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Life Insurance in Australia

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Details

Life Insurance in Australia

Summary

Life Insurance in Australia industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2013-17, and forecast to 2022). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Essential resource for top-line data and analysis covering the Australia life insurance market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Key Highlights

The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans. All currency conversions have been calculated using constant 2017 annual average exchange rates. The insurance market depends on a variety of economic and non-economic factors and future performance is difficult to predict. The forecast given in this report is not based on a complex economic model, but is intended as a rough guide to the direction in which the market is likely to move.

The Australian life insurance market had total gross written premiums of USD 32.2bn in 2017, representing a compound annual rate of change (CARC) of -3% between 2013 and 2017.

The life insurance segment was the market's most lucrative in 2017, with total gross written premiums of USD 17.8bn, equivalent to 55.3% of the market's overall value.

The reasons for this recent decline range from a drop in average wages to reduced savings, meaning fewer customers have the financial capability of acquiring life insurance. For example as per the OECD the average wage in Australia declined by 1.3% between 2014 and 2015. Between 2016 and 2017, there was marginal growth in this category, but adjusted for inflation saw Australian wages decline even further.

Scope

- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in Australia

- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in Australia

- Leading company profiles reveal details of key life insurance market players' global operations and financial performance

- Add weight to presentations and pitches by understanding the future growth prospects of the Australia life insurance market with five year forecasts

Reasons to buy

- What was the size of the Australia life insurance market by value in 2017?

- What will be the size of the Australia life insurance market in 2022?

- What factors are affecting the strength of competition in the Australia life insurance market?

- How has the market performed over the last five years?

- Who are the top competitiors in Australia's life insurance market?

READ MORE

Table Of Content

Scope

Table of Contents

Executive Summary 2

Market value 2

Market value forecast 2

Category segmentation 2

Geography segmentation 2

Market share 2

Market rivalry 2

Market Overview 7

Market definition 7

Market analysis 7

Market Data 9

Market value 9

Market Segmentation 10

Category segmentation 10

Geography segmentation 11

Market share 12

Market Outlook 13

Market value forecast 13

Five Forces Analysis 14

Summary 14

Buyer power 16

Supplier power 17

New entrants 18

Threat of substitutes 20

Degree of rivalry 21

Leading Companies 22

AMP Limited 22

Challenger Ltd. 26

MetLife, Inc. 29

TAL Dai-ichi Life Australia Pty Ltd 33

Macroeconomic Indicators 34

Country data 34

Methodology 36

Industry associations 37

Related MarketLine research 37

Appendix 38

About MarketLine 38


List Of Figure

List of Figures

Figure 1: Australia life insurance market value: USD billion, 2013-17

Figure 2: Australia life insurance market category segmentation: % share, by value, 2017

Figure 3: Australia life insurance market geography segmentation: % share, by value, 2017

Figure 4: Australia life insurance market share: % share, by value, 2017

Figure 5: Australia life insurance market value forecast: USD billion, 2017-22

Figure 6: Forces driving competition in the life insurance market in Australia, 2017

Figure 7: Drivers of buyer power in the life insurance market in Australia, 2017

Figure 8: Drivers of supplier power in the life insurance market in Australia, 2017

Figure 9: Factors influencing the likelihood of new entrants in the life insurance market in Australia, 2017

Figure 10: Factors influencing the threat of substitutes in the life insurance market in Australia, 2017

Figure 11: Drivers of degree of rivalry in the life insurance market in Australia, 2017

Figure 12: AMP Limited: revenues & profitability

Figure 13: AMP Limited: assets & liabilities

Figure 14: Challenger Ltd.: revenues & profitability

Figure 15: Challenger Ltd.: assets & liabilities

Figure 16: MetLife, Inc.: revenues & profitability

Figure 17: MetLife, Inc.: assets & liabilities


List Of Table

List of Tables

Table 1: Australia life insurance market value: USD billion, 2013-17

Table 2: Australia life insurance market category segmentation: USD billion, 2017

Table 3: Australia life insurance market geography segmentation: USD billion, 2017

Table 4: Australia life insurance market share: % share, by value, 2017

Table 5: Australia life insurance market value forecast: USD billion, 2017-22

Table 6: AMP Limited: key facts

Table 7: AMP Limited: key financials (USD )

Table 8: AMP Limited: key financials (AUSD )

Table 9: AMP Limited: key financial ratios

Table 10: Challenger Ltd.: key facts

Table 11: Challenger Ltd.: key financials (USD )

Table 12: Challenger Ltd.: key financials (AUSD )

Table 13: Challenger Ltd.: key financial ratios

Table 14: MetLife, Inc.: key facts

Table 15: MetLife, Inc.: key financials (USD )

Table 16: MetLife, Inc.: key financial ratios

Table 17: TAL Dai-ichi Life Australia Pty Ltd: key facts

Table 18: Australia size of population (million), 2013-17

Table 19: Australia gdp (constant 2005 prices, USD billion), 2013-17

Table 20: Australia gdp (current prices, USD billion), 2013-17

Table 21: Australia inflation, 2013-17

Table 22: Australia consumer price index (absolute), 2013-17

Table 23: Australia exchange rate, 2013-17

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Single User License:
Report can be used by individual purchaser only

Site License: 
Report can be shared by unlimited users within one corporate location, e.g. a regional office

Corporate User License:  
Report can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

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Products and Companies


Companies

AMP Limited

Challenger Ltd.

MetLife, Inc.

