Summary
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
- The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans.
- The New Zealand life insurance market had total gross written premiums of $2.2 billion in 2022, representing a compound annual growth rate (CAGR) of 4.3% between 2017 and 2022.
- The Life Insurance segment accounted for market's the largest proportion in 2022, with total gross written premiums of $1.7 billion, equivalent to 79.5% of the market's overall value.
- New Zealand’s life insurance market grew at a moderate rate in the historic period at a CAGR of 4.3%, between 2017 and 2022.
Scope
- Save time carrying out entry-level research by identifying the size, growth, and leading players in the life insurance market in New Zealand
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in New Zealand
- Leading company profiles reveal details of key 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 life insurance market with five year forecasts by both value and volume
Reasons to Buy
- What was the size of the New Zealand life insurance market by value in 2022?
- What will be the size of the New Zealand life insurance market in 2027?
- What factors are affecting the strength of competition in the New Zealand life insurance market?
- How has the market performed over the last five years?
- How large is New Zealand’s life insurance market in relation to its regional counterparts?
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Table of Contents
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 have been the recent developments by the leading players?
7.5. How has the COVID-19 outbreak impacted the market?
8 Company Profiles
8.1. IAG New Zealand Ltd
8.2. QBE Insurance Group 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 life insurance market value: $ billion, 2017-22(e)
Table 2: New Zealand life insurance market category segmentation: % share, by value, 2017–2022(e)
Table 3: New Zealand life insurance market category segmentation: $ billion, 2017-2022
Table 4: New Zealand life insurance market geography segmentation: $ billion, 2022(e)
Table 5: New Zealand life insurance market value forecast: $ billion, 2022-27
Table 6: New Zealand life insurance market share: % share, by value, 2022(e)
Table 7: IAG New Zealand Ltd: key facts
Table 8: IAG New Zealand Ltd: Key Employees
Table 9: QBE Insurance Group Ltd: key facts
Table 10: QBE Insurance Group Ltd: Annual Financial Ratios
Table 11: QBE Insurance Group Ltd: Key Employees
Table 12: QBE Insurance Group Ltd: Key Employees Continued
Table 13: Vero Insurance New Zealand Ltd: key facts
Table 14: Vero Insurance New Zealand Ltd: Key Employees
Table 15: Southern Cross Financial Group: key facts
Table 16: Southern Cross Financial Group: Key Employees
Table 17: New Zealand size of population (million), 2018–22
Table 18: New Zealand gdp (constant 2005 prices, $ billion), 2018–22
Table 19: New Zealand gdp (current prices, $ billion), 2018–22
Table 20: New Zealand inflation, 2018–22
Table 21: New Zealand consumer price index (absolute), 2018–22
Table 22: New Zealand exchange rate, 2016–20
List of Figures
Figure 1: New Zealand life insurance market value: $ billion, 2017-22(e)
Figure 2: New Zealand life insurance market category segmentation: $ billion, 2017-2022
Figure 3: New Zealand life insurance market geography segmentation: % share, by value, 2022(e)
Figure 4: New Zealand life insurance market value forecast: $ billion, 2022-27
Figure 5: Forces driving competition in the life insurance market in New Zealand, 2022
Figure 6: Drivers of buyer power in the life insurance market in New Zealand, 2022
Figure 7: Drivers of supplier power in the life insurance market in New Zealand, 2022
Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in New Zealand, 2022
Figure 9: Factors influencing the threat of substitutes in the life insurance market in New Zealand, 2022
Figure 10: Drivers of degree of rivalry in the life insurance market in New Zealand, 2022
Figure 11: New Zealand life insurance market share: % share, by value, 2022(e)
