Australia : Insurance Core Principles—Detailed Assessment of Observance

Publication Date: November 21, 2012
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Summary: The insurance industry in Australia has weathered the global financial crisis well and was resilient to the catastrophic events in 2010/11. The insurance industry is mature but relatively small compared to the banking sector. Assets held by insurers represented only about 8 percent of the financial system total assets as at end-2011. Since 2007, the insurance market has been consolidating steadily as the total number of players fell from 190 to 172 although branches of foreign-owned general insurers rose from 36 to 43. The industry was comprised of 24 life insurers, 108 general insurers, 19 reinsurers, 7 captive general insurers and 14 friendly societies as at end-June 2011.
Series: Country Report No. 12/312
Subject(s): Insurance | Insurance regulations | Insurance supervision | Reports on the Observance of Standards and Codes | Financial Sector Assessment Program | Australia

Publication Date: November 21, 2012
ISBN/ISSN: 9781589069794/1934-7685 Format: Paper
Stock No: 1AUSEA2012006 Pages: 137
US$18.00 (Academic Rate:
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