TAL Dai-ichi Life Australia Pty Ltd

Company Profile

Company Profile Title

Life Insurance in Australia

Summary

Life Insurance in Australia industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2013-17, and forecast to 2022). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Essential resource for top-line data and analysis covering the Australia life insurance market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Key Highlights

The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans. All currency conversions have been calculated using constant 2017 annual average exchange rates. The insurance market depends on a variety of economic and non-economic factors and future performance is difficult to predict. The forecast given in this report is not based on a complex economic model, but is intended as a rough guide to the direction in which the market is likely to move.

The Australian life insurance market had total gross written premiums of USD 32.2bn in 2017, representing a compound annual rate of change (CARC) of -3% between 2013 and 2017.

The life insurance segment was the market's most lucrative in 2017, with total gross written premiums of USD 17.8bn, equivalent to 55.3% of the market's overall value.

The reasons for this recent decline range from a drop in average wages to reduced savings, meaning fewer customers have the financial capability of acquiring life insurance. For example as per the OECD the average wage in Australia declined by 1.3% between 2014 and 2015. Between 2016 and 2017, there was marginal growth in this category, but adjusted for inflation saw Australian wages decline even further.

Scope

- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in Australia

- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in Australia

- Leading company profiles reveal details of key life insurance market players' global operations and financial performance

- Add weight to presentations and pitches by understanding the future growth prospects of the Australia life insurance market with five year forecasts

Reasons to buy

- What was the size of the Australia life insurance market by value in 2017?

- What will be the size of the Australia life insurance market in 2022?

- What factors are affecting the strength of competition in the Australia life insurance market?

- How has the market performed over the last five years?

- Who are the top competitiors in Australia's life insurance market?

READ MORE

Scope

Table of Contents

Executive Summary 2

Market value 2

Market value forecast 2

Category segmentation 2

Geography segmentation 2

Market share 2

Market rivalry 2

Market Overview 7

Market definition 7

Market analysis 7

Market Data 9

Market value 9

Market Segmentation 10

Category segmentation 10

Geography segmentation 11

Market share 12

Market Outlook 13

Market value forecast 13

Five Forces Analysis 14

Summary 14

Buyer power 16

Supplier power 17

New entrants 18

Threat of substitutes 20

Degree of rivalry 21

Leading Companies 22

AMP Limited 22

Challenger Ltd. 26

MetLife, Inc. 29

TAL Dai-ichi Life Australia Pty Ltd 33

Macroeconomic Indicators 34

Country data 34

Methodology 36

Industry associations 37

Related MarketLine research 37

Appendix 38

About MarketLine 38


List Of Figure

List of Figures

Figure 1: Australia life insurance market value: USD billion, 2013-17

Figure 2: Australia life insurance market category segmentation: % share, by value, 2017

Figure 3: Australia life insurance market geography segmentation: % share, by value, 2017

Figure 4: Australia life insurance market share: % share, by value, 2017

Figure 5: Australia life insurance market value forecast: USD billion, 2017-22

Figure 6: Forces driving competition in the life insurance market in Australia, 2017

Figure 7: Drivers of buyer power in the life insurance market in Australia, 2017

Figure 8: Drivers of supplier power in the life insurance market in Australia, 2017

Figure 9: Factors influencing the likelihood of new entrants in the life insurance market in Australia, 2017

Figure 10: Factors influencing the threat of substitutes in the life insurance market in Australia, 2017

Figure 11: Drivers of degree of rivalry in the life insurance market in Australia, 2017

Figure 12: AMP Limited: revenues & profitability

Figure 13: AMP Limited: assets & liabilities

Figure 14: Challenger Ltd.: revenues & profitability

Figure 15: Challenger Ltd.: assets & liabilities

Figure 16: MetLife, Inc.: revenues & profitability

Figure 17: MetLife, Inc.: assets & liabilities


List Of Table

List of Tables

Table 1: Australia life insurance market value: USD billion, 2013-17

Table 2: Australia life insurance market category segmentation: USD billion, 2017

Table 3: Australia life insurance market geography segmentation: USD billion, 2017

Table 4: Australia life insurance market share: % share, by value, 2017

Table 5: Australia life insurance market value forecast: USD billion, 2017-22

Table 6: AMP Limited: key facts

Table 7: AMP Limited: key financials (USD )

Table 8: AMP Limited: key financials (AUSD )

Table 9: AMP Limited: key financial ratios

Table 10: Challenger Ltd.: key facts

Table 11: Challenger Ltd.: key financials (USD )

Table 12: Challenger Ltd.: key financials (AUSD )

Table 13: Challenger Ltd.: key financial ratios

Table 14: MetLife, Inc.: key facts

Table 15: MetLife, Inc.: key financials (USD )

Table 16: MetLife, Inc.: key financial ratios

Table 17: TAL Dai-ichi Life Australia Pty Ltd: key facts

Table 18: Australia size of population (million), 2013-17

Table 19: Australia gdp (constant 2005 prices, USD billion), 2013-17

Table 20: Australia gdp (current prices, USD billion), 2013-17

Table 21: Australia inflation, 2013-17

Table 22: Australia consumer price index (absolute), 2013-17

Table 23: Australia exchange rate, 2013-17

Single User License:
Report can be used by individual purchaser only

Site License: 
Report can be shared by unlimited users within one corporate location, e.g. a regional office

Corporate User License:  
Report can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

To know more information on Purchase by Section, please send a mail to support@kenresearch.com

INQUIRE FOR COVID-19 IMPACT ANALYSIS


Companies

AMP Limited

Challenger Ltd.

MetLife, Inc.

TAL Dai-ichi Life Australia Pty Ltd