New Zealand Insurance Report Q3 2016

Date: April 20, 2016
Pages: 49
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)

Download PDF Leaflet

Includes 3 FREE quarterly updates

BMI View: We retain our view that the New Zealand insurance market is comparatively small by global standards and a subdued domestic economic outlook weighs in on premium growth prospects, in both the life and non-life sector through our forecast period out to 2020. The strengthening of the American dollar against the New Zealand dollar will also constrain dollar denominated premiums in both 2016 and 2017. We estimate that over the longer term, demand for key non-life lines, such as property and motor, will continue to remain high. However, we believe that demand for life productions, the smaller market at present, is expected to grow quicker, as awareness of the benefits of life products in conjunction with rising household incomes bolsters product offerings.

Key Updates And Forecasts
  • The weakening of the New Zealand dollar continues to be a drag on the growth prospects of the insurance industry in terms of dollar denominated growth for both sectors and our new forecasts envision dollar contractions in both 2016 and 2017.
  • New Zealand's life insurance market is underdeveloped but does offer growth potential. At present, we expect life premiums to grow broadly in line with GDP, increasing from around NZD2.4bn in 2015 to over NZD3.0bn in 2020, while over the longer term demographic trends, including an ageing population and increasing household disposable income, will lead to increased demand.
BMI Industry View
  Table: Headline Insurance Forecasts (New Zealand 2013-2020)
Industry Forecast
Life Premiums Forecast
  Table: Life Premiums (New Zealand 2013-2020)
  Table: Life Insurance Claims (New Zealand 2008-2014)
Non-Life Premiums Forecast
  Table: Non-Life Premiums (New Zealand 2013-2020)
  Table: Non-Life Insurance Claims (New Zealand 2009-2014)
Non-Life Sub-Sector Forecast
  Table: Non-Life Insurance Premiums by Product Line (New Zealand 2013-2020)
Industry Risk Reward Ratings
Asia Pacific Industry Risk/Reward Index
  Table: Asia Pacific Insurance Risk/Reward Index Q316
Market Overview
Life Market Overview
The Product Offering
The Competitive Landscape
Non-Life Market Overview
The Product Offering
The Competitive Landscape
Company Profile
AMP Limited
Insurance Australia Group
Suncorp Group
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Indicators
  Table: Weighting of Indicators
Skip to top

New Zealand Insurance Report Q1 2016 US$ 1,295.00 Oct, 2015 · 49 pages
New Zealand Insurance Report Q2 2016 US$ 1,295.00 Jan, 2016 · 50 pages
New Zealand Insurance Report Q4 2016 US$ 1,295.00 Aug, 2016 · 49 pages
Insurance in New Zealand US$ 350.00 Jan, 2016 · 34 pages

Ask Your Question

New Zealand Insurance Report Q3 2016
Company name*:
Contact person*:
Request invoice
Your enquiry:
Please click on a Check Box below to confirm you are not a robot: