There have been significant changes to greenslip insurer market share, shown in the latest analysis published by the Motor Accident Authority (MAA).
Written premiums
Insurer market share on the basis of written premiums over the last four years is set out in the table below (Motor Accident Authority Annual Report 2009-2010, page 57). The table also shows changes to market share between June 2009 and June 2010.
June 2007 | June 2008 | June 2009 | June 2010 | Change 2009 to 2010 | |
AAMI | 15.1% | 14.7% | 12.5% | 10.1% | -19.2% |
Allianz | 15.7% | 15.6% | 14.4% | 13.4% | -6.9% |
CIC Allianz | 7.8% | 6.8% | 6.2% | 4.9% | -21.0% |
GIO | 8.3% | 8.1% | 8.8% | 10.7% | +21.6% |
NRMA | 35.6% | 35.8% | 37.3% | 36.7% | -1.6% |
QBE | 10.6% | 12.2% | 13.6% | 17.5% | +28.7% |
Zurich | 6.9% | 6.8% | 7.2% | 6.7% | -6.9% |
NRMA remains the dominant insurer with 36.7% of the market, down fractionally (1.6%) on the previous year.
Of the seven insurers offering CTP greenslips in NSW, two increased market share and five lost market share.
The winners for the year were GIO, increasing market share by 21.6% and QBE, increasing market share by 28.7%.
AAMI, Allianz, CIC Allianz, NRMA and Zurich all lost market share. CIC Allianz market share was down by 21.0% and AAMI market share was down by 19.2%.
The total premium pool for the year ending 30 June 2010 was $1.5 billion.
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