The past five years have been a turbulent period for the Home and Contents Insurance industry. The period began with the industry enjoying strong investment returns after recovering from global financial crisis. This was offset by a number of severe weather events, which caused billions of dollars in damages. These events led to an unprecedented level of claims, which pressured insurers' profit margins. As a result, insurers have been raising premiums significantly to cope with the increased level of risk that is now priced into the Australian market. More recently, record low interest rates have eroded the industry's returns, and this is expected to continue for some time.
This industry underwrites (i.e. assuming the risk and assigning premiums) home and contents insurance policies. Insurance policies provided by the industry protect against loss or damage to property due to theft, fire and other causes. They also protect against personal liability that may arise from injury on one's property.
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.