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Australia Insurance Market

Australia Insurance Market Size, Share, Trends, Analysis: By Type: Life Insurance, Property and Casualty Insurance, Non-Life Insurance, Health and Medical Insurance; By Organisation Size: Small and Medium-sized Enterprises (SMEs), Large Enterprises; By Mode: Online, Offline; By End Use; Regional Analysis; Competitive Landscape; 2024-2032

*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.

1    Preface  
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5     Executive Summary

    5.1    Overview
    5.2    Key Drivers    
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
7    Opportunities and Challenges in the Market
8    Australia Insurance Market Overview

    8.1    Key Industry Highlights
    8.2    Australia Insurance Historical Market (2018-2023) 
    8.3    Australia Insurance Market Forecast (2024-2032) 
9    Australia Insurance Market by Type 
    9.1    Life Insurance 
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Property and Casualty Insurance  
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
    9.3    Non-Life Insurance
        9.3.1    Historical Trend (2018-2023)
        9.3.2    Forecast Trend (2024-2032)
    9.4    Health and Medical Insurance 
        9.4.1    Historical Trend (2018-2023)
        9.4.2    Forecast Trend (2024-2032)
10    Australia Insurance Market by Organisation Size 
    10.1    Small and Medium-sized Enterprises (SMEs) 
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Large Enterprises  
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
11    Australia Insurance Market by Mode  
    11.1    Online 
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Offline 
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
12    Australia Insurance Market by End Use  
    12.1    Individual  
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Corporate 
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
13    Australia Insurance Market by Region
    13.1    New South Wales
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    Victoria
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Queensland
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    Australian Capital Territory
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
    13.5    Western Australia
        13.5.1    Historical Trend (2018-2023)
        13.5.2    Forecast Trend (2024-2032)
    13.6    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Insurance Australia Group Limited
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Suncorp Group Limited
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    QBE Insurance (Australia) Limited   
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Allianz Australia Limited
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Dai-ichi Life Holdings, Inc.
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    AIA Group Limited
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Zurich Financial Services Australia Ltd.
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Resolution Life NOHC Pty Limited  
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    Medibank Private Limited
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10     Steadfast Group Limited
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    Others
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables
 
1.    Australia Insurance Market: Key Industry Highlights, 2018 and 2032
2.    Australia Insurance Historical Market: Breakup by Type (USD Billion), 2018-2023
3.    Australia Insurance Market Forecast: Breakup by Type (USD Billion), 2024-2032
4.    Australia Insurance Historical Market: Breakup by Organization Size (USD Billion), 2018-2023
5.    Australia Insurance Market Forecast: Breakup by Organization Size (USD Billion), 2024-2032
6.    Australia Insurance Historical Market: Breakup by Mode (USD Billion), 2018-2023
7.    Australia Insurance Market Forecast: Breakup by Mode (USD Billion), 2024-2032
8.    Australia Insurance Historical Market: Breakup by End Use (USD Billion), 2018-2023
9.    Australia Insurance Market Forecast: Breakup by End Use (USD Billion), 2024-2032
10.    Australia Insurance Historical Market: Breakup by Region (USD Billion), 2018-2023
11.    Australia Insurance Market Forecast: Breakup by Region (USD Billion), 2024-2032
12.    Australia Insurance Market Structure

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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