Will strong growth continue? Australia’s risk insurance sector has yielded the recent benefit of two consecutive years of strong, double digit growth, and a combined spike in premium rates. With a market now nudging $14 billion (as measured by annual premium income) all eyes are on the long-term future for the sector. Rice Warner’s annual Risk Insurance Market Projections Report forecasts continuing – but slowing – growth over the next 15 years.
The big ticket number from Rice Warner’s annual Risk Insurance Market Projections Report is the estimated figure of $41.278 billion. That is the projected dollar value for Australia’s total risk insurance industry (premium income per annum) over the 15 years to June 30, 2029.
Source: Rice Warner
