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, 2010-2014 (1)

(U.S. $ billions)

Year GDP
2010 $819.0
2011 889.6
2012 917.7
2013 998.3
2014 1,100.0

(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.

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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, 2015

 

  Gross written premiums
Company AUD Mn USD Mn
AAI Limited  7,492.0 5,628.4
Allianz Australia Insurance Limited  4,320.8 3,246.1
QBE Insurance (Australia) Limited  4,304.3 3,233.7
Insurance Australia Limited  3,939.6 2,959.7
Insurance Manufacturers of  Australia Pty Limited  2,867.1 2,153.9
CGU Insurance Limited  2,277.1 1,710.7
IAG Re Australia Limited  1,583.8 1,189.9
Wesfarmers General Insurance Limited  1,285.9 966.0
Zurich Australian Insurance Limited  1,073.6 806.5
RACQ Insurance Limited  704.7 529.5

Source: Axco Insurance Information Services.

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LEADING LIFE INSURANCE COMPANIES, 2014

 

  Gross written premiums
Company AUD Mn USD Mn
MLC Limited  1,569.3 1,414.6
The Colonial Mutual Life Assurance Society Limited (CommInsure)  1,394.8 1,257.3
AMP Life Limited  1,206.8 1,087.8
TAL Life Limited  1,173.0 1,057.4
OnePath Life Limited  1,155.2 1,041.4
AIA Australia Limited  1,023.4 922.5
The National Mutual Life Association of Australasia Limited  941.8 848.9
Suncorp Life & Superannuation Limited  706.6 636.9
Challenger Life Company Limited  620.5 559.3
Westpac Life Insurance Services Limited 577.7 520.8

Source: Axco Insurance Information Services.

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