Details

  • Industry: Financial Services, Insurance
  • Type: Survey report
  • Date: 1/03/2009

General Insurance Industry Survey

General Insurance Industry Survey
KPMG's annual General Insurance Survey includes financial results of general insurers that represent a significant part of the Australian market.

General Insurance Industry Survey: half year to 31 December 2008 

KPMG's General Insurance Industry Survey includes the financial results of general insurers that represent a significant part of the Australian market. This survey examines the market conditions of the last year, share price performance of the major listed insurers, issues facing the industry, market outlook and an analysis of the insurers' results.
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The half year results for Australia's four largest general insurers (Allianz, IAG, QBE and Suncorp) show the resilience of Australia's insurance sector when faced with turbulence in the financial markets and the weather.

 

The results for the 6 months to 31 December 2008 (which do not include losses relating to the recent floods in Far North Queensland and the Victorian bushfires) reflect the underlying strength of the sector and the positive effect of post-HIH regulation albeit impacted by a number of significant factors including:

 

  • severe weather events
  • volatile investment markets
  • widening credit spreads
  • foreign exchange fluctuations
  • deferred acquisition cost write-downs.
 

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KPMG’s Insurance group helps general insurance companies, health, life, reinsurance and broking arms of the industry make better business decisions.