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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Australia Insurance Market Size
The Australia insurance market value reached USD 73.4 billion in 2023. The market is further projected to grow at a CAGR of 1.8% between 2024 and 2032, reaching a value of USD 86.7 billion by 2032.
Australia Insurance Market Report Snapshots
Australia Insurance Market Size
Australia Insurance Market Growth
Australia Insurance Market Analysis
Australia Insurance Market Share
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 73.4 billion.
The Australian insurance market is assessed to grow at a CAGR of 1.8% between 2024 and 2032.
The insurance market in Australia is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 86.7 billion by 2032.
The market is being driven as insurance aids in protecting high-value purchases like homes and cars, safeguarding property and possessions against disasters, ensuring financial protection in case of lawsuits, and fulfilling long-term and short-term financial planning goals.
Key trends aiding the market expansion are a shift towards more detailed data analytics tools, growing demand for personalised insurance products and inclusive insurance offerings, and a focus on customer-centric services and regulatory compliance.
Regions considered in the market are New South Wales, Victoria, Queensland, Western Australia, and the Australian Capital Territory, among others.
Based on organisation size, the market comprises small and medium-sized enterprises (SMEs) and large enterprises.
Life insurance, property and casualty insurance, non-life insurance, and health and medical insurance are considered in the report.
The competitive landscape consists of Insurance Australia Group Limited, Suncorp Group Limited, QBE Insurance (Australia) Limited, Allianz Australia Limited, Dai-ichi Life Holdings, Inc., AIA Group Limited, Zurich Financial Services Australia Ltd., Resolution Life NOHC Pty Limited, Medibank Private Limited, and Steadfast Group Limited, among others.
Based on the mode, the market is divided into online and offline.
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