New Zealand Non-Life Insurance Market Summary, Competitive Analysis and Forecast to 2027
Summary
Non-Life Insurance in New Zealand industry profile provides top-line qualitative and quantitative summary information including: market share, 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
- The non-life insurance market consists of the general insurance market segmented into motor, property, liability and other insurance. The other segment is made up of non-life insurance products including health, travel, and accident cover among others. The value of the non-life insurance market is shown in terms of gross premium incomes. Gross premium income is defined as the insurer’s premium income for the year from its policies, calculated without reduction for reinsurance premiums paid or payable by the insurer.
- The New Zealand non-life insurance market had total gross written premiums of $10.4 million in 2022, representing a compound annual growth rate (CAGR) of 4.4% between 2017 and 2022.
- The Property segment accounted for market's the largest proportion in 2022, with total gross written premiums of $4.3 million, equivalent to 41.5% of the market's overall value.
- According to the OECD, the consumer confidence index in New Zealand was at 97.0 points in September 2022 as compared to 99.1 points in the same month in 2021.
- Save time carrying out entry-level research by identifying the size, growth, major segments, 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?
- Who are the top competitors in New Zealand's non-life insurance market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market share
- 1.6. Market rivalry
- 1.7. 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. Market share
- 7.2. Who are the leading players?
- 7.3. What strategies do leading players follow?
- 7.4. What has been the rationale behind recent M&A activity?
- 7.5. How has the COVID-19 outbreak impacted the market?
- 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. About MarketLine
- List of Tables
- Table 1: New Zealand non-life insurance market value: $ billion, 2017-22(e)
- Table 2: New Zealand non–life insurance market category segmentation: % share, by value, 2017–2022(e)
- 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(e)
- Table 5: New Zealand non-life insurance market value forecast: $ billion, 2022-27
- Table 6: New Zealand non-life insurance market share: % share, by value, 2022(e)
- Table 7: AA Insurance Limited: key facts
- Table 8: AA Insurance Limited: Key Employees
- Table 9: IAG New Zealand Ltd: key facts
- Table 10: IAG New Zealand Ltd: Key Employees
- Table 11: Vero Insurance New Zealand Ltd: key facts
- Table 12: Vero Insurance New Zealand Ltd: Key Employees
- Table 13: Southern Cross Financial Group: key facts
- Table 14: Southern Cross Financial Group: Key Employees
- Table 15: New Zealand size of population (million), 2018–22
- Table 16: New Zealand gdp (constant 2005 prices, $ billion), 2018–22
- Table 17: New Zealand gdp (current prices, $ billion), 2018–22
- Table 18: New Zealand inflation, 2018–22
- Table 19: New Zealand consumer price index (absolute), 2018–22
- Table 20: New Zealand exchange rate, 2017–21
- List of Figures
- Figure 1: New Zealand non-life insurance market value: $ billion, 2017-22(e)
- 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(e)
- 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
- Figure 11: New Zealand non-life insurance market share: % share, by value, 2022(e)
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