Life Insurance in Australia - Market Research Report

Life Insurance industry trends (2014-2019)

poll Average industry growth 2014–2019: 10.7%

The Life Insurance industry has recorded significant revenue volatility over the past five years. Industry revenue declined over the period due to higher cancellation and lapse rates, and fluctuations in investment returns. Premium income has risen for most of the past five-year period, with the 2013 introduction of the MySuper laws helping to increase life insurance uptake through superannuation. Industry revenue is expected to decline at an annualised 5.1% over the five years through 2019-20, to $63.0 billion. However, strong investment returns are expected to support a 3.6% revenue rise in 2019-20. Industry operators provide protection against the financial hardships that arise from death, disability, major illness or injury. Loss of income is a...
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Life Insurance industry outlook (2019-2024)

poll Average industry growth 2019-2024: x.xlockPurchase this report or a membership to unlock the average company profit margin for this industry.

The Life Insurance industry is anticipated to recover over the next five years. Industry revenue is forecast to grow at an annualised X.X% over the five years through XXX-XX, to total $XX.X billion. While the introduction of the Treasury Laws Amendment (Protecting Your Superannuation Package) Act XXX is projected to affect industry performance earlier in the next five-year period, industry revenue performance remains unpredictable, as investment revenue is largely tied to financial market performance. However, investment returns are projected to rise over the next five years, as bond rates are boosted and the All Ordinaries index continues to grow. Overall, industry profitability is forecast to remain relatively stable over the period. Distribution...
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Life Insurance industry statistics

  • attach_money Market Size: $61bn
  • business Number of Businesses: 202
  • poll Average Industry Profit Margin: x.x%
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  • supervisor_account Industry Employment: 6,408

Biggest companies in the Life Insurance industry

The companies holding the largest market share in the Life Insurance in Australia industry include TAL Dai-ichi Life Australia Pty Limited, AMP Limited, AIA Australia Limited, MLC Limited, Commonwealth Bank of Australia and Zurich Financial Services Australia Limited.

  • pie_chart TAL Dai-ichi Life Australia Pty Limited Market Share: x.x%
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  • pie_chart AMP Limited Market Share: x.x%
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  • pie_chart AIA Australia Limited Market Share: x.x%
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  • pie_chart MLC Limited Market Share: x.x%
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  • pie_chart Commonwealth Bank of Australia Market Share: x.x%
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  • pie_chart Zurich Financial Services Australia Limited Market Share: x.x%
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What is Life Insurance industry?

Industry Definition

Industry retailers sell footwear online. Participants are either online-only retailers or bricks-and-mortar stores with an online presence. The industry includes online shoe sales generated by clothing retailers that also sell footwear.

Industry Products and Services

  • Women's shoes
  • Men's shoes
  • Children's shoes
  • Performance shoes
  • All Others

Industry Activities

  • Online sports footwear retailing
  • Online dress footwear retailing
  • Online casual footwear retailing
  • Online purpose-built footwear retailing

Market research report - table of contents

Industry Definition

Industry operators provide life insurance cover and investment-linked life insurance products. Life insurance is a contract obligating the insurer to pay designated beneficiaries a sum of money in the event of the insured individual’s death, disablement, serious illness or injury. As with all insurance contracts, exclusions may exist that limit the insurer’s liability.

Main Activities

  • Providing term life insurance
  • Providing permanent life insurance
  • Providing annuities
  • Providing other life-based savings and investment schemes

Similar Industries

Additional Resources

Industry Statistics Snapshot

Industry Structure

Executive Summary

Key External Drivers

A significant portion of industry assets is invested in equities. As a result, the performance of the All Ordinaries index significantly influences the in...
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All Ordinaries index
Real household discretionary income
10-year bond rate
Residential property yields

Current Performance

Investment returns
Opportunities
Royal Commission into Misconduct in the Banking, Superannuation

and Financial

Services Industry
Acquisition activities
 Chart: Revenue Growth

Industry Outlook

Rising awareness
Growth opportunities
 Table: Life Insurance in Australia - Market Research Report Industry Revenue Outlook

Industry Life Cycle

Life Cycle Reasons
 Chart: Benchmarking - Life Insurance in Australia - Market Research Report Industry Lifecycle vs The Economy

