2013-02-26 01:42:24 - Recently published research from Business Monitor International, "New Zealand Insurance Report Q2 2013", is now available at Fast Market Research

Key Insights And Key Risks

By most metrics, the insurance sector in New Zealand remains underdeveloped in early 2013. This is partly because of the socialisation of risk through the Earthquake Commission (EQC) and the Accident Compensation Corporation (ACC), in the non-life (property and casualty) and life segments respectively. The EQC demonstrated its effectiveness in the wake of the main Christchurch earthquake of February 22, 2011. The Accident Compensation Corporation has been actively introducing reforms and changes to resolve its long-term funding issues.

However, there are other challenges. These include a fairly sluggish economy, a general absence of consumer confidence and the maturity of many of the main non-life lines. Non-life companies have been able to pass on costs of higher reinsurance

premiums to their customers. Overall, though, non-life premiums are growing at single-digit rates. There is no obvious catalyst for this to change.


Full Report Details at
- www.fastmr.com/prod/541249_new_zealand_insurance_report_q2_2013. ..


In the life segment, two main trends continue to stand out. First, premium growth, as in the non-life segment, is sluggish. This may be because of the recent compression in real incomes. A more fundamental problem, which the Financial Services Council hopes to address, is that New Zealanders tend not to see the need for life insurance products and/or begrudge having to pay premiums. Second, the assets under management (AUM) of the KiwiSaver schemes have been growing rapidly. We believe life density will still be low by the standards of developed countries at the end of the forecast period.

Report Table of Contents:

BMI Industry View
- Table: Total Premiums, 2010-2017
SWOT
- Insurance
- Business Environment
- Economic
- Political
Industry Forecast
- Life
- Table: Life Premiums, 2010-2017
- Non Life
- Table: Total Non-Life Premiums, 2010-2017
Industry Risk Reward Ratings
- Table: New Zealand's Insurance Risk/Reward Rating
- Table: Developed States Insurance Risk/Reward Ratings
Market Overview
- Life Sector Update
- Non Life Sector Update
Industry Trends And Developments
- Life Growth Drivers And Risk Management Projections
- Population
- Table: Insurance Key Drivers, Demographics, 2010-2017
- Non Life Growth Drivers And Risk Management Projections
- Macroeconomic Outlook
- Table: New Zealand - Economic Activity
- Political Stability Outlook
- Table: Table: Developed States Security Risk Ratings (scores out of 100, with 100 the best)
- Healthcare Insurance
- Epidemiology
- Table: Insurance Key Drivers, Disease Adjusted Life Years 2010-2017
Competitive Landscape
- Table: ACC Accounts
Company Profile
- AMP Limited
- Insurance Australia Group
- Sovereign
- Suncorp Group
- TOWER
Regional Overview
- Developed States Life Sector Overview
- Table: Developed States Life Premiums, 2010-2017
- Developed States Non Life Sector Overview
- Table: Developed States Non-Life Premiums, 2010-2017 (US$mn)
Demographic Forecast
- Table: New Zealand's Population By Age Group, 1990-2020 ('000)
- Table: New Zealand's Population By Age Group, 1990-2020 (% of total)
- Table: New Zealand's Key Population Ratios, 1990-2020
- Table: New Zealand's Rural And Urban Population, 1990-2020
Methodology
- Insurance Risk/Reward Ratings
- Table: Insurance Risk/Reward Ratings Indicators And Rationale
- Weighting
- Table: Weighting Of Indicators

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