New Market Research Report: New Zealand Insurance Report Q3 2016

We retain our view that the New Zealand insurance market is comparatively small by global standards and a subdued domestic economic outlook weighs in on premium growth prospects , i n both the life and non-life sector through our forecast period out to 2020. The strengthening of the American dollar against the New Zealand dollar will also constrain dollar denominated premiums in both 2016 and 2017. We estimate that over the longer term, demand for key non-life lines , such as property and motor , will continue to remain high. However, we believe that demand for life productions, the smaller market at p resent, is expected to grow quicker , as awareness of the benefits of life products in conjunction with rising household incomes bolsters product offerings.

Full Report Details at
- http://www.fastmr.com/prod/1152864_new_zealand_insurance_report.aspx?afid=301

Key Updates And Forecasts

The weakening of the New Zealand dollar continues to be a drag on the growth prospects of the insurance industry in terms of dollar denominated growth for both sectors and our new forecasts envision dollar contractions in both 2016 and 2017.

New Zealand's life insurance market is underdeveloped but does offer growth potential. At present, we expect life premiums to grow broadly in line with GDP, increasing from around NZD2.4bn in 2015 to over NZD3.0bn in 2020, while over the longer term demographic trends, including an ageing population and increasing household disposable income, will lead to increased demand.

The New Zealand Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's New Zealand Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the New Zealand insurance industry.

Key Benefits
Benchmark BMI's independent insurance industry forecasts for New Zealand to test other views - a key input for successful budgeting and strategic business planning in New Zealand's insurance market.
Target business opportunities and risks in New Zealand through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).

Coverage

BMI Industry View

Summary of BMI’s key industry forecasts and views, covering the Life and Non-Life segments, the evolving competitive landscape and business operational risks.

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