General insurance providers offer products including motor insurance, property and content insurance, general liability insurance, accident insurance and health insurance. The industry generates revenue by charging its customers premiums and investing this income. Over the past decade, the share of total revenue that is generated through investments has fluctuated greatly. IBISWorld anticipates strong investment conditions to support investment income for the industry over 2015-16.
At the start of the period, the General Insurance industry encountered a tough climate. Negative economic conditions following the financial crisis resulted in weak demand for insurance.
Businesses in this industry underwrite insurance policies relating to property, casualty, liability and other general risks. The premiums they earn from this are then invested to generate additional income. Underwriting life and disability is a separate industry, although many businesses compete in both insurance markets.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.