Australia

The country profile below provides information on population, gross domestic product, insurance premiums and leading insurers.

Insurance Association

Insurance Council of Australia
Web: www.insurancecouncil.com.au

 

POPULATION, 2011-2014 (1)

Year Population
2011 21,766,711
2012 22,015,576
2013 22,262,501
2014 22,507,617

(1) Estimated.

Source: U.S. Central Intelligence Agency.

 

 

GROSS DOMESTIC PRODUCT, 2009-2013 (1)

Year GDP
2009 $824.9
2010 819.0
2011 889.6
2012 917.7
2013 998.3

(1) Based on Purchasing Power Parity calculations, which take into account the relative cost of living and inflation rates of countries. GDP estimate for July for each year shown.

Source: U.S. Central Intelligence Agency.

 

 

LIFE AND NONLIFE INSURANCE PREMIUMS, 2014

(U.S. $ millions)

  Direct premiums written
Nonlife premiums (1) $31,924
Life premiums 56,151
Total premiums $88,075
Percent of total world premiums 1.84%

(1) Includes accident and health insurance.

Source: Swiss Re, sigma, No. 4/2015.

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LEADING NONLIFE INSURANCE COMPANIES, 2013

  Gross written premiums
Company AUD Mn USD Mn
QBE Insurance (Australia) Limited 4,253.4 4,106.2
Insurance Australia Limited 3,939.9 3,803.6
Allianz Australia Insurance Limited 3,755.4 3,625.5
Insurance Manufacturers of Australia Pty Limited 2,877.8 2,778.2
CGU Insurance Limited 2,329.2 2,248.6
Australian Associated Motor Insurers Limited 2,228.2 2,151.1
GIO General Limited 1,781.4 1,719.7
AAI Limited 1,652.4 1,595.3
Wesfarmers General Insurance Limited 1,330.2 1,284.1
Zurich Australian Insurance Limited 1,291.2 1,246.5

Source: Axco Insurance Information Services.

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LEADING LIFE INSURANCE COMPANIES, 2013

  Gross written premiums
Company AUD Mn USD Mn
MLC Limited 1,479.6 1,428.4
The Colonial Mutual Life Assurance Society Limited 1,276.2 1,232.0
AMP Life Limited 1,171.7 1,131.1
OnePath Life Limited 1,115.9 1,077.3
TAL Life Limited 978.1 944.2
The National Mutual Life Association of Australasia Limited 897.8 866.7
AIA Australia Limited 887.3 856.6
Westpac Life Insurance Services Limited 753.2 727.1
Suncorp Life & Superannuation Limited 525.6 507.4
MetLife Insurance Limited 342.5 330.6

Source: Axco Insurance Information Services.

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