New Zealand Non-Life Insurance Market to 2027
Summary
Non-Life Insurance in New Zealand industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Non-life insurance is typically defined as any insurance not determined to be life insurance. It includes automobile and homeowners' policies and provides payments depending on the loss from a particular financial event.
- The New Zealand non-life insurance market had total gross written premiums of $5.1 billion in 2022, representing a compound annual growth rate (CAGR) of 7% between 2017 and 2022.
- The property segment accounted for the market's largest proportion in 2022, with total gross written premiums of $2.3 billion, equivalent to 44.2% of the market's overall value.
- Non-life insurance coverage in the New Zealand population is relatively low. According to in-house research, in 2022, non-life insurance penetration (ratio of premiums to GDP) in New Zealand was 2%.
- Save time carrying out entry-level research by identifying the size, growth, and leading players in the non-life insurance market in New Zealand
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in New Zealand
- Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the New Zealand non-life insurance market with five year forecasts by both value and volume
- What was the size of the New Zealand non-life insurance market by value in 2022?
- What will be the size of the New Zealand non-life insurance market in 2027?
- What factors are affecting the strength of competition in the New Zealand non-life insurance market?
- How has the market performed over the last five years?
- How large is New Zealand’s non-life insurance market in relation to its regional counterparts?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market rivalry
- 1.6. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Who are the leading players?
- 7.2. What strategies do the leading players follow?
- 7.3. What has been the rationale behind recent M&A activity?
- 8 Company Profiles
- 8.1. AA Insurance Limited
- 8.2. IAG New Zealand Ltd
- 8.3. Vero Insurance New Zealand Ltd
- 8.4. Southern Cross Financial Group
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: New Zealand non-life insurance market value: $ billion, 2017–22
- Table 2: New Zealand non–life insurance market category segmentation: % share, by value, 2017–2022
- Table 3: New Zealand non-life insurance market category segmentation: $ billion, 2017-2022
- Table 4: New Zealand non–life insurance market geography segmentation: $ billion, 2022
- Table 5: New Zealand non-life insurance market value forecast: $ billion, 2022–27
- Table 6: AA Insurance Limited: key facts
- Table 7: AA Insurance Limited: Key Employees
- Table 8: IAG New Zealand Ltd: key facts
- Table 9: IAG New Zealand Ltd: Key Employees
- Table 10: Vero Insurance New Zealand Ltd: key facts
- Table 11: Vero Insurance New Zealand Ltd: Key Employees
- Table 12: Southern Cross Financial Group: key facts
- Table 13: Southern Cross Financial Group: Key Employees
- Table 14: New Zealand size of population (million), 2018–22
- Table 15: New Zealand gdp (constant 2005 prices, $ billion), 2018–22
- Table 16: New Zealand gdp (current prices, $ billion), 2018–22
- Table 17: New Zealand inflation, 2018–22
- Table 18: New Zealand consumer price index (absolute), 2018–22
- Table 19: New Zealand exchange rate, 2018–22
- List of Figures
- Figure 1: New Zealand non-life insurance market value: $ billion, 2017–22
- Figure 2: New Zealand non-life insurance market category segmentation: $ billion, 2017-2022
- Figure 3: New Zealand non–life insurance market geography segmentation: % share, by value, 2022
- Figure 4: New Zealand non-life insurance market value forecast: $ billion, 2022–27
- Figure 5: Forces driving competition in the non-life insurance market in New Zealand, 2022
- Figure 6: Drivers of buyer power in the non-life insurance market in New Zealand, 2022
- Figure 7: Drivers of supplier power in the non-life insurance market in New Zealand, 2022
- Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in New Zealand, 2022
- Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in New Zealand, 2022
- Figure 10: Drivers of degree of rivalry in the non-life insurance market in New Zealand, 2022
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