Insurance Companies Australia Market Share
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Insurance companies australia market share. The foreign owned private company entered the australian market in 2002 and currently serves over 4 million customers in australia and new zealand. Ranks 1st with a market share of 24 2 aia australia limited. Has over 40 years experience delivering health insurance to 3 7 million customers via their medibank and ahm brands.
Tal life 17 8 owned by japanese insurer dai ichi life. Aia australia 15 6 owned by hong kong based aia group. Ranks 3rd with a market share of 14 5 mlc limited.
Top 10 life insurance companies in australia. In australia alone aia provides life insurance cover to more than 2 million australians a number which is 20 of the market share in the insurance industry on australia. Figure 2 1 market share of top 12 general insurers for home insurance 4 2 3 the number of licenced insurers has fallen in recent years with a net decline of 25 over the past decade.
Market share refers to the portion of the overall life insurance industry maintained within any single company and is generally built on their organic growth mergers and acquisitions and strategic partnerships including with super funds. The largest 10 life insurance companies by total risk premium inflows in the 12 months to 30 september 2018 accounted for 95 5 of the australian market. Ranks 5th with a market share of 10 5 bt westpac group.
Suite 1 600 victoria st richmond vic 3121 1300 955 691. Figure 2 1 details the market share of the top 12 general insurers for home insurance in australia. Here is a comprehensive list of health insurance companies in australia with comparison of market share business structure and health insurance brands.
These companies are market share shown in brackets. Australia s top five insurers share of the market has dropped 13 from 15 years ago report finds. General insurance in australia industry trends 2014 2019 general insurance in australia industry outlook 2019 2024 poll average industry growth 2019 2024.
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