Marine, Aviation and Transit Insurance in New Zealand to 2016: Market Databook by Timetric

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									Marine, Aviation and Transit Insurance
in New Zealand to 2016: Market
Databook


Reference Code: IN1607DB
Published: October 2012




John Carpenter House
7 Carmelite Street
London
EC4Y 0BS
United Kingdom
Tel: +44 (0)20 7936 6400
Fax: +44 (0)20 7336 6813




                                 www.timetric.com
TABLE OF CONTENTS

1         INTRODUCTION ...........................................................................................................7
    1.1      What is this Report About? .................................................................................................. 7
    1.2      Definitions ........................................................................................................................... 8
2         Policies and Premiums .............................................................................................10
    2.1      Gross Written Premiums ................................................................................................... 10
    2.2      Gross Written Premiums Forecast..................................................................................... 11
    2.3      Earned Premiums ............................................................................................................. 12
    2.4      Earned Premium Forecast ................................................................................................ 13
    2.5      Number of Active Policies ................................................................................................. 14
    2.6      Number of Active Policies Forecast ................................................................................... 15
    2.7      Number of Schemes Offered ............................................................................................. 16
    2.8      Number of Schemes Offered Forecast .............................................................................. 17
    2.9      Insurance Penetration (% of GDP) .................................................................................... 18
    2.10     Insurance Penetration (% of GDP) Forecast ..................................................................... 19
3         Claims and Expenses ...............................................................................................20
    3.1      Gross Claims .................................................................................................................... 20
    3.2      Gross Claims Forecast ...................................................................................................... 21
    3.3      Paid Claims ....................................................................................................................... 22
    3.4      Paid Claims Forecast ........................................................................................................ 23
    3.5      Change in Outstanding Reserves ...................................................................................... 24
    3.6      Change in Outstanding Reserves Forecast ....................................................................... 25
    3.7      Incurred Loss .................................................................................................................... 26
    3.8      Incurred Loss Forecast...................................................................................................... 27
    3.9      Loss Ratio % ..................................................................................................................... 28
    3.10     Loss Ratio % Forecast ...................................................................................................... 29
4         Marine Hull Insurance ...............................................................................................30
    4.1      Number of Active Policies ................................................................................................. 30
    4.2      Number of Active Policies Forecast ................................................................................... 31
    4.3      Gross Written Premiums ................................................................................................... 32
    4.4      Gross Written Premiums Forecast..................................................................................... 33
    4.5      Insurance Density and Penetration ................................................................................... 34
    4.6      Insurance Density and Penetration Forecast ..................................................................... 35
5         Marine Liability Insurance ........................................................................................36
    5.1      Number of Active Policies ................................................................................................. 36
    5.2      Number of Active Policies Forecast ................................................................................... 37
    5.3      Gross Written Premiums ................................................................................................... 38
    5.4      Gross Written Premiums Forecast..................................................................................... 39

Marine, Aviation and Transit Insurance in New Zealand to 2016: Market Databook
                                                                                                                                            Page 2
© Timetric. This product is licensed and is not to be photocopied
                                                                                                                        Published: October 2012
    5.5      Insurance Density and Penetration ................................................................................... 40
    5.6      Insurance Density and Penetration Forecast ..................................................................... 41
6         Aviation Insurance ....................................................................................................42
    6.1      Number of Active Policies ................................................................................................. 42
    6.2      Number of Active Policies Forecast ................................................................................... 43
    6.3      Gross Written Premiums ................................................................................................... 44
    6.4      Gross Written Premiums Forecast..................................................................................... 45
    6.5      Insurance Density and Penetration ................................................................................... 46
    6.6      Insurance Density and Penetration Forecast ..................................................................... 47
7         Transit Insurance ......................................................................................................48
    7.1      Number of Active Policies ................................................................................................. 48
    7.2      Number of Active Policies Forecast ................................................................................... 49
    7.3      Gross Written Premiums ................................................................................................... 50
    7.4      Gross Written Premiums Forecast..................................................................................... 51
    7.5      Insurance Density and Penetration ................................................................................... 52
    7.6      Insurance Density and Penetration Forecast ..................................................................... 53
8         APPENDIX ..................................................................................................................54
    8.1      Methodology ..................................................................................................................... 54
    8.2      Contact Us ........................................................................................................................ 54
    8.3      About Timetric ................................................................................................................... 54
    8.4      Disclaimer ......................................................................................................................... 56




