2018 Life Insurance in Australia, Key Trends and Opportunities Research Report

Life Insurance in Australia, Key Trends and Opportunities to 2018 Synopsis The report provides in-depth market analysis, information and insights into the Australian life insurance segment, including: The Australian life insurance segment’s growth prospects by category Key trends and drivers for the life insurance segment The various distribution channels in the Australian life insurance segment The detailed competitive landscape on the life insurance segment in Australia Detailed regulatory policies applicable to the Australian insurance industry Executive summary Life insurance is the largest segment of the Australian insurance industry, and accounted for 45.5% of the industry’s gross written premium in 2013. The life segment’s gross written premium decreased at a compound annual growth rate (CAGR) of -0.4% during the review period (2009–2013), due to an increase in claims following a rise in death rates and rising rates of policy lapses as consumers reduced insurance cover. Life insurance claims increased at a CAGR of 2.1%. The life segment is expected to grow over the forecast period due to factors such as an ageing population, low penetration compared to other developed countries and underinsurance. The gross written premium is expected to post a CAGR of 3.0% over the forecast period (2013–2018). Scope This report provides a comprehensive analysis of the life insurance segment in Australia: It provides historical values for the Australian life insurance segment for the report’s 2009–2013 review period and projected figures for the 2013–2018 forecast period. It offers a detailed analysis of the key categories in the Australian life insurance segment, along with 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...