Insurance Brokerage in New Zealand - Market Research Report

Insurance Brokerage industry trends (2014-2019)

poll Average industry growth 2014–2019: 1.8%

Revenue for the Insurance Brokerage industry has grown over the past five years. Demand from general insurance has supported industry revenue growth over the period but slower demand from life insurance has limited this growth. Despite being a smaller product segment compared with general insurance, life insurance policies significantly affect industry revenue due to the large up-front and trail commissions generated by insurance brokers. Industry revenue is expected to increase at an annualised 3.4% over the five years through 2019-20, to $2.6 billion. This includes an anticipated increase of 0.4% in the current year. The industry's landscape has changed significantly over the past five years, following the entry and acquisition activity of Steadfa...
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Insurance Brokerage 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.

Revenue for the Insurance Brokerage industry is projected to continue growing over the next five years, albeit at a slower pace than over the past five years. A steady rise in demand from general insurance is anticipated to support revenue growth, as are increases in household, business and motor vehicle numbers. However, a slowdown in demand from life insurance is anticipated to constrain industry revenue growth, as the proposed reforms and the code of conduct following the review of the Financial Advisers Act XXX and the Financial Service Providers Act XXX take effect. Industry revenue is forecast to increase at an annualised X.X% over the five years through XXX-XX, to $X.X billion. Profitability Industry profitability is projected to fall over t...
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Insurance Brokerage industry statistics

  • attach_money Market Size: $3bn
  • business Number of Businesses: 2,467
  • poll Average Industry Profit Margin: x.x%
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  • supervisor_account Industry Employment: 6,552

Biggest companies in the Insurance Brokerage industry

The companies holding the largest market share in the Insurance Brokerage in New Zealand industry include Aon New Zealand Group, Steadfast NZ Holdings Limited, Crombie Lockwood (NZ) Limited and AUB Group NZ Limited.

  • pie_chart Aon New Zealand Group Market Share: x.x%
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  • pie_chart Steadfast NZ Holdings Limited Market Share: x.x%
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  • pie_chart Crombie Lockwood (NZ) Limited Market Share: x.x%
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  • pie_chart AUB Group NZ Limited Market Share: x.x%
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What is Insurance Brokerage industry?

Industry Definition

Industry firms primarily answer telephone calls and relay messages to clients. Companies also provide telemarketing services on a contract or fee basis, which includes promoting products and services, taking orders, soliciting contributions or donations, and providing information to clients. Telemarketing companies do not own the products or provide the services that they represent.

Industry Products and Services

  • Customer service
  • Sales and customer acquisition
  • Other services
  • Technical assistance
  • All Others

Industry Activities

  • Telephone call centre operation
  • Telephone answering services
  • Voice mailbox services
  • Telemarketing services

Market research report - table of contents

Industry Definition

Industry operators are primarily insurance brokers or agents selling insurance policies. Companies in the industry can also provide other insurance services, such as insurance consulting, claims assessment and adjustment.

Main Activities

  • Actuarial services
  • Claim adjustment and assessment
  • Operating insurance agencies
  • Insurance broking
  • Insurance consulting

Similar Industries

Additional Resources

Industry Statistics Snapshot

Industry Structure

Executive Summary

Key External Drivers

Businesses are a significant market for insurance brokers. Commercial general insurance policies are the industry's largest product segment. Businesses re...
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Number of businesses
Number of households
Cost of natural disasters
Number of motor vehicles

Current Performance

Operating landscape
Financial advice review
 Chart: Revenue Growth

Industry Outlook

Operating landscape
Proposed reforms
 Table: Insurance Brokerage in New Zealand - Market Research Report Industry Revenue Outlook

Industry Life Cycle

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

Supply Chain

Key Buying Industries

Life Insurance in New Zealand
General Insurance in New Zealand
Consumers in New Zealand




Key Selling Industries

General Insurance in New Zealand
Accounting Services in New Zealand





Products & Services

Insurance brokers make income from commissions they generate selling policies to clients. Products and services in the Insurance Brokerage industry can be...
Retail clients





Demand Determinants

Numerous factors, including economic conditions, demographics and distribution channels, determine demand for insurance brokers and related industry servi...
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Major Markets

Retail clients






 Chart: Major Market Segmentation for the Insurance Brokerage 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 Insurance Brokerage industry displays moderate market share concentration. The industry's four largest operators are expected to account for over 55% ...
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Key Success Factors

Cost Structure Benchmarks

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

Basis of Competition

Internal competition
External competition

Barriers to Entry

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

Industry Globalization

Aon New Zealand Group is a wholly owned subsidiary of the UK-based Aon plc and provides a range of services, including risk consulting services, human res...
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Aon New Zealand

 Table: Aon New Zealand - financial performance

Steadfast NZ Holdings

 Table: Steadfast NZ Holdings - financial performance

Crombie Lockwood

 Table: Crombie Lockwood - financial performance

AUB Group NZ

 Table: AUB Group NZ - financial performance

Capital Intensity

The Insurance Brokerage industry exhibits low capital intensity. In 2019-20, for every dollar paid as wages, an estimated $0.04 is spent on capital invest...
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 Chart: Level of Capital Intensity for the Insurance Brokerage 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 Insurance Brokerage in New Zealand Industry

Industry Revenue (2007-2026)
Industry Gross Product (2007-2026)
Establishments (2007-2026)
Businesses (2007-2026)
Employment (2007-2026)
Exports (2007-2026)
Imports (2007-2026)
Wages (2007-2026)
Domestic Demand (2007-2026)

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, %

BANCASSURANCE

DISTRIBUTION NETWORK

GROSS WRITTEN PREMIUM (GWP)

PREMIUM

TRAIL COMMISSION

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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 Insurance Brokerage industry?

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This report on Insurance Brokerage 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 Insurance Brokerage 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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