Marine, Aviation and Transit Insurance in New Zealand to 2016: Market Databook
                                                                                                                                          Page 3
© Timetric. This product is licensed and is not to be photocopied
                                                                                                                       Published: October 2012
LIST OF TABLES

Table 1: Insurance Industry Definitions ................................................................................................................8
Table 2: New Zealand Marine, Aviation & Transit Insurance; Gross Written Premiums (US$ Billion), 2007-
2011 ................................................................................................................................................................... 10
Table 3: New Zealand Marine, Aviation & Transit Insurance; Gross Written Premiums (NZD Billion), 2007-
2011 ................................................................................................................................................................... 10
Table 4: New Zealand Marine, Aviation & Transit Insurance; Gross Written Premiums (US$ Billion), 2011-
2016 ................................................................................................................................................................... 11
Table 5: New Zealand Marine, Aviation & Transit Insurance; Gross Written Premiums (NZD Billion), 2011-
2016 ................................................................................................................................................................... 11
Table 6: New Zealand Marine, Aviation & Transit Insurance; Earned Premiums (US$ Billion), 2007-2011 ..... 12
Table 7: New Zealand Marine, Aviation & Transit Insurance; Earned Premiums (NZD Billion), 2007-2011 .... 12
Table 8: New Zealand Marine, Aviation & Transit Insurance; Earned Premiums (US$ Billion), 2011-2016 ..... 13
Table 9: New Zealand Marine, Aviation & Transit Insurance; Earned Premiums (NZD Billion), 2011-2016 .... 13
Table 10: New Zealand Marine, Aviation & Transit Insurance; Number of Active Policies (Million), 2007-2011
........................................................................................................................................................................... 14
Table 11: New Zealand Marine, Aviation & Transit Insurance; Number of Active Policies (Million), 2011-2016
........................................................................................................................................................................... 15
Table 12: New Zealand Marine, Aviation & Transit Insurance; Number of Schemes Offered (Absolute), 2007-
2011 ................................................................................................................................................................... 16
Table 13: New Zealand Marine, Aviation & Transit Insurance; Number of Schemes Offered (Absolute), 2011-
2016 ................................................................................................................................................................... 17
Table 14: New Zealand Marine, Aviation & Transit Insurance; Penetration (% of GDP), 2007-2011 ............... 18
Table 15: New Zealand Marine, Aviation & Transit Insurance; Penetration (% of GDP), 2011-2016 ............... 19
Table 16: New Zealand Marine, Aviation & Transit Insurance; Gross Claims (US$ Billion), 2007-2011 .......... 20
Table 17: New Zealand Marine, Aviation & Transit Insurance; Gross Claims (NZD Billion), 2007-2011 ......... 20
Table 18: New Zealand Marine, Aviation & Transit Insurance; Gross Claims (US$ Billion), 2011-2016 .......... 21
Table 19: New Zealand Marine, Aviation & Transit Insurance; Gross Claims (NZD Billion), 2011-2016 ......... 21
Table 20: New Zealand Marine, Aviation & Transit Insurance; Paid Claims (US$ Billion), 2007-2011 ............ 22
Table 21: New Zealand Marine, Aviation & Transit Insurance; Paid Claims (NZD Billion), 2007-2011 ............ 22
Table 22: New Zealand Marine, Aviation & Transit Insurance; Paid Claims (US$ Billion), 2011-2016 ............ 23
Table 23: New Zealand Marine, Aviation & Transit Insurance; Paid Claims (NZD Billion), 2011-2016 ............ 23
Table 24: New Zealand Marine, Aviation & Transit Insurance; Change in Outstanding Reserves (US$ Billion),
2007-2011 .......................................................................................................................................................... 24
Table 25: New Zealand Marine, Aviation & Transit Insurance; Change in Outstanding Reserves (NZD Billion),
2007-2011 .......................................................................................................................................................... 24
Table 26: New Zealand Marine, Aviation & Transit Insurance; Change in Outstanding Reserves (US$ Billion),
2011-2016 .......................................................................................................................................................... 25
Table 27: New Zealand Marine, Aviation & Transit Insurance; Change in Outstanding Reserves (NZD Billion),
2011-2016 .......................................................................................................................................................... 25
Table 28: New Zealand Marine, Aviation & Transit Insurance; Incurred Loss (US$ Billion), 2007-2011 .......... 26
Table 29: New Zealand Marine, Aviation & Transit Insurance; Incurred Loss (NZD Billion), 2007-2011 ........ 26
Table 30: New Zealand Marine, Aviation & Transit Insurance; Incurred Loss (US$ Billion), 2011-2016 .......... 27
Table 31: New Zealand Marine, Aviation & Transit Insurance; Incurred Loss (NZD Billion), 2011-2016 ........ 27
Table 32: New Zealand Marine, Aviation & Transit Insurance; Loss Ratio % (Percentage), 2007-2011 ......... 28
Table 33: New Zealand Marine, Aviation & Transit Insurance; Loss Ratio % (Percentage ), 2011-2016 ........ 29
Table 34: New Zealand Marine Hull Insurance; Number of Active Policies (Million), 2007-2011 ..................... 30
Table 35: New Zealand Marine Hull Insurance; Number of Active Policies (Million), 2011-2016 ..................... 31
Table 36: New Zealand Marine Hull Insurance; Gross Written Premiums (US$ Billion), 2007-2011 .............. 32
Table 37: New Zealand Marine Hull Insurance; Gross Written Premiums (NZD Billion), 2007-2011 ............... 32
Table 38: New Zealand Marine Hull Insurance; Gross Written Premiums (US$ Billion), 2011-2016 ............... 33
Table 39: New Zealand Marine Hull Insurance; Gross Written Premiums (NZD Billion), 2011-2016 .............. 33
Table 40: New Zealand Marine Hull Insurance; Density and Penetration (Absolute), 2007-2011 .................... 34
Table 41: New Zealand Marine Hull Insurance; Density and Penetration (Absolute), 2011-2016 .................... 35
Table 42: New Zealand Marine Liability Insurance; Number of Active Policies (Million), 2007-2011 ............... 36
Table 43: New Zealand Marine Liability Insurance; Number of Active Policies (Million), 2011-2016 ............... 37
Table 44: New Zealand Marine Liability Insurance; Gross Written Premiums (US$ Billion), 2007-2011 ......... 38
Table 45: New Zealand Marine Liability Insurance; Gross Written Premiums (NZD Billion), 2007-2011 ......... 38

