KPMG's annual General Insurance Industry Review includes the financial results of all Australian general insurers up to 30 June 2019.
Insurance profit for the year ended 30 June 2019 was down 12 percent to $4,399 million, a significant reduction on the previous two years’ annual results. Unfavourable claims experience – primarily from natural hazards and lower reserve releases – contributed to this result.
In this year's General Insurance Industry Review report we focus on the key drivers, events, trends and factors that influenced the performance of the general insurance industry throughout 2019.
We continue to see a number of emerging trends that will impact the industry in both the short and long term. These trends are largely split between those driven by technological advances and those impacted by regulatory developments.
We highlight our views on what are the top 10 trends that will shape and influence the industry in 2020 and beyond. We reflect on the implications of these current and emerging themes, which may require Australia’s general insurers to significantly adapt the way they do business.
In our report we provide a short insight into each emerging trend as we enter 2020.
The KPMG General Insurance Insights Dashboard contains a range of interactive charts and graphs presenting the key industry metrics for the past 5 years. The interactive dashboard enables the data to be filtered to view the metrics for a particular year or insurer. It also enables comparison of metrics for an individual insurer to others in the market.