Supply Chain

Key Buying Industries

Superannuation Funds in Australia
Consumers in Australia





Key Selling Industries

Funds Management Services in Australia
Superannuation Funds Management Services in Australia
Insurance Brokerage in Australia




Products & Services

The Life Insurance industry's product segmentation is based on net policy revenue, as this more accurately represents the products purchased by consumers ...
Retail clients





Demand Determinants

As the Life Insurance industry is heavily regulated, demand for life insurance products is affected by changes in regulation and policy. A range of econom...
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Major Markets

Retail clients






 Chart: Major Market Segmentation for the Life Insurance in Australia - Market Research Report Industry

International Trade

Business Locations

Chart: Business Locations by State Chart: Business Locations by State

Market Share Concentration

The Life Insurance industry is characterised by a moderate level of market share concentration. The four largest players are estimated to account for over...
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Key Success Factors

Cost Structure Benchmarks

Profit, Purchases, Wages, Other Costs
 Chart: Cost Structure Benchmarking – Sector vs Life Insurance in Australia - Market Research Report

Basis of Competition

Internal competition
External competition

Barriers to Entry

 Table: Barriers to Entry Checklist for the Life Insurance in Australia - Market Research Report Industry

Industry Globalization

TAL Dai-ichi Life Australia Pty Limited (TAL) is a wholly-owned subsidiary of the Dai-Ichi Life Group. TAL was formed in 2011 when Dai-ichi Life Insurance...
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TAL Dai-ichi Life Australia

 Table: TAL Dai-ichi Life Australia - financial performance

AMP

 Table: AMP - financial performance

AIA Australia

 Table: AIA Australia - financial performance

MLC

 Table: MLC - financial performance

Commonwealth Bank

 Table: Commonwealth Bank - financial performance

Zurich Financial Services

 Table: Zurich Financial Services - financial performance

Capital Intensity

The Life Insurance industry is characterised by a moderate level of capital intensity. For every dollar paid as wages, an estimated $0.14 is spent on capi...
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 Chart: Level of Capital Intensity for the Life Insurance in Australia - Market Research Report Industry
 Chart: Tools of the Trade: Growth Strategies for Success

Technology & Systems

Revenue Volatility

Chart: Volatility vs Industry Growth Chart: Volatility vs Industry Growth

Regulation & Policy

Industry Assistance

Table: Industry data Table: Industry Data for the Life Insurance in Australia Industry

Industry Revenue (2008-2026)
Industry Gross Product (2008-2026)
Establishments (2008-2026)
Businesses (2008-2026)
Employment (2008-2026)
Exports (2008-2026)
Imports (2008-2026)
Wages (2008-2026)
Domestic Demand (2008-2026)

Table: Annual Percentage Change for Key Industry Data Table: Annual Percentage Change for Key Industry Data

Table: Key Ratios for Industry Key Dat Table: Key Ratios for Industry Key Data

Table: Industry Financial Ratios Table: Industry Financial Ratios

Liquidity Ratios
Coverage Ratios
Leverage Ratios
Operating Ratios
Cash Flow & Debt Service Ratios (% of Sales)
Assets, %
Liabilities, %

APRA

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Included in Report

  • Industry Financial Ratios
    Industry Financial Ratios
  • Revenue Forecasts
    Revenue Forecasts
  • Historical and Forecast Growth
    Historical and Forecast Growth
  • Industry Market Size
    Industry Market Size
  • Industry Major Players
    Industry Major Players
  • Profitability Analysis
    Profitability Analysis
  • SWOT Analysis
    SWOT Analysis
  • Industry Trends
    Industry Trends
  • Industry Operating Conditions
    Industry Operating Conditions
  • Porter's 5 Forces Analysis
    Porter's 5 Forces Analysis

Why buy this report on the Life Insurance industry?

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This report on Life Insurance in Australia:

  • Provides Market Size information to assist with planning and strategic decisions.
  • Includes the necessary information to perform SWOT, PEST and STEER analysis.
  • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
  • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.

The Life Insurance in Australia market research report includes:

  • Historical data and analysis for the key drivers of this industry
  • A five-year forecast of the market and noted trends
  • Detailed research and segmentation for the main products and markets
  • An assessment of the competitive landscape and market shares for major companies
  • And of course, much more

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