Property and Casualty Insurance Market in New Zealand Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Property and Casualty Insurance Market Report in New Zealand is Segmented by Insurance Type (home, Motor, and Other Insurance Types) and Distribution Channel (direct, Agency, Bank, and Other Distribution Channels). The Report Offers Market Size and Forecasts for the Property and Casualty Insurance Market in New Zealand in Terms of Revenue (USD) for all the Above Segments.

Property and Casualty Insurance Market in New Zealand Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Property And Casualty Insurance Market Size

Property And Casualty Insurance Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Size (2025) USD 7.74 Billion
Market Size (2030) USD 9.98 Billion
CAGR (2025 - 2030) 5.20 %
Market Concentration Medium

Major Players

Property And Casualty Insurance Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Property And Casualty Insurance Market Analysis

The Property And Casualty Insurance Market size is estimated at USD 7.74 billion in 2025, and is expected to reach USD 9.98 billion by 2030, at a CAGR of less than 5.2% during the forecast period (2025-2030).

The property and casualty insurance market in New Zealand encompasses various types of insurance coverage, including home insurance, motor vehicle insurance, commercial property insurance, liability insurance, and other forms of coverage for individuals and businesses. Factors such as population growth, economic conditions, weather events, and regulatory changes can influence the performance and dynamics of the property and casualty insurance market in New Zealand. Catastrophic events like earthquakes, floods, and storms can have a significant impact on insurance claims and pricing. Insurance premiums in New Zealand are influenced by factors such as the insured property's location, value, risk profile, and the policyholder's claims history. Insurance companies conduct risk assessments to determine the appropriate premium levels for different policyholders.

The post-COVID-19 scenario of the property and casualty insurance market in New Zealand is showing resilience and growth. With the recovery of the economy and increased awareness of the importance of insurance coverage, the market is experiencing a positive trend.

Property And Casualty Insurance Industry Overview

The report covers the major players operating in the property and casualty insurance market in New Zealand. The market is relatively consolidated and is expected to grow during the forecast period due to new government regulations and low penetration in the market compared to OCED countries. Some of the players currently dominating the market such as AIA International Limited, Zurich Financial Services Australia Limited, Iag New Zealand Limited, Tower Financial Services Group Limited, and Aig Insurance New Zealand Limited.

Property And Casualty Insurance Market Leaders

  1. AIA International Limited

  2. Zurich Financial Services Australia Limited

  3. Iag New Zealand Limited

  4. Tower Financial Services Group Limited

  5. Aig Insurance New Zealand Limited

  6. *Disclaimer: Major Players sorted in no particular order
Property And Casualty Insurance Market Concentration
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Property And Casualty Insurance Market News

  • September 2023: Howden New Zealand, a global insurance group, expanded its presence in New Zealand. They recently completed the acquisition of Apex Insurance New Zealand and its associated subsidiaries.
  • July 2022: Chubb Life announced that Gail Costa will lead the company's life insurance operations in New Zealand that were recently acquired from Cigna.

Property And Casualty Insurance Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 Increasing Property Values is Driving the Market
    • 4.2.2 Growing Awareness of the Need for Insurance Coverage
  • 4.3 Market Restraints
    • 4.3.1 Natural Disasters such as Earthquakes and Floods is Restraining the Market
  • 4.4 Market Opportunities
    • 4.4.1 Growing Demand for Innovative Products and Services
    • 4.4.2 Advancements in Technology and Data Analytics Present Opportunities
  • 4.5 Porter's Five Forces Analysis
    • 4.5.1 Bargaining Power of Suppliers
    • 4.5.2 Bargaining Power of Buyers/Consumers
    • 4.5.3 Threat of New Entrants
    • 4.5.4 Threat of Substitute Products
    • 4.5.5 Intensity of Competitive Rivalry
  • 4.6 Insights on Technological Advancements in the Market
  • 4.7 Impact of COVID-19 on the Market

5. MARKET SEGMENTATION

  • 5.1 By Insurance type
    • 5.1.1 Home
    • 5.1.2 Motor
    • 5.1.3 Other Insurance types (marine, professional liability etc.,)
  • 5.2 By Channel of Distribution
    • 5.2.1 Direct
    • 5.2.2 Agency
    • 5.2.3 Banks
    • 5.2.4 Other channels of distribution (bancassurance, tied agents and branches)

6. COMPETITIVE LANDSCAPE

  • 6.1 Market Concentration
  • 6.2 Company Profiles
    • 6.2.1 AIA International Limited
    • 6.2.2 Zurich Financial Services Australia Limited
    • 6.2.3 IAG New Zealand Limited
    • 6.2.4 Tower Financial Services Group Limited
    • 6.2.5 Aig Insurance New Zealand Limited
    • 6.2.6 FMG Insurance Limited
    • 6.2.7 Crombie Lockwood (NZ) Limited
    • 6.2.8 Allianz Australia Insurance Limited
    • 6.2.9 Aon New Zealand
    • 6.2.10 Westpac Life-NZ- Limited*
  • *List Not Exhaustive

7. MARKET FUTURE TRENDS

8. DISCLAIMER AND APPENDIX

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Property And Casualty Insurance Industry Segmentation

This report aims to provide a detailed analysis of the property and casualty insurance market in New Zealand. It focuses on the market dynamics, emerging trends in the segments and regional markets, and insights on various product and application types. Also, it analyses the key players and the competitive landscape in the Property and casualty insurance market in New Zealand. The market is segmented by insurance type, which includes home, motor, others such as marine, professional liability, etc., and by distribution channel, which includes direct, agency, banks, others such as bancassurance, tied agents and branches, etc.

The report offers market size and forecasts for the property and casualty insurance market in New Zealand in terms of revenue (USD) for all the above segments.

By Insurance type Home
Motor
Other Insurance types (marine, professional liability etc.,)
By Channel of Distribution Direct
Agency
Banks
Other channels of distribution (bancassurance, tied agents and branches)
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Property And Casualty Insurance Market Research FAQs

How big is the Property And Casualty Insurance Market?

The Property And Casualty Insurance Market size is expected to reach USD 7.74 billion in 2025 and grow at a CAGR of less than 5.20% to reach USD 9.98 billion by 2030.

What is the current Property And Casualty Insurance Market size?

In 2025, the Property And Casualty Insurance Market size is expected to reach USD 7.74 billion.

Who are the key players in Property And Casualty Insurance Market?

AIA International Limited, Zurich Financial Services Australia Limited, Iag New Zealand Limited, Tower Financial Services Group Limited and Aig Insurance New Zealand Limited are the major companies operating in the Property And Casualty Insurance Market.

What years does this Property And Casualty Insurance Market cover, and what was the market size in 2024?

In 2024, the Property And Casualty Insurance Market size was estimated at USD 7.34 billion. The report covers the Property And Casualty Insurance Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Property And Casualty Insurance Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Property And Casualty Insurance Industry Report

Statistics for the 2025 Property And Casualty Insurance market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Property And Casualty Insurance analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.