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Australia: Insurance Core Principles—Detailed Assessment of Observance

Australia: Insurance Core Principles—Detailed Assessment of Observance by International Monetary Fund
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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.
International Monetary Fund; November 2012
137 pages; ISBN 9781475525939
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Title: Australia: Insurance Core Principles—Detailed Assessment of Observance
Author: International Monetary Fund