Property and Casualty Insurance Market in New Zealand - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
Key Highlights
Residential buildings are the largest contributor to national construction in New Zealand. Residential buildings contributed 58% of total construction value in 2018. Insurance should be compulsory for people building a new home and doing over NZD 30,000 renovations, a majority of government submissions claim. New Zealand has a population of 4.9 million and is ranked number one for ease of doing business, ease of accessing credit and ease of registration of a property.
Growing tech Export:The New Zealand market accounted for 29.1% of New Zealand's export technology sector revenue in 2018. Australian sources of revenue followed closely behind with a 26% share. Fintech and software solutions represented the highest growth segments for this sector. Growth is evident across every New Zealand region, with North Auckland/Northland and Hamilton regions growing by over 16%. The highest growth sectors were Fintech 33.2%and Software Solutions 20.3%.
Competitive LandscapeThe report covers the major players operating in the Property and casualty insurance market in New Zealand. The market is Consolidated, Market is expected to grow during the forecast period due to new government regulations and low penetration in the market compared to OCED countries.
Additional Benefits:Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook