Pecking order for insurance steady
DESPITE its boardroom wrangles, New South Wales-based insurance company NRMA still reigns supreme in Australia’s general insur-
ance industry, according to a survey by accountants Deloitte Touche Tohmatsu.
WA’s big insurers, Wesfarmers and RAC, were listed in 12th and 13th places respectively.
The next available statistics will be of significant interest as second placed Suncorp, together with its takeover of AMP General/GIO, may rival the NRMA juggernaut that has remained unchallenged for decades.
Analysis of the top 20 suggests six major groups have emerged as the dominant forces that will rise and, indeed, prosper from the HIH crash.
The top six, including CGU/Fortis, Royal &Sun Alliance, QBE and Allianz presently dominate more than 80 per cent of the market.
Deloitte’s National Insurance Industry Group chairman Peter Caldwell believes this news should not concern specialist insurers, who can expect a significant slice of the market, filling various niches.
“The next rankings will still show Suncorp in pursuit of NRMA, although the gap will have widened in the short term because of NRMA’s take-up of HIH’s workers’ com-pensation portfolio,” Mr Caldwell said.
Suncorp could assume the top spot with another successful takeover bid, provided NRMA avoids similar measures, such as creating another major strategic venture.
Mr Cadwell believes that, over the next five years, those insurers that readily adapt to the post HIH era – with its more stable underwriting and pricing conditions – should dominate the rankings and be well positioned to take full advantage of future opportunities.
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Students
6th | ![]() | Australian Institute of Management WA | 20,000 |
7th | ![]() | Murdoch University | 16,584 |
8th | ![]() | South Regional TAFE | 10,549 |
9th | ![]() | Central Regional TAFE | 9,064 |
10th | ![]() | The University of Notre Dame Australia | 6,708 |
46 tertiary education & training providers ranked by total number of students in WA
Number of Employees
Tertiary Education & Training Providers
7th | The University of Notre Dame Australia | 570 | |
8th | Electrical Group Training | NFP | |
9th | South Regional TAFE | 498 | |
10th | Central Regional TAFE | 336 | |
11th | Navitas | 300 |
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Show moreIt is important to note that the Morningstar information displayed by Business News is not to be copied or distributed except as authorised; and that such information is not warranted to be accurate, complete or timely and that neither Morningstar nor Business News are responsible for any damages or losses arising from any use of this information.
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