance segment in New Zealand and its growth prospects
- It profiles the top personal accident and health insurance companies in New Zealand and outlines the key regulations affecting them

Reasons to Get This Report

- Make strategic business decisions using in depth historic and forecast market data related to the New Zealand personal accident and health insurance segment and each category within it

Companies Mentioned in this Report: Sovereign Assurance Company Ltd, Asteron Life Ltd, AIA New Zealand, Lumley General Insurance (NZ) Ltd, Tower (NZ) Ltd

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