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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the New Zealand non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in New Zealand's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the New Zealand non-life (P&C) market as well as trends by line of business. Axco analysts also report on New Zealand's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes New Zealand's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in New Zealand, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in New Zealand, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in New Zealand with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
New Zealand was the 32nd largest non-life market in the world in 2019 with premium income of NZD 6.88bn (USD 4.54bn). GDP per capita is below that of neighbouring Australia and the population of only 4.86 million is spread across two largely rural islands, both of which have a high earthquake exposure.
The most distinctive feature of the insurance environment ....
This is a brief extract of information; more updated information may be available in the latest published report.