Marine, Aviation and Transit Insurance in New Zealand to 2016: Market Databook
                                                                                                                                                                  Page 4
© Timetric. This product is licensed and is not to be photocopied
                                                                                                                                            Published: October 2012
Table 46: New Zealand Marine Liability Insurance; Gross Written Premiums (US$ Billion), 2011-2016 ......... 39
Table 47: New Zealand Marine Liability Insurance; Gross Written Premiums (NZD Billion), 2011-2016 ......... 39
Table 48: New Zealand Marine Liability Insurance; Density and Penetration (Absolute), 2007-2011 .............. 40
Table 49: New Zealand Marine Liability Insurance; Density and Penetration (Absolute), 2011-2016 .............. 41
Table 50: New Zealand Aviation Insurance; Number of Active Policies (Million), 2007-2011 .......................... 42
Table 51: New Zealand Aviation Insurance; Number of Active Policies (Million), 2011-2016 .......................... 43
Table 52: New Zealand Aviation Insurance; Gross Written Premiums (US$ Billion), 2007-2011 ..................... 44
Table 53: New Zealand Aviation Insurance; Gross Written Premiums (NZD Billion), 2007-2011 .................... 44
Table 54: New Zealand Aviation Insurance; Gross Written Premiums (US$ Billion), 2011-2016 ..................... 45
Table 55: New Zealand Aviation Insurance; Gross Written Premiums (NZD Billion), 2011-2016 .................... 45
Table 56: New Zealand Aviation Insurance; Density and Penetration (Absolute), 2007-2011 ......................... 46
Table 57: New Zealand Aviation Insurance; Density and Penetration (Absolute), 2011-2016 ......................... 47
Table 58: New Zealand Transit Insurance; Number of Active Policies (Million), 2007-2011 ............................ 48
Table 59: New Zealand Transit Insurance; Number of Active Policies (Million), 2011-2016 ............................ 49
Table 60: New Zealand Transit Insurance; Gross Written Premiums (US$ Billion), 2007-2011....................... 50
Table 61: New Zealand Transit Insurance; Gross Written Premiums (NZD Billion), 2007-2011 ...................... 50
Table 62: New Zealand Transit Insurance; Gross Written Premiums (US$ Billion), 2011-2016....................... 51
Table 63: New Zealand Transit Insurance; Gross Written Premiums (NZD Billion), 2011-2016 ...................... 51
Table 64: New Zealand Transit Insurance; Density and Penetration (Absolute), 2007-2011 ........................... 52
Table 65: New Zealand Transit Insurance; Density and Penetration (Absolute), 2011-2016 ........................... 53




