General Insurance in New Zealand - Market Research Report

General Insurance industry trends (2014-2019)

poll Average industry growth 2014–2019: 2.4%

The General Insurance industry protects individuals, households and businesses from financial loss associated with events such as natural disasters, car accidents, theft and malpractice. The industry collects regular payments (known as premiums) from policyholders, part of which are used to pay for claims against losses from the aforementioned events. The industry has performed solidly over the past five years, supported by rising demand for domestic and commercial insurance products. Overall, industry revenue is expected to rise at an annualised 2.3% over the five years through 2018-19, to total $5.7 billion. Industry revenue has grown for most years of the past five-year period. However, revenue has grown at a slower rate compared with the prior f...
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General 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 General Insurance industry is anticipated to grow at a slightly faster rate over the next five years, supported by a projected rise in demand for general insurance products. Domestic insurance products are forecast to remain the industry's primary source of revenue, with home insurance premiums increasing in line with the severity of damage caused by natural disasters. Demand for commercial insurance products is also likely to rise as the increasing digitisation of the economy changes the operating and trading environment for businesses. Overall, industry revenue is forecast to rise at an annualised X.X% over the five years through XXX-XX, to reach $X.X billion. Given the difficulty in predicting catastrophic seismic activity and extreme weather...
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General Insurance industry statistics

  • attach_money Market Size: $6bn
  • business Number of Businesses: 894
  • poll Average Industry Profit Margin: x.x%
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  • supervisor_account Industry Employment: 6,138

Biggest companies in the General Insurance industry

The companies holding the largest market share in the General Insurance in New Zealand industry include IAG (NZ) Holdings Limited, Suncorp Group Holdings (NZ) Limited and QBE Insurance (Australia) Limited.

  • pie_chart IAG (NZ) Holdings Limited Market Share: x.x%
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  • pie_chart Suncorp Group Holdings (NZ) Limited Market Share: x.x%
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  • pie_chart QBE Insurance (Australia) Limited Market Share: x.x%
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What is General Insurance industry?

Industry Definition

General insurers underwrite insurance policies to protect individuals and businesses from financial loss associated with property damage, motor vehicle damage, liability and other risks. Underwriting involves assuming risks and assigning premiums. Reinsurers assume all or part of the risk associated with existing insurance policies underwritten by other insurers.

Industry Products and Services

  • Domestic insurance
  • Motor vehicle insurance
  • Commercial insurance
  • Liability insurance
  • Marine insurance
  • Other insurance

Industry Activities

  • Home insurance provision
  • Motor vehicle insurance provision
  • Professional indemnity insurance provision
  • Employers' liability insurance provision
  • Mortgage and consumer credit insurance provision
  • Fire insurance provision
  • Travel insurance provision

Market research report - table of contents

Industry Definition

General insurers underwrite insurance policies to protect individuals and businesses from financial loss associated with property damage, motor vehicle damage, liability and other risks. Underwriting involves assuming risks and assigning premiums. Reinsurers assume all or part of the risk associated with existing insurance policies underwritten by other insurers.

Main Activities

  • Home insurance provision
  • Motor vehicle insurance provision
  • Professional indemnity insurance provision
  • Employers' liability insurance provision
  • Mortgage and consumer credit insurance provision
  • Fire insurance provision
  • Travel insurance provision

Similar Industries

Additional Resources

Industry Statistics Snapshot

Industry Structure

Executive Summary

Key External Drivers

Generalinsurers provide business and household coverage for natural disasters. NewZealand is a volcanic island nation and is prone to natural disasters su...
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Cost of natural disasters
Number of households
Number of motor vehicles
Cash rate

Current Performance

Earthquake damage
Industry structure
 Chart: Revenue Growth

Industry Outlook

Industry competition
 Table: General Insurance in New Zealand - Market Research Report Industry Revenue Outlook

Industry Life Cycle

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

Supply Chain

Key Buying Industries

Mining
General Practice Medical Services in New Zealand
Banking in New Zealand
Agribusiness in New Zealand
Consumers in New Zealand


Key Selling Industries

Insurance Brokerage in New Zealand






Products & Services

Industry product segments are split according to gross premiums written by general insurers. While private insurers sell the bulk of general insurance pro...
Commercial clients
Insurers




Demand Determinants

Several factors influence demand for general insurance products due to the range of industry products offered. These factors include overall economic acti...
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Major Markets

Commercial clients
Insurers





 Chart: Major Market Segmentation for the General Insurance in New Zealand - Market Research Report Industry

International Trade

Business Locations

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

Market Share Concentration

The General Insurance industry's market share concentration is high. The top four general insurers in New Zealand are expected to account for over 80% of ...
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Key Success Factors

Cost Structure Benchmarks

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

Basis of Competition

Internal competition
External competition

Barriers to Entry

 Table: Barriers to Entry Checklist for the General Insurance in New Zealand - Market Research Report Industry

Industry Globalization

IAG (NZ) Holdings Limited is the largest provider of general insurance products in New Zealand across both direct and intermediate channels. The company p...
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IAG (NZ) Holdings

 Table: IAG (NZ) Holdings - financial performance

Suncorp Group Holdings (NZ)

 Table: Suncorp Group Holdings (NZ) - financial performance

QBE New Zealand Branch

 Table: QBE New Zealand Branch - financial performance

Capital Intensity

The General Insurance industry has low capital intensity. For every dollar paid as wages, an estimated $0.09 is spent on capital investment. The industry ...
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 Chart: Level of Capital Intensity for the General Insurance in New Zealand - 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 General Insurance in New Zealand Industry

Industry Revenue (2007-2025)
Industry Gross Product (2007-2025)
Establishments (2007-2025)
Businesses (2007-2025)
Employment (2007-2025)
Exports (2007-2025)
Imports (2007-2025)
Wages (2007-2025)
Domestic Demand (2007-2025)

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, %

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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 General Insurance industry?

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This report on General Insurance in New Zealand:

  • 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 General Insurance in New Zealand 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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