Australia Insurance Report - Business Monitor International - Industry Reports

Australia Insurance Report

Australia Insurance Report - Business Monitor International - Industry Reports
Australia Insurance Report
Published Aug 30, 2016
57 pages — Published Aug 30, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

This quarter we are only marginally changing our projections for life insurance premiums through the forecast period. For instance, we are now forecasting life insurance premiums in ---- of AUD--.-bn, as opposed to AUD--.-bn previously. ...For instance, we are now forecasting life insurance premiums in ---- of AUD--.-bn, as opposed to AUD--.-bn previously. We anticipate that life insurance premiums will increase by -.---.- annually through the last three years of the forecast period, or a little faster than we had expected in Q---. We are now forecasting life premiums to amount to AUD--.-bn in ----, or marginally less than the AUD--.-bn that we previously forecast. ...A reduction in assets, of -.- to AUD---.-bn, meant that return on net assets gained by -.-pp during the year, to --.- .

...However, retirement savings will continue to be channelled through super funds. ...One of the wealthiest of the OECD countries, Australia is a nation where roughly half of all households have income of USD--,--- or more. Although this percentage is set to fall slightly in ---- due to the weakness of the Australian dollar, we do expect to see a recovery in the already very strong household income rates over the course of the forecast period, meaning life products will remain highly affordable. Looking forward, growth in absolute incomes, and in the Superannuation Guarantee (SG) levy, will continue to drive the expansion of the super funds. ...Although this percentage is set to fall slightly in ---- due to the weakness of the Australian dollar, we do expect to see a recovery in the already very strong household income rates over the course of the forecast period, meaning life products will remain highly affordable. Looking forward, growth in absolute incomes, and in the Superannuation Guarantee (SG) levy, will continue to drive the expansion of the super funds.

...Australia is home to the world s fourth largest pool of organised retirement savings, in the form of the superannuation funds (super funds) which have assets of around AUD - trillion. The super funds will grow steadily over the coming years. ...The super funds will grow steadily over the coming years. This is because of the growth in the workforce, thanks to net immigration; the general rise in incomes over time; the increase in the superannuation guarantee (SG) levy - the portion of workers incomes that must be contributed to superannuation; and investment earnings. The implication for this is that the super funds (other than self-managed super funds or SMSFs) will represent a growing market for group life products. ...

  
Source:
Document ID
1752-7945
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Australia Insurance Report" Aug 30, 2016. Alacra Store. Dec 06, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Australia-Insurance-Report-2026-683>
  
APA:
Business Monitor International - Industry Reports. (2016). Australia Insurance Report Aug 30, 2016. New York, NY: Alacra Store. Retrieved Dec 06, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Australia-Insurance-Report-2026-683>
  
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