Marine, Aviation and Transit Insurance in New Zealand to 2016: Market Databook
                                                                                                               Page 5
© Timetric. This product is licensed and is not to be photocopied
                                                                                               Published: October 2012
LIST OF FIGURES

Figure 1: New Zealand Marine, Aviation & Transit Insurance; Gross Written Premiums (US$ Billion), 2007-
2011 ................................................................................................................................................................... 10
Figure 2: New Zealand Marine, Aviation & Transit Insurance; Gross Written Premiums (US$ Billion) 2011-
2016 ................................................................................................................................................................... 11
Figure 3: New Zealand Marine, Aviation & Transit Insurance; Earned Premiums (US$ Billion), 2007-2011 ... 12
Figure 4: New Zealand Marine, Aviation & Transit Insurance; Earned Premiums (US$ Billion 2011-2016 ...... 13
Figure 5: New Zealand Marine, Aviation & Transit Insurance; Number of Active Policies (Million), 2007-201114
Figure 6: New Zealand Marine, Aviation & Transit Insurance; Number of Active Policies (Million), 2011-201615
Figure 7: New Zealand Marine, Aviation & Transit Insurance; Number of Schemes Offered (Absolute), 2007-
2011 ................................................................................................................................................................... 16
Figure 8: New Zealand Marine, Aviation & Transit Insurance; Number of Schemes Offered (Absolute), 2011-
2016 ................................................................................................................................................................... 17
Figure 9: New Zealand Marine, Aviation & Transit Insurance; Penetration (% of GDP), 2007-2011................ 18
Figure 10: New Zealand Marine, Aviation & Transit Insurance; Penetration (% of GDP), 2011-2016.............. 19
Figure 11: New Zealand Marine, Aviation & Transit Insurance; Gross Claims (US$ Billion), 2007-2011 ......... 20
Figure 12: New Zealand Marine, Aviation & Transit Insurance; Gross Claims (US$ Billion 2011-2016 ........... 21
Figure 13: New Zealand Marine, Aviation & Transit Insurance; Paid Claims (US$ Billion), 2007-2011 ........... 22
Figure 14: New Zealand Marine, Aviation & Transit Insurance; Paid Claims (US$ Billion 2011-2016 ............. 23
Figure 15: New Zealand Marine, Aviation & Transit Insurance; Change in Outstanding Reserves (US$ Billion),
2007-2011 .......................................................................................................................................................... 24
Figure 16: New Zealand Marine, Aviation & Transit Insurance; Change in Outstanding Reserves (US$ Billion)
2011-2016 .......................................................................................................................................................... 25
Figure 17: New Zealand Marine, Aviation & Transit Insurance; Incurred Loss (US$ Billion), 2007-2011 ........ 26
Figure 18: New Zealand Marine, Aviation & Transit Insurance; Incurred Loss (US$ Billion) 2011-2016 ......... 27
Figure 19: New Zealand Marine, Aviation & Transit Insurance; Loss Ratio % (Percentage), 2007-2011 ........ 28
Figure 20: New Zealand Marine, Aviation & Transit Insurance; Loss Ratio % (Percentage ) 2011-2016 ........ 29
Figure 21: New Zealand Marine Hull Insurance; Number of Active Policies (Million), 2007-2011 .................... 30
Figure 22: New Zealand Marine Hu
								
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