New Insurance research report from Timetric is now available from Fast Market Research

Boston, MA -- (SBWire) -- 08/09/2013 --During the review period (2008-2012), the Australian life insurance segment accounted for 48.1% of the industry's total written premium value in 2012. The segment is also considered to be one of the most competitive of its kind in the Asia-Pacific region due to its stringent regulatory environment. The segment registered a positive annual growth rate during the financial crisis of 2008-2009. Over the forecast period (2012-2017), Australia's life insurance growth will be driven by a number of factors, including government initiatives to promote life insurance, an aging population and the relatively low penetration of life insurance products in relation to other developed nations. As such, the segment's written premium value is projected to increase at a forecast-period CAGR of 1.5%.

Key Highlights

- The Australian life insurance segment declined at a review-period CAGR of -0.6%
- The written premium of the life insurance segment is expected to increase at a projected CAGR of 1.5% over the forecast period
- Bancassurance is considered as the most popular and trusted life insurance distribution channel in Australia
- APRA is the regulatory body for insurance and is authorized to issue and retract the licenses of stakeholders such as insurance companies, agents and brokers
- The Australian life insurance segment is highly competitive and contains both domestic and foreign insurers

View Full Report Details and Table of Contents

Scope

This report provides a comprehensive analysis of the life insurance market in Australia:

- It provides historical values for Australia's life insurance market 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 Australia's life insurance market, 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 Australia
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Australia for the 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 Get This Report

- Make strategic business decisions using 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

Companies Mentioned in this Report: The Colonial Mutual Life Assurance Society Limited, AMP Life Limited, OnePath Life Limited, MLC Lifetime Company Limited, National Mutual Life Association of Australasia Ltd, AIA Australia Limited, Westpac Life Insurance Services Limited, Swiss Re Life and Health Company, RGA Reinsurance Company of Australia Limited, TAL Life Limited

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