NZ's insurance premiums top global average, profitability declines

Wed, 27 Jun 2012

By Hannah Lynch June 28 (BusinessDesk) - Insurance premiums in New Zealand and Australia rose well above the international average in 2011, even as profitability deteriorated, according to global reinsurer, Swiss Re. Life insurance premiums increased 2.2 percent in Australian and New Zealand last year, while globally premiums decreased 2.7 percent. Non-life insurance premiums expanded 3.7 percent to US$8.5 billion in New Zealand and grew 9 percent to US$44 billion in Australia, well above the global average of 1.9 percent. "Growth of Austr...

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