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Car Insurance in Australia: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Car Insurance Market Research Report | Advisory & Financial Services | Specialist Insurance Lines | Nov 2015

Peak hour: Ongoing growth in the number of motor vehicles supports premium growth

IBISWorld’s Car Insurance market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
Allianz Australia Allianz Australia market share
IAG IAG market share
QBE Insurance Group QBE Insurance Group market share
Suncorp Group Suncorp Group market share
Industry Statistics & Market Size
Annual Growth 11-16
Annual Growth 16-21
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Industry Analysis & Industry Trends

The past five years have been characterised by declining investment returns and the rising number of natural disasters. As the frequency of natural disasters has risen, so has the frequency of insurance claims. Although insurers have been able to pass on the rising costs to policy holders, the time lag between the new premium prices and payouts has put pressure on profit margins. Despite these trends, industry profitability has risen, largely due to the low profit base following the Queensland floods in 2010-2011. Over the five years through 2015-16, industry revenue is forecast to grow at an annualised 2.5%... purchase to read more

Industry Report - Industry Products Chapter

The Car Insurance industry can be broken down based on various parameters such as type of cover or ownership of vehicles. There are three main types of products offered by the industry based on vehicle ownership: domestic motor vehicle insurance, commercial vehicle insurance and compulsory third-party motor vehicle insurance. Segments have been split based on the gross earned premium generated by each product.

Compulsory third-party motor vehicle insurance

Compulsory third-party (CTP) insurance is a mandatory insurance policy that is required of every motor vehicle in Australia. Governments provide the insurance in most states except for New South Wales, Queensland and the Australian Capital Territory... purchase to read more


Industry ProductsRelated ReportsTable of Contents

What is the Car Insurance Industry?

This industry underwrites (i.e. assuming the risk and assigning premiums) car insurance policies. Car insurance provides financial protection against physical damage to automobiles and bodily injuries resulting from traffic collisions. Car insurance can also protect against resulting liability.

Industry Products
Commercial motor vehicle insurancePrivate motor vehicle insuranceCompulsory third-party motor vehicle insurance
Industry Activities
Underwriting compulsory third party motor vehicle insuranceUnderwriting private motor vehicle insuranceUnderwriting commercial motor vehicle insurance

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